Episodi

  • Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% target in a timely manner.
    Listen to President Christine Lagarde present today’s decisions. The statement also covers:

    - how the economy is performing
    - how we expect prices to develop
    - the risks to the economic outlook
    - the dynamics behind financial and monetary conditions

    Recorded and published on 7 March 2024

    Our monetary policy statement at a glance, 7 March 2024 https://www.ecb.europa.eu/press/pressconf/visual-mps/2024/html/mopo_statement_explained_march.en.html
    Christine Lagarde, Luis de Guindos: Monetary policy statement, 7 March 2024 https://www.ecb.europa.eu/press/pressconf/2024/html/ecb.is240307~314650bd5c.en.html
    Monetary policy decisions, 7 March 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240307~a5fa52b82b.en.html
    Combined monetary policy decisions and statement, 7 March 2024 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds240307~8e06c79bf2.en.pdf?e86e578f1a99fdaa095a37dc4f1f6355

    European Central Bank
    https://www.ecb.europa.eu/home/html/index.en.html
    You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

  • Did you know that euro banknotes are getting a makeover? As the euro turns 25, let’s look at the road ahead for our banknotes. What will future euro banknotes look like, why do we need them, and when can we start using them?

    Join our host Stefania Secola and Sarai Artiles, who works on banknote communications, to find out more.

    The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    Published on 10 February 2024 and recorded on 1 February 2024.

    In this episode:

    00:05 – The euro is turning 25
    The euro unites us – it is used by 350 million people in 20 countries! Euro banknotes are a physical reminder of our shared identity.

    01:56 – Why are we redesigning euro banknotes?
    Security, environmental aspects and relatability: these are just some of the reasons we are designing a new series of euro banknotes.

    05:28 – Many cultures, one euro
    Euro banknotes are used by people with different backgrounds, cultures, and languages. How can future banknotes represent them all?

    08:50 – What will they look like?
    “European culture” and “Rivers and birds” have been selected as the themes for future euro banknotes. Does this mean we already know what they’ll look like?

    10:20 – When can we start using them?
    We have the themes, but what’s next in the banknote redesign process? When can we expect to start using these new banknotes?

    12:30 – Our guest’s hot tip

    Additional material:

    Press release: ECB selects “European culture” and “Rivers and birds” as possible themes for future euro banknotes
    https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr231130~cad7fa27ab.en.html

    Press release: ECB surveys Europeans on new themes for euro banknotes
    https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr230710~77cf718c59.en.html

    Podcast: All you need to know about euro banknotes
    https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220205_episode27.en.html

    Webpage: FAQ on the redesign of euro banknotes
    https://www.ecb.europa.eu/euro/banknotes/future_banknotes/html/ecb.faq_banknotes_redesign.en.html

    Webpage: The redesign process
    https://www.ecb.europa.eu/euro/banknotes/future_banknotes/redesign/html/index.en.html

    European Central Bank
    http://www.ecb.europa.eu/

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  • What lies ahead on our path to a greener future? How can we assess the impact of extreme weather on the economy? And how can we tackle financial risks from nature loss and degradation? With its new climate and nature plan, the ECB is stepping up its work in these areas over the next two years.

    Our host Stefania Secola discusses this and more with the head of the ECB’s climate change centre, Irene Heemskerk.

    The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    Published on 31 January 2024 and recorded on 23 January 2024.

    In this episode:

    01:00 – The ECB’s work on climate
    What has the ECB done so far to help tackle climate change, what does it plan to focus on going forward and why is this work important?

    04:35 – The intensifying climate crisis
    As global temperatures rise and extreme climate events become more frequent and more devastating, what is the impact on the economy and the financial system? What can the ECB do about it?

    07:40– Keeping the green transition on course
    Time is running out to contain global warming and meet the Paris Agreement targets. Governments are in the driving seat but we’re all heading in the same direction. How can economic analysis contribute to these efforts, and how can we unlock the funds needed to keep the green transition moving forward?

    13:15 – Defining a role for monetary policy
    The ECB has already tilted its corporate bond holdings towards issuers with better climate performance. What else can it do, within its mandate, to support the green transition? What role can interest rates play?

    15:00 – From climate change to environmental crises: nature and biodiversity loss
    Euro area firms and banks are highly dependent on nature, but nature is being rapidly devastated by human activity. What are the economic and financial risks stemming from nature degradation?

