CINXE.COM
Webcasts: ECB monetary policy decisions
<!DOCTYPE html> <html lang="en"> <head> <meta charset="utf-8"> <link rel="preload" href="/shared/dist/fonts/opensans_fixed/OpenSans-Regular.woff2" as="font" crossorigin> <link rel="preload" href="/shared/dist/fonts/opensans_fixed/OpenSans-SemiBold.woff2" as="font" crossorigin> <link rel="preload" href="/shared/dist/fonts/opensans_fixed/OpenSans-Bold.woff2" as="font" crossorigin> <link rel="preload" href="/shared/dist/fonts/ecb-iconset/ECB-icon-set.woff2" as="font" crossorigin> <link rel="icon" href="/fav.ico" sizes="16x16"> <link rel="icon" href="/favicon-16.png" sizes="16x16"> <link rel="icon" href="/favicon-32.png" sizes="32x32"> <link rel="icon" href="/favicon-64.png" sizes="64x64"> <link rel="icon" href="/favicon-128.png" sizes="128x128"> <link rel="icon" href="/favicon-192.png" sizes="192x192"> <link rel="icon" href="/favicon-256.png" sizes="256x256"> <link rel="shortcut icon" href="/favicon-196.png" sizes="196x196"> <link rel="apple-touch-icon" href="/favicon-152.png" sizes="152x152"> <link rel="apple-touch-icon" href="/favicon-180.png" sizes="180x180"> <title>Webcasts: ECB monetary policy decisions</title> <meta property="article:published_time" content="2022-09-08"> <link rel="canonical" href="https://www.ecb.europa.eu/press/press_conference/html/index.en.html"> <meta name="author" content="European Central Bank"> <meta name="description" content="Webcasts of ECB press conferences"> <meta name="viewport" content="width=device-width, initial-scale=1.0, viewport-fit=cover"> <script> var ECB = {}; ECB.currentLanguage = 'en'; ECB.isoLocalLanguageName = 'English'; ECB.isLive = true; ECB.version = '2728911'; ECB.navigationVersion = '1732551482'; ECB.clientTimeError = 1733000817 - (new Date().getTime()); ECB.availableLanguages = [{"bg": "Български"},{"cs": "Čeština"},{"da": "Dansk"},{"de": "Deutsch"},{"el": "Eλληνικά"},{"en": "English"},{"es": "Español"},{"et": "Eesti keel"},{"fi": "Suomi"},{"fr": "Français"},{"ga": "Gaeilge"},{"hr": "Hrvatski"},{"hu": "Magyar"},{"it": "Italiano"},{"lt": "Lietuvių"},{"lv": "Latviešu"},{"mt": "Malti"},{"nl": "Nederlands"},{"pl": "Polski"},{"pt": "Português"},{"ro": "Română"},{"sk": "Slovenčina"},{"sl": "Slovenščina"},{"sv": "Svenska"}]; </script> <link rel="stylesheet" href="/shared/dist/css/main-ecb.min.css?2728911" media="all"> <meta name="twitter:card" content="summary"> <meta name="twitter:site" content="@ecb"> <meta name="explainerDate" content="1 January 1970"> <meta property="og:type" content="article"> <meta property="og:type" content="website"> <meta property="og:title" content="Webcasts: ECB monetary policy decisions"> <meta property="og:url" content="https://www.ecb.europa.eu/press/press_conference/html/index.en.html"> <meta property="og:image:secure_url" content="https://www.ecb.europa.eu/press/shared/img/socialmedia/social-default.jpg?0ef1632c35edede913681bb76af694a4"> <meta property="og:image" content="https://www.ecb.europa.eu/press/shared/img/socialmedia/social-default.jpg?0ef1632c35edede913681bb76af694a4" > <meta property="og:image:width" content="1200"> <meta property="og:image:height" content="600"> <meta property="og:description" content="Webcasts of ECB press conferences"> <meta property="og:site_name" content="European Central Bank"> <noscript> <style> .accordion .content-box { display: block; } </style> </noscript> <script type="text/javascript"> /*! ecb - v2.0.0 - European Central Bank */ var ECB=window.ECB||{};ECB.fast=ECB.fast||{},ECB.slow=ECB.slow||{},ECB.supports=ECB.supports||{},ECB.fast.annexSwap=function(){var t,e,n=document.querySelector(".section-press .address-box + .definition-list");n&&(t=(e=(t=(e=(t=n.previousElementSibling).previousElementSibling)&&e.classList.contains("related-topics")?e:t).previousElementSibling)&&e.classList.contains("footnotes")?e:t).parentNode.insertBefore(n,t)},ECB.fast.attribution=function(n){var t=n.style.backgroundImage||n.src;t=(t=t.replace('url("',"")).replace('")',""),n.src&&(n=n.closest("picture"));t&&!function(t){t=t.replace('url("',"");var e=document.location.protocol+"//"+document.location.hostname;return(-1!==t.indexOf("http")||-1!==t.indexOf('url("//'))&&!t.startsWith(e)}(t)&&ECB.fast.exif.getArtist(t,function(t){var e;0<t.length&&!n.classList.contains("-attribution")&&(n.classList.add("-attribution"),n.insertAdjacentHTML("beforeend",'<span class="attribution"><span class="attribution-details">'+(t.startsWith("©")?"":"© ")+t+'</span> <button aria-label="Photographer"></button></span>'),(e=n.querySelector(".attribution button")).addEventListener("click",function(t){return e.parentElement.classList.toggle("-active"),t.preventDefault(),t.stopPropagation(),!1}))})},ECB.fast.authorMove=function(){let t=document.getElementById("side-authors");var e;t&&(e=Array.from(document.querySelectorAll("aside > *")).reduce(function(t,e){return t+e.clientHeight},0),t.style.marginTop=Math.max(110,e)+50+"px")},ECB.fast.connector=function(t){function e(t){t.classList.contains("-gradient-upper")&&(i="-gradient-upper"),t.classList.contains("-dark-grey")&&(o="-dark-grey"),t.classList.contains("-light-grey-blue")&&(i="-transparent-light-grey",o="-transparent-blue");var e="<div class='upper-connection "+i+"'></div> <div class='lower-connection "+o+"'></div>";t.insertAdjacentHTML("afterend",e)}function a(t,e){return t.classList.contains(e)}function n(t,e){for(var n=0;n<e.length;n++)if(a(t,e[n]))return 1}var r=(t=t||document).querySelectorAll(".connector"),i="-transparent-blue",o="-light-blue";if(0<r.length)e(r[r.length-1]);else{var s=Array.from(t.querySelectorAll(".contact-box, .see-also-boxes, .carousel, .promo-box, .contact-box, .explainer-box"));if(s.length){var l=s[0],c=l.previousElementSibling;if(c&&"DIV"==c.tagName&&!a(c,"title")){for(var u=l.nextElementSibling,g=!1;null!=u;)a(u,"in-this-section")||"SCRIPT"==u.tagName||"STYLE"==u.tagName||(-1==s.indexOf(u)?g=!0:g&&(c=(l=u).previousElementSibling,g=!1)),u=u.nextElementSibling;g||(c.classList.add("connector"),n(c,["section","intro","boxes","accordion","definition-list","tags"])&&c.classList.add("-gradient-upper"),n(c,["jumbo-box"])&&a(c,"-dark-blue")&&c.classList.add("-light-grey-blue"),a(l,".carousel")||c.classList.add("-dark-grey"),e(c))}}}},ECB.fast.exif=function(){function i(t,e,n){return function(t,e,n){var a,r,i,o="";for(n=e+n;e<n;)switch((a=t.getUint8(e++))>>4){case 0:case 1:case 2:case 3:case 4:case 5:case 6:case 7:o+=String.fromCharCode(a);break;case 12:case 13:r=t.getUint8(e++),o+=String.fromCharCode((31&a)<<6|63&r);break;case 14:r=t.getUint8(e++),i=t.getUint8(e++),o+=String.fromCharCode((15&a)<<12|(63&r)<<6|(63&i)<<0)}return o}(t,e,n)}function o(t,e,n){if("exif"!=i(t,e,4).toLowerCase())return!1;var a,e=e+(n?8:6);if(18761==t.getUint16(e))a=!1;else{if(19789!=t.getUint16(e))return!1;a=!0}return 42==t.getUint16(e+2,!a)&&(!((n=t.getUint32(e+4,!a))<8)&&function(t,e,n,a){for(var r,i=t.getUint16(n,!a),o=0;o<i;o++)if(315===t.getUint16(r=n+12*o+2,!a))return s(t,r,e,a);return""}(t,e,e+n,a))}var s=function(t,e,n,a){var r=t.getUint32(e+4,!a),n=t.getUint32(e+8,!a)+n;return i(t,4<r?n:e+8,r-1)};return{getArtist:function(t,e){function n(t){t=function(t){var e=new DataView(t),n=!1;if(1380533830==e.getUint32(0)&&1464156752==e.getUint32(8)&&1448097880==e.getUint32(12)){if(!(e.getUint8(20)&8))return!1;n=!0}else if(255!=e.getUint8(0)||216!=e.getUint8(1))return!1;var a=2,r=t.byteLength;if(n)for(a=16;a<r;){if(a+=e.getUint32(a,!0)+4,"EXIF"==i(e,a,4))return o(e,a,!0,e.getUint32(a,!0));a+=4}else for(;a<r;){if(255!=e.getUint8(a))return!1;if(225==e.getUint8(a+1))return o(e,a+4,!1,e.getUint16(a+2));a+=2+e.getUint16(a+2)}}(t);e.call(window,t||"")}var a=new XMLHttpRequest;a.onload=function(){200!=this.status&&0!==this.status||n(a.response),a=null},a.open("GET",t,!0),a.responseType="arraybuffer",a.send(null)}}}(),ECB.fast.isLoading=function(){for(var t=document.querySelectorAll(".-is-loading"),e=0;e<t.length;e++)t[e].insertAdjacentHTML("afterbegin","<div class='is-busy'> Loading ... </div>")},ECB.fast.langLinks=function(){if(ECB.fast.isEuLanguage=!!document.querySelector("#language-values a[lang="+ECB.currentLanguage+"]:not([specialLang])"),ECB.fast.isEuLanguage&&"en"!=ECB.currentLanguage)for(var t=document.querySelectorAll("a:not([lang]"),n=/\.[a-z]{2,3}(\.(html|pdf)([\?#].*)?)$/,e=0;e<t.length;e++){var a=t[e];a.hasAttribute("href")&&-1===a.getAttribute("href").indexOf(":")&&function(t){let e=t.getAttribute("href").match(n);return!!(e&&0<e.length)&&"en"==e[0].substr(1,2)}(a)&&a.setAttribute("href",a.getAttribute("href").replace(n,"."+ECB.currentLanguage+"$1"))}},ECB.fast.langSwitch=function(){var e,n;ECB.isLive&&(e=localStorage.getItem("lastLanguage"),(n=function(t){if(t&&ECB.currentLanguage!=t){t=document.querySelector("#language-values>a[lang="+t+"]");return t&&(document.location.href=t.href),!0}return!1})(e)||window.addEventListener("storage",function(t){"lastLanguage"==t.key&&t.newValue!=e&&n(t.newValue)}))},ECB.fast.loadImages=function(t){var n,e=t;t||(e=document);var a=function(t){var e=ECB.supports.webp&&t.getAttribute("data-image-webp")?t.getAttribute("data-image-webp"):t.getAttribute("data-image"),n=t;n.style.backgroundImage="url('"+e+"')",t.classList.contains("-inner")||ECB.fast.attribution(n),n.classList.add("loaded")};window.IntersectionObserver&&(n=new IntersectionObserver(function(t){for(var e=0;e<t.length;e++)t[e].isIntersecting&&(a(t[e].target),n.unobserve(t[e].target))},{rootMargin:"50%"}));for(var r=e.querySelectorAll("[data-image]"),i=0;i<r.length;i++)r[i].classList.contains("fast")||r[i].classList.contains("coin-cropper")||!n?a(r[i]):n.observe(r[i]);for(var o=e.querySelectorAll("picture img"),i=0;i<o.length;i++)ECB.fast.attribution(o[i])},ECB.fast.pageTitle=function(){var t=document.querySelector("main>.title h1");t&&0<t.innerText.length&&(document.title=t.innerText)},ECB.fast.random=function(t){Element.prototype.matches||(Element.prototype.matches=Element.prototype.msMatchesSelector||Element.prototype.webkitMatchesSelector);for(var e=(!t?document:t).querySelectorAll(".random"),n=0;n<e.length;n++){e[n].querySelectorAll(".random-item");var a=[];Array.prototype.slice.call(e[n].children).map(function(t){t.matches(".random-item")&&a.push(t)});var r=Math.floor(Math.random()*a.length);e[n].classList.contains("-daily")&&(r=(new Date).getDate()%a.length),a[r].classList.add("active");for(var i=0;i<a.length;i++)i!=r&&e[n].removeChild(a[i])}},ECB.fast.supportCheck=function(e){var n=new Image;n.onload=function(t){"load"==t.type&&1==n.width&&(document.documentElement.classList.add("webp"),ECB.supports.webp=!0),e&&e()},n.onerror=function(){e&&e()},n.src="data:image/webp;base64,UklGRiQAAABXRUJQVlA4IBgAAAAwAQCdASoBAAEAAwA0JaQAA3AA/vuUAAA="},ECB.fast.tempFixes=function(){!function(t,e){for(var n=document.querySelectorAll(t),a=0;a<n.length;a++)e(n[a])}(".table .wrapper h3",function(t){var e=t.parentElement.parentElement,n=document.createElement("div");n.classList.add("header"),n.innerHTML='<div class="title">'+t.innerHTML+"</div>",t.parentElement.removeChild(t),e.prepend(n)})},ECB.fast.supportCheck(function(){function t(){ECB.jsForContentOnly||ECB.fast.pageTitle(),ECB.fast.tempFixes(),ECB.fast.random(),ECB.fast.loadImages(),ECB.fast.langLinks(),ECB.fast.connector(),ECB.fast.annexSwap(),ECB.fast.isLoading(),ECB.fast.authorMove()}"loading"!==document.readyState?t():window.addEventListener("DOMContentLoaded",t)}); </script> <script type="text/javascript" async src="/shared/dist/js/slow.min.js?v=2728911"></script> </head> <body class="project-ecb section-press sub-press_conference "> <div id="skip-links"> <div class="skip-links-content"> <span>Skip to:</span> <a href="#navwrapper"><span class="sr-only">Skip to </span>navigation</a> <a href="#main-content"><span class="sr-only">Skip to </span>content</a> <a href="#ecb-doc-footer"><span class="sr-only">Skip to </span>footer</a> </div> </div> <header id="ecb-doc-header" class="v2"> <div class="headerHolder"> <button id="toggle-sticky-nav" aria-haspopup="true" ></button> <div class="logo-name"> <a href="/home/html/index.en.html" alt="Go to our homepage"> <img src="/shared/img/logo/logo_name.en.svg" alt="European Central Bank - eurosystem"> </a> </div> <div class="logo-name-mobile"> <a href="/home/html/index.en.html" alt="Go to our homepage"> <img src="/shared/img/logos_mobile/ECB_Eurosystem_OneLineLogo_Mobile_EN.svg" alt="European Central Bank - eurosystem"> </a> </div> <div id="language-selector-holder" role="button" title="Select language"> <div id="language-selector"></div> <div id="language-selected" aria-haspopup="true"><i></i><span class="ecb-full">EN</span></div> <div id="language-values"> <a href="index.bg.html" class="available" lang="bg" title="Български"><span class="ecb-full">Български</span></a><a href="index.cs.html" class="available" lang="cs" title="Čeština"><span class="ecb-full">Čeština</span></a><a href="index.da.html" class="available" lang="da" title="Dansk"><span class="ecb-full">Dansk</span></a><a href="index.de.html" class="available" lang="de" title="Deutsch"><span class="ecb-full">Deutsch</span></a><a href="index.el.html" class="available" lang="el" title="Eλληνικά"><span class="ecb-full">Eλληνικά</span></a><a href="index.en.html" class="selected available" lang="en" title="English"><span class="ecb-full">English</span></a><a href="index.es.html" class="available" lang="es" title="Español"><span class="ecb-full">Español</span></a><a href="index.et.html" class="available" lang="et" title="Eesti keel"><span class="ecb-full">Eesti keel</span></a><a