European Central Bank, Economy, finance, tax and competition
The Governing Council of the European Central Bank (ECB) takes its monetary policy decision for the euro area. Shortly after the meeting, the President of the ECB explains the decision in an introductory statement. This is followed by a question-and-answer session with media representatives. A few hours later the transcript of the press conference is published on the ECB website.
As announced on 8 November 2001, the monetary policy stance of the ECB will continue to be assessed by the Governing Council, as a rule, only at the first meeting of the month. Accordingly, decisions on the key ECB interest rates will normally be taken during that meeting. Whenever it holds a second meeting in the month, the Governing Council will deal with issues related to other tasks and responsibilities of the ECB and the Eurosystem.
Obviously, if warranted by the circumstances, the Governing Council can assess its monetary policy stance and decide to change the key ECB interest rates at any time, regardless of previously scheduled meetings. The meeting schedule of the Governing Council also takes into account the fact that reserve maintenance periods will start on the settlement day of the main refinancing operation following the Governing Council meeting at which the monthly assessment of the monetary policy stance is scheduled to take place.
The press conference starts at 14.30.