    17:22 - Our guest’s hot tip
    ECB climate change centre head Irene Heemskerk shares her hot tip with our listeners.

    Additional material:

    Press release: ECB steps up climate work with focus on green transition, climate and nature-related risks, 30 January 2024
    https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.pr240130~afa3d90e07.en.html

    The ECB’s climate and nature plan 2024-25
    https://www.ecb.europa.eu/ecb/climate/our-climate-and-nature-plan/html/index.en.html

    Climate change and the ECB https://www.ecb.europa.eu/ecb/climate/html/index.en.html

    The ECB’s publications on climate change https://www.ecb.europa.eu/home/search/html/climate_change.en.html

    The ECB Podcast: What biodiversity and nature loss mean for our economy, 25 November 2023
    https://www.youtube.com/watch?v=DP3tRzELPLY

    European Central Bank

    www.ecb.europa.eu

    www.bankingsupervision.europa.eu

  • Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% goal in a timely manner.
    Listen to President Christine Lagarde present today’s decisions. The statement also covers:
    - how the economy is performing
    - how we expect prices to develop
    - the risks to the economic outlook
    - the dynamics behind financial and monetary conditions
    Published and recorded during our press conference on 25 January 2024.

    Our monetary policy statement at a glance, 25 January 2024 https://www.ecb.europa.eu/press/pressconf/visual-mps/2024/html/mopo_statement_explained_january.en.html

    Christine Lagarde, Luis de Guindos: Monetary policy statement, 25 January 2024 https://www.ecb.europa.eu/press/pressconf/2024/html/ecb.is240125~db0f145c32.en.html

    Monetary policy decisions, 25 January 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240125~f738889bde.en.html

    Combined monetary policy decisions and statement, 25 January 2024 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds240125~d65b43331a.en.pdf

    European Central Bank
    https://www.ecb.europa.eu/home/html/index.en.html

    You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

  • Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% goal in a timely manner.

    Listen to President Christine Lagarde present today’s decisions. The statement also covers:

    - how the economy is performing
    - how we expect prices to develop
    - the risks to the economic outlook
    - the dynamics behind financial and monetary conditions

    Published and recorded during our press conference on 14 December 2023.


    Additional material

    Our monetary policy statement at a glance, 14 December 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_december.en.html
    Christine Lagarde, Luis de Guindos: Monetary policy statement, 14 December 2023 https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is231214~df8627de60.en.html
    Monetary policy decisions, 14 December 2023 https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp231214~9846e62f62.en.html
    Combined monetary policy decisions and statement, 14 December 2023 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds231214~cbcff0882a.en.pdf
    Macroeconomic projections, 14 December 2023 https://www.ecb.europa.eu/pub/projections/html/index.en.html

    European Central Bank
    https://www.ecb.europa.eu/home/html/index.en.html

    You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

  • Outgoing Supervisory Board Chair Andrea Enria sat down with President Christine Lagarde during the ECB Forum on Banking Supervision to look back on his five-year term, marked by challenges such as the pandemic and reflects on the most difficult decision he had to take.

    He also reflects on the decisions taken to overcome these challenges, and what the future holds for European banking supervision.

    Recorded on 1 December 2023 and published on 9 December 2023.

    Additional material:

    President Christine Lagarde’s welcome address at the fifth ECB Forum on Banking Supervision
    https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp231130~48f5947179.en.html

    ECB Forum on Banking Supervision
    https://www.bankingsupervision.europa.eu/press/conferences/html/20231130_5th_ECB_Forum_Banking_supervision.en.html

    European Banking Supervision
    https://www.bankingsupervision.europa.eu/home/html/index.en.html

    European Central Bank www.ecb.europa.eu

  • How are financial markets reacting to higher rates, a sluggish economy and geopolitical tensions? Should we worry about property markets?

    Our host Stefania Secola puts these questions to financial stability expert John Fell on The ECB Podcast.

    The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    Published on 2 December 2023 and recorded on 27 November 2023.

    In this episode:
    01:08 – Financial markets’ optimism is put to the test
    How are financial markets reacting to the new environment of high interest rates, a sluggish economy and rising geopolitical tensions?

    06:00 – The conundrum of banks’ increasing profits and stagnant valuations
    Banks’ profits are at multi-year highs, yet their valuations haven’t changed much. What factors explain this?

