10 February 2026 Vice-President de Guindos, you have said the ECB would adjust its policy if changing conditions warranted it. What kinds of developments would prompt a shift in policy, either upward or downward? Let me start by elaborating on the outlook. …
10 February 2026 By Alessandro De Sanctis, Stefan Gebauer, Julian Schumacher and Flavia Ungarelli Import tariffs imposed by other countries tend to lower euro area inflation and weaken growth. However, the sectors most exposed are also the most responsive …
9 February 2026 I have great respect for François Villeroy de Galhau’s personal decision to step down as Governor of the Banque de France after 11 years of loyal and dedicated service for the common good of both France and Europe. The Governing Council has …
8 February 2026 The idea of a digital euro has raised many questions across Europe. Could you explain why the ECB is moving ahead with it and what practical impact it could have for citizens, households and businesses? First, let me clarify that we have …
In the ECB’s Survey of Professional Forecasters (SPF) for the first quarter of 2026, expectations for headline HICP inflation were unchanged from the previous round for 2026, 2027 and the longer term.[1] Expectations for core inflation, as measured by the …
Speech by Piero Cipollone, Member of the Executive Board of the ECB, at the event “The digital euro in Cyprus” Nicosia, 6 February 2026 It is a pleasure to be in Cyprus today. I would like to thank Governor Patsalides and the organisers for inviting me. …
6 February 2026 Headline and core HICP inflation expectations unchanged across all horizons Real GDP growth expectations unchanged except for a slight upward revision for 2026 Unemployment rate expectations unchanged for 2026 and 2027 but slightly lower …
6 February 2026 By David Baez Seara and Desislava Deyanova Bulgaria adopted the euro on 1 January 2026. With this, Българската народна банка (the Bulgarian National Bank) became a full shareholder and the Bulgarian governor has taken a seat on the ECB’s …
4 February 2026 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 …
In the bank lending survey (BLS) on the fourth quarter of 2025, euro area banks reported an unexpected net tightening of credit standards for loans or credit lines to firms (net percentage of banks of 7%; see Overview table).[1] Perceived risks to the …
2 February 2026 Firms reported a net tightening in bank loan interest rates and in other loan conditions related to both price and non-price factors. Financing needs rose modestly, accompanied by a small perceived decline in availability. Inflation …
30 January 2026 Compared with November 2025: median consumer perceptions of inflation over the past 12 months increased slightly, as did median inflation expectations for three years ahead, while median expectations for the next 12 months were unchanged …
29 January 2026 The European Central Bank (ECB) today published statistics on non-cash payments for the first half of 2025.[2] The statistics comprise indicators on access to and use of payment services, payment cards and payment terminals by the public, …
29 January 2026 Components of the broad monetary aggregate M3 The annual growth rate of the broad monetary aggregate M3 decreased to 2.8% in December 2025 from 3.0% in November, averaging 2.9% in the three months up to December. The components of M3 showed …
28 January 2026 The ECB has used the current complex geopolitical situation as an argument in defence of the digital euro. Do you think that the events we’ve seen this year, such as Venezuela and Greenland, strengthen this case? Put like that, it sounds …
28 January 2026 Credit terms and conditions were expected to tighten in the first quarter of 2026, for all counterparty types but especially for hedge funds. In tandem with a broad-based rise in demand for funding, financing rates increased noticeably …
Introductory statement by Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Hearing of the Committee on Economic and Monetary Affairs of the European Parliament Brussels, 28 January 2026 …
27 January 2026 ECB and City of Frankfurt pay tribute to Holocaust victims and reflect on the historical significance of the Grossmarkthalle site Discussion between President Christine Lagarde and Diane von Fürstenberg on resilience and remembrance …
by Mishel Ghassibe and Anton Nakov[1] The post‑pandemic inflation surge is often attributed to pent-up demand and opportunistic price hikes by firms. In fact, it is better explained by the effects of the economy’s production network and “state‑dependent” …
27 January 2026 New provisions allow conditional reinstatement of access to Eurosystem monetary policy operations for entities subject to an open bank resolution scheme Updates are a further step in gradually phasing out temporary collateral easing …
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