European Central Bank

Money Moves

Set to change president and half its executive board

Christine Lagarde will leave the European Central Bank on February 7, 2027, about nine months before her term was set to end. She announced the early departure on Thursday, saying she wants freedom to speak and act on matters beyond monetary policy.

Updated 39 minutes ago

Money Moves

Holding its deposit rate at 2.50% after a September increase, with inflation still above target

German inflation was 3.3% in September, the highest since December 2023, the Federal Statistical Office confirmed on October 13. Energy prices did the damage: they were 14.9% higher than a year earlier, with petrol up 37.1% and heating oil up 74.9%.

Updated 7 days ago

Money Moves

Approving authority

The European Central Bank on Thursday authorized UniCredit to raise its stake in Commerzbank above 30%, with no upper limit. The clearance lets the Italian bank convert the Commerzbank shares bought through an exchange offer, moving it toward about 50% of voting rights and control by year-end.

Updated Oct 17

Money Moves

Raised deposit rate to 2.50% on September 10; next decision October 29

Eurozone inflation hit 3.8% in September, a three-year high, with energy prices up 18.8% as the Iran war disrupts fuel supplies. ECB Chief Economist Philip Lane called the shock "mid-sized" and backed a measured response, citing contained spillovers and moderate wage deals.

Updated Oct 14

Rule Changes

Adopted the framework changes; lead overseer for Visa Europe

The European Central Bank is rebuilding how the euro area's money moves. In late September 2026, its Governing Council approved a stricter collateral framework, switched on Pontes, a system that settles tokenised assets in central bank money, and expanded the digital euro pilot to merchants.

Updated Oct 12

New Capabilities

Operator of Pontes via the Eurosystem

The European Central Bank switched on a new settlement system Monday for tokenized securities. Pontes links commercial blockchain platforms to TARGET, the Eurosystem's payment backbone, so trades settle in central bank reserves rather than a private ledger's own token.

Updated Sep 22

Money Moves

Deciding whether to raise rates again

The European Central Bank spent early 2026 cutting interest rates. An oil shock, and now a surprise growth spurt, have flipped its direction toward another hike.

Updated Jul 31

Rule Changes

Raised rates for the first time in nearly three years

The European Central Bank cut interest rates for two years. On Thursday it reversed, raising its key deposit rate to 2.25% from 2.0%. It is the first hike since September 2023.

Updated Jun 11

Rule Changes

Expanded to 21 members; welcomed Bulgaria with Frankfurt headquarters illumination

Bulgaria became the 21st eurozone member on January 1, 2026, replacing the lev at a fixed rate of 1.95583 per euro. Euro banknotes and coins began circulating at midnight, ending nearly three decades under a currency board.

Updated May 19