Euro Matters – the European Central Bank Podcast

Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% goal. 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 6 June 2024 Our monetary policy statement at a glance, 6 June 2024 https://www.ecb.europa.eu/press/press_conference/visual-mps/2024/html/mopo_statement_explained_june.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement, 6 June 2024 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2024/html/ecb.is240606~d32cd6cc8a.en.html Monetary policy decisions, 6 June 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240606~2148ecdb3c.en.html Combined monetary policy decisions and statement, 6 June 2024 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/shared/pdf/ecb.ds240606~f4d2c4833d.en.pdf?3d009dc9ec7917c832fe9a5a41e12fcd 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 does the rapid advance of AI mean for our financial system? And how is financial stability affected by geopolitical risk? Our host Stefania Secola puts these questions to expert John Fell in The ECB Podcast’s regular look at financial stability in the euro area. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 17 May 2024 and recorded on 10 May 2024. In this episode: 01:01 – How stable is our financial system right now? Our latest financial stability assessment is more positive, but just how resilient is our financial system to shocks? 04:56 – What concerns does geopolitical risk raise? How can geopolitical risk affect markets, banks and non-banks like investment funds, and what can financial institutions do to manage it? 09:55 – How can AI help the financial system? Artificial intelligence offers promising ways to improve efficiency, customer service and risk management. 13:32 – Can AI be a source of systemic risk? Widespread use of AI tools and reliance on a small number of suppliers could lead to financial stability risks. 19:13 – Our guest’s hot tip Financial stability expert John Fell shares his hot tip with our listeners. Further reading: Financial Stability Review, May 2024 https://www.ecb.europa.eu/press/financial-stability-publications/fsr/html/index.en.html Turbulent times: geopolitical risk and its impact on euro area financial stability (special feature A) https://www.ecb.europa.eu/press/financial-stability-publications/fsr/html/ecb.fsr202405~7f212449c8.en.html#toc33 The rise of artificial intelligence: benefits and risks for financial stability (special feature B) https://www.ecb.europa.eu/press/financial-stability-publications/fsr/html/ecb.fsr202405~7f212449c8.en.html#toc34 The ECB Podcast: When the yin meets the yang: resilience in gloomy times, December 2023 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod231202_episode74.en.html European Central Bank www.ecb.europa.eu

What are inflation expectations? How do our personal experiences shape them? And why do they matter to central banks? In this episode of The ECB Podcast, our host Stefania Secola and researchers Geoff Kenny and Dimitris Georgarakos discuss how people form expectations about inflation and how we measure them. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 26 April 2024 and recorded on 19 April 2024. In this episode: 01:35 – Inflation expectations What are inflation expectations, and why do they matter for central banks? How do people form such expectations? 9:25 – The impact on prices Can inflation expectations shape the prices we end up paying? How might personal perceptions influence wages? 11:30 – Measuring inflation expectations Why is it important to measure inflation expectations, and how do we do it at the ECB? What were the findings of our latest survey? 16:38 – The role of the ECB What can the ECB do to inform people’s inflation expectations? And what role can communication play in this? 21:15 – Our guests’ hot tips ECB researchers Geoff Kenny and Dimitris Georgarakos share their hot tips and some final thoughts with our listeners. ECB Consumer Expectations Survey https://www.ecb.europa.eu/stats/ecb_surveys/consumer_exp_survey/html/index.en.html Working Paper: Tell me something I don’t already know: learning in low and high-inflation settings, March 2024 https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2914~d6a8832bf5.en.pdf?e655c8b68e7c2fb096387a4da34c42e6 Research Bulletin: Recent changes in consumers’ medium-term inflation expectations – a detailed look, February 2023 https://www.ecb.europa.eu/press/research-publications/resbull/2023/html/ecb.rb230224~558beec65c.en.html Economic Bulletin issue 3/2024: Trust in the ECB – insights from the Consumer Expectations Survey, April 2024 https://www.ecb.europa.eu/press/economic-bulletin/html/eb202403.en.html#toc24 European Central Bank www.ecb.europa.eu

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 Published and recorded during our press conference on 11 April 2024 Additional material Our monetary policy statement at a glance, 11 April 2024 https://www.ecb.europa.eu/press/press_conference/visual-mps/2024/html/mopo_statement_explained_april.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement, 11 April 2024 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2024/html/ecb.is240411~9974984b58.en.html Monetary policy decisions, 11 April 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240411~1345644915.en.html Combined monetary policy decisions and statement, 11 April 2024 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/shared/pdf/ecb.ds240411~58dd9ec73d.en.pdf?566c397f0364d717913bf7770e67bf17 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

We have made good progress in our fight against inflation since we started to tighten our monetary policy in 2022. Where do we stand right now? And what are we keeping a close eye on in the economy? Host Stefania Secola discusses these topics with our Chief Economist Philip R. Lane. They also talk about the ECB’s recent changes to its operational framework for implementing monetary policy. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 25 March 2024 and recorded on 21 March 2024. In this episode: 01:23 – Inflation right now How has inflation evolved since its peak in late 2022? What is the outlook for the year ahead and what will shape our future decisions? 03:30 – Wages and inflation How are rising wages affecting inflation, and is the situation the same across all euro area countries? 09:54 – The state of the labour market Unemployment is historically low, but economic growth is projected to be lower than in previous years. What might the coming months hold for the labour market? 13:54 – The ECB’s operational framework Why have we reviewed our operational framework for implementing monetary policy? How does it help our work to keep prices stable? 19:02 – Our guest’s hot tip Our guest, Philip R. Lane, encourages our listeners to read a paper that looks at the macroeconometric models used at the ECB for forecasting and policy analysis. Further Reading: The ECB Podcast: Are wages and greedflation really pushing up prices? June 2023 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230623_episode62.en.html Occasional Paper 344: ECB macroeconometric models for forecasting and policy analysis https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op344~53b9e2aa4d.en.pdf?14821c7f99280514dbdaa26114c4f565 Press release: ECB announces changes to the operational framework for implementing monetary policy https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.pr240313_1~a3a50a9add.en.html Economic Bulletin Issue 2/2024, Article 1: The impact of recent shocks and ongoing structural changes on euro area productivity growth https://www.ecb.europa.eu/pub/economic-bulletin/articles/2024/html/ecb.ebart202402_01~d63ecff49c.en.html Press release: Monetary policy decisions (7 March 2024) https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240307~a5fa52b82b.en.html European Central Bank www.ecb.europa.eu

Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% target 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 Recorded and published on 7 March 2024 Our monetary policy statement at a glance, 7 March 2024 https://www.ecb.europa.eu/press/pressconf/visual-mps/2024/html/mopo_statement_explained_march.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement, 7 March 2024 https://www.ecb.europa.eu/press/pressconf/2024/html/ecb.is240307~314650bd5c.en.html Monetary policy decisions, 7 March 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240307~a5fa52b82b.en.html Combined monetary policy decisions and statement, 7 March 2024 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds240307~8e06c79bf2.en.pdf?e86e578f1a99fdaa095a37dc4f1f6355 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

Did you know that euro banknotes are getting a makeover? As the euro turns 25, let’s look at the road ahead for our banknotes. What will future euro banknotes look like, why do we need them, and when can we start using them? Join our host Stefania Secola and Sarai Artiles, who works on banknote communications, to find out more. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 10 February 2024 and recorded on 1 February 2024. In this episode: 00:05 – The euro is turning 25 The euro unites us – it is used by 350 million people in 20 countries! Euro banknotes are a physical reminder of our shared identity. 01:56 – Why are we redesigning euro banknotes? Security, environmental aspects and relatability: these are just some of the reasons we are designing a new series of euro banknotes. 05:28 – Many cultures, one euro Euro banknotes are used by people with different backgrounds, cultures, and languages. How can future banknotes represent them all? 08:50 – What will they look like? “European culture” and “Rivers and birds” have been selected as the themes for future euro banknotes. Does this mean we already know what they’ll look like? 10:20 – When can we start using them? We have the themes, but what’s next in the banknote redesign process? When can we expect to start using these new banknotes? 12:30 – Our guest’s hot tip Additional material: Press release: ECB selects “European culture” and “Rivers and birds” as possible themes for future euro banknotes https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr231130~cad7fa27ab.en.html Press release: ECB surveys Europeans on new themes for euro banknotes https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr230710~77cf718c59.en.html Podcast: All you need to know about euro banknotes https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220205_episode27.en.html Webpage: FAQ on the redesign of euro banknotes https://www.ecb.europa.eu/euro/banknotes/future_banknotes/html/ecb.faq_banknotes_redesign.en.html Webpage: The redesign process https://www.ecb.europa.eu/euro/banknotes/future_banknotes/redesign/html/index.en.html European Central Bank http://www.ecb.europa.eu/

What lies ahead on our path to a greener future? How can we assess the impact of extreme weather on the economy? And how can we tackle financial risks from nature loss and degradation? With its new climate and nature plan, the ECB is stepping up its work in these areas over the next two years. Our host Stefania Secola discusses this and more with the head of the ECB’s climate change centre, Irene Heemskerk. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 31 January 2024 and recorded on 23 January 2024. In this episode: 01:00 – The ECB’s work on climate What has the ECB done so far to help tackle climate change, what does it plan to focus on going forward and why is this work important? 04:35 – The intensifying climate crisis As global temperatures rise and extreme climate events become more frequent and more devastating, what is the impact on the economy and the financial system? What can the ECB do about it? 07:40– Keeping the green transition on course Time is running out to contain global warming and meet the Paris Agreement targets. Governments are in the driving seat but we’re all heading in the same direction. How can economic analysis contribute to these efforts, and how can we unlock the funds needed to keep the green transition moving forward? 13:15 – Defining a role for monetary policy The ECB has already tilted its corporate bond holdings towards issuers with better climate performance. What else can it do, within its mandate, to support the green transition? What role can interest rates play? 15:00 – From climate change to environmental crises: nature and biodiversity loss Euro area firms and banks are highly dependent on nature, but nature is being rapidly devastated by human activity. What are the economic and financial risks stemming from nature degradation? 17:22 - Our guest’s hot tip ECB climate change centre head Irene Heemskerk shares her hot tip with our listeners. Additional material: Press release: ECB steps up climate work with focus on green transition, climate and nature-related risks, 30 January 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.pr240130~afa3d90e07.en.html The ECB’s climate and nature plan 2024-25 https://www.ecb.europa.eu/ecb/climate/our-climate-and-nature-plan/html/index.en.html Climate change and the ECB https://www.ecb.europa.eu/ecb/climate/html/index.en.html The ECB’s publications on climate change https://www.ecb.europa.eu/home/search/html/climate_change.en.html The ECB Podcast: What biodiversity and nature loss mean for our economy, 25 November 2023 https://www.youtube.com/watch?v=DP3tRzELPLY European Central Bank www.ecb.europa.eu www.bankingsupervision.europa.eu

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 Published and recorded during our press conference on 25 January 2024. Our monetary policy statement at a glance, 25 January 2024 https://www.ecb.europa.eu/press/pressconf/visual-mps/2024/html/mopo_statement_explained_january.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement, 25 January 2024 https://www.ecb.europa.eu/press/pressconf/2024/html/ecb.is240125~db0f145c32.en.html Monetary policy decisions, 25 January 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240125~f738889bde.en.html Combined monetary policy decisions and statement, 25 January 2024 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds240125~d65b43331a.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

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 Published and recorded during our press conference on 14 December 2023. Additional material Our monetary policy statement at a glance, 14 December 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_december.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement, 14 December 2023 https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is231214~df8627de60.en.html Monetary policy decisions, 14 December 2023 https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp231214~9846e62f62.en.html Combined monetary policy decisions and statement, 14 December 2023 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds231214~cbcff0882a.en.pdf Macroeconomic projections, 14 December 2023 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