    10:31 – Real estate markets are a source of concern
    Residential and commercial property markets are feeling the impact of higher interest rates. What are the implications for banks and financial stability?

    16:06 – The yin and the yang of financial stability
    As the credit cycle turns, and with several vulnerabilities unravelling, can resilience compensate?

    18:22 – Conclusion

    Additional material:

    Financial Stability Review, November 2023 https://www.ecb.europa.eu/pub/financial-stability/fsr/html/index.en.html

    FSR Box 5 on Euro area bank fundamentals, valuations and cost of equity
    https://www.ecb.europa.eu/pub/financial-stability/fsr/html/ecb.fsr202311~bfe9d7c565.en.html#toc27

    Special feature B on Real estate markets in an environment of high financing costs
    https://www.ecb.europa.eu/pub/financial-stability/fsr/html/ecb.fsr202311~bfe9d7c565.en.html#toc40

    The ECB Podcast: Financial stability and bank runs, June 2023 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230607_episode60.en.html

    European Central Bank www.ecb.europa.eu

  • Nature is in danger. This affects us all, including businesses and banks. Why is this relevant for the ECB’s mandate?

    Join our host Stefania Secola and her guest Frank Elderson, Executive Board member and Supervisory Board Vice-Chair, as they discuss nature loss, its impact on our economy and what we’re doing about it.

    The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    Published on 25 November 2023 and recorded on 17 November 2023.

    In this episode:

    00:05 – Nature is in danger
    Habitats and species are in decline. How does this affect our economies? And if our mandate is to maintain price stability and keep euro area banks safe and sound, why does the ECB care about biodiversity loss?

    02:01 – The economic impact of biodiversity loss
    How big is the impact of biodiversity loss on people and businesses? How much are banks, and the wider economy, affected? And what’s the ECB’s role in this?

    08:38 – What’s the ECB doing about nature loss?
    Knowledge is the first step. Quantifying the impact that nature loss has on our economies and banks is important. But what can the ECB do with these findings?

    15:51 – Are banks doing enough?
    We’ve asked banks to come up with action plans to assess their climate and environmental risks. But they need to make more progress.

    17:45 – Our guest’s hot tip
    Executive Board member and Supervisory Board Vice-Chair, Frank Elderson, shares his hot tip with our listeners.

    Additional material:

    Occasional Paper: Living in a world of disappearing nature: physical risk and the implications for financial stability
    https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op333~1b97e436be.en.pdf?90e7aaae4ef927f887a787587a22adba

    The ECB Blog by Frank Elderson: The economy and banks need nature to survive
    https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog230608~5cffb7c349.en.html

    The ECB Podcast: Are banks walking the talk on climate?
    https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221102_episode44.en.html

    The ECB Podcast: Being transparent about climate risks
    https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230513_episode58.en.html

    “Addressing tipping points for a precarious future” by Timothy O’Riordan and Timothy Lenton

    European Central Bank
    http://www.ecb.europa.eu/

  • Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% goal in a timely manner.

    Listen to President Christine Lagarde present today’s decisions.

    The statement also covers:
    - how the economy is performing
    - how we expect prices to develop
    - the risks to the economic outlook
    - the dynamics behind financial and monetary conditions

    Published and recorded during our press conference on 26 October 2023 in Athens, Greece.

    Additional material:

    Our monetary policy statement at a glance, 26 October 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_october.en.html

    Christine Lagarde, Luis de Guindos: Monetary policy statement, 26 October 2023 https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is231026~c23b4eb5f0.en.html

    Monetary policy decisions, 26 October 2023 https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp231026~6028cea576.en.html

    Combined monetary policy decisions and statement, 26 October 2023 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds231026~3af2df9818.en.pdf

    European Central Bank
    https://www.ecb.europa.eu/home/html/index.en.html

    You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

  • Will we soon pay with a digital euro? Would it replace cash? And who is it for? Although no decision has been made on issuance, we are preparing for a possible digital euro. This is fuelling a lot of interest − and quite a few misconceptions.

    Join our host Stefania Secola and her guest Evelien Witlox, head of the ECB’s digital euro project, as they set the record straight by busting some myths on the topic.

    The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    Published on 24 October 2023 and recorded on 19 October 2023.

