Connect with us

Politics

Monetary policy decisions

Published

on

monetary-policy-decisions

17 April 2025

The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. In particular, the decision to lower the deposit facility rate – the rate through which the Governing Council steers the monetary policy stance – is based on its updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission.

The disinflation process is well on track. Inflation has continued to develop as staff expected, with both headline and core inflation declining in March. Services inflation has also eased markedly over recent months. Most measures of underlying inflation suggest that inflation will settle at around the Governing Council’s 2% medium-term target on a sustained basis. Wage growth is moderating, and profits are partially buffering the impact of still elevated wage growth on inflation. The euro area economy has been building up some resilience against global shocks, but the outlook for growth has deteriorated owing to rising trade tensions. Increased uncertainty is likely to reduce confidence among households and firms, and the adverse and volatile market response to the trade tensions is likely to have a tightening impact on financing conditions. These factors may further weigh on the economic outlook for the euro area.

The Governing Council is determined to ensure that inflation stabilises sustainably at its 2% medium-term target. Especially in current conditions of exceptional uncertainty, it will follow a data-dependent and meeting-by-meeting approach to determining the appropriate monetary policy stance. In particular, the Governing Council’s interest rate decisions will be based on its assessment of the inflation outlook in light of the incoming economic and financial data, the dynamics of underlying inflation and the strength of monetary policy transmission. The Governing Council is not pre-committing to a particular rate path.

Key ECB interest rates

The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. Accordingly, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be decreased to 2.25%, 2.40% and 2.65% respectively, with effect from 23 April 2025.

Asset purchase programme (APP) and pandemic emergency purchase programme (PEPP)

The APP and PEPP portfolios are declining at a measured and predictable pace, as the Eurosystem no longer reinvests the principal payments from maturing securities.

***

The Governing Council stands ready to adjust all of its instruments within its mandate to ensure that inflation stabilises sustainably at its 2% target over the medium term and to preserve the smooth functioning of monetary policy transmission. Moreover, the Transmission Protection Instrument is available to counter unwarranted, disorderly market dynamics that pose a serious threat to the transmission of monetary policy across all euro area countries, thus allowing the Governing Council to more effectively deliver on its price stability mandate.

The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 14:45 CET today.

Source link

Author

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Politics

Odesa Oblast improves emergency services with safety centre expansion, thanks to EU bank support

Published

on

EIB
  • A new building has opened at the Citizen Safety Centre in Avangard, Odesa Oblast, expanding emergency services for over 36 000 residents in the settlement and neighbouring communities.
  • Equipped to handle wartime challenges, the new facility will strengthen rescue operations, allow for on-site staff training, and provide shelter for civilians and emergency teams during air raids.
  • The facility’s construction was supported through the Ukraine Early Recovery Programme, which helps rebuild essential social infrastructure in Ukrainian communities.

A second building has been added to the Citizen Safety Centre in Avangard, Odesa Oblast, increasing the emergency response capacity in a region regularly targeted by Russian shelling and located on key transport routes. The centre plays a vital role in firefighting, emergency response and public awareness – not only for Avangard, but for other nearby communities as well. Supported by the European Union and its financial arm, the European Investment Bank (EIB), this new building significantly increases the centre’s ability to respond to emergencies and support local residents.

The new building will improve emergency response times by enabling faster deployment of rescue teams and equipment, thanks to indoor storage, better administrative space and increased operational capacity. It will also be a safe shelter for staff and residents during air raids, and offer social support services, including basic humanitarian assistance and information for internally displaced persons. The building features modern training facilities to support the skills development and operational readiness of emergency personnel.

The expansion project has a total investment value of €484 000, and comes under the Ukraine Early Recovery Programme, a joint initiative of the European Union and its bank, EIB. The programme is being implemented in partnership with Ukraine’s Ministry for Development of Communities and Territories and Ministry of Finance, Odesa Oblast Military Administration and Avangard Village Council, with technical assistance from the United Nations Development Programme (UNDP) in Ukraine.