Outgoing Supervisory Board Chair Andrea Enria sat down with President Christine Lagarde during the ECB Forum on Banking Supervision to look back on his five-year term, marked by challenges such as the pandemic and reflects on the most difficult decision he had to take. He also reflects on the decisions taken to overcome these challenges, and what the future holds for European banking supervision. Recorded on 1 December 2023 and published on 9 December 2023. Additional material: President Christine Lagarde’s welcome address at the fifth ECB Forum on Banking Supervision https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp231130~48f5947179.en.html ECB Forum on Banking Supervision https://www.bankingsupervision.europa.eu/press/conferences/html/20231130_5th_ECB_Forum_Banking_supervision.en.html European Banking Supervision https://www.bankingsupervision.europa.eu/home/html/index.en.html European Central Bank www.ecb.europa.eu

How are financial markets reacting to higher rates, a sluggish economy and geopolitical tensions? Should we worry about property markets? Our host Stefania Secola puts these questions to financial stability expert 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 2 December 2023 and recorded on 27 November 2023. In this episode: 01:08 – Financial markets’ optimism is put to the test How are financial markets reacting to the new environment of high interest rates, a sluggish economy and rising geopolitical tensions? 06:00 – The conundrum of banks’ increasing profits and stagnant valuations Banks’ profits are at multi-year highs, yet their valuations haven’t changed much. What factors explain this? 10:31 – Real estate markets are a source of concern Residential and commercial property markets are feeling the impact of higher interest rates. What are the implications for banks and financial stability? 16:06 – The yin and the yang of financial stability As the credit cycle turns, and with several vulnerabilities unravelling, can resilience compensate? 18:22 – Conclusion Additional material: Financial Stability Review, November 2023 https://www.ecb.europa.eu/pub/financial-stability/fsr/html/index.en.html FSR Box 5 on Euro area bank fundamentals, valuations and cost of equity https://www.ecb.europa.eu/pub/financial-stability/fsr/html/ecb.fsr202311~bfe9d7c565.en.html#toc27 Special feature B on Real estate markets in an environment of high financing costs https://www.ecb.europa.eu/pub/financial-stability/fsr/html/ecb.fsr202311~bfe9d7c565.en.html#toc40 The ECB Podcast: Financial stability and bank runs, June 2023 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230607_episode60.en.html European Central Bank www.ecb.europa.eu

Nature is in danger. This affects us all, including businesses and banks. Why is this relevant for the ECB’s mandate? Join our host Stefania Secola and her guest Frank Elderson, Executive Board member and Supervisory Board Vice-Chair, as they discuss nature loss, its impact on our economy and what we’re doing about it. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 25 November 2023 and recorded on 17 November 2023. In this episode: 00:05 – Nature is in danger Habitats and species are in decline. How does this affect our economies? And if our mandate is to maintain price stability and keep euro area banks safe and sound, why does the ECB care about biodiversity loss? 02:01 – The economic impact of biodiversity loss How big is the impact of biodiversity loss on people and businesses? How much are banks, and the wider economy, affected? And what’s the ECB’s role in this? 08:38 – What’s the ECB doing about nature loss? Knowledge is the first step. Quantifying the impact that nature loss has on our economies and banks is important. But what can the ECB do with these findings? 15:51 – Are banks doing enough? We’ve asked banks to come up with action plans to assess their climate and environmental risks. But they need to make more progress. 17:45 – Our guest’s hot tip Executive Board member and Supervisory Board Vice-Chair, Frank Elderson, shares his hot tip with our listeners. Additional material: Occasional Paper: Living in a world of disappearing nature: physical risk and the implications for financial stability https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op333~1b97e436be.en.pdf?90e7aaae4ef927f887a787587a22adba The ECB Blog by Frank Elderson: The economy and banks need nature to survive https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog230608~5cffb7c349.en.html The ECB Podcast: Are banks walking the talk on climate? https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221102_episode44.en.html The ECB Podcast: Being transparent about climate risks https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230513_episode58.en.html “Addressing tipping points for a precarious future” by Timothy O’Riordan and Timothy Lenton European Central Bank http://www.ecb.europa.eu/

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 Published and recorded during our press conference on 26 October 2023 in Athens, Greece. Additional material: Our monetary policy statement at a glance, 26 October 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_october.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement, 26 October 2023 https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is231026~c23b4eb5f0.en.html Monetary policy decisions, 26 October 2023 https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp231026~6028cea576.en.html Combined monetary policy decisions and statement, 26 October 2023 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds231026~3af2df9818.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

Will we soon pay with a digital euro? Would it replace cash? And who is it for? Although no decision has been made on issuance, we are preparing for a possible digital euro. This is fuelling a lot of interest − and quite a few misconceptions. Join our host Stefania Secola and her guest Evelien Witlox, head of the ECB’s digital euro project, as they set the record straight by busting some myths on the topic. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 24 October 2023 and recorded on 19 October 2023. In this episode: 00:20 – Digitalisation in payments The world is becoming increasingly digital, and the way we pay is no exception. To ensure our euro is future-proof, the ECB has decided to proceed with a digital euro preparation phase. 01:28 – The project moves ahead What does the decision to move to the next phase mean? Will we soon be able to pay with a digital euro? 04:01 – The need for a digital euro I can already pay digitally with my bank card, my phone or even my watch. What’s the difference between doing this and paying with a digital euro? 06:25 – Digital euro and cash What about euro cash? Will a digital euro replace banknotes and coins? 09:35 – Who will use it? Is a digital euro only for young people in big cities? Will it exclude people who don’t have a phone? 10:34 – Data and the digital euro Will the ECB collect personal data when you pay with the digital euro and if so, for what purpose? 12:51 – The project team Who’s involved in the digital euro project? Is the ECB doing all this alone? 15:20 – Our guest’s hot tip Additional material: Press release: Eurosystem proceeds to next phase of digital euro project https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr231018~111a014ae7.en.html Digital euro hub page https://www.ecb.europa.eu/paym/digital_euro/html/index.en.html Webpage: Why do we need a digital euro https://www.ecb.europa.eu/paym/digital_euro/why-we-need-it/html/index.en.html The ECB Podcast: A digital euro: what, why, when? (part 1) https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221015_episode41.en.html The ECB Podcast: A digital euro: what, why, when? (part 2) https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221019_episode42.en.html' European Central Bank http://www.ecb.europa.eu/