href="index.fi.html" class="available" lang="fi" title="Suomi"><span class="ecb-full">Suomi</span></a><a href="index.fr.html" class="available" lang="fr" title="Français"><span class="ecb-full">Français</span></a><a href="index.ga.html" class="available" lang="ga" title="Gaeilge"><span class="ecb-full">Gaeilge</span></a><a href="index.hr.html" class="available" lang="hr" title="Hrvatski"><span class="ecb-full">Hrvatski</span></a><a href="index.hu.html" class="available" lang="hu" title="Magyar"><span class="ecb-full">Magyar</span></a><a href="index.it.html" class="available" lang="it" title="Italiano"><span class="ecb-full">Italiano</span></a><a href="index.lt.html" class="available" lang="lt" title="Lietuvių"><span class="ecb-full">Lietuvių</span></a><a href="index.lv.html" class="available" lang="lv" title="Latviešu"><span class="ecb-full">Latviešu</span></a><a href="index.mt.html" class="available" lang="mt" title="Malti"><span class="ecb-full">Malti</span></a><a href="index.nl.html" class="available" lang="nl" title="Nederlands"><span class="ecb-full">Nederlands</span></a><a href="index.pl.html" class="available" lang="pl" title="Polski"><span class="ecb-full">Polski</span></a><a href="index.pt.html" class="available" lang="pt" title="Português"><span class="ecb-full">Português</span></a><a href="index.ro.html" class="available" lang="ro" title="Română"><span class="ecb-full">Română</span></a><a href="index.sk.html" class="available" lang="sk" title="Slovenčina"><span class="ecb-full">Slovenčina</span></a><a href="index.sl.html" class="available" lang="sl" title="Slovenščina"><span class="ecb-full">Slovenščina</span></a><a href="index.sv.html" class="available" lang="sv" title="Svenska"><span class="ecb-full">Svenska</span></a> </div> </div> <button id="hamburger" aria-haspopup="true" > Menu <div class="icon"> <div class="line-outer"> <div class="line-inner"></div> </div> <div class="line-outer"> <div class="line-inner"></div> </div> <div class="line-outer"> <div class="line-inner"></div> </div> </div> </button> <div class="logo"> <a href="/home/html/index.en.html" alt="Go to our homepage"> <img src="/shared/img/logo/logo_only.svg" alt="our logo, a yellow Euro sign surrounded by yellow stars centered in a dark blue circle resting on a dark blue base"> </a> </div> <nav id="navwrapper" role="navigation" aria-label="Main navigation"><div id="mainnav"><ul><li class="has-subpages" aria-expanded="false"><a href="/mopo/html/index.en.html">Monetary policy & markets</a><a href="#" class="subpages" title="toggle subpages for Monetary policy & markets"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Monetary policy & markets</div> <p>Our monetary policy strategy, the tools we use and the impact they have</p> <a href="/mopo/html/index.en.html">Overview of monetary policy and markets</a> <hr> <div class="nav-title">Quick links</div> <ul> <li><a href="/ecb/educational/explainers/tell-me/html/what-is-monetary-policy.en.html">What is monetary policy?</a></li> <li><a href="/mopo/strategy/strategy-review/html/index.en.html">Strategy review</a></li> <li><a href="/mopo/implement/app/html/index.en.html">Asset purchase programmes</a></li> </ul> </div> <a href="/press/press_conference/html/index.en.html" class="item image"> <img src="/press/tvservices/html/index/ECB press conference place holder new_2560x1440.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"> <div class="image-caption">Latest monetary policy press conference</div> <div class="image-date">17 October 2024</div> </a> </div></div><ul><li class="has-subpages"><a href="/mopo/intro/html/index.en.html">Introduction</a><a href="#" class="subpages" title="toggle subpages for Introduction"></a><ul><li class="clearfix"><a href="/mopo/intro/benefits/html/index.en.html">Benefits of price stability</a></li><li class="clearfix"><a href="/mopo/intro/role/html/index.en.html">Scope of monetary policy</a></li><li class="clearfix"><a href="/mopo/intro/transmission/html/index.en.html">Transmission mechanism</a></li></ul></li><li class="clearfix"><a href="/mopo/decisions/html/index.en.html">Decisions, statements & accounts</a></li><li class="has-subpages"><a href="/mopo/strategy/html/index.en.html">Monetary policy strategy</a><a href="#" class="subpages" title="toggle subpages for Monetary policy strategy"></a><ul><li class="clearfix"><a href="/mopo/strategy/strategy-review/html/index.en.html">Strategy review</a></li><li class="clearfix"><a href="/mopo/strategy/medium-term-orientation/html/index.en.html">Medium-term orientation</a></li><li class="clearfix"><a href="/mopo/strategy/pricestab/html/index.en.html">Two per cent inflation target</a></li></ul></li><li class="has-subpages"><a href="/mopo/devel/html/index.en.html">Economic, monetary and financial analysis</a><a href="#" class="subpages" title="toggle subpages for Economic, monetary and financial analysis"></a><ul><li class="clearfix"><a href="/mopo/devel/ecana/html/index.en.html">Economic analysis</a></li><li class="clearfix"><a href="/mopo/devel/monan/html/index.en.html">Monetary and financial analysis</a></li></ul></li><li class="has-subpages"><a href="/mopo/implement/html/index.en.html">Instruments</a><a href="#" class="subpages" title="toggle subpages for Instruments"></a><ul><li class="has-subpages"><a href="/mopo/implement/omo/html/index.en.html">Open market operations</a><a href="#" class="subpages" title="toggle subpages for Open market operations"></a><ul><li class="clearfix"><a href="/mopo/implement/omo/tltro/html/index.en.html">TLTROs</a></li></ul></li><li class="has-subpages"><a href="/mopo/implement/app/html/index.en.html">Asset purchase programmes</a><a href="#" class="subpages" title="toggle subpages for Asset purchase programmes"></a><ul><li class="clearfix"><a href="/mopo/implement/app/lending/html/index.en.html">Securities lending</a></li></ul></li><li class="clearfix"><a href="/mopo/implement/pepp/html/index.en.html">Pandemic emergency purchase programme</a></li><li class="clearfix"><a href="/mopo/implement/sf/html/index.en.html">Standing facilities</a></li><li class="has-subpages"><a href="/mopo/implement/mr/html/index.en.html">Minimum reserves</a><a href="#" class="subpages" title="toggle subpages for Minimum reserves"></a><ul><li class="clearfix"><a href="/mopo/implement/mr/two-tier/html/index.en.html">Two-tier system</a></li></ul></li></ul></li><li class="has-subpages"><a href="/mopo/international-market-operations/html/index.en.html">International market operations</a><a href="#" class="subpages" title="toggle subpages for International market operations"></a><ul><li class="clearfix"><a href="/mopo/international-market-operations/liquidity_lines/html/index.en.html">Euro central bank liquidity lines</a></li></ul></li><li class="clearfix"><a href="/mopo/ela/html/index.en.html">Emergency liquidity assistance (ELA)</a></li><li class="clearfix"><a href="/mopo/liq/html/index.en.html">Liquidity analysis</a></li><li class="has-subpages"><a href="/mopo/coll/html/index.en.html">Collateral</a><a href="#" class="subpages" title="toggle subpages for Collateral"></a><ul><li class="has-subpages"><a href="/mopo/coll/standards/html/index.en.html">Eligibility criteria and assessment</a><a href="#" class="subpages" title="toggle subpages for Eligibility criteria and assessment"></a><ul><li class="clearfix"><a href="/mopo/coll/standards/marketable/html/index.en.html">Marketable assets</a></li><li class="clearfix"><a href="/mopo/coll/standards/nonmarketable/html/index.en.html">Non-marketable assets</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/assets/html/index.en.html">List of eligible marketable assets</a><a href="#" class="subpages" title="toggle subpages for List of eligible marketable assets"></a><ul><li class="clearfix"><a href="/mopo/coll/assets/guide/html/index.en.html">User guide</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/coll/html/index.en.html">Mobilising collateral</a><a href="#" class="subpages" title="toggle subpages for Mobilising collateral"></a><ul><li class="clearfix"><a href="/mopo/coll/coll/ccbm/html/index.en.html">CCBM</a></li><li class="clearfix"><a href="/mopo/coll/coll/eligiblesss/html/index.en.html">Eligible SSSs</a></li><li class="clearfix"><a href="/mopo/coll/coll/ssslinks/html/index.en.html">Eligible links</a></li><li class="clearfix"><a href="/mopo/coll/coll/triparty/html/index.en.html">Eligible triparty agents</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/risk/html/index.en.html">Risk mitigation</a><a href="#" class="subpages" title="toggle subpages for Risk mitigation"></a><ul><li class="clearfix"><a href="/mopo/coll/risk/ecaf/html/index.en.html">ECAF</a></li><li class="clearfix"><a href="/mopo/coll/risk/riskcontrol/html/index.en.html">Risk control</a></li><li class="clearfix"><a href="/mopo/coll/risk/liquidity/html/index.en.html">Haircut categories</a></li><li class="clearfix"><a href="/mopo/coll/risk/valuation/html/index.en.html">Valuation</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/loanlevel/html/index.en.html">Loan-level requirements</a><a href="#" class="subpages" title="toggle subpages for Loan-level requirements"></a><ul><li class="clearfix"><a href="/mopo/coll/loanlevel/transmission/html/index.en.html">Data templates</a></li><li class="clearfix"><a href="/mopo/coll/loanlevel/implementation/html/index.en.html">Eligibility requirements</a></li><li class="clearfix"><a href="/mopo/coll/loanlevel/faq/html/index.en.html">Frequently asked questions</a></li></ul></li><li class="clearfix"><a href="/mopo/coll/contacts/html/index.en.html">Contacts</a></li></ul></li><li class="has-subpages"><a href="/mopo/eaec/html/index.en.html">Structure of the euro area economy</a><a href="#" class="subpages" title="toggle subpages for Structure of the euro area economy"></a><ul><li class="clearfix"><a href="/mopo/eaec/ecopolicy/html/index.en.html">Economic policy</a></li><li class="clearfix"><a href="/mopo/eaec/fiscal/html/index.en.html">Fiscal policies</a></li><li class="clearfix"><a href="/mopo/eaec/trade/html/index.en.html">External trade</a></li><li class="clearfix"><a href="/mopo/eaec/eer/html/index.en.html">Effective exchange rates</a></li><li class="clearfix"><a href="/mopo/eaec/structure/html/index.en.html">Financial structure</a></li><li class="clearfix"><a href="/mopo/eaec/markets/html/index.en.html">Financial markets</a></li><li class="clearfix"><a href="/mopo/eaec/intermediaries/html/index.en.html">Financial intermediaries</a></li><li class="clearfix"><a href="/mopo/eaec/diversity/html/index.en.html">Economic diversity</a></li><li class="clearfix"><a href="/mopo/eaec/labour/html/index.en.html">Labour market</a></li></ul></li><li class="has-subpages"><a href="/mopo/market-contact-groups/html/index.en.html">Market contact groups</a><a href="#" class="subpages" title="toggle subpages for Market contact groups"></a><ul><li class="clearfix"><a href="/mopo/market-contact-groups/bmcg/html/index.en.html">Bond market (BMCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/mmcg/html/index.en.html">Money market (MMCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/dimcg/html/index.en.html">Debt Issuance Market Contact Group (DIMCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/omg/html/index.en.html">ECB Operations managers group (ECB OMG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/fxcg/html/index.en.html">Foreign exchange (FXCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/iid/html/index.en.html">Institutional Investor Dialogue (IID)</a></li></ul></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/paym/html/index.en.html">Payments & financial stability</a><a href="#" class="subpages" title="toggle subpages for Payments & financial stability"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Payments & financial stability</div> <p>Insights into our work on financial stability and payments infrastructure</p> <a href="/paym/html/index.en.html">Overview of payments and financial stability</a> <hr> <div class="nav-title">Quick links</div> <ul> <li><a href="/euro/digital_euro/html/index.en.html">Digital euro</a></li> <li><a href="/press/intro/html/index.en.html">Payments news</a></li> <li><a href="/paym/target/target-professional-use-documents-links/html/index.en.html">TARGET professional use documents and links</a></li> </ul> </div> <a href="/pub/financial-stability/fsr/html/index.en.html" class="item image"> <img src="/paym/financial-stability/html/index/fsr_1000x750.