European Central Bank (ECB) Market News

Based in Frankfurt, Germany, the European Central Bank (ECB), sets monetary policy and supervisory regimes for the 19 countries that make up the euro area economy. It is one of seven institutions created by the Treaty on European Union. The ECB's primary mandate is to maintain price stability, defined as a symmetrical target of 2% over the medium-term. Policy is decided every six weeks at a meeting of the ECB Governing Council, comprising national central bank governors from each member state, plus the six-member Executive Board. All 27 members of the European Union are represented at regular meetings of the General Council. Christine Lagarde succeeded Mario Draghi as the ECB's fourth president since it was established in 1998, and it's first female leader. Her eight-year non-renewable term of office began on November 1, 2019.