How can new technologies improve banking supervision? What challenges do they bring for supervisors? And how will artificial intelligence make Europe’s banks safer? Our new host Stefania Secola explores this topic with Supervisory Board member Elizabeth McCaul. A warm welcome to Stefania and a big thanks for standing in for Katie Ranger, who is away for a while. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 28 September 2023 and recorded on 22 September 2023. In this episode: 01:25 – Digitalisation in banking supervision How are technological changes affecting supervision? What kinds of supervisory technology – also known as suptech – are we using? And will robots end up supervising banks? 5:07 – Using suptech to sort data How do supervisors use technology to analyse big amounts of data? Why is this important? And how does this help bank customers? 10:20 – Artificial intelligence (AI) How do we use technology to make sure banks are run by the right people? Is human judgment still important when using artificial intelligence? 12:07 – The people behind new technologies How do different supervisory teams cooperate? And how does technology help fight financial crime? 15:15 – Our guest’s hot tip Supervisory Board member, Elizabeth McCaul, shares her hot tips with our listeners. Additional material: Technology, data and innovation – shaping the future of supervision. Keynote speech by Elizabeth McCaul https://www.bankingsupervision.europa.eu/press/speeches/date/2023/html/ssm.sp230920_1~9315562707.en.html Supervision Newsletter – Digital transformation requires strong governance and steering https://www.bankingsupervision.europa.eu/press/publications/newsletter/2023/html/ssm.nl230517_3.en.html The ECB Podcast: Let's get digital on inflation, climate and the euro https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220811_episode39.en.html The ECB Blog by Myriam Moufakkir: Machines help to crunch the numbers, 28 September 2023 https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog230928~3f76d57cce.en.html European Central Bank www.ecb.europa.eu European Banking Supervision 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 14 September 2023. Additional material: Our monetary policy statement at a glance, 14 September 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_september.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement, 14 September 2023 https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is230914~686786984a.en.html Monetary policy decisions, 14 September 2023 https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230914~aab39f8c21.en.html Combined monetary policy decisions and statement, 14 September 2023 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds230914~bfc89c4456.en.pdf Macroeconomic projections, 14 September 2023 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 on pod.link/ecbpodcast

Banks are one of the main channels through which our monetary policy decisions reach the economy. How have they passed on our recent interest rate hikes? Has it been the same for loans as for savings? And what is the impact on people and firms? Our host Katie Ranger and Chief Economist Philip R. Lane unpick these questions in the third and final episode of our Summer School mini-series. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 18 August 2023 and recorded on 27 July 2023. Additional material [to be added as a heading in SoundCloud] The ECB Podcast Summer School #1: a deep dive into inflation – August 2023 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 – August 2023 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230811_episode67.en.html The ECB Podcast: are wages and greedflation really pushing up prices? June 2023 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230623_episode62.en.html Our monetary policy statement at a glance – July 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_july.en.html European Central Bank www.ecb.europa.eu

We’ve been raising interest rates to bring down inflation. How does that work? Are we already seeing the impact on prices? And is this the end of super-low rates? Our host Katie Ranger puts these questions to Chief Economist Philip R. Lane in the second episode of our Summer School mini-series. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 11 August 2023 and recorded on 27 July 2023. Additional material [pls add this as a headline on soundcloud too] The ECB Podcast Summer School #1: a deep dive into inflation https://soundcloud.com/europeancentralbank/the-ecb-podcast-summer-school-a-deep-dive-into-inflation The ECB Podcast: are wages and greedflation really pushing up prices? June 2023 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230623_episode62.en.html Our monetary policy statement at a glance – July 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_july.en.html European Central Bank www.ecb.europa.eu

Inflation is falling, but it’s still higher than we want it to be. What’s making it hard to tackle? And what will determine how prices and wages develop? Our host Katie Ranger gets to the bottom of this with our Chief Economist Philip R. Lane in our new Summer School mini-series. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 4 August 2023 and recorded on 27 July 2023. Additional material Consumer Expectations Survey https://www.ecb.europa.eu/stats/ecb_surveys/consumer_exp_survey/html/index.en.html Economic Bulletin: Underlying inflation measures: an analytical guide for the euro area https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202305_05~84e89bcb5d.en.html The ECB Podcast: are wages and greedflation really pushing up prices? June 2023 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230623_episode62.en.html Our monetary policy statement at a glance – July 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_july.en.html

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 July 2023. 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 Additional material: Our monetary policy statement at a glance, 27 July 2023 [link to visual monetary policy statement] Christine Lagarde, Luis de Guindos: Monetary policy statement, 27 July 2023 https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is230727~e0a11feb2e.en.html Monetary policy decisions, 27 July 2023 https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230727~da80cfcf24.en.html Combined monetary policy decisions and statement, 27 July 2023 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds230727~9e147b657d.en.pdf

How are changes in energy markets affecting people’s daily lives? And how can we make our economies more resilient to these shocks? Our host Katie Ranger discusses recent developments in energy markets and their impact on our economies with Norges Bank Governor Ida Wolden Bache while at the ECB Forum on Central Banking. Published on 29 June 2023 and recorded on 27 June 2023. ECB Forum on Central Banking 2023 – programme https://www.ecb.europa.eu/pub/conferences/html/20230626_ecb_forum_on_central_banking.en.html European Central Bank www.ecb.europa.eu