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"> <div class="image-caption">Latest Financial Stability Review</div> <div class="image-date">16 May 2024</div> </a> </div></div><ul><li class="clearfix"><span>Payments</span></li><li class="has-subpages"><a href="/paym/target/html/index.en.html">TARGET Services</a><a href="#" class="subpages" title="toggle subpages for TARGET Services"></a><ul><li class="clearfix"><a href="/paym/target/coco/html/index.en.html">Shared features</a></li><li class="has-subpages"><a href="/paym/target/t2/html/index.en.html">T2</a><a href="#" class="subpages" title="toggle subpages for T2"></a><ul><li class="clearfix"><a href="/paym/target/t2/facts/html/index.en.html">Facts and figures</a></li><li class="clearfix"><a href="/paym/target/t2/governance/html/index.en.html">Governance</a></li></ul></li><li class="has-subpages"><a href="/paym/target/t2s/html/index.en.html">T2S</a><a href="#" class="subpages" title="toggle subpages for T2S"></a><ul><li class="clearfix"><a href="/paym/target/t2s/governance/html/index.en.html">Governance</a></li><li class="clearfix"><a href="/paym/target/t2s/facts/html/index.en.html">Facts and figures</a></li><li class="clearfix"><a href="/paym/target/t2s/pricing/html/index.en.html">Pricing</a></li></ul></li><li class="has-subpages"><a href="/paym/target/tips/html/index.en.html">TIPS</a><a href="#" class="subpages" title="toggle subpages for TIPS"></a><ul><li class="clearfix"><a href="/paym/target/tips/governance/html/index.en.html">Governance</a></li><li class="clearfix"><a href="/paym/target/tips/facts/html/index.en.html">Facts and figures</a></li><li class="clearfix"><a href="/paym/target/tips/onboarding/html/index.en.html">Onboarding</a></li></ul></li><li class="clearfix"><a href="/paym/target/ecms/html/index.en.html">ECMS</a></li><li class="has-subpages"><a href="/paym/target/target-professional-use-documents-links/html/index.en.html">TARGET professional use documents & links</a><a href="#" class="subpages" title="toggle subpages for TARGET professional use documents & links"></a><ul><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/coco/html/index.en.html">Shared features documents & links</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/t2/html/index.en.html">T2 documents & links</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/t2s/html/index.en.html">T2S documents & links</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/tips/html/index.en.html">TIPS documents & links</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/ecms/html/index.en.html">ECMS documents & links</a></li></ul></li></ul></li><li class="has-subpages"><a href="/paym/integration/html/index.en.html">Integration and innovation</a><a href="#" class="subpages" title="toggle subpages for Integration and innovation"></a><ul><li class="has-subpages"><a href="/paym/integration/distributed/html/index.en.html">Distributed ledger technologies</a><a href="#" class="subpages" title="toggle subpages for Distributed ledger technologies"></a><ul><li class="clearfix"><a href="/paym/integration/distributed/exploratory/html/index.en.html">Exploratory work</a></li></ul></li><li class="has-subpages"><a href="/paym/integration/retail/html/index.en.html">Retail payments</a><a href="#" class="subpages" title="toggle subpages for Retail payments"></a><ul><li class="clearfix"><a href="/paym/integration/retail/retail_payments_strategy/html/index.en.html">Retail payments strategy</a></li><li class="clearfix"><a href="/paym/integration/retail/ecb/html/index.en.html">ECB as a catalyst</a></li><li class="clearfix"><a href="/paym/integration/retail/sepa/html/index.en.html">SEPA</a></li><li class="clearfix"><a href="/paym/integration/retail/instant_payments/html/index.en.html">Instant payments</a></li></ul></li><li class="has-subpages"><a href="/paym/integration/collateral/html/index.en.html">Collateral management harmonisation</a><a href="#" class="subpages" title="toggle subpages for Collateral management harmonisation"></a><ul><li class="clearfix"><a href="/paym/integration/collateral/implementation/html/index.en.html">Implementation</a></li><li class="clearfix"><a href="/paym/integration/collateral/faq/html/index.en.html">FAQ</a></li></ul></li></ul></li><li class="has-subpages"><a href="/paym/cyber-resilience/html/index.en.html">Cyber resilience</a><a href="#" class="subpages" title="toggle subpages for Cyber resilience"></a><ul><li class="clearfix"><a href="/paym/cyber-resilience/fmi/html/index.en.html">Financial market infrastructures</a></li><li class="clearfix"><a href="/paym/cyber-resilience/tiber-eu/html/index.en.html">TIBER-EU</a></li></ul></li><li class="has-subpages"><a href="/paym/pol/html/index.en.html">Oversight</a><a href="#" class="subpages" title="toggle subpages for Oversight"></a><ul><li class="clearfix"><a href="/paym/pol/systems/html/index.en.html">Payment systems</a></li><li class="clearfix"><a href="/paym/pol/target2-securities/html/index.en.html">TARGET2-Securities</a></li><li class="clearfix"><a href="/paym/pol/instr/html/index.en.html">Electronic payments</a></li><li class="clearfix"><a href="/paym/pol/clearing/html/index.en.html">Securities settlement systems and central counterparties</a></li><li class="clearfix"><a href="/paym/pol/critical/html/index.en.html">Critical service providers</a></li><li class="clearfix"><a href="/paym/pol/correspondent-and-custodian-banks/html/index.en.html">Correspondent and custodian banks</a></li><li class="clearfix"><a href="/paym/pol/forum/html/index.en.html">SecuRe Pay forum</a></li></ul></li><li class="has-subpages"><a href="/paym/erms/html/index.en.html">Reserve management services</a><a href="#" class="subpages" title="toggle subpages for Reserve management services"></a><ul><li class="clearfix"><a href="/paym/erms/aspects/html/index.en.html">Key aspects</a></li><li class="clearfix"><a href="/paym/erms/service/html/index.en.html">Range of services</a></li></ul></li><li class="has-subpages"><a href="/paym/cashprof/html/index.en.html">Cash professionals</a><a href="#" class="subpages" title="toggle subpages for Cash professionals"></a><ul><li class="has-subpages"><a href="/paym/cashprof/cashhand/html/index.en.html">Cash handling</a><a href="#" class="subpages" title="toggle subpages for Cash handling"></a><ul><li class="clearfix"><a href="/paym/cashprof/cashhand/devices/html/index.en.html">Authentication devices</a></li><li class="clearfix"><a href="/paym/cashprof/cashhand/recycling/html/index.en.html">Recirculation of banknotes</a></li></ul></li><li class="clearfix"><a href="/paym/cashprof/cdispec/html/index.en.html">Common detector interface specifications</a></li><li class="clearfix"><a href="/paym/cashprof/accreditation/html/index.en.html">Banknote manufacturer accreditation</a></li></ul></li><li class="has-subpages"><a href="/paym/groups/html/index.en.html">Payment contact groups</a><a href="#" class="subpages" title="toggle subpages for Payment contact groups"></a><ul><li class="clearfix"><a href="/paym/groups/ami/html/index.en.html">Advisory groups on market infrastructures</a></li><li class="clearfix"><a href="/paym/groups/euro-cyber-board/html/index.en.html">Euro Cyber Resilience Board</a></li><li class="clearfix"><a href="/paym/groups/erpb/html/index.en.html">Euro Retail Payments Board (ERPB)</a></li><li class="clearfix"><a href="/paym/groups/efip/html/index.en.html">European Forum for Innovation in Payments (EFIP)</a></li></ul></li><li class="clearfix"><span>Financial stability</span></li><li class="clearfix"><a href="/paym/financial-stability/html/index.en.html">Introduction to financial stability</a></li><li class="clearfix"><a href="/paym/macroprudential-measures/html/index.en.html">Macroprudential Measures</a></li><li class="clearfix"><a href="/paym/financial_stability_contact_groups/html/index.en.html">Financial stability contact groups</a></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/stats/html/index.en.html">Statistics</a><a href="#" class="subpages" title="toggle subpages for Statistics"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Statistics</div> <p>Access to all ECB statistics and background information</p> <a href="/stats/html/index.en.html">Overview of ECB statistics</a> <hr> <div class="nav-title">Quick links</div> <ul> <li><a href="https://data.ecb.europa.eu/main-figures">Main figures</a></li> <li><a href="https://data.ecb.europa.eu/">ECB Data Portal</a></li> <li><a href="/press/stats/html/index.en.html">Statistical releases</a></li> </ul> </div> <a href="/press/blog/date/2024/html/ecb.blog20240418~2240ea1850.en.html" class="item image"> <img src="/press/blog/date/2024/html//ecb.blog20240418~2240ea1850/ecb.blog20240418~2240ea1850.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"> <div class="image-caption">THE ECB BLOG - Improved data: how climate change impacts banks</div> <div class="image-date">18 April 2024</div> </a> </div></div><ul><li class="clearfix"><span>Frequently accessed</span></li><li class="clearfix"><a href="/stats/euro-exchange-rates/html/index.en.html">Euro exchange rates</a></li><li class="clearfix"><a href="/stats/key-ecb-interest-rates/html/index.en.html">Key ECB interest rates</a></li><li class="has-subpages"><a href="/stats/euro-short-term-rates/html/index.en.html">Euro short-term rate (€STR)</a><a href="#" class="subpages" title="toggle subpages for Euro short-term rate (€STR)"></a><ul><li class="has-subpages"><a href="/stats/euro-short-term-rates/interest_rate_benchmarks/html/index.en.html">Interest rate benchmarks</a><a href="#" class="subpages" title="toggle subpages for Interest rate benchmarks"></a><ul><li class="clearfix"><a href="/stats/euro-short-term-rates/interest_rate_benchmarks/WG_euro_risk-free_rates/html/index.en.html">Working group on euro risk-free rates</a></li></ul></li></ul></li><li class="clearfix"><a href="/stats/inflation/html/index.en.html">Inflation</a></li><li class="clearfix"><a href="/stats/euro-area-yield-curves/html/index.en.html">Euro area yield curves</a></li><li class="clearfix"><span>All statistics & background</span></li><li class="clearfix"><a href="/stats/all-key-statistics/html/index.en.html">All key statistics</a></li><li class="clearfix"><a href="/stats/accessing-our-data/html/index.en.html">All data services</a></li><li class="has-subpages"><a href="/stats/ecb_statistics/html/index.en.html">Data reporting & standards</a><a href="#" class="subpages" title="toggle subpages for Data reporting & standards"></a><ul><li class="clearfix"><a href="/stats/ecb_statistics/governance_and_quality_framework/html/index.en.html">Governance and quality framework</a></li><li class="clearfix"><a href="/stats/ecb_statistics/co-operation_and_standards/html/index.en.html">Co-operation and standards</a></li><li class="clearfix"><a href="/stats/ecb_statistics/reporting/html/index.en.html">Banks’ data reporting</a></li><li class="has-subpages"><a href="/stats/ecb_statistics/anacredit/html/index.en.html">AnaCredit</a><a href="#" class="subpages" title="toggle subpages for AnaCredit"></a><ul><li class="clearfix"><a href="/stats/ecb_statistics/anacredit/questions/html/index.en.html">AnaCredit Q&A</a></li></ul></li><li class="clearfix"><a href="/stats/ecb_statistics/consultations/html/index.en.html">Public consultations</a></li><li class="clearfix"><a href="/stats/ecb_statistics/dialogue/html/index.en.html">Banking industry dialogue on ESCB statistics and integrated reporting</a></li><li class="clearfix"><a href="/stats/ecb_statistics/sdmx/html/index.en.html">SDMX – statistical data exchange model</a></li><li class="clearfix"><a href="/stats/ecb_statistics/inexda/html/index.en.html">INEXDA - granular data network</a></li></ul></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/euro/html/index.en.html">The euro</a><a href="#" class="subpages" title="toggle subpages for The euro"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">The euro</div> <p>All you need to know about our common currency</p> <a href="/euro/html/index.en.html">Overview of the euro</a> <hr> <div class="nav-title">Quick links</div> <ul> <li><a href="/paym/cashprof/html/index.en.html">Cash professionals</a></li> <li><a href="/stats/policy_and_exchange_rates/banknotes+coins/html/index.en.html">Banknote and coins statistics</a></li> <li><a href="/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/index.en.html">Euro exchange rates</a></li> </ul> </div> <a href="/euro/digital_euro/progress/html/index.en.html" class="item image"> <img src="/euro/digital_euro/shared/img/Digital Euro_Website_Homepage-Box-eurosign_1000x750.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"> <div class="image-caption">First progress report on the preparation phase of a digital euro</div> <div class="image-date">24 June 2024</div> </a> </div></div><ul><li class="has-subpages"><a href="/euro/digital_euro/html/index.en.html">Digital euro</a><a href="#" class="subpages" title="toggle subpages for Digital euro"></a><ul><li class="has-subpages"><a href="/euro/digital_euro/features/html/index.en.html">What it is</a><a href="#" class="subpages" title="toggle subpages for What it is"></a><ul><li class="clearfix"><a href="/euro/digital_euro/features/privacy/html/index.en.html">Digital euro and privacy</a></li></ul></li><li class="clearfix"><a href="/euro/digital_euro/how-it-works/html/index.en.html">How it works</a></li><li class="clearfix"><a href="/euro/digital_euro/why-we-need-it/html/index.en.html">Why we need it</a></li><li class="clearfix"><a href="/euro/digital_euro/progress/html/index.en.html">Timeline and progress</a></li><li class="has-subpages"><a href="/euro/digital_euro/timeline/html/index.en.html">In-depth information</a><a href="#" class="subpages" title="toggle subpages for In-depth information"></a><ul><li class="clearfix"><a href="/euro/digital_euro/timeline/stakeholder/html/index.en.html">Governance and stakeholder engagement</a></li><li class="clearfix"><a href="/euro/digital_euro/timeline/profuse/html/index.en.html">Technical documents and research</a></li><li class="clearfix"><a href="/euro/digital_euro/timeline/rulebook/html/index.en.html">Scheme rulebook</a></li></ul></li><li class="clearfix"><a href="/euro/digital_euro/faqs/html/index.en.html">Frequently asked questions</a></li></ul></li><li class="clearfix"><span>Cash</span></li><li class="has-subpages"><a href="/euro/cash_strategy/html/index.en.html">The Eurosystem cash strategy</a><a href="#" class="subpages" title="toggle subpages for The Eurosystem cash strategy"></a><ul><li class="clearfix"><a href="/euro/cash_strategy/cash_role/html/index.en.html">The role of cash</a></li><li class="clearfix"><a