A field experiment indicates that direct communication with ECB visitors better anchors their inflation expectations. As Alexander Jung, Francesco Paolo Mongelli and Christian Scherf show, visitors with little knowledge of monetary policy are particularly likely to align their expectations with the ECB’s inflation target after speaking to central bankers.

The original post was published on 16 September 2025.
www.ecb.europa.eu/press/blog/date/2025/html/ecb.blog20250916~23a41f157c.en.html

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European Central Bank
www.ecb.europa.eu

ECB visitors – can direct communication alter inflation expectations?

Good statistics are accurate, timely, consistent and comparable. Only then can they be the unbiased reality check needed for responsible decision-making. Claudia Mann looks back at past mistakes and what Europe has learned from them.

The original post was published on 26 September 2025.
www.ecb.europa.eu/press/blog/date/2025/html/ecb.blog20250926~e348e2b4b9.en.html


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European Central Bank
www.ecb.europa.eu

Don’t blame the herald: statistical independence is indispensable

Banks are the backbone of our economy.

In a rapidly changing environment, they need to adapt and stay competitive to keep providing funding to people and businesses.

But so does ECB Banking Supervision. What are we doing to become more efficient, effective and risk-focused? And how are we simplifying supervision while safeguarding resilience? Our host Stefania Secola speaks to Supervisory Board member Sharon Donnery to find out.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Published on 1 October 2025 and recorded on 24 September 2025.


In this episode:

01:10 How are Europe’s banks doing?

What is going well? What about the challenges banks face, like those coming from geopolitical tensions, digitalisation and the climate crisis? And are we seeing signs of deterioration in banks’ asset quality?

04:12 Are the current rules too complex?

Are Europe’s banks over-regulated? Why does a complex business like banking need sufficiently developed rules? And is there room to make things simpler for both supervisors and banks?

05:34 Does simplification mean deregulation?

How do they differ from one another? And how will we put guardrails in place to safeguard the resilience we have worked so hard to build in the banking sector?

08:33 How are we simplifying how we supervise banks?

What concrete steps have we taken? How will these change our regular health check for banks and the way we conduct stress tests?

11:22 Who is involved in simplifying supervision?

How do we make sure that the right people are involved? And how are banks, banking federations, academics and others involved in the work that’s being done?

13:04 What does simplification mean for banks, supervisors and customers?

More efficiency, shorter timelines and better use of limited resources? And how can banking union give customers more options when it comes to products and services?

15:53 What about simplifying regulation?

Beyond how we supervise banks, what steps are being taken to simplify the rules? What is being done at the European level, and how is our work on supervision feeding into that?

18:22 Our guest’s hot tip

Sharon shares her hot tip with our listeners.

Further reading:

As simple as possible, but not simpler
https://www.bankingsupervision.europa...

Sharon’s hot tip: Making European supervision more efficient, effective and risk-focused
https://www.bankingsupervision.europa...

ECB Instagram
  / europeancentralbank  

Lifeline

Supervision, simplified

Do European workers see US tariff hikes as a threat to their job security? According to an ECB survey, while most workers are fairly relaxed, those in export-oriented sectors and those with lower incomes are more worried about their jobs than before the tariff increase.

The original post was published on 10 October 2025.
ecb.europa.eu/press/blog/date/2025/html/ecb.blog20251010~7737b271a0.en.html

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European Central Bank
www.ecb.europa.eu

Tariffs: are workers more worried about their jobs?

The verdict on climate change is bleaker than ever before. 
The remaining carbon budget to limit global warming to 1.5°C is rapidly shrinking – equivalent to just three years of emissions at current rates.
What is the scientific framework known as planetary boundaries? What’s science telling us about the economic impact of climate change? And how is the ECB addressing climate and nature-related risks?
Our host Paul Gordon speaks to Johan Rockström, Director of the Potsdam Institute for Climate Impact Research, and Irene Heemskerk, head of the ECB’s climate change centre, to find out why.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Recorded on 8 October 2025 and published on 14 October 2025.

