The ECB Podcast

Today our Governing Council decided on monetary policy, determining what’s needed to achieve stable prices in the euro area. 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 27 October 2022. Our monetary policy statement at a glance, 27 October 2022 https://www.ecb.europa.eu/press/pressconf/visual-mps/2022/html/mopo_statement_explained_october.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A), 27 October 2022 https://www.ecb.europa.eu/press/pressconf/2022/html/ecb.is221027~358a06a35f.en.html Monetary policy decisions, 27 October 2022 https://www.ecb.europa.eu/press/pr/date/2022/html/ecb.mp221027~df1d778b84.en.html Combined monetary policy decisions and statement, 27 October 2022 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds221027~f185daf915.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

Would people’s privacy be safe with a digital euro? What could a digital euro mean for Europe? And what’s next in the digital euro project? Our host Katie Ranger continues her conversation with expert Evelien Witlox. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 19 October 2022 and recorded on 7 October 2022. In this episode: 00:47 – Privacy and the use of data with a digital euro How we will take people’s privacy concerns into account when we start to design a digital euro. 03:20 – European monetary sovereignty Why it’s important to develop a European autonomy and sovereignty in payments and which other central banks are currently looking at developing a digital currency. 06:31 – Next steps in the digital euro project How the investigation phase is going and when we would potentially issue a digital euro. 09:51 – Our guest’s hot tip Our guest Evelien Witlox recommends a book about the world of payments: “The pay off – How changing the way we pay changes everything”, by Gottfried Leibbrandt and Natasha De Terán. Additional material: The ECB Podcast: A digital euro: what, why, when? (part 1), 15 October 2022 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221015_episode41.en.html A digital euro https://www.ecb.europa.eu/paym/digital_euro/html/index.en.html Explainer: The digital euro and the importance of central bank money https://www.ecb.europa.eu/ecb/educational/explainers/html/digital_euro_central_bank_money.en.html Explainer: What is money? https://www.ecb.europa.eu/ecb/educational/explainers/tell-me-more/html/what_is_money.en.html The ECB Podcast: Is it time for a digital euro?, 6 November 2020 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod201106_episode11.en.html 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

Do we need a digital euro, and why? What might it look like? And how would it differ from other means of payment? Our host Katie Ranger puts these questions to digital euro expert Evelien Witlox. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 15 October 2022 and recorded on 7 October 2022. In this episode: 1:11 – Commercial versus central bank money What a digital euro is, how paying with it might work and how it would differ from the money in people’s bank accounts. 5:52 – Why are we looking into a digital euro now? What made the ECB start exploring a digital euro in October 2021 and why we need one. 8:45 – What a digital euro might look like What benefits a digital euro would have as a means of payment and how people would pay with it. 13:35 – Keep an eye out for the next episode! There's still a lot to be said on this topic. In the next episode, we'll look at how your data would be handled with a digital euro and what it could mean, politically, for Europe. Additional material: A digital euro https://www.ecb.europa.eu/paym/digital_euro/html/index.en.html Explainer: the digital euro and the importance of central bank money https://www.ecb.europa.eu/ecb/educational/explainers/html/digital_euro_central_bank_money.en.html Explainer: what is money? https://www.ecb.europa.eu/ecb/educational/explainers/tell-me-more/html/what_is_money.en.html The ECB Podcast: is it time for a digital euro? https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod201106_episode11.en.html 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

Today our Governing Council decided on monetary policy, determining what’s needed to achieve stable prices in the euro area. 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 8 September 2022. Additional material: Our monetary policy statement at a glance, 8 September 2022 https://www.ecb.europa.eu/press/pressconf/visual-mps/2022/html/mopo_statement_explained_september.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A), 8 September 2022 https://www.ecb.europa.eu/press/pressconf/2022/html/ecb.is220908~cd8363c58e.en.html Monetary policy decisions, 8 September 2022 https://www.ecb.europa.eu/press/pr/date/2022/html/ecb.mp220908~c1b6839378.en.html Combined monetary policy decisions and statement, 8 September 2022 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds220908~1d17d49d04.en.pdf Macroeconomic projections, 8 September 2022 https://www.ecb.europa.eu/pub/projections/html/ecb.projections202209_ecbstaff~3eafaaee1a.en.html 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

