Monetary policy

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

In order to achieve this objective, the Eurosystem manages monetary policy. It aims to control interest rates and the money supply through a series of instruments and procedures that comprise its operational framework.

In this section you can find out how monetary policy affects the economy, what instruments and procedures are used to achieve its ends, who the counterparties are and the role played by collateral in central bank transactions, among other aspects.