href="/euro/cash_strategy/issuance/html/index.en.html">Issuance and circulation</a></li><li class="clearfix"><a href="/euro/cash_strategy/acceptance-cash/html/index.en.html">Access to and acceptance of cash</a></li><li class="clearfix"><a href="/euro/cash_strategy/faqs/html/index.en.html">Frequently asked questions</a></li></ul></li><li class="has-subpages"><a href="/euro/banknotes/html/index.en.html">Banknotes</a><a href="#" class="subpages" title="toggle subpages for Banknotes"></a><ul><li class="has-subpages"><a href="/euro/banknotes/future_banknotes/html/index.en.html">Future banknotes</a><a href="#" class="subpages" title="toggle subpages for Future banknotes"></a><ul><li class="clearfix"><a href="/euro/banknotes/future_banknotes/redesign/html/index.en.html">Redesign process</a></li></ul></li><li class="has-subpages"><a href="/euro/banknotes/current/html/index.en.html">Current banknotes</a><a href="#" class="subpages" title="toggle subpages for Current banknotes"></a><ul><li class="clearfix"><a href="/euro/banknotes/current/denominations/html/index.en.html">Denominations</a></li><li class="clearfix"><a href="/euro/banknotes/current/design/html/index.en.html">Design elements</a></li><li class="clearfix"><a href="/euro/banknotes/current/security/html/index.en.html">Security features</a></li></ul></li><li class="clearfix"><a href="/euro/banknotes/ac/html/index.en.html">Anti-counterfeiting</a></li><li class="clearfix"><a href="/euro/banknotes/production/html/index.en.html">Banknote production and stocks</a></li><li class="clearfix"><a href="/euro/banknotes/damaged/html/index.en.html">Damaged and inked-stained banknotes</a></li><li class="has-subpages"><a href="/euro/banknotes/environmental/html/index.en.html">Environment, health and safety</a><a href="#" class="subpages" title="toggle subpages for Environment, health and safety"></a><ul><li class="clearfix"><a href="/euro/banknotes/environmental/pef/html/index.en.html">Product environmental footprint</a></li></ul></li><li class="clearfix"><a href="/euro/banknotes/research/html/index.en.html">Research and development</a></li><li class="clearfix"><a href="/euro/banknotes/images/html/index.en.html">Images and reproduction rules</a></li><li class="clearfix"><a href="/euro/banknotes/info/html/index.en.html">Information and training materials</a></li></ul></li><li class="has-subpages"><a href="/euro/coins/html/index.en.html">Coins</a><a href="#" class="subpages" title="toggle subpages for Coins"></a><ul><li class="clearfix"><a href="/euro/coins/2euro/html/index.en.html">€2</a></li><li class="clearfix"><a href="/euro/coins/1euro/html/index.en.html">€1</a></li><li class="clearfix"><a href="/euro/coins/50cents/html/index.en.html">50 cent</a></li><li class="clearfix"><a href="/euro/coins/20cents/html/index.en.html">20 cent</a></li><li class="clearfix"><a href="/euro/coins/10cents/html/index.en.html">10 cent</a></li><li class="clearfix"><a href="/euro/coins/5cents/html/index.en.html">5 cent</a></li><li class="clearfix"><a href="/euro/coins/2cents/html/index.en.html">2 cent</a></li><li class="clearfix"><a href="/euro/coins/1cent/html/index.en.html">1 cent</a></li><li class="clearfix"><a href="/euro/coins/common/html/index.en.html">Common sides</a></li><li class="clearfix"><a href="/euro/coins/comm/html/index.en.html">€2 commemorative coins</a></li><li class="clearfix"><a href="/euro/coins/security/html/index.en.html">Security features</a></li><li class="clearfix"><a href="/euro/coins/collect/html/index.en.html">Collector coins</a></li></ul></li><li class="has-subpages"><a href="/euro/changeover/html/index.en.html">Joining the euro area</a><a href="#" class="subpages" title="toggle subpages for Joining the euro area"></a><ul><li class="clearfix"><a href="/euro/changeover/croatia/html/index.en.html">Croatia (2023)</a></li><li class="clearfix"><a href="/euro/changeover/lithuania/html/index.en.html">Lithuania (2015)</a></li><li class="clearfix"><a href="/euro/changeover/latvia/html/index.en.html">Latvia (2014)</a></li><li class="clearfix"><a href="/euro/changeover/estonia/html/index.en.html">Estonia (2011)</a></li><li class="clearfix"><a href="/euro/changeover/slovakia/html/index.en.html">Slovakia (2009)</a></li><li class="clearfix"><a href="/euro/changeover/cyprus/html/index.en.html">Cyprus (2008)</a></li><li class="clearfix"><a href="/euro/changeover/malta/html/index.en.html">Malta (2008)</a></li><li class="clearfix"><a href="/euro/changeover/slovenia/html/index.en.html">Slovenia (2007)</a></li><li class="clearfix"><a href="/euro/changeover/2002/html/index.en.html">Initial changeover (2002)</a></li></ul></li><li class="has-subpages"><a href="/euro/exchange/html/index.en.html">Exchanging national cash</a><a href="#" class="subpages" title="toggle subpages for Exchanging national cash"></a><ul><li class="clearfix"><a href="/euro/exchange/au/html/index.en.html">Austria</a></li><li class="clearfix"><a href="/euro/exchange/be/html/index.en.html">Belgium</a></li><li class="clearfix"><a href="/euro/exchange/hr/html/index.en.html">Croatia</a></li><li class="clearfix"><a href="/euro/exchange/cy/html/index.en.html">Cyprus</a></li><li class="clearfix"><a href="/euro/exchange/et/html/index.en.html">Estonia</a></li><li class="clearfix"><a href="/euro/exchange/fi/html/index.en.html">Finland</a></li><li class="clearfix"><a href="/euro/exchange/fr/html/index.en.html">France</a></li><li class="clearfix"><a href="/euro/exchange/de/html/index.en.html">Germany</a></li><li class="clearfix"><a href="/euro/exchange/gr/html/index.en.html">Greece</a></li><li class="clearfix"><a href="/euro/exchange/ir/html/index.en.html">Ireland</a></li><li class="clearfix"><a href="/euro/exchange/it/html/index.en.html">Italy</a></li><li class="clearfix"><a href="/euro/exchange/lv/html/index.en.html">Latvia</a></li><li class="clearfix"><a href="/euro/exchange/lt/html/index.en.html">Lithuania</a></li><li class="clearfix"><a href="/euro/exchange/lu/html/index.en.html">Luxembourg</a></li><li class="clearfix"><a href="/euro/exchange/mt/html/index.en.html">Malta</a></li><li class="clearfix"><a href="/euro/exchange/nl/html/index.en.html">The Netherlands</a></li><li class="clearfix"><a href="/euro/exchange/pt/html/index.en.html">Portugal</a></li><li class="clearfix"><a href="/euro/exchange/slovakia/html/index.en.html">Slovakia</a></li><li class="clearfix"><a href="/euro/exchange/sl/html/index.en.html">Slovenia</a></li><li class="clearfix"><a href="/euro/exchange/es/html/index.en.html">Spain</a></li></ul></li><li class="clearfix"><a href="/euro/visually/html/index.en.html">Visually impaired people</a></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/pub/html/index.en.html">Research</a><a href="#" class="subpages" title="toggle subpages for Research"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Research</div> <p>In-depth studies and expert analyses covering diverse topics and fields</p> <a href="/pub/html/index.en.html">Overview of ECB research</a> <hr> <div class="nav-title">Quick links</div> <ul> <li><a href="/press/conferences/html/index.en.html">Conferences & seminars</a></li> <li><a href="/pub/economic-research/programmes/html/index.en.html">Opportunities for researchers</a></li> </ul> </div> <a href="/press/research-publications/resbull/html/index.en.html" class="item image"> <img src="/pub/html/index/research-bulletin_2560x800.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"> <div class="image-caption">Research Bulletin</div> </a> </div></div><ul><li class="has-subpages"><a href="/pub/economic-research/html/index.en.html">Economic research</a><a href="#" class="subpages" title="toggle subpages for Economic research"></a><ul><li class="has-subpages"><a href="/pub/economic-research/research_agenda/html/index.en.html">Research agenda</a><a href="#" class="subpages" title="toggle subpages for Research agenda"></a><ul><li class="clearfix"><a href="/pub/economic-research/research_agenda/monetary_policy/html/index.en.html">Monetary policy, strategy and implementation</a></li><li class="clearfix"><a href="/pub/economic-research/research_agenda/fiscal_policy/html/index.en.html">Fiscal policy and governance within EMU</a></li><li class="clearfix"><a href="/pub/economic-research/research_agenda/international/html/index.en.html">International macro and finance</a></li><li class="clearfix"><a href="/pub/economic-research/research_agenda/real_sector/html/index.en.html">Real sector and microeconomic analysis</a></li><li class="clearfix"><a href="/pub/economic-research/research_agenda/forecasting/html/index.en.html">Forecasting and business cycle analysis</a></li><li class="clearfix"><a href="/pub/economic-research/research_agenda/macro-finance/html/index.en.html">Macro-finance, systemic risk and macroprudential policy</a></li><li class="clearfix"><a href="/pub/economic-research/research_agenda/financial_institutions/html/index.en.html">Financial institutions, microprudential policy, financial markets and payments</a></li></ul></li><li class="has-subpages"><a href="/pub/economic-research/programmes/html/index.en.html">Opportunities for researchers</a><a href="#" class="subpages" title="toggle subpages for Opportunities for researchers"></a><ul><li class="clearfix"><a href="/pub/economic-research/programmes/duisenberg/html/index.en.html">Wim Duisenberg Fellowship</a></li><li class="clearfix"><a href="/pub/economic-research/programmes/visitors/html/index.en.html">Regular Research Visitors</a></li><li class="clearfix"><a href="/pub/economic-research/programmes/lamfalussy/html/index.en.html">Lamfalussy Fellowship</a></li><li class="clearfix"><a href="/pub/economic-research/programmes/graduate/html/index.en.html">Summer Research Graduate Programme</a></li><li class="clearfix"><a href="/pub/economic-research/programmes/traineeship/html/index.en.html">Student Research Traineeship Programme</a></li></ul></li></ul></li><li class="has-subpages"><a href="/pub/legal-research/html/index.en.html">Legal Research</a><a href="#" class="subpages" title="toggle subpages for Legal Research"></a><ul><li class="clearfix"><a href="/pub/legal-research/legal-conferences-and-seminars/html/index.en.html">Legal conferences and seminars</a></li><li class="clearfix"><a href="/pub/legal-research/legal-research-programme/html/index.en.html">Legal Research Programme</a></li></ul></li><li class="has-subpages"><a href="/pub/research/html/index.en.html">Research papers</a><a href="#" class="subpages" title="toggle subpages for Research papers"></a><ul><li class="clearfix"><a href="/pub/research/authors/html/index.en.html">Papers by authors</a></li></ul></li><li class="clearfix"><a href="/pub/researchers/html/index.en.html">ECB researchers</a></li><li class="clearfix"><a href="/pub/research-networks/html/index.en.html">Research networks</a></li></ul></div></li><li class="has-subpages -section" aria-expanded="false"><a href="/press/html/index.en.html">News & publications</a><a href="#" class="subpages" title="toggle subpages for News & publications"></a><div class="nav-first-level-wrap -nav-in-first-column"><div class="nav-featured-wrap"><div class="nav-featured"> <div class="item"> <div class="title">News & Publications</div> <a href="/press/pubbydate/html/index.en.html">Browse all news & publications</a> <hr> </div> </div><ul><li><span>News</span></li><li><a href="/press/pr/html/index.en.html">Press releases</a></li><li><a href="/press/stats/html/index.en.html">Statistical releases</a></li><li><a href="/press/key/html/index.en.html">Speeches</a></li><li><a href="/press/inter/html/index.en.html">Interviews</a></li><li><a href="/press/blog/html/index.en.html">The ECB Blog</a></li><li><a href="/press/tvservices/html/index.en.html">Podcasts & webcasts</a></li><li><a href="/press/intro/html/index.en.html">Payments news</a></li><li><a href="/press/contacts/html/index.en.html">Media contacts</a></li></ul></div><ul><li class="clearfix"><span>Publications</span></li><li class="has-subpages"><a href="/press/govcdec/html/index.en.html">Governing Council decisions</a><a href="#" class="subpages" title="toggle subpages for Governing Council decisions"></a><ul><li class="clearfix"><a href="/press/govcdec/mopo/html/index.en.html">Monetary policy decisions</a></li><li class="clearfix"><a href="/press/govcdec/otherdec/html/index.en.html">Other decisions</a></li></ul></li><li class="clearfix"><a href="/press/accounts/html/index.en.html">Monetary policy accounts</a></li><li class="has-subpages"><a href="/press/economic-bulletin/html/index.en.html">Economic Bulletin</a><a href="#" class="subpages" title="toggle subpages for Economic Bulletin"></a><ul><li class="clearfix"><a href="/press/economic-bulletin/articles/html/index.en.html">Articles</a></li><li class="clearfix"><a href="/press/economic-bulletin/focus/html/index.en.html">Focus</a></li><li class="clearfix"><a href="/press/economic-bulletin/mb/html/index.en.html">Monthly Bulletin</a></li></ul></li><li class="clearfix"><a href="/press/projections/html/index.en.html">Macroeconomic projections</a></li><li class="has-subpages"><a href="/press/annual-reports-financial-statements/html/index.en.html">Annual reports & financial statements</a><a href="#" class="subpages" title="toggle subpages for Annual reports & financial statements"></a><ul><li class="has-subpages"><a href="/press/annual-reports-financial-statements/annual/html/index.en.html">Annual Report</a><a href="#" class="subpages" title="toggle subpages for Annual Report"></a><ul><li class="clearfix"><a href="/press/annual-reports-financial-statements/annual/annual-accounts/html/index.en.html">Annual Accounts</a></li><li class="has-subpages"><a href="/press/annual-reports-financial-statements/annual/balance/html/index.en.html">Eurosystem balance sheet</a><a href="#" class="subpages" title="toggle subpages for Eurosystem balance sheet"></a><ul><li class="clearfix"><a href="/press/annual-reports-financial-statements/annual/balance/mpo/html/index.en.html">Monetary policy operations</a></li></ul></li></ul></li><li class="has-subpages"><a href="/press/annual-reports-financial-statements/wfs/html/index.en.html">Weekly financial statements</a><a href="#" class="subpages" title="toggle subpages for Weekly financial statements"></a><ul><li class="clearfix"><a href="/press/annual-reports-financial-statements/wfs/dis/html/index.en.html">Disaggregated data</a></li></ul></li></ul></li><li class="has-subpages"><a href="/press/financial-stability-publications/html/index.en.html">Financial stability publications</a><a href="#" class="subpages" title="toggle subpages for Financial stability publications"></a><ul><li class="has-subpages"><a href="/press/financial-stability-publications/fsr/html/index.en.html">Financial Stability Review</a><a href="#" class="subpages" title="toggle subpages for Financial Stability Review"></a><ul><li class="clearfix"><a href="/press/financial-stability-publications/fsr/special/html/index.en.html">Special features & boxes</a></li></ul></li><li class="clearfix"><a href="/press/financial-stability-publications/macroprudential-bulletin/html/index.en.html">Macroprudential Bulletin</a></li></ul></li><li class="has-subpages"><a href="/press/research-publications/html/index.en.html">Research publications</a><a href="#" class="subpages" title="toggle subpages for Research publications"></a><ul><li class="clearfix"><a href="/press/research-publications/resbull/html/index.en.html">Research Bulletin</a></li><li class="clearfix"><a href="/press/research-publications/working-papers/html/index.en.html">Working papers</a></li><li class="clearfix"><a href="/press/research-publications/discussion-papers/html/index.en.html">Discussion papers</a></li><li class="clearfix"><a href="/press/research-publications/occasional-papers/html/index.en.html">Occasional papers</a></li><li class="clearfix"><a href="/press/research-publications/legal-working-papers/html/index.en.html">Legal working papers</a></li><li class="clearfix"><a href="/press/research-publications/statistics-papers/html/index.en.html">Statistics papers</a></li></ul></li><li class="has-subpages"><a href="/press/other-publications/html/index.en.html">Other publications</a><a href="#" class="subpages" title="toggle subpages for Other publications"></a><ul><li class="clearfix"><a href="/press/other-publications/mep-letters/html/index.en.html">Letters to MEPs</a></li><li class="clearfix"><a href="/press/other-publications/convergence/html/index.en.html">Convergence Report</a></li><li class="clearfix"><a href="/press/other-publications/ire/html/index.en.html">International Role of the Euro</a></li></ul></li><li class="clearfix"><span>Events & calendars</span></li><li class="has-subpages -current"><a href="/press/press_conference/html/index.en.html">Monetary policy press conference</a><a href="#" class="subpages" title="toggle subpages for Monetary policy press conference"></a><ul><li class="clearfix"><a href="/press/press_conference/monetary-policy-statement/html/index.en.html">Monetary policy statements</a></li><li class="clearfix"><a href="/press/press_conference/visual-mps/html/index.en.html">Monetary policy statements at a glance</a></li></ul></li><li class="has-subpages"><a href="/press/conferences/html/index.en.html">Conferences & seminars</a><a href="#" class="subpages" title="toggle subpages for Conferences & seminars"></a><ul><li class="has-subpages"><a href="/press/conferences/ecbforum/html/index.en.html">Forum on Central Banking</a><a href="#" class="subpages" title="toggle subpages for Forum on Central Banking"></a><ul><li class="clearfix"><a href="/press/conferences/ecbforum/YE_competition/html/index.en.html">Young Economist Prize</a></li><li class="clearfix"><a href="/press/conferences/ecbforum/previous_fora/html/index.en.html">Past editions</a></li></ul></li><li class="clearfix"><a href="/press/conferences/civil_society_engagement/html/index.en.html">Civil society engagement</a></li></ul></li><li class="has-subpages"><a href="/press/calendars/html/index.en.html">Calendars</a><a href="#" class="subpages" title="toggle subpages for Calendars"></a><ul><li class="clearfix"><a href="/press/calendars/weekly/html/index.en.html">Weekly schedule</a></li><li class="clearfix"><a href="/press/calendars/mgcgc/html/index.en.html">Meetings of the Governing Council and the General Council</a></li><li class="has-subpages"><a href="/press/calendars/statscal/html/index.en.html">Statistical calendars</a><a href="#" class="subpages" title="toggle subpages for Statistical calendars"></a><ul><li class="clearfix"><a href="/press/calendars/statscal/mfm/html/index.en.html">Money, banking and financial markets</a></li><li class="clearfix"><a href="/press/calendars/statscal/eaa/html/index.en.html">Euro area economic and financial developments by institutional sector</a></li><li class="clearfix"><a href="/press/calendars/statscal/ext/html/index.en.html">External transactions and positions</a></li><li class="clearfix"><a href="/press/calendars/statscal/ges/html/index.en.html">Prices, output, demand and labour</a></li><li class="clearfix"><a href="/press/calendars/statscal/gf/html/index.en.html">Government finance</a></li><li class="clearfix"><a href="/press/calendars/statscal/sps/html/index.en.html">Supervisory and prudential statistics</a></li></ul></li><li class="clearfix"><a href="/press/calendars/caleu/html/index.en.html">Eurosystem's tender operations</a></li><li class="clearfix"><a href="/press/calendars/reserve/html/index.en.html">Reserve maintenance period</a></li></ul></li></ul></div></li><li class="clearfix -ssm" aria-expanded="false"><a href="https://www.bankingsupervision.europa.eu/home/html/index.en.html">Banking Supervision<i class="external"></i></a></li></ul></div><div id="topnav"><ul><li class="has-subpages" aria-expanded="false"><a href="/ecb/html/index.en.html">About us</a><a href="#" class="subpages" title="toggle subpages for About us"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"> <div class="item"> <div class="title">About us</div> <hr> </div> </div></div><ul><li class="clearfix"><a href="/ecb/all-about-us/html/index.en.html">All about us</a></li><li class="has-subpages"><a href="/ecb/decisions/html/index.en.html">Our leadership</a><a href="#" class="subpages" title="toggle subpages for Our leadership"></a><ul><li class="clearfix"><a href="/ecb/decisions/eb/html/index.en.html">Executive Board</a></li><li class="clearfix"><a href="/ecb/decisions/govc/html/index.en.html">Governing Council</a></li><li class="clearfix"><a href="/ecb/decisions/genc/html/index.en.html">General Council</a></li><li class="clearfix"><a href="/ecb/decisions/ssm/html/index.en.html">Supervisory Board</a></li></ul></li><li class="has-subpages"><a href="/ecb/orga/html/index.en.html">Our organisation</a><a href="#" class="subpages" title="toggle subpages for Our organisation"></a><ul><li class="has-subpages"><a href="/ecb/orga/escb/html/index.en.html">ECB, ESCB and the Eurosystem</a><a href="#" class="subpages" title="toggle subpages for ECB, ESCB and the Eurosystem"></a><ul><li class="clearfix"><a href="/ecb/orga/escb/ecb-mission/html/index.en.html">ECB mission</a></li><li class="clearfix"><a href="/ecb/orga/escb/eurosystem-mission/html/index.en.html">Eurosystem mission</a></li><li class="clearfix"><a href="/ecb/orga/escb/strategic-intents/html/index.en.html">Strategic intents</a></li><li class="clearfix"><a href="/ecb/orga/escb/organisational-principles/html/index.en.html">Organisational principles</a></li></ul></li><li class="has-subpages"><a href="/ecb/orga/tasks/html/index.en.html">Our tasks and responsibilities</a><a href="#" class="subpages" title="toggle subpages for Our tasks and responsibilities"></a><ul><li class="clearfix"><a href="/ecb/orga/tasks/monpol/html/index.en.html">Monetary policy</a></li><li class="clearfix"><a href="/ecb/orga/tasks/statistics/html/index.en.html">Statistics</a></li><li class="has-subpages"><a href="/ecb/orga/tasks/stability/html/index.en.html">Financial stability and macroprudential policy</a><a href="#" class="subpages" title="toggle subpages for Financial stability and macroprudential policy"></a><ul><li class="clearfix"><a href="/ecb/orga/tasks/stability/tasks/html/index.en.html">Our tasks</a></li><li class="clearfix"><a href="/ecb/orga/tasks/stability/strategy/html/index.en.html">Strategy</a></li><li class="clearfix"><a href="/ecb/orga/tasks/stability/framework/html/index.en.html">Institutional framework</a></li></ul></li><li class="clearfix"><a href="/ecb/orga/tasks/euro/html/index.en.html">Banknotes</a></li><li class="clearfix"><a href="/ecb/orga/tasks/paym/html/index.en.html">Payments & securities</a></li><li class="has-subpages"><a href="/ecb/orga/tasks/europe/html/index.en.html">European relations</a><a href="#" class="subpages" title="toggle subpages for European relations"></a><ul><li class="clearfix"><a href="/ecb/orga/tasks/europe/cooperation/html/index.en.html">European cooperation</a></li><li class="clearfix"><a href="/ecb/orga/tasks/europe/emu/html/index.en.html">EMU economic governance</a></li></ul></li><li class="has-subpages"><a href="/ecb/orga/tasks/international/html/index.en.html">International affairs</a><a href="#" class="subpages" title="toggle subpages for International affairs"></a><ul><li class="clearfix"><a href="/ecb/orga/tasks/international/institutions/html/index.en.html">International relations and analysis</a></li><li class="clearfix"><a href="/ecb/orga/tasks/international/financialarchitecture/html/index.en.html">International central bank cooperation</a></li></ul></li><li class="clearfix"><a href="/ecb/orga/tasks/reserves/html/index.en.html">Foreign reserves and own funds</a></li><li class="clearfix"><a href="/ecb/orga/tasks/forex/html/index.en.html">Foreign exchange operations</a></li></ul></li><li class="clearfix"><a href="/ecb/orga/orgachart/html/index.en.html">Organisation chart of the ECB</a></li><li class="clearfix"><a href="/ecb/orga/capital/html/index.en.html">Capital subscription</a></li><li class="clearfix"><a href="/ecb/orga/governance/html/index.en.html">Corporate governance</a></li></ul></li><li class="has-subpages"><a href="/ecb/our-values/html/index.en.html">Our values</a><a href="#" class="subpages" title="toggle subpages for Our values"></a><ul><li class="clearfix"><a href="/ecb/our-values/independence/html/index.en.html">Independence</a></li><li class="clearfix"><a href="/ecb/our-values/transparency/html/index.en.html">Transparency</a></li><li class="clearfix"><a href="/ecb/our-values/accountability/html/index.en.html">Accountability</a></li><li class="has-subpages"><a href="/ecb/our-values/ethics/html/index.en.html">Ethics – working with integrity</a><a href="#" class="subpages" title="toggle subpages for Ethics – working with integrity"></a><ul><li class="clearfix"><a href="/ecb/our-values/ethics/enmo/html/index.en.html">Ethics Network of Multilateral Organizations (ENMO)</a></li></ul></li></ul></li><li class="has-subpages"><a href="/ecb/history-arts-culture/html/index.en.html">Our history, arts and culture</a><a href="#" class="subpages" title="toggle subpages for Our history, arts and culture"></a><ul><li class="has-subpages"><a href="/ecb/history-arts-culture/history/html/index.en.html">Our history</a><a href="#" class="subpages" title="toggle subpages for Our history"></a><ul><li class="clearfix"><a href="/ecb/history-arts-culture/history/25-year-anniversary-of-the-ecb/html/index.en.html">25 years of the ECB</a></li><li class="clearfix"><a href="/ecb/history-arts-culture/history/emu/html/index.en.html">Economic and Monetary Union</a></li><li class="clearfix"><a href="/ecb/history-arts-culture/history/enlargement/html/index.en.html">EU enlargement</a></li><li class="clearfix"><a href="/ecb/history-arts-culture/history/ec/html/index.en.html">European Union</a></li></ul></li><li class="has-subpages"><a href="/ecb/history-arts-culture/archives/html/index.en.html">Archives</a><a href="#" class="subpages" title="toggle subpages for Archives"></a><ul><li class="clearfix"><a href="/ecb/history-arts-culture/archives/cog/html/index.en.html">Committee of Governors</a></li><li class="clearfix"><a href="/ecb/history-arts-culture/archives/emcf/html/index.en.html">European Monetary Cooperation Fund</a></li><li class="clearfix"><a href="/ecb/history-arts-culture/archives/delors/html/index.en.html">Delors Committee</a></li><li class="clearfix"><a href="/ecb/history-arts-culture/archives/emi/html/index.en.html">European Monetary Institute</a></li><li class="clearfix"><a href="/ecb/history-arts-culture/archives/european/html/index.en.html">European Central Bank</a></li></ul></li><li class="clearfix"><a href="/ecb/history-arts-culture/artsculture/html/index.en.html">Arts and culture</a></li></ul></li><li class="has-subpages"><a href="/ecb/legal/html/index.en.html">Our legal framework</a><a href="#" class="subpages" title="toggle subpages for Our legal framework"></a><ul><li class="clearfix"><a href="/ecb/legal/faqs/html/index.en.html">EUR-Lex - Frequently asked questions</a></li><li class="clearfix"><a href="/ecb/legal/fsla/html/index.en.html">Institutional