
The ECB Podcast
The European Central Bank Podcast – bringing you insights into the world of economics and central banking.
Our hosts Paul Gordon and Stefania Secola talk to experts about the topics and trends that matter to the eurozone economy today.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Latest episodes

14 snips
Apr 17, 2025 • 15min
President Lagarde presents the latest monetary policy decisions – 17 April 2025
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
Our monetary policy statement at a glance, 17 April 2025 https://www.ecb.europa.eu/press/press_conference/visual-mps/2025/html/mopo_statement_explained_april.en.html
Christine Lagarde, Luis de Guindos: Monetary policy statement, 17 April 2025 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2025/html/ecb.is250417~091c625eb6.en.html
Monetary policy decisions, 17 April 2025 https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.mp250417~42727d0735.en.html
Combined monetary policy decisions and statement, 17 April 2025 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/shared/pdf/ecb.ds250417~e613e58d41.en.pdf?95a8c391ee55936072302d86e709bf0e
European Central Bank
https://www.ecb.europa.eu/home/html/index.en.html
You can also listen on all major podcast platforms.
Published and recorded during our press conference on 17 April 2025
#MonetaryPolicy #EuropeanCentralBank #ChristineLagarde #Finance #FinancialConditions #Inflation #EconomicActivity #EconomicOutlook #PressConference #Banking #CentralBanking #Podcast #Economics #EU #Europe #ECB

7 snips
Apr 9, 2025 • 24min
AI: economic game changer or job taker?
António Dias da Silva, an ECB expert on AI adoption, and Miles Parker, an economist focused on AI and energy consumption, dive into the transformative impact of AI on the economy. They discuss whether AI will replace jobs or create new opportunities, emphasizing the necessity of reskilling. The duo explores demographic differences in AI adoption and how policy can facilitate corporate integration. They also tackle the increasing energy consumption of AI technologies, comparing their demands to traditional activities, and ponder the balance between digital innovation and sustainability.

Mar 12, 2025 • 27min
Mind the gap: gender and financial literacy
We need financial literacy to make good financial decisions. But did you know that half of Europeans have low financial literacy levels, and that 60% of them are women?
Our host Stefania Secola talks to Annamaria Lusardi from Stanford University about what financial literacy is, why it matters and how we can improve it, especially among women.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Published on 13 March 2025 and recorded on 7 March 2025.
In this episode:
00:01 Commitments made by central banks
How did central bank Governors commit to improving financial literacy in their respective countries? What are the desired outcomes?
00:27 Looking at the numbers
How financially literate are Europeans? How big is the gap between men and women? And what can we do about it?
01:55 Financial literacy defined
What is financial literacy? How does it relate to financial independence?
03:58 Measuring financial literacy
There are three simple questions, known as the “Big Three”, that experts use to measure financial literacy. Can you, our listener, answer them?
05:59 Why central banks care about financial literacy
Why does financial literacy matter for central banks? How does it relate to the effectiveness of monetary policy and trust in what a central bank does? And how does it affect banking supervision?
10:53 Financial knowledge in Europe
Why is financial literacy in Europe so low? What can we do to increase the overall level of financial literacy among Europeans?
12:30 When to start addressing financial literacy
When is the best time to improve people’s financial literacy? Is it limited to schools or are there also other teachable moments?
15:50 The gender gap in financial literacy
Why is there this gender gap and why is it a problem? What can we do to make sure that half the population isn’t left behind?
20:14 The role of fintech
Does fintech complement financial literacy? What risks do gender differences in digital literacy pose when it comes to using fintech?
22:26 The road ahead
Central banks made five commitments to improve financial literacy. What are these commitments?
24:50 Financial literacy question: answer revealed
We answer the first “Big Three” question. Listen and see whether you chose the correct answer!
25:45 Our guest’s hot tip
Annamaria shares her hot tip with our listeners.
Further reading:
Annamaria Lusardi’s research
https://www.annamarialusardi.com/research/
ECB International Women’s Day Event 2025
https://www.ecb.europa.eu/press/conferences/html/20250307_intl_womens_day.en.html
The ECB Blog: The gender gap at work is closing – but slowly
https://www.ecb.europa.eu/press/blog/date/2025/html/ecb.blog20250307~85fd774bd3.en.html
The “Big Three” and “Big Five”
https://gflec.org/education/questions-that-indicate-financial-literacy/
Chart: Gender gap in financial literacy is pervasive, incl. the young, well educated and high income
https://www.youtube.com/watch?v=ZvVzgcXCFBw&t=222s
ECB Instagram
https://www.instagram.com/europeancentralbank/
European Central Bank
www.ecb.europa.eu
ECB Banking Supervision
https://www.bankingsupervision.europa.eu/home/html/index.en.html

Mar 4, 2025 • 16min
President Lagarde presents the latest monetary policy decisions – 6 March 2025
Christine Lagarde, President of the European Central Bank and a key figure in global monetary policy, discusses crucial updates on the ECB's recent decisions. She highlights the strategy to curb inflation and achieve the 2% target. The conversation dives into the current economic performance and the anticipated developments in prices. Lagarde also addresses the risks facing the economic outlook and shares insights into maintaining stability in the euro area amidst high inflation and challenging lending conditions.

