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Monetary policy

The euro sign in Frankfurt am Main
Monetary policy

Stable money is a precious public good. It protects savers and income earners from the erosion of wealth while promoting growth and employment. The primary objective of monetary policy in the euro area is therefore to ensure price stability. The President of the Bundesbank is involved in making monetary policy decisions as a member of the Governing Council of the European Central Bank. The Bundesbank is charged with implementing these decisions in Germany.

Economics publications
Pile of publications

Discussion Papers, Monthly Reports, Annual Reports, and many other publications can be found in the list of all publications.

Main refinancing operations
An employee in front of monitors in the trading room

The main refinancing operations, with a weekly frequency and a maturity of one week, are the most important monetary policy instrument used by the Eurosystem for money market management.

Tender calendar and system
Several loose calendar sheets

The main and longer-term refinancing operations are conducted in accordance with an indicative calendar published by the Eurosystem.

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