framework</a></li></ul></li><li class="has-subpages"><a href="/ecb/climate/html/index.en.html">Climate change and the ECB</a><a href="#" class="subpages" title="toggle subpages for Climate change and the ECB"></a><ul><li class="clearfix"><a href="/ecb/climate/our-climate-and-nature-plan/html/index.en.html">Our climate and nature plan</a></li><li class="clearfix"><a href="/ecb/climate/climate-related-financial-disclosures/html/index.en.html">Climate-related financial disclosures</a></li><li class="clearfix"><a href="/ecb/climate/managing_mitigating_climatel_risk/html/index.en.html">Managing climate-related risks</a></li><li class="clearfix"><a href="/ecb/climate/green_transition/html/index.en.html">Supporting the green transition</a></li><li class="clearfix"><a href="/ecb/climate/wider_action/html/index.en.html">Fostering wider action</a></li><li class="clearfix"><a href="/ecb/climate/our_approach/html/index.en.html">Our approach</a></li><li class="clearfix"><a href="/ecb/climate/green/html/index.en.html">Environmental protection</a></li><li class="clearfix"><a href="/ecb/climate/climate/html/index.en.html">Climate Insurance Protection Gap</a></li></ul></li><li class="clearfix"><a href="/ecb/sanctions/html/index.en.html">Sanctions imposed by the ECB</a></li><li class="has-subpages"><a href="/ecb/jobsproc/html/index.en.html">Procurement</a><a href="#" class="subpages" title="toggle subpages for Procurement"></a><ul><li class="clearfix"><a href="/ecb/jobsproc/tenders/html/index.en.html">Tenders</a></li><li class="clearfix"><a href="/ecb/jobsproc/archive/html/index.en.html">Archive</a></li><li class="clearfix"><a href="/ecb/jobsproc/sourcing/html/index.en.html">Electronic tendering system</a></li></ul></li><li class="has-subpages"><a href="/ecb/access_to_documents/html/index.en.html">Access to documents</a><a href="#" class="subpages" title="toggle subpages for Access to documents"></a><ul><li class="clearfix"><a href="/ecb/access_to_documents/document/html/index.en.html">Public Register of Documents</a></li></ul></li><li class="has-subpages"><a href="/ecb/contacts/html/index.en.html">Contacts</a><a href="#" class="subpages" title="toggle subpages for Contacts"></a><ul><li class="clearfix"><a href="/ecb/contacts/address/html/index.en.html">Address</a></li><li class="clearfix"><a href="/ecb/contacts/working-hours/html/index.en.html">ECB public holidays</a></li></ul></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/ecb-and-you/html/index.en.html">ECB & You</a><a href="#" class="subpages" title="toggle subpages for ECB & You"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"> <div class="item"> <div class="title">ECB & You</div> <hr> </div> </div></div><ul><li class="clearfix"><a href="/ecb-and-you/educational/html/index.en.html">All about ECB & You</a></li><li class="clearfix"><a href="/ecb-and-you/explainers/html/index.en.html">Explainers</a></li><li class="clearfix"><a href="/ecb-and-you/test-your-knowledge/html/index.en.html">Test your knowledge</a></li><li class="has-subpages"><a href="/ecb-and-you/youth-initiatives/html/index.en.html">Youth initiatives</a><a href="#" class="subpages" title="toggle subpages for Youth initiatives"></a><ul><li class="clearfix"><a href="/ecb-and-you/youth-initiatives/girls_it_bootcamp/html/index.en.html">Girls' IT Bootcamp</a></li></ul></li><li class="clearfix"><a href="/ecb-and-you/everyone-needs-stability/html/index.en.html">Everyone needs stability</a></li><li class="clearfix"><a href="/ecb-and-you/ecb_and_you/html/index.en.html">ECB & You broadcasts</a></li><li class="clearfix"><a href="/ecb-and-you/ask_us/html/index.en.html">Ask us</a></li><li class="has-subpages"><a href="/ecb-and-you/visits/html/index.en.html">Visit us</a><a href="#" class="subpages" title="toggle subpages for Visit us"></a><ul><li class="clearfix"><a href="/ecb-and-you/visits/premises/html/index.en.html">Main building</a></li></ul></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/careers/html/index.en.html">Careers</a><a href="#" class="subpages" title="toggle subpages for Careers"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"> <div class="item"> <div class="title">Careers</div> <hr> </div> </div></div><ul><li class="clearfix"><a href="/careers/all-about-careers/html/index.en.html">All about careers</a></li><li class="clearfix"><a href="/careers/vacancies/html/index.en.html">Vacancies</a></li><li class="has-subpages"><a href="/careers/working-at-the-ecb/html/index.en.html">Who we are</a><a href="#" class="subpages" title="toggle subpages for Who we are"></a><ul><li class="clearfix"><a href="/careers/working-at-the-ecb/about/html/index.en.html">About the ECB</a></li><li class="clearfix"><a href="/careers/working-at-the-ecb/employee-portraits/html/index.en.html">Meet our people</a></li><li class="clearfix"><a href="/careers/working-at-the-ecb/life-in-frankfurt/html/index.en.html">Life in Frankfurt</a></li></ul></li><li class="has-subpages"><a href="/careers/why-we-value-diversity/html/index.en.html">Why we value diversity</a><a href="#" class="subpages" title="toggle subpages for Why we value diversity"></a><ul><li class="clearfix"><a href="/careers/why-we-value-diversity/women/html/index.en.html">Women@ECB</a></li><li class="clearfix"><a href="/careers/why-we-value-diversity/diversity-networks/html/index.en.html">Diversity networks</a></li></ul></li><li class="has-subpages"><a href="/careers/what-we-offer/html/index.en.html">What we offer</a><a href="#" class="subpages" title="toggle subpages for What we offer"></a><ul><li class="clearfix"><a href="/careers/what-we-offer/benefits/html/index.en.html">Benefits & rewards</a></li><li class="has-subpages"><a href="/careers/what-we-offer/contract/html/index.en.html">Contract types</a><a href="#" class="subpages" title="toggle subpages for Contract types"></a><ul><li class="clearfix"><a href="/careers/what-we-offer/contract/fixed/html/index.en.html">Fixed-term</a></li><li class="clearfix"><a href="/careers/what-we-offer/contract/short/html/index.en.html">Short-term</a></li><li class="clearfix"><a href="/careers/what-we-offer/contract/escb/html/index.en.html">ESCB/IO</a></li><li class="clearfix"><a href="/careers/what-we-offer/contract/other/html/index.en.html">Other</a></li></ul></li><li class="clearfix"><a href="/careers/what-we-offer/traineeship/html/index.en.html">Traineeship</a></li><li class="clearfix"><a href="/careers/what-we-offer/graduate/html/index.en.html">Graduate programme</a></li><li class="clearfix"><a href="/careers/what-we-offer/wecs/html/index.en.html">ECB Scholarship for Women</a></li><li class="clearfix"><a href="/careers/what-we-offer/ukrainian-scholarship/html/index.en.html">ECB Scholarship for Ukrainian graduates</a></li></ul></li><li class="has-subpages"><a href="/careers/before-you-apply/html/index.en.html">How you can join us</a><a href="#" class="subpages" title="toggle subpages for How you can join us"></a><ul><li class="clearfix"><a href="/careers/before-you-apply/how-to-apply/html/index.en.html">How to apply</a></li><li class="clearfix"><a href="/careers/before-you-apply/how-we-hire/html/index.en.html">How we hire</a></li><li class="has-subpages"><a href="/careers/before-you-apply/newcomers/html/index.en.html">You have been selected, what next?</a><a href="#" class="subpages" title="toggle subpages for You have been selected, what next?"></a><ul><li class="clearfix"><a href="/careers/before-you-apply/newcomers/fixed-term/html/index.en.html">Fixed-term employee</a></li><li class="clearfix"><a href="/careers/before-you-apply/newcomers/short-term/html/index.en.html">Short-term employee</a></li><li class="clearfix"><a href="/careers/before-you-apply/newcomers/trainee/html/index.en.html">Trainee</a></li><li class="clearfix"><a href="/careers/before-you-apply/newcomers/cost-free/html/index.en.html">Cost-free secondee</a></li></ul></li></ul></li><li class="clearfix"><a href="/careers/faq/html/index.en.html">FAQs</a></li></ul></div></li></ul></div></nav> <div id="page-actions"> <div class="ecb-quickSearch" style="width:100%;"> <form role="search" method="get" style="width:100%;display:flex" onsubmit="return false"> <input type="text" name="search" class="addsearch" id="searchInput" maxlength="300" aria-label="Search" alt="Search" autocomplete="off" /> <a href="#" id="searchButton">Search</a> </form> </div> </div> <button id="toggle-mobile-nav" aria-expanded="false" aria-controls="navwrapper"><span class="sr-only">Menu</span></button> </div> <div id="ecb-breadcrumbscontainer"><div id="ecb-breadcrumbwrapper"><nav id="ecb-breadcrumbs"></nav></div></div> </header> <div id="ecb-mainnavwrapper" style="display: none !important;"></div> <div id="addSearch-container-full"> <div class="blue-bg"> <div class="arrow-top"></div> <div class="section filter-radio"> <div class="tabs-container -white-blue"> <input id="searchAll" name="search-tab-group" type="radio" checked="" onClick="ECB.slow.addSearchApi.filterDate(this.value);" value="all"> <label for="searchAll" class="count-hits-all">ANYTIME <span class="count-hits"></span></label> <div class="spacer"></div> <input id="searchMonth" name="search-tab-group" type="radio" onClick="ECB.slow.addSearchApi.filterDate(this.value);" value="month"> <label for="searchMonth" class="count-hits-month">PAST MONTH <span class="count-hits"></span></label> <div class="spacer"></div> <input id="searchYear" name="search-tab-group" type="radio" onClick="ECB.slow.addSearchApi.filterDate(this.value);" value="year"> <label for="searchYear" class="count-hits-year">PAST YEAR <span class="count-hits"></span></label> </div> <div class="tabs-search-options-head"> <div id="text-search-options" class="title-option">Search Options</div> <div id="text-image-preview" class="title-option hidden">Image Preview</div> </div> </div> <div class="arrow-bottom"></div> <div class="filter-selection form"> <div class="form-content"> <form> <div> <label for="dropdownSuggestions">Sort by</label> <div id="dropdownFilter" class="dropdown"> <span class="icon"></span> <select onchange="ECB.slow.addSearchApi.filterDate(this.value)" id="searchFilterDate"> <option value="all" class="count-hits-all">ANYTIME </option> <option value="month" class="count-hits-month">PAST MONTH </option> <option value="year" class="count-hits-year">PAST YEAR </option> </select> </div> </div> <div> <label for="dropdownSuggestions" class="space-top">Suggestions</label> <div id="dropdownSuggestions" class="dropdown"> <span class="icon"></span> <select onchange="ECB.slow.addSearchApi.initSearch(this.value)" id="searchSuggestion"> <option></option> </select> </div> </div> </form> </div> </div> </div> <div class="white-bg"> <div class="section"> <div class="result-main-panel"> <!--<h1 class="ecb0 title-stick">Search Results</h1>--> <div id="addsearch-api-results"></div> <div class="addsearch-legends-categories"> <span id="adcat_home">Home</span> <span id="adcat_press">Media</span> <span id="adcat_explainers">Explainers</span> <span id="adcat_pub">Research & Publications</span> <span id="adcat_stats">Statistics</span> <span id="adcat_mopo">Monetary Policy</span> <span id="adcat_euro">The €uro</span> <span id="adcat_paym">Payments & Markets</span> <span id="adcat_career">Careers</span> </div> </div> <div class="result-side-panel"> <div id="addsearch-sidemenu"> <div id="result-suggestions"> <span>Suggestions</span> <div id="suggestions-container"> </div> </div> <div id="result-sortBy"> <span>Sort by</span> <div id="sortby-radio-container"> <div class="addsearch-sortby-radiogroup"> <label> <input id="sort-by-relevance" type="radio" name="sortby-radio-container" onclick="ECB.slow.addSearchApi.sortBy('relevance')" data-field="relevance" data-order="desc" value="" checked="">Relevance </label> <label> <input id="sort-by-date" type="radio" name="sortby-radio-container" onclick="ECB.slow.addSearchApi.sortBy('date')" data-field="date" data-order="desc" value="">Date </label> </div> </div> </div> </div> <div id="addsearch-image-container" aria-hidden="true"><img src="" id="addsearch-image" alt="" /></div> </div> </div> </div> </div> <div id="main-wrapper" > <div class="header fast image-attribution -small" data-image-webp="/press/shared/img/header.webp" data-image="/press/shared/img/header.jpg"> <div data-image="/press/shared/img/header.jpg" data-image-webp="/press/shared/img/header.webp" ></div> </div> <aside aria-label="Social media sharing and related content (if available)"> <div id="ecb-social-sharing" class="" tab-index="2"> <ul class="-links"> <li class="-print"><a href="javascript:window.print()" title="Print page"></a></li> </ul> <div class="-separator"></div> <ul class="-links"> <li class="-twitter"><a href="javascript:window.open('https://twitter.com/intent/tweet?url='+location.protocol + '//' + location.host + location.pathname+((document.location.search.search(/\?youtubeID=[a-zA-Z0-9_-]+$/)!=-1&&document.location.search)||''),'_blank','width=600,height=400,menubar=no')" title="Share on X"></a></li> <li class="-facebook"><a href="javascript:window.open('https://www.facebook.com/sharer/sharer.php?u='+location.protocol + '//' + location.host + location.pathname+((document.location.search.search(/\?youtubeID=[a-zA-Z0-9_-]+$/)!=-1&&document.location.search)||''),'_blank','width=600,height=400,menubar=no')" title="Share on Facebook"></a></li> <li class="-linkedin"><a href="javascript:window.open('https://www.linkedin.com/shareArticle?url='+location.protocol + '//' + location.host + location.pathname+((document.location.search.search(/\?youtubeID=[a-zA-Z0-9_-]+$/)!