The ECB Podcast European Central Bank

Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% goal in a timely manner.

Listen to President Christine Lagarde present today’s decisions. The statement also covers:
- how the economy is performing
- how we expect prices to develop
- the risks to the economic outlook
- the dynamics behind financial and monetary conditions

Published and recorded during our press conference on 11 April 2024

Additional material

Our monetary policy statement at a glance, 11 April 2024 https://www.ecb.europa.eu/press/press_conference/visual-mps/2024/html/mopo_statement_explained_april.en.html

Christine Lagarde, Luis de Guindos: Monetary policy statement, 11 April 2024 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2024/html/ecb.is240411~9974984b58.en.html

Monetary policy decisions, 11 April 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240411~1345644915.en.html

Combined monetary policy decisions and statement, 11 April 2024 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/shared/pdf/ecb.ds240411~58dd9ec73d.en.pdf?566c397f0364d717913bf7770e67bf17

European Central Bank
https://www.ecb.europa.eu/home/html/index.en.html


You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

We have made good progress in our fight against inflation since we started to tighten our monetary policy in 2022. Where do we stand right now? And what are we keeping a close eye on in the economy?

Host Stefania Secola discusses these topics with our Chief Economist Philip R. Lane. They also talk about the ECB’s recent changes to its operational framework for implementing monetary policy.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Published on 25 March 2024 and recorded on 21 March 2024.

In this episode:
01:23 – Inflation right now
How has inflation evolved since its peak in late 2022? What is the outlook for the year ahead and what will shape our future decisions?

03:30 – Wages and inflation
How are rising wages affecting inflation, and is the situation the same across all euro area countries?

09:54 – The state of the labour market
Unemployment is historically low, but economic growth is projected to be lower than in previous years. What might the coming months hold for the labour market?

13:54 – The ECB’s operational framework
Why have we reviewed our operational framework for implementing monetary policy? How does it help our work to keep prices stable?

19:02 – Our guest’s hot tip
Our guest, Philip R. Lane, encourages our listeners to read a paper that looks at the macroeconometric models used at the ECB for forecasting and policy analysis.

Further Reading:
The ECB Podcast: Are wages and greedflation really pushing up prices? June 2023
https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230623_episode62.en.html

Occasional Paper 344: ECB macroeconometric models for forecasting and policy analysis
https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op344~53b9e2aa4d.en.pdf?14821c7f99280514dbdaa26114c4f565

Press release: ECB announces changes to the operational framework for implementing monetary policy
https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.pr240313_1~a3a50a9add.en.html

Economic Bulletin Issue 2/2024, Article 1: The impact of recent shocks and ongoing structural changes on euro area productivity growth
https://www.ecb.europa.eu/pub/economic-bulletin/articles/2024/html/ecb.ebart202402_01~d63ecff49c.en.html

Press release: Monetary policy decisions (7 March 2024)
https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240307~a5fa52b82b.en.html

European Central Bank
www.ecb.europa.eu

Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% target in a timely manner.
Listen to President Christine Lagarde present today’s decisions. The statement also covers:

- how the economy is performing
- how we expect prices to develop
- the risks to the economic outlook
- the dynamics behind financial and monetary conditions

Recorded and published on 7 March 2024

Our monetary policy statement at a glance, 7 March 2024 https://www.ecb.europa.eu/press/pressconf/visual-mps/2024/html/mopo_statement_explained_march.en.html
Christine Lagarde, Luis de Guindos: Monetary policy statement, 7 March 2024 https://www.ecb.europa.eu/press/pressconf/2024/html/ecb.is240307~314650bd5c.en.html
Monetary policy decisions, 7 March 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240307~a5fa52b82b.en.html
Combined monetary policy decisions and statement, 7 March 2024 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds240307~8e06c79bf2.en.pdf?e86e578f1a99fdaa095a37dc4f1f6355

European Central Bank
https://www.ecb.europa.eu/home/html/index.en.html
You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

Did you know that euro banknotes are getting a makeover? As the euro turns 25, let’s look at the road ahead for our banknotes. What will future euro banknotes look like, why do we need them, and when can we start using them?

Join our host Stefania Secola and Sarai Artiles, who works on banknote communications, to find out more.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Published on 10 February 2024 and recorded on 1 February 2024.

In this episode:

00:05 – The euro is turning 25
The euro unites us – it is used by 350 million people in 20 countries! Euro banknotes are a physical reminder of our shared identity.