In Odesa Oblast alone, 28 projects under EIB-backed recovery programmes are ongoing or complete, with a total investment value of €48.7 million. These include the reconstruction of 15 educational institutions, seven medical facilities, three administrative buildings, two sewage treatment facilities and a heating plant – all of which will improve services and lead to better quality of life for local residents and displaced communities.

EIB Vice-President Teresa Czerwińska, who is responsible for the Bank’s operations in Ukraine, said, “This new facility at the Citizen Safety Centre in Avangard is a meaningful investment in the safety and resilience of Odesa Oblast. Supporting infrastructure like this is exactly what the EIB, as the bank of the European Union, is here for: to help Ukrainian communities stay strong, respond quickly and move forward with recovery.”

Chargé d’affaires a.i. of the EU Delegation to Ukraine Rémi Duflot said, “Today’s opening of the expanded and refurbished Citizen Safety Centre in Avangard marks an important step towards strengthening local resilience and emergency response services in Odesa Oblast. Together with the EIB, we are continuing to restore essential social infrastructure across Ukraine to help communities recover in the face of Russia’s brutal aggression.”

Deputy Prime Minister for Restoration of Ukraine Minister for Development of Communities and Territories of Ukraine Oleksii Kuleba said, “Each new facility opened under the EIB’s recovery programmes, like today’s Citizen Safety Centre in Avangard, makes our communities stronger, more prepared and better equipped with modern solutions. Thanks to EU support, we are not only responding to today’s challenges, but also building the foundations for the longer-term recovery, development and resilience of Ukraine.”

Head of the Odesa Oblast Military Administration Oleh Kiper said, “The expansion of the Citizen Safety Centre in Avangard is part of a broader effort to strengthen essential services and improve the daily lives of people across Odesa Oblast. With support from the EU and the EIB, 28 recovery projects are already making a real difference – from schools and hospitals to heating and water infrastructure. These investments help our communities stay resilient and move forward despite the war.”

Head of Avangard Village Council Serhii Khrustovskyy said, “This centre stands for protection and rapid response – exactly what Odesa Oblast needs under the constant threat. I’m proud that the Avangard community is setting an example of how, with the right support, local leadership can deliver real impact.”

UNDP Resident Representative in Ukraine Jaco Cilliers said, “Ukraine’s recovery is already underway, and we at UNDP are proud to support it through the EIB’s recovery programmes. Together, we are delivering tangible results to communities like Avangard, which can now better serve and support their residents – even under the most challenging conditions.”

Background information

The EIB in Ukraine

The EIB Group has supported Ukraine’s resilience, economy and recovery efforts since the first days of Russia’s full-scale invasion, with €2.2 billion already disbursed since 2022. The Bank continues to focus on securing Ukraine’s energy supply, restoring damaged infrastructure and maintaining essential public services across the country. Under a guarantee agreement signed with the European Commission, the EIB is set to invest at least €2 billion more in urgent recovery and reconstruction. This funding is part of the European Union’s €50 billion Ukraine Facility for 2024-2027 and is fully aligned with the priorities of the Ukrainian government.

EIB recovery programmes in Ukraine

Construction of the second building of the Citizen Safety Centre in Avangard, Odesa Oblast was carried out under the Ukraine Early Recovery Programme, a €200 million multisectoral framework loan from the EIB. The Bank finances three recovery programmes in all, totalling €640 million, which are provided as framework loans to the government of Ukraine. Through these programmes, Ukrainian communities gain access to financial resources to restore essential social infrastructure, including schools, kindergartens, hospitals, housing, and heating and water systems. These EIB-backed programmes are further supported by €15 million in EU grants to facilitate implementation. The Ministry for Development of Communities and Territories of Ukraine, in cooperation with the Ministry of Finance, coordinates and oversees the programme implementation, while local government bodies are responsible for managing recovery sub-projects. The UNDP in Ukraine provides technical assistance to local communities, supporting project implementation and ensuring independent monitoring for transparency and accountability. More information about these programmes is available here.

Author

Continue Reading

Politics

ESAs publish Joint Annual Report for 2024

Published

on

esas-publish-joint-annual-report-for-2024

DISCLAIMER: Information and opinions reproduced in the articles are the ones of those stating them and it is their own responsibility. Publication in The European Times does not automatically means endorsement of the view, but the right to express it.

