The ECB Podcast

What was it like when the euro was launched in 1999? Where will the euro be in another 20 years? Is there a link between support for the euro and trust in the ECB? Our host Michael Steen discusses these questions with expert guests Erkki Liikanen, Martin Wolf and Siria Angino. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 28 November 2019 and recorded on 5 September, 23 October and 25 October 2019. Further reading Webpage: The euro at 20 https://www.ecb.europa.eu/euro/html/index.en.html Quiz: The euro at 20 https://www.ecb.europa.eu/euro/html/quiz.en.html Explainer: How do you benefit from the euro https://www.ecb.europa.eu/explainers/tell-me/html/benefits-euro-euroat20.en.html Explainer: How does the euro help Europeans do business? https://www.youtube.com/watch?v=WsxPlyzmkqU&feature=youtu.be Explainer: How have Europeans benefited from the euro? https://www.youtube.com/watch?v=HeXDwUsz57o&feature=youtu.be Speech: 20th anniversary of the euro https://www.ecb.europa.eu/press/key/date/2019/html/ecb.sp190115.en.html Speech: Past and future of the ECB monetary policy https://www.ecb.europa.eu/press/key/date/2018/html/ecb.sp180504.en.html Speech: The future of the euro area economy https://www.ecb.europa.eu/press/key/date/2019/html/ecb.sp191122~0c1f115db0.en.html Did you know?: More fact about the euro https://europa.eu/euroat20/the-euro-in-numbers/ Webpage: the banking union https://www.bankingsupervision.europa.eu/about/bankingunion/html/index.en.html Fourth ECB Annual Research Conference https://www.ecb.europa.eu/pub/conferences/html/20190905_4th_ecb_annual_research_conference.en.html Speeches on the capital markets union https://www.ecb.europa.eu/home/search/html/capital_markets_union.en.html European Central Bank website https://www.ecb.europa.eu/

What do porridge and prices have in common? How do music and video streaming affect inflation? And is low inflation the new normal? Our host Michael Steen discusses with guests Christiane Nickel, Frank Smets, and ECB Chief Economist Philip R. Lane. In this episode: (00:45) Keeping prices stable Why should prices go up, what is the link between wages and prices, and how does working towards our inflation target help to stabilise the economy? (12:07) The new normal How are changes in price measured, what factors drive inflation, and how do globalisation, demographics and e-commerce affect inflation? (23:20) Forecasting inflation Why do central banks need to provide accurate forecasts, how are these forecasts produced, and why can this process be challenging? The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 31 October 2019 and recorded on 10 and 14 October 2019. Further reading Explainer: Why are stable prices important? https://www.ecb.europa.eu/explainers/tell-me-more/html/stableprices.en.html Conference: Inflation in a changing economic environment https://www.ecb.europa.eu/pub/conferences/html/20190923_inflation_conference.en.html Speech: Monetary policy and below-target inflation https://www.ecb.europa.eu/press/key/date/2019/html/ecb.sp190701~0c1fa3c8fc.en.html Research: Low inflation in the euro area: causes and consequences https://www.ecb.europa.eu/pub/pdf/scpops/ecbop181.en.pdf Research: Expert group studying the causes of low inflation (LIFT) https://www.ecb.europa.eu/pub/economic-research/research-networks/html/researcher_lift.en.html Research: The impact of global value chains on the euro area economy https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op221~38185e6936.en.pdf Publication: Macroeconomic projections https://www.ecb.europa.eu/pub/projections/html/index.en.html European Central Bank website https://www.ecb.europa.eu/

The implications of crypto-assets, emerging payment technologies and Facebook’s plans to create a global digital currency, Libra – discussed by our host, Michael Steen, and guests, Dirk Bullmann, Maria Teresa Chimienti, and ECB Executive Board member Benoît Cœuré. Recorded on 6 and 9 September 2019. In this episode: (01:03) Benoît Cœuré The big picture: what is money, why is there a demand for digital currencies and what is the role of central banks in this field? (11:47) Maria Teresa Chimienti Getting technical: what are crypto-assets, what makes Facebook’s Libra different, and why is it important for central banks to research these phenomena? (17:32) Dirk Bullmann Talking innovation: what is blockchain and DLT, why are they so fascinating and how does innovation at the ECB help make payments instant? Further reading: Explainer: What is money? https://www.ecb.europa.eu/explainers/tell-me-more/html/what_is_money.en.html Explainer: What is bitcoin? https://www.ecb.europa.eu/explainers/tell-me/html/what-is-bitcoin.en.html Explainer: How could new technology transform financial markets? https://www.ecb.europa.eu/explainers/tell-me-more/html/distributed_ledger_technology.en.html Research – special feature: Distributed Ledger Technology (e.g. blockchain) https://www.ecb.europa.eu/pub/annual/special-features/2016/html/index.en.html Research – Occasional Paper: Crypto-Assets: Implications for financial stability, monetary policy, and payments and market infrastructures https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op223~3ce14e986c.en.pdf Research – Economic Bulletin Article: Understanding the crypto-asset phenomenon, its risks and measurement issues https://www.ecb.europa.eu/pub/economic-bulletin/articles/2019/html/ecb.ebart201905_03~c83aeaa44c.en.html European Central Bank website https://www.ecb.europa.eu/ The views expressed are those of the speakers and not necessarily those of the European Central Bank.