01:56 – Why are we redesigning euro banknotes?
Security, environmental aspects and relatability: these are just some of the reasons we are designing a new series of euro banknotes.

05:28 – Many cultures, one euro
Euro banknotes are used by people with different backgrounds, cultures, and languages. How can future banknotes represent them all?

08:50 – What will they look like?
“European culture” and “Rivers and birds” have been selected as the themes for future euro banknotes. Does this mean we already know what they’ll look like?

10:20 – When can we start using them?
We have the themes, but what’s next in the banknote redesign process? When can we expect to start using these new banknotes?

12:30 – Our guest’s hot tip

Additional material:

Press release: ECB selects “European culture” and “Rivers and birds” as possible themes for future euro banknotes
https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr231130~cad7fa27ab.en.html

Press release: ECB surveys Europeans on new themes for euro banknotes
https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr230710~77cf718c59.en.html

Podcast: All you need to know about euro banknotes
https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220205_episode27.en.html

Webpage: FAQ on the redesign of euro banknotes
https://www.ecb.europa.eu/euro/banknotes/future_banknotes/html/ecb.faq_banknotes_redesign.en.html

Webpage: The redesign process
https://www.ecb.europa.eu/euro/banknotes/future_banknotes/redesign/html/index.en.html

European Central Bank
http://www.ecb.europa.eu/

What lies ahead on our path to a greener future? How can we assess the impact of extreme weather on the economy? And how can we tackle financial risks from nature loss and degradation? With its new climate and nature plan, the ECB is stepping up its work in these areas over the next two years.

Our host Stefania Secola discusses this and more with the head of the ECB’s climate change centre, Irene Heemskerk.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Published on 31 January 2024 and recorded on 23 January 2024.

In this episode:

01:00 – The ECB’s work on climate
What has the ECB done so far to help tackle climate change, what does it plan to focus on going forward and why is this work important?

04:35 – The intensifying climate crisis
As global temperatures rise and extreme climate events become more frequent and more devastating, what is the impact on the economy and the financial system? What can the ECB do about it?

07:40– Keeping the green transition on course
Time is running out to contain global warming and meet the Paris Agreement targets. Governments are in the driving seat but we’re all heading in the same direction. How can economic analysis contribute to these efforts, and how can we unlock the funds needed to keep the green transition moving forward?

13:15 – Defining a role for monetary policy
The ECB has already tilted its corporate bond holdings towards issuers with better climate performance. What else can it do, within its mandate, to support the green transition? What role can interest rates play?

15:00 – From climate change to environmental crises: nature and biodiversity loss
Euro area firms and banks are highly dependent on nature, but nature is being rapidly devastated by human activity. What are the economic and financial risks stemming from nature degradation?

17:22 - Our guest’s hot tip
ECB climate change centre head Irene Heemskerk shares her hot tip with our listeners.

Additional material:

Press release: ECB steps up climate work with focus on green transition, climate and nature-related risks, 30 January 2024
https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.pr240130~afa3d90e07.en.html

The ECB’s climate and nature plan 2024-25
https://www.ecb.europa.eu/ecb/climate/our-climate-and-nature-plan/html/index.en.html

Climate change and the ECB https://www.ecb.europa.eu/ecb/climate/html/index.en.html

The ECB’s publications on climate change https://www.ecb.europa.eu/home/search/html/climate_change.en.html

The ECB Podcast: What biodiversity and nature loss mean for our economy, 25 November 2023
https://www.youtube.com/watch?v=DP3tRzELPLY

European Central Bank

www.ecb.europa.eu

www.bankingsupervision.europa.eu

Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% goal in a timely manner.
Listen to President Christine Lagarde present today’s decisions. The statement also covers:
- how the economy is performing
- how we expect prices to develop
- the risks to the economic outlook
- the dynamics behind financial and monetary conditions
Published and recorded during our press conference on 25 January 2024.

Our monetary policy statement at a glance, 25 January 2024 https://www.ecb.europa.eu/press/pressconf/visual-mps/2024/html/mopo_statement_explained_january.en.html

Christine Lagarde, Luis de Guindos: Monetary policy statement, 25 January 2024 https://www.ecb.europa.eu/press/pressconf/2024/html/ecb.is240125~db0f145c32.en.html

Monetary policy decisions, 25 January 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240125~f738889bde.en.html

Combined monetary policy decisions and statement, 25 January 2024 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds240125~d65b43331a.en.pdf

European Central Bank
https://www.ecb.europa.eu/home/html/index.en.html

You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast