EURGBP had a volatile trading day yesterday as it gave up its earlier gains from the ECB rate decision. How will the EU recovery talks affect it today?
ECB
On this page, you will read about everything you need to know about the European Central Bank (ECB) including its latest monetary policy decisions and market-moving speeches.
The European Central Bank (ECB) is the monetary authority in charge of money supply and price stability in the European Union. ECB was founded in June 1998 and headquartered in Frankfurt, Germany. The European Central Bank has, the right to authorize the issuance of euro banknotes. Member countries can issue euro coins, but the amount must be approved by the ECB.
The ECB’s Mission
The main objective of the European Central Bank is to maintain price stability: safeguarding the value of the euro (EUR). The ECB and national central banks together constitute the Eurosystem, the central banking system of the euro area.
Central Banks We cover for you: RBA –RBNZ –SNB – SARB –CBRT –Norges Bank –Riksbank – BOE –FOMC –BOJ– ECB.
The ECB is responsible for the supervision of the banking institutions in the euro area countries and in participating non-euro area Member States. The ECB contributes to the safety and soundness of the EU banking system and the stability of the financial system within the EU and each participating Member State.
In pursuing the maintenance of price stability, the ECB and Eurosystem will undertake the necessary economic and monetary analyses and adopt and implement appropriate policies. It will also properly and effectively respond to monetary and financial developments.
ECB’s monetary policy
The European Central Bank has defined price stability as a year-on-year increase in the Harmonised Index of Consumer Prices (HICP) for the euro area of below 2 percent. In achieving the target of price stability, the ECB aims at maintaining inflation rates below, but close to, 2% over the medium term.
Who Heads the ECB?
The European Central Bank’s President is Christine Lagarde and the Vice-President is Luis de Guindos. Christine Lagarde is the former Managing Director of the International Monetary Fund (IMF), and replaced Mario Draghi as President. The decision-making body of ECB 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.
Latest News
EURUSD Unchanged But Could See Volatility Pick Up When ECB President Lagarde Speaks
EURUSD Steady as Lagarde Optimistic for a Solution Between Germany and the ECB
EURGBP Tests Neckline of Head and Shoulders Ahead of Lagarde’s Speech
ECB Leaves Rates Unchanged; Raises PEPP Facility by €600 billion
The Governing Council of the European Central Bank (ECB) left its key interest rates unchanged. Rates for the refinancing operations, marginal lending facility and the deposit facility will stay at 0.00%, 0.25% and -0.50%, respectively. This decision is in line with the projections of the market. However, Pandemic Emergency Purchase [...]
Preview of ECB Meeting and Interest Rate Decision: EURUSD In Focus
The European Central Bank meets to decide its interest rates as well as any possible adjustments to its PEPP program. Interest rates are likely to be kept on hold. Still, the emphasis of tomorrow’s statement and press conference will be the Pandemic Emergency Purchase Programme (PEPP), which analysts are predicting [...]
Record Fall in Eurozone Industrial Production Pummels Eurostoxx 50
The Eurostoxx 50 index has declined 3.13% on the day after a record drop in the Eurozone area’s industrial production for March 2020. The 11.3% monthly fall and 12.9% year-on-year drop means that the coronavirus pandemic and consequent lockdowns and business closures have had a damaging effect on the economy [...]
EURUSD Lower as the Power Struggle Between Germany and the ECB/EU Continues
As the rift between the ECB/EU and Germany continues, EURUSD has found itself under some selling pressure. The currency pair has given back all of its gains from April 24 to May 1 when it rallied by over 240 pips to 1.1018. As of this writing, EURUSD is down by [...]
Could Bundesbank President Weidmann and ECB President Lagarde Send EURUSD Lower?
Following yesterday’s sharp drop, EURUSD is holding steady in this morning’s session around 1.0800. However, technicals suggest there could be more downside ahead. The speeches of two key central bankers from the Bundesbank and ECB may just trigger it.
EURUSD Steady Before German Court’s Decision on Whether or Not the ECB’s QE Program is Legal
We could be in for some volatile movements on EURUSD today as a German court decides whether or not the ECB's QE Program is legal under German law. Here's what you should know.
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