Feb 24, 2025 • 30min
You ask, we answer: careers, inflation and cooperation
Your questions answered: whether it’s about careers at the ECB, how our work affects people and businesses, or how we plan to tackle global challenges, we tackle listeners’ questions in this #AskECB episode of The ECB Podcast.
Join our host Stefania Secola as she talks to colleagues Eglantine Devaux and Gabriel Glöckler.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Published on 25 February 2025 and recorded on 20 February 2025.
In this episode:
00:36 Your questions answered
You, our listeners, sent us your burning questions on social media. What did you want to know? And who do we have onboard to answer your questions?
01:54 Working at the European Central Bank
What does it take to join the team? How do we nurture and grow talent? And what are the advantages of working in such a diverse environment?
08:34 Small businesses and consumers
How do our monetary policy decisions affect small businesses and consumers? How does this relate to our mission? We tackle these questions by looking at the example of a garden centre.
08:54 Stable, predictable changes in prices
How do we keep prices stable? What tools do we have available? And how does our price stability objective help motivate us?
14:47 Facing global economic challenges
What challenges lie ahead? How can we respond to uncertainty, geopolitical tensions and a changing climate?
16:19 The challenge posed by tariffs
How will tariffs impact our economies, and what about inflation?
18:27 Europe’s potential
What opportunities can we harness as Europeans? And what could they mean for our economy?
22:43 Communication among central banks worldwide
How do we work together? Are there particular structures in place? And what topics do we discuss?
27:49 Our guests’ hot tips
Eglantine and Gabriel share their hot tips with our listeners.
Further readings:
ECB vacancies
https://talent.ecb.europa.eu/careers
Graduate programme
https://www.ecb.europa.eu/careers/what-we-offer/graduate/html/index.en.html
Traineeship
https://www.ecb.europa.eu/careers/what-we-offer/traineeship/html/index.en.html
What we offer
https://www.ecb.europa.eu/careers/what-we-offer/benefits/html/index.en.html
IMF - Ask an Economist https://m.youtube.com/playlist?list=PLmYAE4wV1YQzDbnDZlNJoqMhIDUQpEPTZ
IMF - Back to Basics https://m.youtube.com/playlist?list=PLmYAE4wV1YQyRb6H1_XJWY73HJVdR6oBX
IMF- Analyze This! https://m.youtube.com/playlist?list=PLmYAE4wV1YQz_LzOLaKTpDWyH93SNuF7x
IMF - Charts in Motion https://m.youtube.com/playlist?list=PLmYAE4wV1YQz6xXWx5eB7uT9zE-4KcmAZ
ECB - Espresso Economics
https://www.youtube.com/@Espresso_Economics
ECB Instagram
https://www.instagram.com/europeancentralbank/
European Central Bank
www.ecb.europa.eu
ECB Banking Supervision
https://www.bankingsupervision.europa.eu/home/html/index.en.html

Jan 29, 2025 • 14min
President Lagarde presents the latest monetary policy decisions – 30 January 2025
Christine Lagarde, President of the European Central Bank, discusses key monetary policy updates. She highlights the decision to lower interest rates to combat rising inflation while aiming for a 2% target. Lagarde explores the euro area's economic stagnation, consumer confidence, and labor market conditions. She emphasizes the importance of flexibility in monetary strategies to ensure effective policy communication and transmission. Tune in for insights into the economic outlook and the challenges ahead!

Jan 16, 2025 • 20min
Nice talking to you: highlights from 100 episodes
We’ve reached 100 episodes of The ECB Podcast! Our hosts Stefania Secola and Paul Gordon reflect on their favourite episodes and welcome two special guests to the show.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Published on 16 January 2025 and recorded on 10 January 2025.
In this episode:
00:54 100th episode
What topics have we covered? Which guests have joined us? And how can you – our listeners – help shape the podcast’s future?
03:18 What can podcasts do for central bank communications?
Why did we start a podcast? And how does it enable us to better explain our work to keep prices stable and banks safe?
06:09 What does Taylor Swift have to do with it?
Stefania reflects on our AskECB episode, where we answered YOUR questions. The next edition is coming up – find out how you can submit your questions!
07:50 A memorable episode
Paul reflects on the episode “War, geopolitics and the economy”. How can we apply the lessons learnt amid the rising geopolitical risks we’re observing?
09:56 Our most played episode
Which episode features three global leaders? What did they say about female empowerment and the importance of diversity? And how much progress has been made on this topic?
11:38 A special surprise guest
12:56 Spotlight on past guests
We’ve interviewed Presidents, Board members and experts. But who has been our most frequent guest? And what topics have they covered?
15:57 A special surprise guest
17:06 Our hosts’ hot tips
Paul and Stefania share their hot tips with our listeners.
Further reading:
“Swiftflation”, banknotes and the digital euro
https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod241005_episode94.en.html
War, geopolitics and the economy
https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod240705_episode88.en.html
What interest rate hikes mean for you, the economy and inflation
https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220723_episode38.en.html
A conversation about female empowerment, the need for an inclusive recovery and transatlantic cooperation
https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod210715_episode18.en.html
A digital euro: what, why, when? (part 1)
https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221015_episode41.en.html
A digital euro: what, why, when? (part 2)
https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221019_episode42.en.html
The ECB Podcast Summer School #1: a deep dive into inflation
https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230804_episode66.en.html
The ECB Podcast Summer School #2: the nuts and bolts of interest rates
https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230811_episode67.en.html
The ECB Podcast Summer School #3: the role of banks in fighting inflation
https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230818_episode68.en.html
The ECB Podcast Summer School #1: what do European banking supervision and football have in common?
https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod240808_episode91.en.html
The ECB Podcast Summer School #2: a day in the life of a banking supervisor
https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod240817_episode92.en.html
ECB Instagram
https://www.instagram.com/europeancentralbank/
Espresso Economics
https://www.youtube.com/@Espresso_Economics
BBC Radio 4 – Thing Fell Apart
https://open.spotify.com/show/5cQxyxeC057nGcx7epp4ed
European Central Bank
www.ecb.europa.eu