    In this episode:

    00:20 – Digitalisation in payments
    The world is becoming increasingly digital, and the way we pay is no exception. To ensure our euro is future-proof, the ECB has decided to proceed with a digital euro preparation phase.

    01:28 – The project moves ahead
    What does the decision to move to the next phase mean? Will we soon be able to pay with a digital euro?

    04:01 – The need for a digital euro
    I can already pay digitally with my bank card, my phone or even my watch. What’s the difference between doing this and paying with a digital euro?

    06:25 – Digital euro and cash
    What about euro cash? Will a digital euro replace banknotes and coins?

    09:35 – Who will use it?
    Is a digital euro only for young people in big cities? Will it exclude people who don’t have a phone?

    10:34 – Data and the digital euro
    Will the ECB collect personal data when you pay with the digital euro and if so, for what purpose?

    12:51 – The project team
    Who’s involved in the digital euro project? Is the ECB doing all this alone?

    15:20 – Our guest’s hot tip

    Additional material:

    Press release: Eurosystem proceeds to next phase of digital euro project
    https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr231018~111a014ae7.en.html

    Digital euro hub page
    https://www.ecb.europa.eu/paym/digital_euro/html/index.en.html

    Webpage: Why do we need a digital euro
    https://www.ecb.europa.eu/paym/digital_euro/why-we-need-it/html/index.en.html

    The ECB Podcast: A digital euro: what, why, when? (part 1)
    https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221015_episode41.en.html

    The ECB Podcast: A digital euro: what, why, when? (part 2)
    https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221019_episode42.en.html'

    European Central Bank
    http://www.ecb.europa.eu/

  • How can new technologies improve banking supervision? What challenges do they bring for supervisors? And how will artificial intelligence make Europe’s banks safer?

    Our new host Stefania Secola explores this topic with Supervisory Board member Elizabeth McCaul.

    A warm welcome to Stefania and a big thanks for standing in for Katie Ranger, who is away for a while.

    The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    Published on 28 September 2023 and recorded on 22 September 2023.

    In this episode:

    01:25 – Digitalisation in banking supervision
    How are technological changes affecting supervision? What kinds of supervisory technology – also known as suptech – are we using? And will robots end up supervising banks?

    5:07 – Using suptech to sort data
    How do supervisors use technology to analyse big amounts of data? Why is this important? And how does this help bank customers?

    10:20 – Artificial intelligence (AI)
    How do we use technology to make sure banks are run by the right people? Is human judgment still important when using artificial intelligence?

    12:07 – The people behind new technologies
    How do different supervisory teams cooperate? And how does technology help fight financial crime?

    15:15 – Our guest’s hot tip
    Supervisory Board member, Elizabeth McCaul, shares her hot tips with our listeners.

    Additional material:

    Technology, data and innovation – shaping the future of supervision. Keynote speech by Elizabeth McCaul
    https://www.bankingsupervision.europa.eu/press/speeches/date/2023/html/ssm.sp230920_1~9315562707.en.html

    Supervision Newsletter – Digital transformation requires strong governance and steering
    https://www.bankingsupervision.europa.eu/press/publications/newsletter/2023/html/ssm.nl230517_3.en.html

    The ECB Podcast: Let's get digital on inflation, climate and the euro
    https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220811_episode39.en.html

    The ECB Blog by Myriam Moufakkir: Machines help to crunch the numbers, 28 September 2023
    https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog230928~3f76d57cce.en.html

    European Central Bank
    www.ecb.europa.eu
    European Banking Supervision
    www.bankingsupervision.europa.eu

  • Today our Governing Council decided on monetary policy, determining what’s needed to achieve stable prices in the euro area.

    Listen to President Christine Lagarde present today’s decisions.

    The statement also covers:

    - how the economy is performing
    - how we expect prices to develop
    - the risks to the economic outlook
    - the dynamics behind financial and monetary conditions

    Published and recorded during our press conference on 14 September 2023.