How can digitalisation help central banks? And what role does cutting-edge technology play? In this episode, host Katie Ranger talks about this and more with Claudia Plattner, our head of information systems. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 11 August 2022 and recorded on 3 August 2022. In this episode: 03:30 – Women in IT Claudia’s personal experience as a woman working in IT and how we can make sure that female talent is valued in this field. 08:01 – What is nowcasting? How digital tools help us keep prices stable and monitor how the economy is doing, and why real-time data are so important for central banks. 14:05 – Digitalisation in the fight against climate change Using information technology to make the financial system greener and how we use data to monitor climate and environmental risks. 18:10 – Claudia’s thoughts on a digital euro Why we need a digital euro and how it can help Europeans keep up with the pace of digitalisation. 21:21 – Our guest’s hot tips ECB Scholarship for Women https://www.ecb.europa.eu/careers/what-we-offer/wecs/html/index.en.html Girls Who Code https://girlswhocode.com/ The ECB Podcast: Greening the financial system: milestones in our climate change journey, 9 July 2022 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220709_episode36.en.html Climate change and the ECB https://www.ecb.europa.eu/ecb/climate/html/index.en.html A digital euro https://www.ecb.europa.eu/paym/digital_euro/html/index.en.html European Central Bank website https://www.ecb.europa.eu/home/html/index.en.html

What are interest rates? How do they work? And what do higher rates mean for people, the economy and inflation? Our host, Katie Ranger, puts these questions to expert Gabriel Glöckler on The ECB Podcast. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 23 July 2022 and recorded on 13 July 2022 and 22 July 2022. In this episode: 01:50 – The basics: what are interest rates? What interest rates are and why we need them to compensate for different risks. 06:34 – How do interest rates work? The role interest rates play in determining the everyday choices we make with our money and how the ECB’s decisions affect market interest rates. 13:20 – Are rates the same across the whole euro area? Why it’s important that our monetary policy decisions reach all parts of the euro area in a reasonably even manner. 17:40 – How do higher rates affect people, the economy and inflation? The concrete impact of higher rates on people’s daily lives and on economic activity, and how raising rates can help bring down inflation. 20:20 – Raising rates in times of war and at the tail end of a pandemic. The challenges the current environment poses for interest rates and the role higher rates play in shaping people’s inflation expectations. The importance of signalling our commitment to normalising our monetary policy. 25:31 – Our guest’s hot tip Additional material: Press release: monetary policy decisions, 21 July 2022 https://www.ecb.europa.eu/press/pr/date/2022/html/ecb.mp220721~53e5bdd317.en.html Our monetary policy statement at a glance, 21 July 2022 https://www.ecb.europa.eu/press/pressconf/visual-mps/2022/html/mopo_statement_explained_july.en.html Explainer: We have raised interest rates. What does that mean for you? https://www.ecb.europa.eu/ecb/educational/explainers/tell-me-more/html/interest_rates.en.html Blog post by Christine Lagarde: Ensuring price stability, 23 July 2022 https://www.ecb.europa.eu/press/blog/date/2022/html/ecb.blog220723~c2b1d4b654.en.html The ECB Podcast: President Lagarde presents the latest monetary policy decisions, 21 July 2022 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220721_episode37.en.html The ECB Podcast: What is behind current inflation spikes?, 6 October 2021 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod210925_episode22.en.html 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

Today our Governing Council decided on monetary policy, determining what’s needed to achieve stable prices in the euro area. 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 21 July 2022. Additional material: Our monetary policy statement at a glance, 21 July 2022 https://www.ecb.europa.eu/press/pressconf/visual-mps/2022/html/mopo_statement_explained_july.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A), 21 July 2022 https://www.ecb.europa.eu/press/pressconf/2022/html/ecb.is220721~51ef267c68.en.html Monetary policy decisions, 21 July 2022 https://www.ecb.europa.eu/press/pr/date/2022/html/ecb.mp220721~53e5bdd317.en.html Combined monetary policy decisions and statement, 21 July 2022 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds220721~de2b7f0639.en.pdf Press release: The Transmission Protection Instrument, 21 July 2022 https://www.ecb.europa.eu/press/pr/date/2022/html/ecb.pr220721~973e6e7273.en.html Explainer: We have raised interest rates. What does that mean for you? https://www.ecb.europa.eu/ecb/educational/explainers/tell-me-more/html/interest_rates.en.html 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