How stable is the global economic recovery? And is geoeconomic fragmentation a threat? Gita Gopinath, the IMF’s First Deputy Managing Director, joins our host Katie Ranger on the ECB Podcast to discuss these and other questions while at the ECB Forum on Central Banking in Sintra, Portugal. Published on 27 June 2023 and recorded on 27 June 2023. Further reading: Three Uncomfortable Truths For Monetary Policy - Remarks by Gita Gopinath at the ECB Forum on Central Banking, 26 June 2023 https://www.ecb.europa.eu/pub/conferences/ecbforum/shared/pdf/2023/Gopinath_speech.pdf Three Uncomfortable Truths For Monetary Policy - Presentation by Gita Gopinath at the ECB Forum on Central Banking, 26 June 2023 https://www.ecb.europa.eu/pub/conferences/ecbforum/shared/pdf/2023/Gopinath_presentation.pdf IMF’s world economic outlook 2023 https://www.imf.org/en/Publications/WEO/Issues/2023/04/11/world-economic-outlook-april-2023 IMF’s report on geoeconomic fragmentation and the future of multilateralism https://www.imf.org/en/Publications/Staff-Discussion-Notes/Issues/2023/01/11/Geo-Economic-Fragmentation-and-the-Future-of-Multilateralism-527266 ECB Forum on Central Banking 2023 – programme https://www.ecb.europa.eu/pub/conferences/html/20230626_ecb_forum_on_central_banking.en.html Link to Gita Gopinath's opening speech, 26th of June: https://youtube.com/live/wbIbpItoOT4?feature=share European Central Bank www.ecb.europa.eu

What is the risk of a wage-price spiral? How long will we go on raising interest rates? And are companies’ high profits fuelling inflation? Our host Katie Ranger discusses these questions with our Chief Economist Philip R. Lane on The ECB Podcast. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 23 June 2023 and recorded on 20 June 2023. In this episode: 1:20 – The ECB’s latest monetary policy decisions Why are we raising interest rates again and when will we reach the right rate to bring inflation down to our 2% target? 6:56 – Underlying versus headline inflation: what’s the difference? What do we understand by core, headline and underlying inflation, what role do energy prices play, and which way is inflation going? 15:02 – The risk of a wage-price spiral What is the risk of a wage-price spiral, why can it be dangerous and how can we avoid it? 19:44 – The ‘’greedflation’’ phenomenon Are companies’ widening profit margins driving up inflation – and if so, how will this situation rebalance? 23:47 – Our guest’s hot tip Our guest, Philip R. Lane, recommends that our listeners take a look at the 2023 Young Economist Prize finalists’ papers – and tune in to the ECB Forum on Central Banking to hear the winner being announced. Further reading: The ECB Forum on Central Banking 2023 – Programme https://www.ecb.europa.eu/pub/conferences/html/20230626_ecb_forum_on_central_banking.en.html Meet the finalists of the 2023 Young Economist Prize https://www.ecb.europa.eu/pub/conferences/ecbforum/YE_competition/html/index.en.html Our monetary policy statement at a glance – June 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_june.en.html European Central Bank www.ecb.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 15 June 2023. Additional material: Our monetary policy statement at a glance, 15 June 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_june.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A), 15 June 2023 https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is230615~3de9d68335.en.html Monetary policy decisions, 15 June 2023 https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230615~d34cddb4c6.en.html Combined monetary policy decisions and statement, 15 June 2023 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds230615~19be62590b.en.pdf Macroeconomic projections, 15 June 2023 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 stable is our financial system? And what risks do we see for banks and property markets? Our host Katie Ranger delves into this topic with financial stability expert 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 7 June 2023 and recorded on 2 June 2023. In this episode: 01:45 – Looking back at the last six months What is a positive thing that has happened during the last six months in the financial sector, and what events are worrying? 04:58 – How the bank failures and takeovers in the United States and Switzerland have affected euro area banks Why were some of these events a surprise, and how much impact have they had on euro area banks? 10:20 – Lessons learnt from the banking turmoil What issues has the turmoil raised, what lessons can be learnt from these events, and why did the speed and scale of bank runs stand out? 14:13 – Real estate markets Which way are housing markets going after the long boom cycle? 19:52 – Our guest’s hot tip Our guest, John Fell, shares two film recommendations with our listeners. Additional material: Financial Stability Review, May 2023 https://www.ecb.europa.eu/pub/financial-stability/fsr/html/index.en.html The ECB Podcast: Hacktivists, ransoms and cyberwar – threats for the financial system? December 2022 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221206_episode46.en.html The ECB Podcast: Is financial stability at risk in these stormy times? November 2022 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221124_episode45.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 pod.link/ecbpodcast

As part of the celebrations for the ECB’s 25th anniversary, ECB President Christine Lagarde looks back at a quarter of a century of commitment to price stability and working for a better Europe, and explores what might lie ahead. Published on 24 May 2023. Speech of President Lagarde https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230524~4e026cefbc.en.html 25 years of euro united – The ECB Blog by President Christine Lagarde https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog.230524~ed0f2638c1.en.html Explainer: What the European Central Bank does and what it means for you https://www.ecb.europa.eu/ecb/educational/explainers/tell-me-more/html/anniversary.en.html Explainer: Five things you need to know about the ECB https://www.ecb.europa.eu/ecb/educational/explainers/tell-me-more/html/five_things.en.html Everyone needs stability – Introducing the ECB https://www.ecb.europa.eu/ecb/educational/everyone-needs-stability/html/index.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 pod.link/ecbpodcast

How transparent do organisations need to be about climate risks, and why does it matter? Where do banks and the ECB stand on sharing this information? Our host Katie Ranger speaks with Executive Board member and Supervisory Board Vice-Chair Frank Elderson in this episode of The ECB Podcast. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 13 May 2023 and recorded on 8 May 2023. In this episode: 01:27 – What are climate disclosures and why do they matter? What information organisations should share about their climate-related risks, the forms these disclosures can take, and why they’re important for people, companies, investors and institutions. 05:52 – Greenwashing and making sure disclosures aren’t misleading How we can make sure organisations are acting – and not just sounding – green, and how to know if the climate information can be trusted. 13:32 – How well are banks disclosing their climate risks? What our latest report reveals about the progress banks have made in becoming more transparent when it comes to climate risks, and what we expect from them as their supervisor. 17:50 – The ECB’s own climate disclosures What our first set of climate disclosures shows about the carbon footprint of corporate bonds we bought as part of our monetary policy and other investments. 22:38 – Our guest’s hot tip Additional material: Press release: Banks must continue improving climate risk disclosures as new EU rules take effect, ECB report shows https://www.bankingsupervision.europa.eu/press/pr/date/2023/html/ssm.pr230421~213bf10fbe.en.html Press release: ECB starts disclosing climate impact of portfolios on road to Paris-alignment https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr230323~05efc3cf49.en.html Explainer: What are climate disclosures? https://www.ecb.europa.eu/ecb/educational/explainers/html/what-are-climate-disclosures.en.html Speech by Frank Elderson: Policymakers as policy takers – accounting for climate-related and environmental factors in banking supervision and monetary policy https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230421~489cd977e0.en.html 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 banking supervision https://www.bankingsupervision.europa.eu/about/climate/html/index.en.html Climate change and the ECB https://www.ecb.europa.eu/ecb/climate/html/index.en.html European Central Bank www.ecb.europa.eu European Banking Supervision 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 4 May 2023. Our monetary policy statement at a glance, 4 May 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_may.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A), 4 May 2023 https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is230504~f242392c72.en.html Monetary policy decisions, 4 May 2023 https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230504~cdfd11a697.en.html Combined monetary policy decisions and statement, 4 May 2023 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds230504~3751d33d72.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