    Additional material:

    Our monetary policy statement at a glance, 14 September 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_september.en.html

    Christine Lagarde, Luis de Guindos: Monetary policy statement, 14 September 2023 https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is230914~686786984a.en.html

    Monetary policy decisions, 14 September 2023 https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230914~aab39f8c21.en.html

    Combined monetary policy decisions and statement, 14 September 2023 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds230914~bfc89c4456.en.pdf

    Macroeconomic projections, 14 September 2023 https://www.ecb.europa.eu/pub/projections/html/index.en.html

    European Central Bank
    https://www.ecb.europa.eu/home/html/index.en.html

    You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more on pod.link/ecbpodcast

  • Banks are one of the main channels through which our monetary policy decisions reach the economy. How have they passed on our recent interest rate hikes? Has it been the same for loans as for savings? And what is the impact on people and firms?
    Our host Katie Ranger and Chief Economist Philip R. Lane unpick these questions in the third and final episode of our Summer School mini-series.
    The views expressed are those of the speakers and not necessarily those of the European Central Bank.
    Published on 18 August 2023 and recorded on 27 July 2023.

    Additional material [to be added as a heading in SoundCloud]
    The ECB Podcast Summer School #1: a deep dive into inflation – August 2023 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230804_episode66.en.html

    The ECB Podcast Summer School #2: the nuts and bolts of interest rates – August 2023
    https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230811_episode67.en.html

    The ECB Podcast: are wages and greedflation really pushing up prices? June 2023 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230623_episode62.en.html

    Our monetary policy statement at a glance – July 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_july.en.html

    European Central Bank www.ecb.europa.eu

  • We’ve been raising interest rates to bring down inflation. How does that work? Are we already seeing the impact on prices? And is this the end of super-low rates?
    Our host Katie Ranger puts these questions to Chief Economist Philip R. Lane in the second episode of our Summer School mini-series.
    The views expressed are those of the speakers and not necessarily those of the European Central Bank.
    Published on 11 August 2023 and recorded on 27 July 2023.

    Additional material [pls add this as a headline on soundcloud too]
    The ECB Podcast Summer School #1: a deep dive into inflation https://soundcloud.com/europeancentralbank/the-ecb-podcast-summer-school-a-deep-dive-into-inflation
    The ECB Podcast: are wages and greedflation really pushing up prices? June 2023 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230623_episode62.en.html
    Our monetary policy statement at a glance – July 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_july.en.html
    European Central Bank www.ecb.europa.eu

  • Inflation is falling, but it’s still higher than we want it to be. What’s making it hard to tackle? And what will determine how prices and wages develop?

    Our host Katie Ranger gets to the bottom of this with our Chief Economist Philip R. Lane in our new Summer School mini-series.

    The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    Published on 4 August 2023 and recorded on 27 July 2023.

    Additional material

    Consumer Expectations Survey https://www.ecb.europa.eu/stats/ecb_surveys/consumer_exp_survey/html/index.en.html

    Economic Bulletin: Underlying inflation measures: an analytical guide for the euro area https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202305_05~84e89bcb5d.en.html

    The ECB Podcast: are wages and greedflation really pushing up prices? June 2023 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230623_episode62.en.html

    Our monetary policy statement at a glance – July 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_july.en.html

  • Today our Governing Council decided on monetary policy, determining what’s needed to achieve stable prices in the euro area.

    Listen to President Christine Lagarde present today’s decisions. The statement also covers:

    - how the economy is performing
    - how we expect prices to develop
    - the risks to the economic outlook
    - the dynamics behind financial and monetary conditions

    Published and recorded during our press conference on 27 July 2023.

    European Central Bank
    https://www.ecb.europa.eu/home/html/index.en.html

    You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

    Additional material:

    Our monetary policy statement at a glance, 27 July 2023 [link to visual monetary policy statement]

    Christine Lagarde, Luis de Guindos: Monetary policy statement, 27 July 2023 https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is230727~e0a11feb2e.en.html

    Monetary policy decisions, 27 July 2023 https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230727~da80cfcf24.en.html

    Combined monetary policy decisions and statement, 27 July 2023 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds230727~9e147b657d.en.pdf

  • How are changes in energy markets affecting people’s daily lives? And how can we make our economies more resilient to these shocks? Our host Katie Ranger discusses recent developments in energy markets and their impact on our economies with Norges Bank Governor Ida Wolden Bache while at the ECB Forum on Central Banking.

    Published on 29 June 2023 and recorded on 27 June 2023.