Dec 19, 2024 • 18min
Tariffs, tensions and tackling inflation: the road ahead
What impact do global events have on our economy? And how has the ECB’s monetary policy shifted?
As 2024 comes to an end, our host Paul Gordon discusses these questions and more with Chief Economist Philip R. Lane.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Published on 20 December 2024 and recorded on 13 December 2024.
In this episode:
01:43: Geopolitics and monetary policy
How has geopolitics influenced the ECB’s work in 2024?
05:59: Reaching our 2% medium-term inflation target
From holding rates to cutting rates: have we tamed inflation yet?
09:40: Unemployment at record lows
What is the overall state of the economy? And what do the ECB’s latest projections tell us?
13:35 Europe’s competitiveness problem and the Draghi and Letta reports
What does Europe need to do to become more competitive? What do these reports recommend?
15:40: Philip Lane’s hot tip
ECB’s Chief Economist shares his hot tip with our listeners.
Further reading:
Monetary Policy Decisions – 12 December 2024
https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp241212~2acab6e51e.en.html
Much More Than a Market: Speed, Security, Solidarity – Empowering the Single Market to deliver a sustainable future and prosperity for all EU Citizens by Enrico Letta
https://www.consilium.europa.eu/media/ny3j24sm/much-more-than-a-market-report-by-enrico-letta.pdf
The future of European competitiveness: Report by Mario Draghi
https://commission.europa.eu/topics/strengthening-european-competitiveness/eu-competitiveness-looking-ahead_en
The Central Bank as Crisis Manager by Patrick Honohan
https://www.piie.com/bookstore/2024/central-bank-crisis-manager
Monetary policy under uncertainty
https://www.ecb.europa.eu/press/key/date/2024/html/ecb.sp241125~df4c5a69c7.en.html
Navigating a fragmenting global trading system: insights for central banks
https://www.ecb.europa.eu/press/key/date/2024/html/ecb.sp241121_2~a4cbddd0f2.en.pdf
European Central Bank
www.ecb.europa.eu

Dec 11, 2024 • 16min
President Lagarde presents the latest monetary policy decisions – 12 December 2024
Christine Lagarde, President of the European Central Bank and a former Managing Director of the IMF, discusses crucial monetary policy decisions aimed at achieving a 2% inflation target. She dives into the current economic performance, inflation expectations, and potential risks like geopolitical tensions. Lagarde also highlights a notable 1.3% annual increase in bank lending, emphasizing the importance of financial stability and the Governing Council’s strategies for navigating global trade dynamics.

Nov 25, 2024 • 22min
Navigating financial stability in uncertain times
How worried should Europe be about financial stability at a time of geopolitical and policy uncertainty and rising global trade tensions?
As we mark the 20th anniversary of our Financial Stability Review, our host Paul Gordon discusses the risks with expert John Fell in the latest episode of The ECB Podcast.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Published on 25 November 2024 and recorded on 18 November 2024.
In this episode:
01:08: How worried about financial stability should we be in Europe?
03:37: The risk profile shift from inflation to growth: can it expose us to other kinds of risk?
06:50: Europe’s growth and productivity concerns: what role does finance play?
11:19: What are the risk findings related to the rise of passive investing in equity markets?
16:23: Twenty years of the ECB’s Financial Stability Review – how effective has it been?
19:47: Guest’s hot tip
Financial stability expert John Fell shares his hot tip with our listeners.
Further reading:
Financial Stability Review, November 2024
https://www.ecb.europa.eu/press/financial-stability-publications/fsr/html/index.en.html
The future of European competitiveness: Report by Mario Draghi
https://commission.europa.eu/topics/strengthening-european-competitiveness/eu-competitiveness-looking-ahead_en
Ray Dalio’s “Principles for Dealing with the Changing World Order”
https://www.amazon.de/-/en/Principles-Dealing-Changing-World-Order/dp/1982160276
European Central Bank
www.ecb.europa.eu
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