Monetary policy

Monetary policy index of Contents

The primary objective of the Eurosystem is to maintain price stability.

To achieve this objective, the European Central Bank (ECB) manages monetary policy, through which it aims to influence the cost and availability of money in the economy.

This section includes information on how monetary policy works in the economy, which instruments and procedures are used to achieve its goals, who the counterparties are and the role played by collateral in central bank operations.

KEY ECB INTEREST RATES

  1. MAIN REFINANCING OPERATIONS:
    1,25%

    Last monetary policy decision: 08/09/2022

  2. MARGINAL LENDING FACILITY:
    1,50 %

    Last monetary policy decision: 08/09/2022

  3. DEPOSIT FACILITY:
    0,75%

    Last monetary policy decision: 08/09/2022

  4. INFLATION TARGET:
    2%

    ECB TARGET OVER THE MEDIUM TERM

  5. EURO AREA INFLATION:
    9,1 %

    Latest data: August 2022

Contribution to monetary policy analysis

Frequently asked questions about monetary policy