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18 March 2020 PRESS RELEASE

ECB announces €750bn pandemic purchase programme

The Governing Council decided to launch a new temporary pandemic emergency purchase programme (PEPP) to counter the serious risks posed by the coronavirus. We will do everything necessary within our mandate to support all citizens of the euro area through this extremely challenging time.

21 March 2020 INTERVIEW

ECB stands ready to do more if needed

Our pandemic emergency purchase programme sends the strong message that monetary policy will help to mitigate what could become one of the most severe economic downturns, says Board member Isabel Schnabel. The ECB has a large toolkit at its disposal and stands ready to do more if needed.

12/03/2020
Christine Lagarde, Luis de Guindos: Introductory statement to the press conference (with Q&A)
Christine Lagarde, President of the ECB, Luis de Guindos, Vice-President of the ECB, Frankfurt am Main, 12 March 2020
02/03/2020
Luis de Guindos: Remarks at the European Economics and Financial Centre
Remarks by Luis de Guindos, Vice-President of the ECB, at the European Economics and Financial Centre
27/02/2020
Philip R. Lane: Monetary policy, low interest rates and low inflation
Dinner remarks by Philip R. Lane, Member of the Executive Board of the ECB, at the Centre for European Reform
27/02/2020
Isabel Schnabel: How long is the medium term? Monetary policy in a low inflation environment
Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Barclays International Monetary Policy Forum
27/02/2020
Christine Lagarde: Climate change and the financial sector
Speech by Christine Lagarde, President of the ECB, at the launch of the COP 26 Private Finance Agenda

All speeches

21/03/2020
Isabel Schnabel: Interview with Frankfurter Allgemeine Sonntagszeitung
Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Patrick Bernau and Dennis Kremer
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20/03/2020
Luis de Guindos: Interview with Telediario 2, Televisión Espa?ola
Interview with Luis de Guindos, Vice-President of the ECB, conducted by Carlos Franganillo on 19 March 2020
English
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19/03/2020
Fabio Panetta: Interview with TG1
Interview with Fabio Panetta, Member of the Executive Board of the ECB, conducted by Gennaro Pellino on 19 March 2020
English
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18/03/2020
Luis de Guindos: Interview with Radio Nacional
Interview with Luis de Guindos, Vice-President of the ECB, conducted by I?igo Alfonso on 18 March 2020
English
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18/03/2020
Isabel Schnabel: Interview with Die Zeit
Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Lisa Nienhaus on 16 March 2020 and published on 18 March 2020
English
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All interviews

19/03/2020
Opinion on the oversight of payment systems and payment system operators (CON/2020/9)
Cyprus, 
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18/03/2020
Opinion on Hrvatska narodna banka (CON/2020/8)
Croatia, 
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17/03/2020
Decision (EU) 2020/407 of the ECB of 16 March 2020 amending Decision (EU) 2019/1311 on a third series of targeted longer-term refinancing operations (ECB/2020/13)
09/03/2020
Decision (EU) 2020/380 of the ECB of 18 February 2020 amending Decision (EU) 2016/245 laying down the rules on procurement (ECB/2020/10)
06/03/2020
Guideline (EU) 2020/381 of the ECB of 21 February 2020 amending Guideline (EU) 2017/2335 on the procedures for the collection of granular credit and credit risk data  (ECB/2020/11)

All legal acts

20 March 2020 PRESS RELEASE

Global action on US dollar swap lines

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank have together agreed to increase the frequency of 7-day maturity operations from weekly to daily. The central banks will also continue to offer weekly 84-day maturity operations.

THE ECB BLOG

The Monetary Policy Package: An Analytical Framework

We will not tolerate any risks to the smooth transmission of our monetary policy in all jurisdictions of the euro area, Executive Board member Philip R. Lane writes in the inaugural post of The ECB Blog. The post explains the analytical framework underlying the March monetary policy measures.

Interest rates

Marginal lending facility 0.25 %
Main refinancing operations (fixed rate) 0.00 %
Deposit facility − 0.50 %
Effective from 18 September 2019

Inflation rates

Full inflation chart
Inflation dashboard

Reference rates

USD US dollar 1.0783
JPY Japanese yen 119.11
GBP Pound sterling 0.92970
CHF Swiss franc 1.0590
Last update: Monday, 23 March 2020 Euro foreign exchange rates

Multimedia

  • ECB Governing Council Press Conference - 12 March 2020

    ECB Governing Council Press Conference - 12 March 2020

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    Christine Lagarde, President of the ECB, signing the euro banknotes, 28 November 2019

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    The ECB explains: crypto-assets

  • ECB Forum on Central Banking 2019

    ECB Forum on Central Banking 2019

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    Download the ECB Art App

  • Travelogue: ECB Executive Board member Beno?t C?uré visiting Vorwerk factory in Cloyes-sur-le-Loir

    Travelogue: ECB Executive Board member Beno?t C?uré visiting Vorwerk factory in Cloyes-sur-le-Loir

  • Euro Banknotes – Our Money, Our Journey

    Euro Banknotes – Our Money, Our Journey

  • Unveiling of the New 100 and 200 Euro Banknotes

    Unveiling of the New 100 and 200 Euro Banknotes

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    20 years of ESCB statistics: What's next?

  • ECB Interview with Cornelia Holthausen

    ECB Interview with Cornelia Holthausen

  • ECB Press Conference – 12 March 2020

  • New signature for euro banknotes - 28 November 2019

  • Christine Lagarde's Keynote Speech - European Banking Congress 2019

  • Farewell President Draghi - 28 October 2019

  • ECB Conference on Gender and Career Progression - 21 October 2019

  • European Cultural Days of the ECB: Museumssalon - October 23 2019

  • ECB Press Conference - 24 October 2019

  • European Cultural Days of the ECB: Museumssalon - October 23 2019

  • European Cultural Days -10 October 2019

  • Sendung mit der Maus Tag der offenen Tür - 3 October 2019

  • The international role of the euro, June 2018 - cover image

    The international role of the euro, June 2018

  • Financial integration in Europe, May 2018 - cover image

    Financial integration in Europe, May 2018

  • Price and wage-setting in advanced economies - cover image

    Price and wage-setting in advanced economies

  • ESCB Legal Conference 2018 - cover image

    ESCB Legal Conference 2018

  • Legal framework of the Eurosystem and the European System of Central Banks. ECB legal acts and instruments - cover image

    Legal framework of the Eurosystem and the European System of Central Banks. ECB legal acts and instruments

  • Statistics for Economic and Monetary Union. Enhancements and new directions, 2003-12, by Peter Bull - cover image

    Statistics for Economic and Monetary Union. Enhancements and new directions, 2003-12, by Peter Bull

  • The monetary policy of the ECB - cover image

    The monetary policy of the ECB

  • The payment system – payments, securities and derivatives, and the role of the Eurosystem in this field - cover image

    The payment system – payments, securities and derivatives, and the role of the Eurosystem in this field

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