In this episode:
01:48 Where do we stand in the fight against climate change?
What is science telling us? What could get us back on track?
05:58 Is climate change attracting enough attention?
Is it being overshadowed by other challenges, like the war in Ukraine or geopolitical fragmentation? How is climate change connected to the economy? And what level of risk are we facing?
10:30 What are planetary boundaries? 
What is the planetary boundaries framework?
14:50 The phases of climate change 
How has global warming evolved over time? Are we heading for disaster? Is the 1.5°C threshold a goal or a limit?
19:15 Why is our economy dependent on climate change? 
Why do climate insights matter to the work of a central bank? How does the ECB take climate change into account? What risks does climate change pose to our primary mandate, price stability? And is it too late for us to take action?
23:03 What is the “right pace” for transitioning to a carbon-neutral economy?
How can we balance the need for rapid change with economic interests ? 
26:15 Does every step matter? 
What’s needed for an orderly transition? What progress has been made in recent years, and what decisions could accelerate it further?
31:55 Our guests’ hot tips
Johan and Irene share their hot tips.

Johan’s  hot tip: The EAT-Lancet Commission on healthy, sustainable, and just food systems (published on 2 October 2025)
https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(25)01201-2/abstract 
TED Talks by Johan Rockström
https://www.youtube.com/watch?v=RgqtrlixYR4 (2010)
https://www.youtube.com/watch?v=Rv-tDrv__mc (2018)
https://www.youtube.com/watch?v=8Sl28fkrozE (2020)
https://www.youtube.com/watch?v=Vl6VhCAeEfQ (2024)
Climate change and the ECB
https://www.ecb.europa.eu/ecb/climate/html/index.en.html
The ECB Podcast: The ECB’s climate and nature plan: our path to a greener future
https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod240125_episode78.en.html
The tipping points of climate change – and where we stand https://www.ted.com/talks/johan_rockstrom_the_tipping_points_of_climate_change_and_where_we_stand?subtitle=en&geo=de
ECB Instagram
https://www.instagram.com/europeancentralbank/ 




Climate at a crossroads: the need to act now

Today our Governing Council decided on monetary policy.
 
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 30 October 2025.

Our monetary policy statement at a glance, 30 October 2025 
https://www.ecb.europa.eu/press/press_conference/visual-mps/2025/html/mopo_statement_explained_october.en.html
 
Christine Lagarde, Luis de Guindos: Monetary policy statement, 30 October 2025 
https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2025/html/ecb.is251030~4f74dde15e.en.html
 
Monetary policy decisions, 30 October 2025 
https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.mp251030~cf0540b5c0.en.html
 
Combined monetary policy decisions and statement, 30 October 2025 
https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/shared/pdf/ecb.ds251030~25d99d5b1c.en.pdf
 
European Central Bank  
https://www.ecb.europa.eu/home/html/index.en.html

President Lagarde presents the latest monetary policy decisions – 30 October 2025

Program na tento týden zahrnuje hlavně výsledky velkých technologických firem, dále zasedání centrálních bank, cla a obchodní jednání. Právě poslední témata se vracejí stále dokola a nyní tu máme období, kdy je americký prezident v této oblasti aktivnější. Po přestřelce s Čínou a uvalení nových sankcí na Rusko má dojít k navýšení amerických cel na kanadské zboží o dodatečných 10 procent. To hlavní se ale děje jinde...

Obsah:
00:00:40 Zlato klesá z rekordů
00:02:07 Výsledky Newmont
00:04:03 Výsledky Intelu
00:05:33 Výsledky Tesly
00:10:05 Výsledky Netflixu
00:11:31 Obchodní jednání USA-Čína
00:15:19 Volby v Argentině
00:17:02 Zasedání Fedu, ECB a BoJ
00:20:39 Výhled na výsledky Alphabet
00:22:46 Výhled na výsledky Microsoftu a Meta Platforms
00:23:47 Výhled na výsledky Applu a Amazonu
00:25:59 Perlička na závěr: Rally na Beyond Meat


Týdenní výhled: Jednání USA – Čína se slibně posouvají, Fed sníží sazby a reportovat bude celý Big Tech

Many Bulgarians are still hesitant about giving up the Lev on 1 January. Mixed feelings are not uncommon in countries adopting the euro. However, as Ferdinand Dreher and Nils Hernborg show, survey data indicates that support significantly increases once people start using the euro in their daily lives. 

