European Central Bank
ECBPaper
ECB balance sheet contracts by €37.3 billion, annual loss significantly lower
The European Central Bank's balance sheet contracted by €37.3 billion in 2025, primarily due to the decline in monetary policy securities.
Focus
ECBNews
ECB reports significantly lower loss of €1.3 billion for 2025
The European Central Bank reported a loss of €1,254 million for 2025, a significant reduction from the €7,944 million loss in 2024, primarily due to lower net interest expense.
ECBNews
Boris Vujčić approved as next ECB Vice-President
The European Central Bank's Governing Council has approved Boris Vujčić as the proposed candidate for its next Vice-President.
Latest
ECBPaper
Monetary policy hikes increase homeowners insurance prices, amplifying housing market impacts
A new ECB Working Paper reveals that contractionary monetary policy shocks lead to higher homeowners insurance prices.
ECBDecoder
Tariffs impede business dynamism and long-term growth in Europe
Rising tariffs are placing European companies under strain, threatening business dynamism and long-term economic growth.
ECBPaper
Asset management companies stabilize credit by breaking NPL feedback loop
A new European Central Bank working paper finds that asset management companies (AMCs) effectively stabilize credit by purchasing nonperforming loans (NPLs) and breaking the feedback loop between default rates and lending costs.
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ECBPaper
Model comparison reveals climate transition challenges for monetary policy
A new ECB working paper compares several multi-sector monetary models to analyze the macroeconomic effects of carbon-intensive energy price changes.
ECBPaper
New Macro-Finance FCI improves euro area monetary policy assessment
A new ECB working paper introduces a novel Macro-Finance Financial Conditions Index for the euro area.
ECBSpeech
Lagarde urges Europe to unlock growth potential through scale
ECB President Christine Lagarde outlined Europe's new growth model, emphasizing the need to turn its size into scale by overcoming structural barriers.
ECBPaper
Macroprudential measures tighten euro area mortgage lending standards
A new ECB working paper finds that euro area banks generally tightened mortgage lending standards around the implementation of borrower-based macroprudential measures.
ECBPaper
New least-squares filter enhances sequence-space model econometrics
A new ECB Working Paper introduces a least-squares filter for efficiently extracting unobserved shocks in linear sequence-space models.
ECBPaper
Regional data reveal flatter Phillips curve, highlight expectations
A new European Central Bank study using regional data from 11 euro area countries finds that the Phillips curve is flatter and largely shaped by inflation expectations.