=-1&&document.location.search)||''),'_blank','width=600,height=400,menubar=no')" title="Share on LinkedIn"></a></li> <li class="-email"><a href="javascript:window.open('mailto:?subject=I would like to share this link with you&body=Link to the website of the European Central Bank: '+location.protocol + '//' + location.host + location.pathname+((document.location.search.search(/\?youtubeID=[a-zA-Z0-9_-]+$/)!=-1&&document.location.search)||''))" title="Share by Email"></a></li> </ul> </div> </aside> <main > <script> ECB.TEMP = ECB.TEMP||{}; ECB.TEMP.calendar_labels = { "en":["Cancel","OK","Monday","Tuesday","Wednesday","Thursday","Friday","Saturday","Sunday","January","February","March","April","May","June","July","August","September","October","November","December"], "bg":["отказ","приложи","понеделник","вторник","сряда","четвъртък","петък","събота","неделя","януари","февруари","март","април","май","юни","юли","август","септември","октомври","ноември","декември"], "cs":["Zrušit","Přihlaste se","Pondělí","Úterý","Středa","Čtvrtek","Pátek","Sobota","Neděle","Leden","Únor","Březen","Duben","Května","Červen","Červenec","Srpen","Září","Říjen","Listopad","Prosinec"], "da":["Annuller","Ansøge","Mandag","Tirsdag","Onsdag","Torsdag","Fredag","Lørdag","Søndag","Januar","Februar","Marts","April","Maj","Juni","Juli","August","September","Oktober","November","December"], "de":["Abbrechen","Übernehmen","Montag","Dienstag","Mittwoch","Donnerstag","Freitag","Samstag","Sonntag","Januar","Februar","März","April","Mai","Juni","Juli","August","September","Oktober","November","Dezember"], "el":["Ακύρωση","Εφαρμογή","Δευτέρα","Τρίτη","Τετάρτη","Πέμπτη","Παρασκευή","Σάββατο","Κυριακή","Ιανουάριος","Φεβρουάριος","Μάρτιος","Απρίλιος","Μαΐου","Ιούνιος","Ιούλιος","Αύγουστος","Σεπτέμβριος","Οκτώβριος","Νοέμβριος","Δεκέμβριος"], "es":["Cancelar","Aplicar","El lunes","Martes","Miércoles","Jueves","Viernes","Sábado","Domingo","Enero","Febrero","Marzo","De abril","Mayo","Junio","Julio","Agosto","Septiembre","Octubre","Noviembre","Diciembre"], "et":["Loobu","Rakenda","Esmaspäev","Teisipäev","Kolmapäev","Neljapäev","Reede","Laupäev","Pühapäev","Jaanuar","Veebruaril","Märtsil","Aprill","Mai","Juuni","Juuli","August","September","Oktoober","Oktoober","Detsembris"], "fi":["Peruuta","Valitse","maanantai","tiistai","keskiviikko","torstai","perjantai","lauantai","sunnuntai","tammikuu","helmikuu","maaliskuu","huhtikuu","toukokuu","kesäkuu","heinäkuu","elokuu","syyskuu","lokakuu","marraskuu","joulukuu"], "fr":["Annuler","Sélectionner","Lundi","Mardi","Mercredi","Jeudi","Vendredi","Samedi","Dimanche","Janvier","Février","Mars","Avril","Mai","Juin","Juillet","Août","Septembre","Octobre","Novembre","Décembre"], "ga":["Cealaigh","OK","Monday","Tuesday","Wednesday","Thursday","Friday","Saturday","Sunday","January","February","March","April","May","June","July","August","September","October","November","December"], "hr":["Odustani","Prijavite se","Ponedjeljak","Utorak","Srijeda","Četvrtak","Petak","Subota","Nedjelja","Siječanj","Veljača","Ožujak","Travanj","Svibnja","Lipanj","Srpanj","Kolovoz","Rujan","Listopad","Studeni","Prosinac"], "hu":["Mégse","OK","hétfő","kedd","szerda","csütörtök","péntek","szombat","vasárnap","január","február","március","április","május","június","július","augusztus","szeptember","október","november","december"], "it":["Annulla","Applica","Lunedi","Martedì","Mercoledì","Giovedì","Venerdì","Sabato","Domenica","Gennaio","febbraio","Marzo","Aprile","Maggio","Giugno","Luglio","Agosto","Settembre","Ottobre","Novembre","Dicembre"], "lt":["Atšaukti","Taikyti","Pirmadienis","Antradienis","Trečiadienį","Ketvirtadienis","Penktadienis","Šeštadienis","Sekmadienis","sausis","vasaris","kovas","balandis","gegužė","birželis","liepa","rugpjūtis","rugsėjis","spalis","lapkritis","gruodis"], "lv":["Atcelt","Apstiprināt","Pirmdiena","Otrdiena","Trešdiena","Ceturtdiena","Piektdiena","Sestdiena","Svētdiena","janvāris","februāris","marts","aprīlis","maijs","jūnijs","jūlijs","augusts","septembris","oktobris","novembris","decembris"], "mt":["Ikkanċella","Applika","it-Tnejn","it-Tlieta","l-Erbgħa","il-Ħamis","il-Ġimgħa","is-Sibt","il-Ħadd","Jannar","Frar","Marzu","April","Mejju","Ġunju","Lulju","Awissu","Settembru","Ottubru","Novembru","Diċembru"], "nl":["Annuleren","Toepassen","Maandag","Dinsdag","Woensdag","Donderdag","Vrijdag","Zaterdag","Zondag","Januari","Februari","Maart","April","Mei","Juni","Juli","Augustus","September","Oktober","November","December"], "pl":["Anuluj","OK","Poniedziałek","Wtorek","Środa","Czwartek","Piątek","Sobota","Niedziela","Styczeń","Luty","Marzec","Kwiecień","Maj","Czerwiec","Lipiec","Sierpień","Wrzesień","Październik","Listopad","Grudzień"], "pt":["Cancelar","Aplicar","Segunda-feira","Terça-feira","Quarta-feira","Quinta-feira","Sexta-feira","Sábado","Domingo","Janeiro","Fevereiro","Março","Abril","Maio","Junho","Julho","Agosto","Setembro","Outubro","Novembro","Dezembro"], "ro":["Anulare","Aplică","Luni","Marți","Miercuri","Joi","Vineri","Sâmbătă","Duminică","ianuarie","februarie","martie","aprilie","mai","iunie","iulie","august","septembrie","octombrie","noiembrie","decembrie"], "sk":["Zrušiť","Prihlásiť sa","Pondelok","Utorok","Streda","Štvrtok","Piatok","Sobota","Nedeľa","Január","Február","Marec","Apríl","Mája","Jún","Júl","August","September","Október","November","December"], "sl":["Prekliči","Potrdi","Ponedeljek","Torek","Sreda","Četrtek","Petek","Sobota","Nedelja","Januar","Februar","Marec","April","Maj","Junij","Julij","Avgust","September","Oktober","November","December"], "sv":["Avbryt","OK","Måndagen","Tisdagen","Onsdag","Torsdag","Fredag","Lördag","Söndag","Januari","Februari","Mars","April","Maj","Juni","Juli","Augusti","September","Oktober","November","December"] } //"ga": ["Cealaigh","Déan iarratas","Dé Luain","Dé Máirt","Dé Céadaoin","Déardaoin","Dé hAoine","Dé Sathairn","Dé Domhnaigh","Eanáir","Feabhra","Márta","Aibreán","Bealtaine","Meitheamh","Iúil","Lúnasa","Meán Fómhair","Deireadh Fómhair","Samhain","Nollaig"], //"fi": </script> <div class="title"> <h1>Press conference</h1> </div> <div class="teasers -three-columns -gradient -lower-light-grey"> <div class="upper" data-image-webp="/styleguide/shared/img/light_2560x750.webp" data-image="/styleguide/shared/img/light_2560x750.jpg"> <div class="date-controls"> <button onclick="document.location.href='?date=2024-09-12'" class="prev " > <span class="inner icon -buttons-arrow"> <span class="button-upper">PREVIOUS</span> <span class="button-lower">12 September 2024</span> </span> </button> <button class="date-picker icon -csv-file-2">17 October 2024</button> <button onclick="document.location.href='?date='" class="next " disabled > <span class="inner icon -buttons-arrow"> <span class="button-upper">NEXT</span> <span class="button-lower">0 December </span> </span> </button> <input type="text" id="input_date_picker" class="hidden"> </div> <h2>14:45 CET - Ljubljana, Slovenia</h2> </div> <div class="lower"> <div class="container"> <div class="box"> <div class="header"> <div class="title">Monetary policy decisions</div> <div class="icon -approval"></div> </div> <div class="content-box"> <p>Here is what the Governing Council decided about the ECB’s interest rates and instruments at its latest meeting.</p> <a href="/press/pr/date/2024/html/ecb.mp241017~aa366eaf20.en.html">Press release</a> </div> </div> <div class="box"> <div class="header"> <div class="title">Monetary policy statement with Q&A</div> <div class="icon -mic"></div> </div> <div class="content-box"> <p>Read our explanation of the reasons behind the latest monetary policy decisions.</p> <a href="/press/press_conference/monetary-policy-statement/2024/html/ecb.is241017~59ad385bab.en.html">Monetary policy statement</a> </div> </div> <div class="box"> <div class="header"> <div class="title">Monetary policy account</div> <div class="icon -conversation"></div> </div> <div class="content-box"> <p>The account of the Governing Council meeting includes a review of developments and policy options as well as a summary of the discussions and decisions.</p> <a href="/press/accounts/2024/html/ecb.mg241114~c0e6f53cf7.en.html">Account</a> </div> </div> <div class="box"> <div class="header"> <div class="title">Our statement at a glance</div> <div class="icon -question-mark"></div> </div> <div class="content-box"> <p>This visual statement explains our monetary policy decisions in short and easy-to-understand language.</p> <a href="/press/press_conference/visual-mps/2024/html/mopo_statement_explained_october.en.html">Visual statement</a> </div> </div> </div> </div> </div> <div class="jumbo-box" id="youtube"> <div class="upper"> <div class="content-box"> <h3>Watch the press conference</h3> </div> </div> <div class="lower"> <div data-video="YaA5OUdugk4"></div> <a href="/press/tvservices/webcast/html/webcast_pc_m.en.html">Alternative version (if there are issues with this player)</a> </div> </div> <div class="boxes"> <div class="box"> <div data-image="/press/tvservices/podcast/shared/img/podcast_logo_pc.jpg"></div> <div class="content-box"> <h3>Listen to the statement</h3> <p>This episode of The ECB Podcast includes President Christine Lagarde delivering the latest monetary policy statement.</p> <a href="/press/tvservices/podcast/html/ecb.pod241017_episode95.en.html">Podcast</a> </div> </div> </div> <div class="key-figures"> <div class="header"> <h3>Key ECB interest rates</h3> <p>With effect from: 23 October 2024</p> </div> <div class="container"> <div class="box"> <a href="/ecb-and-you/explainers/tell-me/html/what-is-the-deposit-facility-rate.en.html"> <div>Deposit facility</div> <div>3.25 %</div> <div></div> </a> </div> <div class="box"> <a href="/ecb-and-you/explainers/tell-me/html/mro.en.html"> <div>Main refinancing operations</div> <div>3.40 %</div> <div></div> </a> </div> <div class="box"> <a href="/ecb-and-you/explainers/tell-me/html/marginal_lending_facility_rate.en.html"> <div>Marginal lending facility</div> <div>3.65 %</div> <div></div> </a> </div> </div> <a href="/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html">Past key ECB interest rates</a> </div> <div class="contact-box" data-image-webp="/stats/shared/img/contacts_2560x800.webp" data-image="/stats/shared/img/contacts_2560x800.jpg"> <div class="content-box"> <h3>Register for the press conference</h3> <p>If you are a journalist and wish to attend the next press conference, email us at least ten working days prior to the event.</p> <div class="button-box"> <a class="button" href="mailto:media@ecb.europa.eu">media@ecb.europa.eu</a> </div> </div> </div> <div class="teasers -three-columns -upper-light-grey -lower-blue"> <div class="upper"> <h2>Multimedia content and downloads</h2> </div> <div class="lower"> <div class="container"> <div class="box"> <div class="header"> <div class="title">Satellite parameters</div> <div class="icon -world"></div> </div> <div class="content-box"> <p>Get the current downlink parameters for our press conference.</p> <a href="/press/tvservices/satinfo/html/index.en.html">Downlink parameters</a> </div> </div> <div class="box"> <div class="header"> <div class="title">Footage for TV stations</div> <div class="icon -video"></div> </div> <div class="content-box"> <p>Download footage of the most recent press conference in HD format.</p> <a href="/press/tvservices/ondemand/html/index.en.html">Video footage</a> </div> </div> <div class="box"> <div class="header"> <div class="title">Photos</div> <div class="icon -image"></div> </div> <div class="content-box"> <p>See the latest photos from the press conference in high quality.</p> <a href="https://www.flickr.com/photos/europeancentralbank/albums/72177720321186151">Visit the Flickr album</a> </div> </div> </div> </div> </div> <div class="see-also-boxes -two-columns"> <div class="headline">SEE ALSO</div> <h2>Related content</h2> <div class="container"> <div class="content-box"> <h3>MEETING CALENDAR</h3> <p>Find the dates for upcoming Governing Council meetings and press conferences.