European Central Bank
ECBPaper
Non-banks amplify monetary policy transmission, paper finds
A new European Central Bank (ECB) Occasional Paper finds that non-bank financial intermediaries (NBFIs) tend to amplify monetary policy transmission in the euro area.
Focus
ECBPaper
Network structure alters shock propagation, impacts monetary policy
A new ECB Occasional Paper synthesizes research on how production networks and firm heterogeneity influence monetary policy transmission.
ECBPaper
Structural shifts reshape monetary policy transmission
An ECB Occasional Paper surveys research on how ongoing structural change is affecting monetary policy transmission in the euro area.
Latest
ECBSpeech
Lagarde defends rate hike, signals data-dependent policy path
ECB President Christine Lagarde defended the recent interest rate hike in a July 2 interview with Les Échos.
ECBSpeech
Cipollone sees digital euro and tokenisation reshaping payments
ECB Executive Board member Piero Cipollone outlined the central bank's comprehensive strategy for the digital transformation of money, payments, and finance.
ECBSpeech
Elderson says green transition curbs inflation and climate risk
Frank Elderson, Member of the ECB's Executive Board, highlighted how the green transition is crucial for mitigating inflation volatility and economic uncertainty.
More Topics
ECBDecoder
Gulf supply disruptions threaten global growth and inflation
A new ECB blog post uses scenario-based analyses to show that supply shortages from Gulf trade disruptions can affect global growth and inflation beyond the direct impact on energy prices.
ECBSpeech
Lagarde sees policy return to basics, new global shocks
ECB President Christine Lagarde stated that monetary policy is returning to its fundamental principles, focusing on policy rates as the primary tool.
ECBSpeech
Schnabel: Energy shock fuels inflation, higher rates expected
Isabel Schnabel, Member of the Executive Board of the European Central Bank, warned that the recent energy shock is pushing euro area inflation higher.
ECBPaper
MIP statistics quality assessed by ESS-ESCB, areas for improvement
The 12th joint annual quality report by the European Statistical System (ESS) and the European System of Central Banks (ESCB) concludes that macroeconomic statistics underlying the Macroeconomic Imbalance Procedure (MIP) are fit for purpose.
ECBNews
Euro area inflation outlook improves for next 12 months
Euro area consumers expect inflation to decrease to 3.5 percent over the next 12 months, down from 4.0 percent in April.
ECBSpeech
Cipollone outlines ECB digital money strategy
Piero Cipollone, Member of the Executive Board of the European Central Bank, presented the ECB's comprehensive payments strategy at the International Banking Federation Board Meeting on June 25, 2026.