What did our climate stress test show? How will we integrate climate change into monetary policy? Our host Katie Ranger puts these and other questions to Executive Board member Frank Elderson on the ECB Podcast. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 9 July 2022 and recorded on 7 July 2022. In this episode: 01:09 – Our first ever banking supervision climate stress test What we looked at in our supervisory climate stress test and an overview of the transition risks and physical risks facing banks. 05:32 – Results of the climate stress test for banks How prepared banks are to tackle climate-related and environmental risks and what we learnt while performing the stress test. 18:58 – What are our next steps? How the results of the climate stress test will feed into other banking supervision activities and how this will help banks integrate climate-related risks into their businesses. 20:32 – Incorporating climate change into our monetary policy How we are turning our commitment to fighting climate change into real action and how we intend to move from being market-neutral to carbon-neutral. 25:11 – Why do we, as a central bank, need to play a role in tackling climate change? How we can contribute within our mandate to the fight against climate change. 30:50 – Our guest’s hot tip Additional material: Press release: ECB takes further steps to incorporate climate change into its monetary policy operations, 4 July 2022 https://www.ecb.europa.eu/press/pr/date/2022/html/ecb.pr220704~4f48a72462.en.html ECB climate agenda 2022, 4 July 2022 https://www.ecb.europa.eu/press/pr/date/2022/html/ecb.pr220704_annex~cb39c2dcbb.en.pdf Press release: Banks must sharpen their focus on climate risk, ECB supervisory stress test shows, 8 July 2022 https://www.bankingsupervision.europa.eu/press/pr/date/2022/html/ssm.pr220708~565c38d18a.en.html Climate risk stress tests – Final results, 8 July 2022 https://www.bankingsupervision.europa.eu/ecb/pub/pdf/annex/ssm.pr220708_annex2.en.pdf The ECB Podcast: Time to act now: results of the economy-wide climate stress test, 22 September 2021 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod210922_episode20.en.html The ECB Podcast: Tackling climate change as a central bank: Between motivation, obligation and limitation, 12 May 2021 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod210512_episode16.en.html The ECB Podcast: Climate change and the role of central banks, 3 March 2020 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod200303_episode5.en.html Climate change and the ECB https://www.ecb.europa.eu/ecb/climate/html/index.en.html Climate change and banking supervision https://www.bankingsupervision.europa.eu/about/climate/html/index.en.html European Central Bank www.ecb.europa.eu European Banking Supervision www.www.bankingsupervision.europa.eu

Today our Governing Council decided on monetary policy, determining what’s needed to achieve stable prices in the euro area. 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 9 June 2022. Additional material: Our monetary policy statement at a glance, 9 June 2022 https://www.ecb.europa.eu/press/pressconf/visual-mps/2022/html/mopo_statement_explained_june.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A), 9 June 2022 https://www.ecb.europa.eu/press/pressconf/2022/html/ecb.is220609~abe7c95b19.en.html Monetary policy decisions, 9 June 2022 https://www.ecb.europa.eu/press/pr/date/2022/html/ecb.mp220609~122666c272.en.html Combined monetary policy decisions and statement, 9 June 2022 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds220609~7434064bed.en.pdf Macroeconomic projections, 9 June 2022 https://www.ecb.europa.eu/pub/projections/html/index.en.html 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

How is financial stability doing in the wake of Russia’s invasion of Ukraine? What risks are we keeping an eye on, for instance in the crypto-asset and housing markets? Our host Katie Ranger puts these and other questions to our financial stability experts Tamarah Shakir and John Fell on The ECB Podcast. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 1 June 2022 and recorded on 27 May 2022. In this episode: 05:55 – How is financial stability faring in the current uncertain environment? Why financial stability conditions have worsened, what the main causes of this are and how the war is affecting the financial system. 13:54 – How is high inflation affecting financial stability? What impact higher prices are having on the financial system, and how inflation affects both people’s ability to repay debts and the financing role of markets. 20:10 – What’s going on in the housing market? Why house prices have been rising and what risks might emerge as a result. 24:05 – Why are crypto-assets a risk to financial stability? The current state of crypto-assets, and how other developments might increase the risks they pose to the financial system. 30:02 – Our guests’ hot tips Our financial experts John Fell and Tamarah Shakir share their book and podcast recommendations. Additional material: Financial Stability Review, May 2022 https://www.ecb.europa.eu/pub/financial-stability/fsr/html/index.en.html The ECB Podcast: Bicycles, bitcoin and zombie firms: financial stability in the wake of the third wave, June 2021 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod210616_episode17.en.html The ECB Podcast: A cyclist’s guide to financial stability amid a pandemic, November 2020 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod201125_episode12.en.html European Central Bank www.ecb.europa.eu You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more: https://pod.link/ecbpodcast