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Economic Events: European Central Bank

What is the ECB?

European Central Bank (ECB) is the joint central bank of 19 different countries within the European Union that use the Euro as their currency. ECB’s primary task is to preserve the single currency’s purchasing power and maintain stability in the pricing within the Euro-zone. The Governing Council is the decision making body of the ECB. Its made up of six Executive Board members and nineteen governors of each Euro area country’s national central bank.

The Governing Council meets regularly with the purpose of making decisions about interest rates, monetary policy, as well as making the decisions necessary to formulate the Euro-zone. They also form and implement guidelines that help keep the currency strong.

How Many ECB Meetings are there During the Year?

There are two meetings of the Governing Council of the ECB every month. The Governing Council is charged with assessing economic and monetary developments within the Eurozone.

Press conferences are held by the President of the ECB every 6 weeks with the assistance of ECB’s Vice President, in order to explain any monetary policy decisions. Meetings are published by the ECB before the next meetings to be held.

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