DISCLAIMER TRANSLATIONS: All articles in this site are published in English. The translated versions are done through an automated process known as neural translations. If in doubt, always refer to the original article. Thank you for understanding.

Newsdesk

– Advertisement –spot_img

– Advertisement –

The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) today published its 2024 Annual Report, which provides an overview of the joint ESAs work completed during the past year.

The ESAs continued to explore and monitor potential emerging risks for financial markets participants and the financial system.

The main areas of cross-sectoral focus in 2024 were joint risk assessments, sustainable finance, operational risk and digital resilience, consumer protection, financial innovation, securitisation, financial conglomerates and the European Single Access Point (ESAP). Among the Joint Committee’s main deliverables were policy products for the implementation of the Digital Operational Resilience Act (DORA) as well as ongoing work related to the Sustainable Finance Disclosure Regulation (SFDR).

Background

In 2024, ESMA chaired the Joint Committee with all three ESAs coordinating discussions and the exchange of information across their institutions, the European Commission and the European Systemic Risk Board (ESRB).

The Joint Committee is a forum with the objective of strengthening cooperation between the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA), collectively known as the three European Supervisory Authorities (ESAs).Through the Joint Committee, the three ESAs coordinate their supervisory activities in the scope of their respective responsibilities regularly and closely and ensure consistency in their practices.

Source link

More from the author

– EXCLUSIVE CONTENT –spot_img

Author

Continue Reading

Politics

New European Bauhaus Enters Next Phase with EIT Support and Published Roadmap

Published

on

new-european-bauhaus-enters-next-phase-with-eit-support-and-published-roadmap

The European Institute of Innovation and Technology (EIT) continues to support the New European Bauhaus (NEB) as a flagship European Commission initiative for sustainable, inclusive, and aesthetic innovation.

Through its dynamic Community NEB, the EIT supports projects that integrate art, design, science, and innovation to tackle real-world societal challenges. The recently published NEB Facility roadmap for 2025–2027 underscores this commitment, detailing new funding streams and policy tools supported by Horizon Europe and other EU programmes.

A Structured Innovation Journey Rooted in Community

Established in January 2021, the EIT Community NEB – uniting EIT Urban Mobility, Climate-KIC, EIT Food, and EIT Manufacturing—has developed a structured journey where citizens, grassroots initiatives, startups or larger innovation projects can engage with and scale up solutions aligned with NEB values.

In 2024, the EIT Community NEB launched six calls for participation that attracted 379 applications from 22 countries. These efforts culminated in events in Barcelona and Brussels, fostering collaboration and showcasing innovative projects.

The EIT aims to steer the entrepreneurial ecosystem towards transformative solutions through dedicated events and supports business ideas via prototyping and testing programmes. Additionally, the EIT wants to increase citizen engagement by inviting communities to collaborate in redesigning their local environments, thereby integrating NEB principles into everyday life.

Building Capacity and Embedding Change

In 2025, the EIT Community NEB will focus on expanding engagement, refining programme portfolios, and amplifying communication impact. With activities like Ignite NEB and Grow NEB nurturing early-stage ideas, and Catalyse NEB accelerating startups, the initiative continues to drive innovation at local and European levels. Notably, 20 NEB-aligned start-ups will receive targeted financial and acceleration support to strengthen their market presence and impact. In this context, three startups—Nest, Biosphere Solar, and ToGather Homes—were selected by the Joint Research Centre (JRC) to present NEB innovation at the Osaka World Expo on 14 April, showcasing European sustainability leadership on the global stage.

The EIT Community is also scaling educational and capacity-building efforts through the planned NEB Academy, which aims to upskill professionals across the construction and design sectors with a focus on sustainable urban transformation. In parallel, the NEB Lighthouses initiative continues to support the long-term sustainability of 26 flagship projects. As implementation of the New European Bauhaus initiative enters a new phase, the EIT is set to play a pivotal role in ensuring that its values are not only promoted but embedded in local policies and everyday spaces across Europe.

More information on EIT Community NEB

Source link

Author

Continue Reading

Trending

Copyright © 2023 EuroTimes