ECB
The European Central Bank (ECB) is the central bank for the euro and the main monetary authority of the euro area. It was established in 1998 by the Maastricht Treaty and is headquartered in Frankfurt, Germany. It forms the Eurosystem together with the national central banks of euro-area countries, and together they constitute the European System of Central Banks (ESCB). The ECB's primary objective is price stability in the euro area, defined as keeping inflation at a rate sufficiently close to 2 percent over the medium term, while supporting economic growth and employment. It also contributes to financial stability and the smooth operation of payment systems.
Governance: The decision-making bodies are the Executive Board and the Governing Council. The Executive Board comprises
Monetary policy and tools: The ECB sets key interest rates, defines monetary policy, and uses instruments such
Banknotes: The ECB holds the exclusive right to authorize euro banknotes; production is distributed among the
Membership: The euro area comprises 20 EU member states that use the euro as their currency. The