The original post was published on 04 November 2025.
www.ecb.europa.eu/press/blog/date/2025/html/ecb.blog20251104~cf577c8f68.en.html

Subscribe to be notified of future posts on The ECB Blog.
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European Central Bank
www.ecb.europa.eu

Love at second sight: support for the euro before and after adoption

Our payment habits are changing. With digital payments on the rise, we need to preserve people’s freedom to choose how to pay: there’s cash, card, online transfers – and soon, we could have a digital euro.  

But what is the digital euro, and how will it work? Will it replace cash? Concerns about data security and government control have sparked debate around the digital euro, often fuelled by disinformation. 

We separate fact from fiction  as our host Stefania Secola teams up with Aidas Palubinskas from EU Finance Podcast to speak to Executive Board member Piero Cipollone about modernising our money. 

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Recorded on 4 November 2025 and published on 13 November 2025.

In this episode:
02:18 The digital what?
What is the digital euro, and how will it work in practice? Don’t we already pay digitally?
13:48 What will happen to cash?
Would introducing the digital euro mean the end of cash? And could it take away business from banks and other financial service providers? 
16:25 How secure would the digital euro be really?
What about hackers? Will our money be safe, and will the digital euro affect the integrity of the payments system?
19:31 Did someone say Big Brother?  
Will central banks, governments and other authorities have access to our data ? How private will our payments really be? 
24:52 When will we have a digital euro?
Where are we in the process and what are the next steps? How are EU institutions like the European Commission and the European Parliament involved in the digital euro project?
29:17 Our guests’ hot tips
Piero Cipollone shares his hot tip.

EU Finance Podcast – the future of finance
https://finance.ec.europa.eu/eu-finance-podcast-future-finance_en

Digital euro 
https://www.ecb.europa.eu/euro/digital_euro/html/index.en.html

President Lagarde explains the next digital euro phase
https://www.instagram.com/reel/DQd60z9jfjV/?igsh=MTV2OW4zNXp5cHJvNA==

The ECB Podcast: The digital euro, demystified https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod231024_episode71.en.html      

Press release: Eurosystem moving to next phase of digital euro project, 30 October 2025
https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.pr251030~8c5b5beef0.en.html 

The ECB Blog: Making euro cash fit for the future https://www.ecb.europa.eu/press/blog/date/2025/html/ecb.blog20250804~9d3993abe0.en.html

Fit of the digital euro in the payment ecosystem https://www.ecb.europa.eu/euro/digital_euro/timeline/profuse/shared/pdf/ecb.deprep251030_digital_euro_fit_payment_ecosystem_report.en.pdf


Like cash, but digital: the facts behind the digital euro

Tento týden patří centrálním bankám. Fed ve středu večer oznámí snížení sazeb o 25 bps, které je už téměř plně započítané v tržních očekáváních, a klíčová bude tedy zejména rétorika k dalšímu vývoji.  Schnabelová z ECB mezitím hovoří o dlouhodobém dnu sazeb. Nejistotu na trh přináší i akvizice Warner Bros Discovery ze strany Netflixu, kterou kritizují kina, konkurence i americký prezident. A na závěr jsme si všimli i startu největší zmrzlinářské firmy světa na burze v Amsterdamu.

Obsah:
00:00:31   Nejistá akvizice Netflixu
00:03:29  Fed ve středu sníží sazby o 25 bps
00:09:48  ECB dosáhla dna sazeb
00:13:26   Magnum vstupuje na burzu

Týdenní výhled: Fed míří ke snížení sazeb, ECB u nich dosáhla dna a Netflix pod tlakem

The ECB Blog offers new insights on the economy and central bank policies based on our data, analysis and research - for the euro area and beyond. For the full texts of our posts, including visuals, please visit our website.

Posts are authored by ECB staff and the audio versions are machine generated. The views expressed are those of the posts' authors and not necessarily those of the European Central Bank and the Eurosystem.

Inspirace pro Vaše investice. Podcasty retailové jedničky mezi brokery Patria Finance, jejíž součástí je respektovaný ekonomický a investiční portál Patria.cz. Zaposlouchejte se do investičních tipů, tržních výhledů, investičního vzdělávání a osvěty nebo rozhovorů se zajímavými osobnosti světa investování i byznysu.

The European Central Bank Podcast – bringing you insights into the world of economics and central banking. 

Our hosts Paul Gordon and Stefania Secola talk to experts about the topics and trends that matter to the eurozone economy today.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

New tracks tagged #ECB