Source: European Central Bank (video statements)
The ECB is hosting a fourth online focus session to support e-commerce and mobile commerce merchants in preparing for the call for expression of interest to participate in the digital euro pilot. This session focuses on the objectives of the pilot, the pilot timeline and the process for selecting merchants.
Source: European Central Bank (video statements)
We often hear that Europe is falling behind. But is it really that simple?
Nobel Prize winner Paul Krugman argues that the situation is more nuanced. In the latest episode of Euro Matters, he talks to host Stefania Secola about Europe’s competitiveness, innovation, fragmentation, and our place in a changing global economy.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Recorded on 16 September and published on 6 October 2026.
ECB Instagram
https://www.instagram.com/europeancentralbank/?hl=en
Paul Krugman’s blog on substack
https://paulkrugman.substack.com/
Paul Krugman’s speech at the ECB Annual research conference
Euro Matters on Spotify
open.spotify.com/show/1E7EirKc3SF…5a33d7abb83a427e
Euro Matters on Apple Podcasts
podcasts.apple.com/de/podcast/euro…st/id1481819425
Source: European Central Bank (video statements)
“ECB Conference on Monetary Policy 2026: bridging science and practice” , Monday, 5 and Tuesday, 6 October 2026, Frankfurt am Main (Hybrid event).
The 9th Conference on Monetary Policy features once more an impressive academic line-up and is held as a hybrid event. The three conference sessions tackles issues related to monetary policy, including the role of financial markets and financial intermediaries in monetary policy transmission, and with relation to the current situation of elevated economic and geopolitical uncertainty. A special session showcases monetary policy related research by young economists.
See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20261005_monetary_policy_conf.en.html
09:00-10:30
Session 3
Monetary policy and financial markets
Chair: Simone Manganelli, European Central Bank
09:00-09:45
Interest Rate Surprises When the Fed Doesn’t Speak
Silvia Miranda-Agrippino*, Oxford University
Co-Author: John C. Williams
Discussant: Peter Karadi, European Central Bank
09:45-10:30
Kalshi and the Rise of Macro Markets
Jonathan Wright*, Johns Hopkins University
Co-Authors: Anthony M. Diercks, Jared Dean Katz
Discussant: Christian Brownlees, Universitat Pompeu Fabra
10:45-11:45
Session 4
Young Economists
Chair: Luc Laeven, European Central Bank
10:45-11:05
The Effect of QE and Regulation on the Structure of the Financial System
Ciaran Rogers, HEC Paris
11:05-11:25
Reading Between the Lines: Uncovering Inflation Expectations from Multilingual Media Coverage
Alexandra Piller, Study Center Gerzensee Foundation of the Swiss National Bank
11:25-11:45
Look-Through or Look Closer? Energy Shocks and Underlying Inflation in the Euro Area
Rosi Chankova, Bank of England
12:00–13:00
Keynote speech: Prompted to Start: How Generative AI is Transforming Entrepreneurship
Mariassunta Giannetti, Stockholm School of Economics; CEPR; ECGI; Swedish House of Finance
Chair: Roland Straub, European Central Bank
13:00-13:05
Closing remarks
Roland Straub, European Central Bank
Source: European Central Bank (video statements)
“ECB Conference on Monetary Policy 2026: bridging science and practice”, Monday, 5 and Tuesday, 6 October 2026, Frankfurt am Main (Hybrid event).
The 9th Conference on Monetary Policy features once more an impressive academic line-up and is held as a hybrid event. The three conference sessions tackles issues related to monetary policy, including the role of financial markets and financial intermediaries in monetary policy transmission, and with relation to the current situation of elevated economic and geopolitical uncertainty. A special session showcases monetary policy related research by young economists.
