| european central bank | |
noun | |
| the central bank of those members of the European Union who share a common currency; "The European Central Bank is Europe's equivalent of the Federal Reserve" |
European Central Bank - ECB
The central bank responsible for the monetary system of the European Union (EU) and the euro currency. The bank was formed in Germany in Jun 1998 and works with the other national banks of each of the EU members to formulate monetary policy that helps maintain price stability in the European Union.
Investopedia Commentary
The European Central Bank has been responsible for the monetary policy of the European Union since Jan 1, 1999, when the euro currency was adopted by the EU members. The responsibilities of the Central Bank are to formulate monetary policy, conduct foreign exchange, hold currency reserves and authorize the issuance of bank notes, among many other things.
Related Links
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See also: Bank, Bank of Canada - BOC, Central Bank, EUR, Federal Reserve Bank, Inflation, Monetary Policy, Money Supply
Also spelled: euro central bankECB
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