17 June 2025 By Christine Lagarde, President of the European Central Bank For the euro to reach its full potential, Europe must strengthen three foundational pillars: geopolitical credibility, economic resilience and legal and institutional integrity. We …
Prepared by Giulia Martorana and Jakub Mistak Following the 2 April tariff announcement by the US Administration, financial market volatility spiked from previously subdued levels, becoming more aligned with the surge in economic policy uncertainty (EPU) …
Prepared by Annalisa Ferrando, Sara Lamboglia and Judit Rariga This box looks at the formation of the euro area inflation expectations captured in the survey on access to finance of enterprises (SAFE). Since June 2023 the SAFE has collected information on …
16 June 2025 President Lagarde said the ECB was in a good place now. Investors and ECB watchers took that to mean a pause in rate cuts is appropriate. Was that the correct interpretation? The projections provide the key to understanding our policy decision …
14 June 2025 I was in the audience in 2018 at the opening ceremony of the first China International Import Expo in Shanghai. You said in a speech there that China built a bridge to the world, built a bridge to prosperity and is building a bridge to the …
12 June 2025 Carbon emissions continued to decline across most asset classes New indicator used to assess nature-related dependencies and impacts Tilting framework responsible for around one-quarter of emission reductions in Eurosystem’s monetary policy …
Keynote speech by Luis de Guindos, Vice-President of the ECB, at the annual Joint Conference of the European Commission and the European Central Bank on European financial integration Brussels, 12 June 2025 Introduction I am once again delighted to speak …
12 June 2025 The European Central Bank (ECB) has updated its dataset of structural financial indicators for the banking sector in the European Union (EU) for the end of 2024. This annual dataset comprises statistics for credit institutions in the EU with …
The international role of the euro remained broadly stable in 2024. The share of the euro across various indicators of international currency use has been largely unchanged, at around 19%, since Russia’s invasion of Ukraine. The euro continued to hold its …
11 June 2025 ECB wage tracker updated with wage agreements signed up to mid-May 2025 Forward-looking information confirms negotiated wage growth set to ease over course of year, consistent with data published following April 2025 Governing Council meeting …
11 June 2025 Euro’s share across various indicators of international currency use largely unchanged at around 19% Emerging challenges include initiatives promoting global use of cryptocurrencies Upholding rule of law essential for maintaining, and …
Keynote speech by Philip R. Lane, Member of the Executive Board of the ECB, at the Government Borrowers Forum 2025 Dublin, 11 June 2025 I am grateful for the invitation to contribute to the Government Borrowers Forum. I will use my time to cover three …
Speech by Christine Lagarde, President of the ECB, at the People’s Bank of China in Beijing Beijing, 11 June 2025 It is a pleasure to be back here in Beijing. Some years ago, I spoke about how a changing world was creating a new global map of economic …
10 June 2025 Directorate General Market Infrastructure and Payments oversees and coordinates the operation and development of payment systems and market infrastructure It also leads the digital euro project Mr Vlassopoulos will replace Ulrich Bindseil, who …
10 June 2025 By Benjamin Böninghausen and Florian Hartmann Geopolitical tensions and trade policy uncertainty are injecting unpredictability into global financial markets. What seems like rock-solid market sentiment today can turn into jitters tomorrow. In …
Keynote speech by Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Italian constitutional court Rome, 9 June 2025 Introduction Thank you very much for inviting me. The writings, judgments …
Speech by Christine Lagarde, President of the ECB, at the Blue Economy and Finance Forum in Monaco Monaco, 7 June 2025 It is a pleasure to speak at the Blue Economy and Finance Forum. In his 1857 poem “Man and the Sea”, Charles Baudelaire explored the deep …
The outlook for euro area economic growth is clouded by trade tensions and elevated global uncertainty. For 2025 as a whole, these effects are seen to be partly compensated by stronger than expected economic activity in the first quarter, which likely …
This Convergence Report has been prepared following a request for a country examination submitted by Bulgaria on 25 February 2025. In producing this report, the ECB fulfils its requirement under Article 140 of the Treaty on the Functioning of the European …
4 June 2025 Bank interest rates for corporations Chart 1 Bank interest rates on new loans to, and deposits from, euro area corporations (percentages per annum) Data for cost of borrowing and deposit interest rates for corporations (Chart 1)The composite …
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