See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20261005_monetary_policy_conf.en.html
10:00-11:00
Keynote speech: Diagnostic challenges for monetary policy
Philip R. Lane, Member of the Executive Board of the European Central Bank
11:30-13:00
Session 1
Monetary policy and inflation
Chair: Sujit Kapadia, European Central Bank
11:30-12:15
Productivity and Inflation Dynamics
Jenny Chan*, Bank of England
Co-Authors: Silvana Terneyro, Ludovica Ambrosino
Discussant: Evi Pappa, Universidad Carlos III de Madrid
12:15-13:00
Risks and Uncertainty in Monetary Policy
Domenico Giannone*, Johns Hopkins University
Discussant: Juan Rubio-Ramírez, Emory University
14:30-16:00
Session 2
Monetary policy, credit and banking
Chair: Carlo Altavilla, European Central Bank
14:30-15:15
Dynamic Competition for Sleepy Deposits
Adi Sunderam*, Harvard Business School
Co-Authors: Mark Egan, Ali Hortacsu, Nathan Kaplan, and Vincent Yao
Discussant: Simone Lenzu, Cambridge University
15:15-16:00
Bank Runs with and without Failure
Stephan Luck*, Federal Reserve Bank of New York
Co-Authors: Sergio Correia, Emil Verner
Discussant: Elena Carletti, Bocconi University
16:30-17:30
Keynote speech:
Valery Ramey, Stanford University
Chair: Roberto Motto, European Central Bank
17:30
Closing remarks and end of day 1
Source: European Central Bank (video statements)
A lot has changed on our Instagram since 2018. The photos are sharper, the videos smoother and the social media trends more on point 😉. But one thing has remained constant: we can’t stop talking about our favourite currency 💶
Source: European Central Bank (video statements)
To celebrate, we’re revisiting the initial steps of Germany’s membership of the euro area, set to the sound of a certified banger 💶💃
#Euro #Europe #ECB
Source: European Central Bank (video statements)
“ESRB@15: may you stay forever young”.
Tenth annual conference of the European Systemic Risk Board, Thursday, 1 and Friday, 2 October 2026, Frankfurt am Main. Physical event (by invitation only) with livestream.
See the conference programme here:
https://www.esrb.europa.eu/news/schedule/html/261001_10th_annual_conference.en.html
– Keynote speech
Olli Rehn, Governor Bank of Finland, ESRB First Vice Chair, will deliver a keynote speech.
– Response by Jeromin Zettelmeyer, Director, Bruegel
– Panel discussion: Don’t look back in anger: how the EU financial system has changed in the last fifteen years and how to continue to develop its resilience for the future
The EU financial system faced severe strain and lacked sufficient resilience to the global financial crisis, which led to an ambitious global regulatory reform. This panel will explore the key lessons learned and how to ensure that the EU financial system continues to be resilient to emerging challenges.
Chair: Olaf Sleijpen, President of De Nederlandsche Bank and Chair of the ESRB Advisory Technical Committee
Panellists:
• Gabriel Bernardino, Chair, Insurance and Pension Funds Supervisory Authority, Portugal
• Andrea Enria, Former Chair of the ECB’s Supervisory Board and of the European Banking Authority
• Stefan Ingves, Former Governor of Sveriges Riksbank, Chairman, Toronto Centre and Senior Fellow, Swedish House of Finance
• Verena Ross, Chair, European Securities and Markets Authority
– Q&A
– Winner of the 2026 Edition of the Ieke van den Burg prize
The ESRB’s Advisory Scientific Committee awards the Ieke van den Burg prize to recognise outstanding research conducted by young scholars on a topic related to the ESRB’s mission. Xu Lu (University of Washington) and Lingxuan Wu (NYU Stern, New York University) will present their award-winning paper entitled “Banking on Inattention” which has been selected as the winner of the 2026 edition of the prize.
Chair: Loriana Pelizzon, Chair of ESRB Advisory Scientific Committee, Deputy Director at SAFE, and Professor at Goethe University Frankfurt
– Keynote speech
Boris Vujčić, Vice President of the European Central Bank, will deliver a keynote speech.
