The ECB Podcast

Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% goal in a timely manner. Listen to President Christine Lagarde present today’s decisions. The statement also covers: • how the economy is performing • how we expect prices to develop • the risks to the economic outlook • the dynamics behind financial and monetary conditions Published and recorded during our press conference on 12 December 2024 Our monetary policy statement at a glance, 12 December 2024 https://www.ecb.europa.eu/press/press_conference/visual-mps/2024/html/mopo_statement_explained_december.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement, 12 December 2024 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2024/html/ecb.is241212~ce143b3bc8.en.html Monetary policy decisions, 12 December 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp241212~2acab6e51e.en.html Combined monetary policy decisions and statement, 12 December 2024 chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/shared/pdf/ecb.ds241212~154574b25f.en.pdf Macroeconomic projections, 12 December 2024 https://www.ecb.europa.eu/press/projections/html/ecb.projections202412_eurosystemstaff~71a06224a5.en.html European Central Bank https://www.ecb.europa.eu/home/html/index.en.html You can also listen on all major podcast platforms. #MonetaryPolicy #EuropeanCentralBank #ChristineLagarde #Finance #FinancialConditions #Inflation #EconomicActivity #EconomicOutlook #PressConference #Banking #CentralBanking #Podcast #Economics #EU #Europe #ECB

How worried should Europe be about financial stability at a time of geopolitical and policy uncertainty and rising global trade tensions? As we mark the 20th anniversary of our Financial Stability Review, our host Paul Gordon discusses the risks with expert John Fell in the latest episode of The ECB Podcast. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Published on 25 November 2024 and recorded on 18 November 2024. In this episode: 01:08: How worried about financial stability should we be in Europe? 03:37: The risk profile shift from inflation to growth: can it expose us to other kinds of risk? 06:50: Europe’s growth and productivity concerns: what role does finance play? 11:19: What are the risk findings related to the rise of passive investing in equity markets? 16:23: Twenty years of the ECB’s Financial Stability Review – how effective has it been? 19:47: Guest’s hot tip Financial stability expert John Fell shares his hot tip with our listeners. Further reading: Financial Stability Review, November 2024 https://www.ecb.europa.eu/press/financial-stability-publications/fsr/html/index.en.html The future of European competitiveness: Report by Mario Draghi https://commission.europa.eu/topics/strengthening-european-competitiveness/eu-competitiveness-looking-ahead_en Ray Dalio’s “Principles for Dealing with the Changing World Order” https://www.amazon.de/-/en/Principles-Dealing-Changing-World-Order/dp/1982160276 European Central Bank www.ecb.europa.eu

Climate change and nature loss are affecting all aspects of our lives, including our economies. What is the latest research telling us, and what is the cost to the economy? Stefania Secola talks to Executive Board member Frank Elderson and Deputy Director General and researcher Livio Stracca about how rising physical risks will affect our economies. The views expressed are those of the speakers and not necessarily those of the European Central Bank. This episode was recorded before the tragic floods in Spain. Published on 1 November. In this episode: 01:42 Floods, wildfires and droughtsHow do climate change and nature degradation affect our economies? And how high was the economic loss caused by recent extreme weather events ? 05:52 Catastrophe insuranceWhat is it? How many people have it? And what does it mean for our preparedness if disaster were to strike? 06:57 Adapting to a changing economyIt’s clear that our environment is changing. How can we adapt our activities in the face of these changes? 10:05 The Network for Greening the Financial SystemWhat is it, and what does it do? And what does it have to do with central banks and supervisors? 12:32 How do climate change and nature loss affect our economies?How much higher are the expected losses than we previously thought? What’s the latest scientific research telling us? 14:58 Climate messages during the Conference of the Parties (COP) meetingsWhich topics need more attention? And what can we do about it? 19:19 Our guests’ hot tips Further reading: The impact of climate change and policies on productivity https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op340~0173592e52.en.pdf Policy options to reduce the climate insurance protection gap https://www.ecb.europa.eu/pub/pdf/other/ecb.policyoptions_EIOPA~c0adae58b7.en.pdf Managing climate-related risks https://www.ecb.europa.eu/ecb/climate/managing_mitigating_climatel_risk/html/index.en.html Living in a world of disappearing nature: physical risk and the implications for financial stability https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op333~1b97e436be.en.pdf What to do about Europe’s climate insurance gap https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog.230424~4cdc3a38ba.en.html Failing to plan is planning to fail – why transition planning is essential for banks https://www.bankingsupervision.europa.eu/press/blog/2024/html/ssm.blog240123~5471c5f63e.en.html The climate insurance protection gap https://www.ecb.europa.eu/ecb/climate/climate/html/index.en.html The Network for Greening the Financial System https://www.ngfs.net/en Measuring economic losses caused by climate change https://cepr.org/voxeu/columns/measuring-economic-losses-caused-climate-change “Know thyself” – avoiding policy mistakes in light of the prevailing climate science https://www.bankingsupervision.europa.eu/press/speeches/date/2024/html/ssm.sp240412~c256dc168c.en.html Hothouse Earth by Gill McGuire https://www.google.com/search?safe=active&sca_esv=0d2d5197637c41d9&rlz=1C1GCEA_enDE1060DE1060&q=hothouse+earth+bill+mcguire&udm=3&fbs=AEQNm0Aa4sjWe7Rqy32pFwRj0UkWd8nbOJfsBGGB5IQQO6L3J_86uWOeqwdnV0yaSF-x2jqw-AzvpDFRWNmLZKilfTrfO0pl9dtT9e2t2elzSdzPviJlaPtdkm_zev73LcACj_Zt3WoLu1loKbhUBQ0BvD6_OC9OERnpW26hAPVqw_fTJrjRkQgEJf5SXlzvVj2JhcxyIvER&sa=X&ved=2ahUKEwi2yfiVobGJAxX6_7sIHZckMjAQs6gLegQIExAB&biw=1280&bih=665&dpr=1.5 Climate Change 2023 Synthesis Report https://www.ipcc.ch/report/ar6/syr/downloads/report/IPCC_AR6_SYR_LongerReport.pdf Headline statements of the Synthesis Report https://www.ipcc.ch/report/ar6/syr/resources/spm-headline-statements Climate Change 2023: Synthesis Trailer https://www.youtube.com/watch?v=T9CeECpxtx8 European Central Bank https://www.ecb.europa.eu European Banking Supervision https://www.bankingsupervision.europa.eu/home/html/index.en.html

Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% goal in a timely manner. Listen to President Christine Lagarde present today’s decisions. The statement also covers: • how the economy is performing • how we expect prices to develop • the risks to the economic outlook • the dynamics behind financial and monetary conditions Published and recorded during our press conference on 17 October 2024    Our monetary policy statement at a glance, 17 October 2024 https://www.ecb.europa.eu/press/press_conference/visual-mps/2024/html/mopo_statement_explained_october.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement, 17 October 2024 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2024/html/ecb.is241017~59ad385bab.en.html Monetary policy decisions, 17 October 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp241017~aa366eaf20.en.html Combined monetary policy decisions and statement, 17 October 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp241017~aa366eaf20.en.html European Central Bank https://www.ecb.europa.eu/home/html/index.en.html You can also listen on all major podcast platforms. #MonetaryPolicy #EuropeanCentralBank #ChristineLagarde #Finance #FinancialConditions #Inflation #EconomicActivity #EconomicOutlook #PressConference #Banking #CentralBanking #Podcast #Economics #EU #Europe #ECB