    ECB Forum on Central Banking 2023 – programme https://www.ecb.europa.eu/pub/conferences/html/20230626_ecb_forum_on_central_banking.en.html

    European Central Bank www.ecb.europa.eu

  • How stable is the global economic recovery? And is geoeconomic fragmentation a threat?
    Gita Gopinath, the IMF’s First Deputy Managing Director, joins our host Katie Ranger on the ECB Podcast to discuss these and other questions while at the ECB Forum on Central Banking in Sintra, Portugal.
    Published on 27 June 2023 and recorded on 27 June 2023.

    Further reading:
    Three Uncomfortable Truths For Monetary Policy - Remarks by Gita Gopinath at the ECB Forum on Central Banking, 26 June 2023
    https://www.ecb.europa.eu/pub/conferences/ecbforum/shared/pdf/2023/Gopinath_speech.pdf

    Three Uncomfortable Truths For Monetary Policy - Presentation by Gita Gopinath at the ECB Forum on Central Banking, 26 June 2023
    https://www.ecb.europa.eu/pub/conferences/ecbforum/shared/pdf/2023/Gopinath_presentation.pdf

    IMF’s world economic outlook 2023
    https://www.imf.org/en/Publications/WEO/Issues/2023/04/11/world-economic-outlook-april-2023

    IMF’s report on geoeconomic fragmentation and the future of multilateralism
    https://www.imf.org/en/Publications/Staff-Discussion-Notes/Issues/2023/01/11/Geo-Economic-Fragmentation-and-the-Future-of-Multilateralism-527266

    ECB Forum on Central Banking 2023 – programme
    https://www.ecb.europa.eu/pub/conferences/html/20230626_ecb_forum_on_central_banking.en.html

    Link to Gita Gopinath's opening speech, 26th of June:
    https://youtube.com/live/wbIbpItoOT4?feature=share

    European Central Bank
    www.ecb.europa.eu

  • What is the risk of a wage-price spiral? How long will we go on raising interest rates? And are companies’ high profits fuelling inflation?

    Our host Katie Ranger discusses these questions with our Chief Economist Philip R. Lane on The ECB Podcast.

    The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    Published on 23 June 2023 and recorded on 20 June 2023.

    In this episode:

    1:20 – The ECB’s latest monetary policy decisions
    Why are we raising interest rates again and when will we reach the right rate to bring inflation down to our 2% target?

    6:56 – Underlying versus headline inflation: what’s the difference?
    What do we understand by core, headline and underlying inflation, what role do energy prices play, and which way is inflation going?

    15:02 – The risk of a wage-price spiral
    What is the risk of a wage-price spiral, why can it be dangerous and how can we avoid it?

    19:44 – The ‘’greedflation’’ phenomenon
    Are companies’ widening profit margins driving up inflation – and if so, how will this situation rebalance?

    23:47 – Our guest’s hot tip
    Our guest, Philip R. Lane, recommends that our listeners take a look at the 2023 Young Economist Prize finalists’ papers – and tune in to the ECB Forum on Central Banking to hear the winner being announced.

    Further reading:

    The ECB Forum on Central Banking 2023 – Programme
    https://www.ecb.europa.eu/pub/conferences/html/20230626_ecb_forum_on_central_banking.en.html

    Meet the finalists of the 2023 Young Economist Prize
    https://www.ecb.europa.eu/pub/conferences/ecbforum/YE_competition/html/index.en.html

    Our monetary policy statement at a glance – June 2023
    https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_june.en.html

    European Central Bank
    www.ecb.europa.eu

  • Today our Governing Council decided on monetary policy, determining what’s needed to achieve stable prices in the euro area.

    Listen to President Christine Lagarde present today’s decisions. The statement also covers:

    - how the economy is performing
    - how we expect prices to develop
    - the risks to the economic outlook
    - the dynamics behind financial and monetary conditions

    Published and recorded during our press conference on 15 June 2023.

    Additional material:

    Our monetary policy statement at a glance, 15 June 2023
    https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_june.en.html

    Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A), 15 June 2023
    https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is230615~3de9d68335.en.html

    Monetary policy decisions, 15 June 2023
    https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230615~d34cddb4c6.en.html

    Combined monetary policy decisions and statement, 15 June 2023
    https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds230615~19be62590b.en.pdf

    Macroeconomic projections, 15 June 2023
    https://www.ecb.europa.eu/pub/projections/html/index.en.html

    European Central Bank
    https://www.ecb.europa.eu/home/html/index.en.html

    You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast