European System of Central Banks publicly reaffirms commitment to updated FX Global CodeCode promotes robust, fair, liquid, open and appropriately transparent foreign exchange marketCode first published in 2017 and updated in December 2024The European System of Central Banks (ESCB) welcomes the latest update of the FX Global Code, published in December 202...
Experimentation with almost 70 market participants highlights digital euro’s potential to foster innovation and financial inclusionECB to launch second round of experimentation through platform next year to maximise innovation potentialConditional payments identified as possible key driver of innovation for consumers and businessesA digital euro could fos...
OverviewAt its meeting on 11 September 2025, the Governing Council decided to keep the three key ECB interest rates unchanged. Inflation is currently at around the 2% medium-term target and the Governing Council’s assessment of the inflation outlook is broadly unchanged.The September 2025 ECB staff macroeconomic projections for the euro area present a pic...
The Governing Council today decided to keep the three key ECB interest rates unchanged. Inflation is currently at around the 2% medium-term target and the Governing Council’s assessment of the inflation outlook is broadly unchanged.The new ECB staff projections present a picture of inflation similar to that projected in June. They see headline inflation a...
1 OverviewTrade tariffs and related uncertainty contributed to strong fluctuations in economic activity during the first half of 2025, with frontloading of activity, especially in Ireland. The unwinding of these factors in the second half of the year is expected to entail further volatility, blurring signals of the underlying momentum of the euro area econ...
Annual growth rate of broad monetary aggregate M3 stood at 3.4% in July 2025, after 3.3% in June 2025Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, increased to 5.0% in July from 4.7% in June (revised from 4.6%)Annual growth rate of adjusted loans to households incre...
SummaryAt its meeting on 24 July 2025, the Governing Council decided to keep the three key ECB interest rates unchanged. Inflation is currently at the 2% medium-term target. The incoming information is broadly in line with the Governing Council’s previous assessment of the inflation outlook. Domestic price pressures have continued to ease, with wages grow...
