The European Central Bank (ECB), in the last meeting on 9 September 2021, maintains interest rates unchanged at 0.00%. You can read and download the Monetary Policy Decision and the Press Conference both in PDF format below at the end of the post.
The European Central Bank (ECB) is the successor of the European Monetary Institute (EMI). The ECB formally replaced the EMI on 1 June 1998 by virtue of the Treaty on European Union (Treaty of Maastricht), however, it did not exercise its full powers until the introduction of the euro on 1 January 1999.
The ECB is one of the world's most important central banks and serves as one of seven institutions of the European Union. The bank's capital stock is owned by all 27 central banks of each EU member state. Headquartered in Frankfurt, Germany, the bank formerly occupied the Eurotower prior to the construction of its new seat.
So, the European Central Bank is the central bank of the 19 European Union countries which have adopted the euro. The main Bank's task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.
The ECB is an official EU institution at the heart of the Eurosystem and the Single Supervisory Mechanism. More than 3,500 staff from all over Europe work for the ECB in Frankfurt am Main. They perform a range of tasks in close cooperation with the national central banks within the Eurosystem and, for banking supervision, with the national supervisors within the Single Supervisory Mechanism.
The ECB’s President is Christine Lagarde and the Vice-President is Luis de Guindos. The main decision-making body is the Governing Council, which consists of the six members of the Executive Board plus the governors of the central banks of the 19 euro area countries.
The Governing Council usually meets twice a month at the ECB’s premises in Frankfurt am Main, Germany. It assesses economic and monetary developments and takes its monetary policy decisions every six weeks. At the other meetings, the Council discusses mainly issues related to other tasks and responsibilities of the ECB and the Eurosystem. To ensure the separation of the ECB’s monetary policy and other tasks from its supervisory responsibilities, separate meetings of the Governing Council are held.
The monetary policy decision is explained in detail at a press conference held every six weeks. The President, assisted by the Vice-President, chairs the press conference. In addition, the ECB publishes regular accounts of the Governing Council’s monetary policy meetings before the date of the next one.
If you are interested in reading the Statements and Minutes of the main central banks you can find them in the Central Banks meetings category, while the weekly reports are in the Weekly Reports category. In addition, you can find the calendar of the major central banks' meetings for this year on the page Central Banks meetings calendar 2021.
Next ECB meeting: 28 October 2021
The European Central Bank (ECB) is the successor of the European Monetary Institute (EMI). The ECB formally replaced the EMI on 1 June 1998 by virtue of the Treaty on European Union (Treaty of