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 16 March 2023. Additional material: Our monetary policy statement at a glance, 16 March 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_march.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A), 16 March 2023 https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is230316~6c10b087b5.en.html Monetary policy decisions, 16 March 2023 https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230316~aad5249f30.en.html Combined monetary policy decisions and statement, 16 March 2023 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds230316~34822c9f1d.en.pdf Macroeconomic projections, 16 March 2023 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

To mark International Women’s Day, President Christine Lagarde and WTO Director-General Dr Ngozi Okonjo-Iweala discuss women in the economy and share their experiences as female leaders. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Recorded and published on 8 March 2023. Additional material: ECB Scholarship for Women https://www.ecb.europa.eu/careers/what-we-offer/wecs/html/index.en.html The ECB Podcast: Breaking bias to build a more gender-equal world, 5 March 2022 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220305_episode29.en.html The ECB Podcast: A conversation about female empowerment, the need for an inclusive recovery and transatlantic cooperation, 15 July 2021 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod210715_episode18.en.html The ECB Podcast: Fighting biases and empowering women: A conversation on female leadership and gender equality, 8 March 2021 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod210308_episode15.en.html European Central Bank website www.ecb.europa.eu You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

Does a central bank make profits and losses? How do they come about? And what was our financial position at the end of 2022? Our host Katie Ranger puts these questions to press officer William Lelieveldt on The ECB Podcast. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 23 February 2023 and recorded on 13 February 2023. In this episode: 01:14 – How does a central bank make a profit? How a central bank earns money, where its profits come from and what it does with its income. 03:49 – How does a central bank make a loss? What sort of thing is a cost for a central bank and how it spends its money. 04:55 – Our annual accounts in the current economic environment How higher interest rates affect our profits and losses, how we choose which bonds to buy and whether we could have avoided making a loss. 08:55 – The impact of making a loss How making a loss affects people in the euro area and what we expect our balance sheet to look like in a few years’ time. 11:48 – Our guest’s hot tip Additional material: Press release: Financial statements of the ECB for 2022, 23 February 2023 https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr230223~398b74f1dc.en.html Publication: Annual Accounts 2022, 23 February 2023 https://www.ecb.europa.eu/pub/annual/annual-accounts/html/ecb.annualaccounts2022~ee9329bf6f.en.html Explainer: Profits and losses of the ECB and the euro area national central banks: where do they come from? https://www.ecb.europa.eu/ecb/educational/explainers/tell-me-more/html/ecb_profits.en.html Explainer: Accountability https://www.ecb.europa.eu/ecb/orga/accountability/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 much do you know about Croatia’s economy? And what about the steps the country had to take to adopt the euro? Our host Katie Ranger and economist Martin Bijsterbosch explore these topics on The ECB Podcast. The views expressed are those of the speakers and not necessarily of the European Central Bank. Published on 16 February 2023 and recorded on 7 February 2023. In this episode: 01:00 – Croatia’s economy What Croatia’s economy looks like, and what ties the country already had with the euro area before joining the single currency. 04:00 – The path to joining the euro Why Croatia only adopted the euro in 2023, convergence criteria and what the country needed to accomplish in order to join the euro area. 08:53 – Croatia's response to economic shocks How Croatia’s economy has been affected by the pandemic and Russia’s invasion of Ukraine. 13:05 – Adopting the euro in a high-inflation environment How the euro changeover is going in a high-inflation environment and how Croatian authorities are monitoring and handling any deliberate increase of prices during the transition. 15:59 – What’s next for Croatia? The next steps on Croatia’s path towards full economic convergence with the euro area, and the main economic challenges facing the country. 18:59 – Our guest’s hot tip Additional material: The ECB Podcast: What does it take to change a currency?, 28 January 2023 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230128_episode50.en.html Interview with Christine Lagarde, President of the European Central Bank, conducted by Marina Klepo on 19 December 2022 https://www.ecb.europa.eu/press/inter/date/2022/html/ecb.in221231~16c85cd5a3.en.html Croatian euro coins https://www.ecb.europa.eu/euro/coins/html/hr.en.html Croatia changeover https://www.ecb.europa.eu/euro/changeover/croatia/html/index.en.html President Christine Lagarde's New Year's greeting and welcoming Croatia into the euro area https://www.youtube.com/watch?v=bDEVfk8oDBA 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