– Response by Stephen Cecchetti, Vice-Chair of ESRB Advisory Scientific Committee and Rosen Family Chair in International Finance, Brandeis International Business School
– Panel discussion: ¿Qué será, será? The financial system in the next fifteen years
The EU financial system is challenged by a range of new vulnerabilities and emerging threats, many of which originate outside traditional financial intermediation activities. This panel will explore how these structural shifts could transform the financial system and consider its possible evolution over the next fifteen years.
Chair: Thorsten Beck, Vice-Chair of the ESRB Advisory Scientific Committee, and Director and Professor at European University Institute
Panellists:
• Ulrich Bindseil, Professor, Frankfurt School of Finance and Management
• Claudia Buch, Chair, Single Supervisory Mechanism
• Antonio Gomes, Deputy Director of the OECD Directorate for Financial and Enterprise Affairs (DAF)
• Richard Portes, Member of the ESRB Advisory Scientific Committee and Professor at London Business School
– Q&A
– Closing remarks by Francesco Mazzaferro, Head of the ESRB Secretariat
Source: European Central Bank (video statements)
Meet Ville Tietäväinen, the designers of one of the 10 design proposals for the future euro banknotes and find out more about this design proposal on our website: https://www.ecb.europa.eu/euro/banknotes/future_banknotes/html/design-proposals.en.html
Source: European Central Bank (video statements)
Panel 4
Liquidity in resolution: institutional coordination under stress
In January 2026, the ECB announced amendments to its counterparty framework to address access to Eurosystem monetary policy operations for entities subject to a resolution scheme. This marks a significant development in the ECB’s approach to liquidity provision following resolution by addressing the so-called ‘Monday morning problem’. Under the updated framework, access to monetary policy operations will be reinstated for financially sound banks subject to an open bank resolution strategy, provided certain conditions are met. This amendment lifts the automatic limitation previously applied and helps reinstate banks coming out of resolution as monetary policy counterparties. Effective implementation of this framework will require swift and coordinated actions involving the ECB (both SSM and the central banking side), the Single Resolution Board the European Commission, and potentially the ESM, and Member States. The ECB’s role in the provision of liquidity and the supervision of the incumbent bank, the role of Single Resolution Board and of the European Commission in ensuring swift and perennial resolution in compliance with state aid rules, and potentially the role of ESM, and Member States in providing a guarantee will be assessed by the panel.
Chair: Piero Cipollone, Member of the Executive Board, European Central Bank
Panellists:
Seraina Grunewald, Professor, University of St. Gallen
Karl Philipp Wojcik, Senior Adviser to the Executive Vice-President, European Commission
David Ramos Muñoz, Professor, Carlos III University of Madrid
Source: European Central Bank (video statements)
“ESRB@15: may you stay forever young”.
Tenth annual conference of the European Systemic Risk Board, Thursday, 1 and Friday, 2 October 2026, Frankfurt am Main. Physical event (by invitation only) with livestream.
See the conference programme here:
https://www.esrb.europa.eu/news/schedule/html/261001_10th_annual_conference.en.html
15:30
Welcome address
Christine Lagarde, in her capacity as Chair of the European Systemic Risk Board (ESRB), will open the conference with a welcome address.
15:45
Panel discussion: Us in the mirror: How to ensure that the EU financial system contributes to a strong EU?
The EU is currently confronted with a challenging macroeconomic environment, coupled with a complex geopolitical landscape. This highlights the need for a financial system that effectively contributes to a strong EU. This panel will discuss how to achieve this.
Chair: Christine Lagarde, Chair of the European Systemic Risk Board and President of the European Central Bank
Special speakers:
• Klaas Knot, Former President, De Nederlandsche Bank
• Stefan Ingves, Former Governor of Sveriges Riksbank, Chairman, Toronto Centre and Senior Fellow, Swedish House of Finance
16:45
Keynote speech
Hélène Rey, Economic Adviser and Head of the Monetary and Economic Department, Bank for International Settlements, will deliver a keynote speech.
17:15
Response by Luc Laeven, Director General Research, European Central Bank
