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European Central Bank |
Also found in: Dictionary/thesaurus, Acronyms, Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
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European Central Bank (ECB) Bank created to monitor the monetary policy of the countries that have converted to the Euro from their local currencies. The original 11 countries are: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. European Central Bank The central bank for the eurozone. It was established in 1998 prior to the introduction of the euro in 1999. It issues the euro and sets monetary policy, especially by setting key interest rates. Raising interest rates is how the ECB reduces the amount of money in the economy, which slows unsustainable growth and curbs inflation. Lowering interest rates increases the amount of money in the economy and is used to spur growth. The ECB is independent of all other government bodies of the European Union and its member states. It is governed by an Executive Board and Governing Council. The Governing Council is the highest body; it consists of members of the Executive Board and heads of the central banks of the states participating in the eurozone. European Central Bank (ECB). The European Central Bank is the central bank of the European Monetary Union (EMU), whose member countries use the euro as their currency. The ECB, which is based in Frankfurt, Germany, issues currency, sets interest rates, and oversees other aspects of monetary policy for the EMU. The EMU's National Central Banks (such as the Banque de France and the Deutsche Bundesbank), together with the ECB, form the European System of Central Banks. They play an important role in implementing monetary policy, conducting foreign exchange operations, and maintaining the foreign reserves of member states. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Following European Central Bank (ECB) policy closely these days is no easy task. The data is seen as boosting the case for an interest rate increase by the European Central Bank next month. While the Fed is likely nearing the end of its tightening cycle, there are hints the European Central Bank will begin to raise rates and China hiked rates last week. |
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