European Central Bank

Summary: The European Central Bank is the central bank for Europe’s single currency, the euro. Its main task is to maintain the euro’s purchasing power and thus provide financial stability in the eurozone. There are 17 member states of the euro area.  The ECB’s headquarters are in Frankfurt-am-Main and its President is the former president of the Banque de France, Jean-Claude Trichet.

The ECB was created by the Treaty of Amsterdam in 1998. Its job is to manage the monetary policy of the 17 member states who are part of the euro zone. The day to day running of the Bank is handled by the Executive Board that is responsible to the Governing Council comprising the president of the central bank of all euro zone member states.

Its primary objective is maintain price stability by keeping inflation low at or below two per cent.

For more information visit www.ecb.int