</p> <a href="/press/calendars/mgcgc/html/index.en.html">Governing Council meeting calendar</a> </div> </div> </div> <script src='https://www.wowza.com/downloads/rts-sdk/wowza.umd.js'></script> <script> (function(){ const wowza = window.wowza // Get Media Element const player = document.getElementById('playerElement') const streamName = "b24f45b8afc948c59c5db7a84c68935e" //Define callback for generate new token const tokenGenerator = () => wowza.Director.getSubscriber({ streamName: streamName }) //Create a new instance const wowzaView = new wowza.View(streamName, tokenGenerator, player) //Start connection to publisher try { wowzaView.connect() } catch (e) { console.log('Connection failed, handle error', e) } })(); </script> <style> #LLF-placeholder {max-width:800px; height:170px; padding:0; margin:0 auto; background-image:url("LLF_placeholder.png"); background-repeat: no-repeat; background-position: center; text-align: center; background-size: 100%; } #LLF-placeholder h4 { display: inline-block; vertical-align: middle; margin-top: 60px; color:white; } a#playerElement-Title-Logo::before, a#playerElement-MediaController-PlayPauseButton::before, a#playerElement-MediaController-QuickRewindButton::before, a#playerElement-VolumeControl-VolumeButton::before { content: unset !important; } #playerElement { margin: 0 auto; display: block; } #playerElement{ font-family: 'Open Sans'; } .jumbo-box .upper .content-box p{ text-align: center; } .key-figures .header{ padding: 50px 20px 0; } .key-figures .header h3{ font-size: 34px; line-height: 45px; font-weight: 400; position: relative; padding-bottom: 25px; margin-bottom: 25px; } .key-figures .header h3::after{ display: block; position: absolute; content: ''; left: calc(50% - 35px); bottom: 0; height: 5px; width: 70px; border-bottom: 2px solid #fff200; } .key-figures .header h3, .key-figures .header p{ color: #fff; text-align: center; } .key-figures > a{ margin-bottom: 20px !important; } /* 630px */ @media only screen and (min-width: 630px) { .mc-calendar--modal{ background-color: transparent !important; } } </style> <link href="/shared/libs/MCDatepicker/mc-calendar.min.css" rel="stylesheet" /> <script src="/shared/libs/MCDatepicker/mc-calendar.min.js"></script> <script type="text/javascript"> ECB.data = ECB.data || {}; ECB.data["all_pc_historical_dates"] = ["2024-10-17","2024-09-12","2024-07-18","2024-06-06","2024-04-11","2024-03-07","2024-01-25","2023-12-14","2023-10-26","2023-09-14","2023-07-27","2023-06-15","2023-05-04","2023-03-16","2023-02-02","2022-12-15","2022-10-27","2022-09-08","2022-07-21","2022-06-09","2022-04-14","2022-03-10","2022-02-03","2021-12-16","2021-10-28","2021-09-09","2021-07-22","2021-06-10","2021-04-22","2021-03-11","2021-01-21","2020-12-10","2020-10-29","2020-09-10","2020-07-16","2020-06-04","2020-04-30","2020-03-12","2020-01-23","2019-12-12","2019-10-24","2019-09-12","2019-07-25","2019-06-06","2019-04-10","2019-03-07","2019-01-24","2018-12-13","2018-10-25","2018-09-13","2018-07-26","2018-06-14","2018-04-26","2018-03-08","2018-01-25","2017-12-14","2017-10-26","2017-09-07","2017-07-20","2017-06-08","2017-04-27","2017-03-09","2017-01-19","2016-12-08","2016-10-20","2016-09-08","2016-07-21","2016-06-02","2016-04-21","2016-03-10","2016-01-21","2015-12-03","2015-10-22","2015-09-03","2015-07-16","2015-06-03","2015-04-15","2015-03-05","2015-01-22","2014-12-04","2014-11-06","2014-10-02","2014-09-04","2014-08-07","2014-07-03","2014-06-05","2014-05-08","2014-04-03","2014-03-06","2014-02-06","2014-01-07","2013-12-05","2013-11-07","2013-10-02","2013-09-05","2013-08-01","2013-07-04","2013-06-06","2013-05-02","2013-04-04","2013-03-07","2013-02-07","2013-01-10","2012-12-06","2012-11-08","2012-10-04","2012-09-06","2012-08-02","2012-07-05","2012-06-06","2012-05-03","2012-04-04","2012-03-08","2012-02-09","2012-01-12","2011-12-08","2011-11-03","2011-10-06","2011-09-08","2011-08-04","2011-07-07","2011-06-09","2011-05-05","2011-04-07","2011-03-03","2011-02-03","2011-01-13","2010-12-02","2010-11-04","2010-10-07","2010-09-02","2010-08-05","2010-07-08","2010-06-10","2010-05-06","2010-04-08","2010-03-04","2010-02-04","2010-01-14","2009-12-03","2009-11-05","2009-10-08","2009-09-03","2009-08-06","2009-07-02","2009-06-04","2009-05-07","2009-04-02","2009-03-05","2009-02-05","2009-01-15","2008-12-04","2008-11-06","2008-10-08","2008-10-02","2008-09-04","2008-08-07","2008-07-03","2008-06-05","2008-05-08","2008-04-10","2008-03-06","2008-02-07","2008-01-10","2007-12-06","2007-11-08","2007-10-04","2007-09-06","2007-08-02","2007-07-05","2007-06-06","2007-05-10","2007-04-12","2007-03-08","2007-02-08","2007-01-11","2006-12-07","2006-11-02","2006-10-05","2006-08-31","2006-08-03","2006-07-06","2006-06-08","2006-05-04","2006-04-06","2006-03-02","2006-02-02","2006-01-12","2005-12-01","2005-11-03","2005-10-06","2005-09-01","2005-07-07","2005-06-02","2005-05-04","2005-04-07","2005-03-03","2005-02-03","2005-01-13","2004-12-02","2004-11-04","2004-10-07","2004-09-02","2004-07-01","2004-06-03","2004-05-06","2004-04-01","2004-03-04","2004-02-05","2004-01-08","2003-12-04","2003-11-06","2003-10-02","2003-09-04","2003-07-10","2003-06-05","2003-05-08","2003-04-03","2003-03-06","2003-02-06","2003-01-09","2002-12-05","2002-11-07","2002-10-10","2002-09-12","2002-07-04","2002-06-06","2002-05-02","2002-04-04","2002-03-07","2002-02-07","2002-01-03","2001-12-06","2001-11-08","2001-10-11","2001-08-30","2001-07-05","2001-06-21","2001-06-07","2001-05-10","2001-04-11","2001-03-01","2001-02-01","2000-12-14","2000-11-02","2000-10-19","2000-10-05","2000-09-14","2000-07-06","2000-06-08","2000-05-11","2000-04-13","2000-03-30","2000-03-02","2000-02-03","2000-01-05","1999-12-02","1999-11-04","1999-10-07","1999-09-09","1999-07-15","1999-06-02","1999-05-06","1999-04-08","1999-03-04","1999-02-04","1999-01-07","1998-12-22","1998-12-01","1998-11-03","1998-10-13","1998-09-11","1998-07-08","1998-06-09"]; (function(){ const get_index_date = (index)=>str_to_date(ECB.data["all_pc_historical_dates"][index]); const is_UTC_equal = (a,b) => a.getUTCDate()==b.getUTCDate()&&a.getUTCMonth()==b.getUTCMonth()&&a.getUTCFullYear()==b.getUTCFullYear() const set_utc_date = (year,month,day) => { const result = new Date(); result.setUTCDate(day); result.setUTCMonth(month); result.setUTCFullYear(year); return result; }; const str_to_date = (str)=>{ const parts = str.split("-").map(a=>parseInt(a)); return set_utc_date(parts[0],parts[1]-1,parts[2]); }; const min_date = set_utc_date(1998,5,9); const max_date = get_index_date(0); const get_valid_dates = ()=>{ let index_count = 0; let focus_date = new Date(max_date.getTime()); let index_date = get_index_date(0); const result = []; while(focus_date > min_date){ if(is_UTC_equal(focus_date,index_date)){ if(index_count+1<ECB.data["all_pc_historical_dates"].length){ index_count++; index_date = get_index_date(index_count); } }else{ result.push(new Date(focus_date.getTime())); } focus_date.setUTCDate(focus_date.getUTCDate()-1); } return result; }; const disabled_dates = get_valid_dates(); const picker = MCDatepicker.create({ el: '#input_date_picker', disableWeekends: true, closeOnBlur: true, selectedDate: new Date(2024,9,17), maxDate: max_date, minDate: min_date, firstWeekday: 1, dateFormat: "YYYY-MM-DD", customClearBTN: "", disableDates: disabled_dates, theme: { theme_color: '#003299' } }); picker.onSelect((date,formatedDate) => document.location.href="?date="+formatedDate); document.querySelector("button.date-picker").addEventListener("click",()=>picker.open()); })(); </script> <div class="in-this-section" id="pages-in-section-holder"> <h3>All pages in this section</h3> <div class="content-box"> </div> </div> </main> </div> <div id="feedback" class="hidden"> <div class="content-box"> <div class="initial"> <div class="title">Are you happy with this page?</div> <a class="button -inverted-color" id="feedback-yes">Yes</a> <a class="button -inverted-color" id="feedback-no">No</a> </div> <div class="second hidden"> <div class="title">What made you unhappy?</div> <a class="button -inverted-color" id="feedback-broken">Page not working</a> <a class="button -inverted-color" id="feedback-content">Information not useful</a> <a class="button -inverted-color" id="feedback-design">Design not attractive</a> <a class="button -inverted-color" id="feedback-other">Something else</a> </div> <div class="final hidden"> <div class="title">Thank you for letting us know!</div> </div> </div> </div> <footer id="ecb-doc-footer"> <div class="ecb-footerTop"> <div class="sitemap"> <a href="/home/sitedir/html/index.en.html" title="Site Directory">Site directory</a> </div> <div class="socialLinks"> <a class="inline-link" href="/home/socialmedia/html/index.en.html" title="Official social media channels">FOLLOW US</a> <a href="http://twitter.com/ecb" class="twitter" title="X"></a> <a href="https://www.linkedin.com/company/european-central-bank" class="linkedin" title="LinkedIn"></a> <a href="https://www.instagram.com/europeancentralbank/" class="instagram" title="Instagram"></a> <a href="https://www.youtube.com/user/ecbeuro" class="youtube" title="YouTube"></a> <a href="https://www.flickr.com/photos/europeancentralbank/sets/" class="flickr" title="Flickr"></a> <a href="https://soundcloud.com/europeancentralbank" class="soundcloud" title="Soundcloud"></a> <a href="/rss" class="rss" title="RSS news feeds"></a> </div> </div><div class="ecb-footerBottom"> <p><span>Copyright 2024, </span>European Central Bank</p> <div class="ecb-serviceNavigation"> <div class="ecb-serviceNavigationBox"> <div class="ecb-serviceNavigationBoxTitle">Useful links</div> <div class="ecb-serviceNavigationBoxLinks"> <ul> <li><a href="/careers/vacancies/html/index.en.html">Work with us</a></li> <li><a href="/services/glossary/html/index.en.html">Glossary</a></li> <li><a href="/services/links/html/index.en.html">Other institutions</a></li> </ul> </div> </div> <div class="ecb-serviceNavigationBox"> <div class="ecb-serviceNavigationBoxTitle">Using our site</div> <div class="ecb-serviceNavigationBoxLinks"> <ul> <li><a href="/services/disclaimer/html/index.en.html">Disclaimer & Copyright</a></li> <li><a href="/services/data-protection/privacy-statements/website/html/index.en.html">Privacy statement</a></li> <li><a href="/services/languagepolicy/html/index.en.html">Language policy</a></li> <li><a href="/services/using-our-site/technical-updates/html/index.en.html">Technical updates to this site</a></li> </ul> </div> </div> <div class="ecb-serviceNavigationBox"> <div class="ecb-serviceNavigationBoxTitle">Corporate Policies</div> <div class="ecb-serviceNavigationBoxLinks"> <ul> <li><a href="/services/data-protection/html/index.en.html">Data Protection</a></li> <li><a href="/ecb/access_to_documents/html/index.en.html">Access to documents</a></li> <li><a href="/services/responsible-disclosure/html/index.en.html">Responsible disclosure</a></li> </ul> </div> </div> <div class="ecb-serviceNavigationBox"> <div class="ecb-serviceNavigationBoxTitle">Contact</div> <div class="ecb-serviceNavigationBoxLinks"> <ul> <li><a href="/ecb/contacts/html/index.en.html">Contacts</a></li> <li><a href="/services/contacts/address/html/index.en.html">Address</a></li> <li><a href="/services/contacts/working-hours/html/index.en.html">Public holidays</a></li> </ul> </div> </div> </div> </div> <!-- <button id='back-to-top' class='fa fa-angle-up'>Back to top</button> --> </footer> <style> [data-count]{ position: relative; } [data-count]::after{ position: absolute; right: -20px; bottom: 0px; display: block; content: attr(data-count); color: rgba(255, 255, 255, 0.8); text-shadow: 0 0 8px black; font-size: 11px; } body.hideCount [data-count]::after{ display: none; } </style> <script> (function(){ let addedCount = false; let addCount = function(){ let list = document.querySelectorAll("h2,h3,h4,p,a"); for(var i = 0; i < list.length; i++){ let item = list[i]; item.setAttribute("data-count",item.textContent.length); } } document.onkeypress = function(e){ if(e.ctrlKey && e.code == "KeyM"){ if(addedCount){ document.body.classList.add('hideCount'); addedCount = false; }else{ document.body.classList.remove('hideCount'); addCount(); addedCount = true; } } } })(); </script> <link rel="stylesheet" href="/shared/dist/css/print.min.css?2728911" media="print"> <div class="ecb-cookieConsent hidden" id="cookieConsent"> <div class="initial"> <h2>Our website uses cookies</h2> <p>We are always working to improve this website for our users. To do this, we use the anonymous data provided by cookies.<br> <a href="/home/data-protection/privacy-statements/website/html/index.en.html" class="arrow">Learn more about how we use cookies</a></p> <div class="consentButtons initial cf"> <a class="check linkButton linkButtonLarge floatLeft highlight-medium">I understand and I accept the use of cookies</a> <a class="cross linkButton linkButtonLarge floatRight highlight-extra-light">I do not accept the use of cookies</a> </div> </div> <div class="accepted hidden"> <div style="background-image:url(/shared/nav/svg/cookies_accepted.svg);width:100px;height:100px;margin:auto" class="img"></div> <h2>Thank you!</h2> </div> <div class="refused hidden"> <div style="background-image:url(/shared/nav/svg/cookies_refused.svg);width:100px;height:100px;margin:auto" class="img"></div> <h2>Thank you!</h2> </div> <div class="updated hidden"> <h2>We have updated our privacy policy</h2> <p>We are always working to improve this website for our users. To do this, we use the anonymous data provided by cookies.<br> <a href="/home/data-protection/privacy-statements/website/html/index.en.html" class="arrow">See what has changed in our privacy policy</a></p> <div class="consentButtons updated cf"> <a class="check linkButton linkButtonLarge floatLeft highlight-medium">I understand and I accept the use of cookies</a> <a class="cross linkButton linkButtonLarge floatRight highlight-extra-light">I do not accept the use of cookies</a> </div> </div> <div class="expired hidden"> <h2>Your cookie preference has expired</h2> <p>We are always working to improve this website for our users. To do this, we use the anonymous data provided by cookies.<br> <a href="/home/data-protection/privacy-statements/website/html/index.en.html" class="arrow">Learn more about how we use cookies</a></p> <div class="consentButtons expired cf"> <a class="check linkButton linkButtonLarge floatLeft highlight-medium">I understand and I accept the use of cookies</a> <a class="cross linkButton linkButtonLarge floatRight highlight-extra-light">I do not accept the use of cookies</a> </div> </div> </div> <div class="cookieBlockedMessage template hidden"> <div class="cookieBlockedContentHolder"> <div class="mainCookieBlockedMessage">This feature requires cookies.</div> <a href="/home/data-protection/privacy-statements/website/html/index.en.html" class="button">Privacy statement</a> </div> </div> <script src="/shared/js/analytics/pa_events.js?v=2605151" data-siteID="638441" data-collectDomain="https://qfknbhm.pa-cd.com"></script> <script src="/shared/dist/js/ieBlock.min.js" defer></script> </body> </html>