Every year we look at the challenges banks face and determine what they need to do to cope with them. What did we find in our latest assessment? How are banks faring in these uncertain times? In this episode of The ECB Podcast, our host Katie Ranger explores these questions with Supervisory Board Chair Andrea Enria. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 8 February 2023 and recorded on 31 January 2023. In this episode: 00:30 – What are the results of our latest assessment of banks? How Europe’s banks are faring in these uncertain times and what aspects they still need to work on. 02:55 – Our first look at leveraged finance What leveraged finance is, why it’s important for banks and why our review looked at this topic for the first time. 05:24 – The uncertain economic situation What the current uncertain situation means for banks, and what the biggest future challenges are for them? 08:07 – The effect of higher interest rates on banks Why higher interest rates are a positive thing for banks and how they could benefit them in terms of their profitability. 10:18 – Andrea Enria’s last year as Chair of the Supervisory Board What is the Supervisory Board Chair most proud about achieving during his mandate and what legacy he would like to leave to his successor. 13:22 – Our guest’s hot tip Additional materials: Press release: ECB keeps capital requirements steady in 2023, as banks remain resilient, 8 February 2023 https://www.bankingsupervision.europa.eu/press/pr/date/2023/html/ssm.pr230208~8971619db2.en.html Aggregate results of SREP 2022, 8 February 2023 https://www.bankingsupervision.europa.eu/banking/srep/2023/html/ssm.srep202302_aggregateresults2023.en.html Speech by Andrea Enria, Chair of the Supervisory Board of the ECB, at the press conference on the results of the 2022 SREP cycle, 8 February 2023 https://www.bankingsupervision.europa.eu/press/speeches/date/2023/html/ssm.sp230208~4ee762ce05.en.html The ECB Podcast: How healthy are Europe’s banks two years into the pandemic?, 12 February 2022 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220212_episode28.en.html The ECB Podcast: Making sure banks are run by the right people, 10 February 2021 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod211210_episode24.en.html The ECB Podcast: What lies on the horizon for Europe’s banks?, 16 November 2021 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod211116_episode23.en.html Banking Supervision website www.bankingsupervision.europa.eu European Central Bank website www.ecb.europa.eu 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 2 February 2023. Our monetary policy statement at a glance, 2 February 2023 https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_february.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A), 2 February 2023 https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is230202~4313651089.en.html Monetary policy decisions, 2 February 2023 https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230202~08a972ac76.en.html Combined monetary policy decisions and statement, 2 February 2023 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds230202~40a069a7b4.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

Croatia adopted the euro on 1 January. What did people, businesses and national authorities do to ensure a smooth transition to the euro? Our host Katie Ranger looks at the currency changeover with expert Patricia Roa Tejero on The ECB Podcast. The views expressed are those of the speakers and not necessarily of the European Central Bank. Published on 28 January 2023 and recorded on 20 January 2023. In this episode: 01:05 – Our guest’s personal experience of the euro changeover in Spain 02:50 – Banknotes and coins: from kuna to euro What goes into producing new euro banknotes, how the process differs for euro coins and how Croatia distributed them. 09:56 – Euro starter kits What’s inside a euro starter kit and why they’re useful for people and businesses. 11:10 – How to get used to a new currency How Croatia is dealing with the transition from kuna to euro, what dual pricing is, and where and how Croatians can exchange banknotes and coins. 16:38 – Our guest’s hot tip Additional material: Croatian euro coins https://www.ecb.europa.eu/euro/coins/html/hr.en.html Croatia changeover https://www.ecb.europa.eu/euro/changeover/croatia/html/index.en.html President Christine Lagarde's New Year's greeting and welcoming Croatia into the euro area https://www.youtube.com/watch?v=bDEVfk8oDBA 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 inflation affecting people and firms? Why are we raising interest rates? How will it help bring inflation down? Our host Katie Ranger talks to press officer Eva Taylor on The ECB Podcast. The views expressed are those of the speakers and not necessarily of the European Central Bank. Published on 20 December 2022 and recorded on 9 December 2022. In this episode: 01:03 – What is the impact of high inflation? How higher prices are affecting people and businesses in Europe, and who is hit the hardest by high inflation. 04:30 – What’s behind the high inflation we are seeing? What factors have been pushing prices up over the past few months and why the cost of food and energy is the main driver of inflation. 06:22 – How will raising interest rates help lower inflation? What central banks can do to control rising prices, why we are raising interest rates and what higher rates mean for people. 10:20 – What’s behind the idea of people’s inflation expectations? Why inflation expectations matter for us and how we can guide them. 13:32 Our guest’s hot tip Additional material: Our monetary policy statement at a glance, 15 December 2022 https://www.ecb.europa.eu/press/pressconf/visual-mps/2022/html/mopo_statement_explained_december.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A), 15 December 2022 https://www.ecb.europa.eu/press/pressconf/2022/html/ecb.is221215~197ac630ae.en.html Press release: monetary policy decisions, 15 December 2022 https://www.ecb.europa.eu/press/pr/date/2022/html/ecb.mp221215~f3461d7b6e.en.html The ECB Podcast: President Lagarde presents the latest monetary policy decisions, 15 December 2022 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221215_episode48.en.html The ECB Podcast: What interest rate hikes mean for you, the economy and inflation, 23 July 2022 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220723_episode38.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 https://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 15 December 2022. Our monetary policy statement at a glance, 15 December 2022 https://www.ecb.europa.eu/press/pressconf/visual-mps/2022/html/mopo_statement_explained_december.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A), 15 December 2022 https://www.ecb.europa.eu/press/pressconf/2022/html/ecb.is221215~197ac630ae.en.html Monetary policy decisions, 15 December 2022 https://www.ecb.europa.eu/press/pr/date/2022/html/ecb.mp221215~f3461d7b6e.en.html Combined monetary policy decisions and statement, 15 December 2022 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds221215~db4079c498.en.pdf Macroeconomic projections, 15 December 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

What will our banking supervisors focus on in the next three years? Are Europe’s banks fit to withstand the economic challenges? Our host Katie Ranger puts these questions to Supervisory Board Member Kerstin af Jochnick and supervisor Mario Quagliariello on The ECB Podcast. The views expressed are those of the speakers and not necessarily of the European Central Bank. Published on 12 December 2022 and recorded on 2 December 2022. In this episode: 00:00 – The new challenges facing banks What challenges does the current economic and geopolitical environment pose for banks. 03:20 – Credit risk and how banks manage it What an increase in credit risks means for banks, and what tools supervisors use to check if banks are able to manage these risks. 10:34 – Adapting to today’s increasingly digital world What challenges and risks banks face when becoming more digital-based, and how they can manage these. 15:43 – Banks’ progress on climate-related risks What banks have done so far to incorporate climate-related and environmental risks into their operations, and the areas on which our supervisors will be focusing. 19:50 – Our guests’ hot tips Additional material: ECB Banking Supervision: SSM supervisory priorities for 2023-2025, 12 December 2022 https://www.bankingsupervision.europa.eu/banking/priorities/html/ssm.supervisory_priorities202212~3a1e609cf8.en.html The Supervision Blog by Kerstin af Jochnick and Mario Quagliariello: Charting the course: our supervisory priorities, 12 December 2022 https://www.bankingsupervision.europa.eu/press/blog/2022/html/ssm.blog221212~52bd154288.en.html 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 The ECB Podcast: Are banks walking the talk on climate?, 2 November 2022 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221102_episode44.en.html The ECB Podcast: How healthy are Europe’s banks two years into the pandemic?, 12 February 2022 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220212_episode28.en.html European Banking Supervision https://www.bankingsupervision.europa.eu/home/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 https://pod.link/ecbpodcast

Are cyberattacks a threat to financial stability? Why do hackers target financial institutions? Our host Katie Ranger delves into this topic with financial stability expert John Fell on The ECB Podcast. The views expressed are those of the speakers and not necessarily of the European Central Bank. Published on 6 December 2022 and recorded on 28 November 2022. In this episode: 01:24 – Are cyberattacks a threat to financial stability? What cyberattacks mean for financial stability, and why the financial sector should worry about them. 06:30 – Why are we looking at cyber risk now? Why we covered the topic of cyber risk in our Financial Stability Review, and why cyberattacks have become a source of concern to financial institutions. 09:06 – What kind of cyberattacks did we look into? Who is behind cyberattacks, and which sectors and regions are the most at risk. 12:40 – Tracking cyberattacks and shielding against them Why it’s difficult to keep track of cyberattacks, and what can be done to make the financial system more resilient. 18:56 – Our guest’s hot tip Our guest, John Fell, shares a film recommendation with our listeners. Additional material: Financial Stability Review, November 2022 https://www.ecb.europa.eu/pub/financial-stability/fsr/html/ecb.fsr202211~6383d08c21.en.html Towards a framework for assessing systemic cyber risk, 15 November 2022 https://www.ecb.europa.eu/pub/financial-stability/fsr/special/html/ecb.fsrart202211_03~9a8452e67a.en.html The ECB Podcast: Financial stability amid Russia’s war in Ukraine, June 2022 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220601_episode34.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 pod.link/ecbpodcast

How is financial stability faring in today's challenging environment? What risks do we see for financial markets and real estate? Our host Katie Ranger talks to 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 24 November 2022 and recorded on 21 November 2022. In this episode: 01:14 – What is happening in financial markets? What risks lie ahead for financial markets, and what factors are responsible for the emerging vulnerabilities in this sector. 05:21 – Governments’ support measures and financial stability What impact country's support measures and rising debt levels might have on the financial system, and how targeted fiscal policies can help reduce financial stability risks. 09:46 – What’s going on in the housing market? Why house prices are rising more slowly and how higher interest rates are affecting people’s ability to pay their mortgages. 13:25 – Non-bank financial institutions and financial stability Why we are monitoring developments in the non-banks sector, and what risks they might pose for the financial system. 17:40 – Our guests’ hot tips Our financial experts John Fell and Tamarah Shakir share their book recommendations. Additional material: Financial Stability Review, November 2022 https://www.ecb.europa.eu/pub/financial-stability/fsr/html/ecb.fsr202211~6383d08c21.en.html The ECB Podcast: Financial stability amid Russia’s war in Ukraine, 1 June 2022 https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220601_episode34.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

We’ve looked at how banks are taking climate and environmental risks into account in their business. What did we find? Are banks meeting our supervisory expectations? Our host Katie Ranger discusses the results of our thematic review with Executive Board member and Supervisory Board Vice-Chair 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 2 November 2022 and recorded on 21 October 2022. In this episode: 01:10 – The results of our thematic review How banks are managing climate and environmental risks, and what happens if they don’t meet our supervisory expectations. 11:20 – Zooming in on bank strategies What steps banks have taken to understand how climate-related risks might impact their business model, and how they intend to adjust their strategy, such as through transition plans, plus areas that need more work. 18:06 – What is holding banks back from acting Why banks need to look at both short and longer term horizons when thinking about these risks. 20:18 – Zooming in on risk management How banks are taking climate-related risks into account when ensuring they have enough capital to cover their risks, and where more progress is needed. 23:50 – Why can’t banks just stop funding carbon-intensive activities? Why banks need transition plans to manage their risks as the world moves towards a greener economy, and our role here as supervisor. 26:46 The next steps for supervisors and banks How we will supervise banks to make sure they adequately manage climate-related risks and what we will do if they don’t, and what banks need to do to continue their path towards greening their business. 29:10 – Our guest’s hot tips Additional material: Walking the talk - Banks gearing up to manage risks from climate change and environmental degradation. Results of the 2022 thematic review on climate-related and environmental risks, 2 November 2022 https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm.thematicreviewcerreport112022~2eb322a79c.en.pdf?25fcb44be2443e30f9dd0ab68c0a7d84 Press release: ECB sets deadlines for banks to deal with climate risks, 2 November 2022 https://www.bankingsupervision.europa.eu/press/pr/date/2022/html/ssm.pr221102~2f7070c567.en.html The ECB Blog by Frank Elderson: Banks need to be climate change proof, 2 November 2022 https://www.bankingsupervision.europa.eu/press/blog/2022/html/ssm.blog221102~398faec8ca.en.html 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 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 banking supervision https://www.bankingsupervision.europa.eu/about/climate/html/index.en.html Climate change and the ECB https://www.ecb.europa.eu/ecb/climate/html/index.en.html UN Biodiversity Conference (COP 15), 7 – 19 December 2022 https://www.unep.org/un-biodiversity-conference-cop-15 Smithsonian American Art Museum: Online Gallery for Alexander von Humboldt and the United States: Art, Nature, and Culture https://americanart.si.edu/exhibitions/humboldt/online European Central Bank www.ecb.europa.eu European Banking Supervision 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 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