Category: European Central Bank (video statements)

Source: European Central Bank (video statements)

Today our Governing Council decided on monetary policy.

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 18 December 2025.

Our monetary policy statement at a glance, 18 December 2025
https://www.ecb.europa.eu/press/press_conference/visual-mps/2025/html/mopo_statement_explained_december.en.html

Christine Lagarde, Luis de Guindos: Monetary policy statement, 18 December 2025
https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2025/html/ecb.is251218~3a10402adb.en.html

Monetary policy decisions, 18 December 2025
https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.mp251218~58b0e415a6.en.html

Combined monetary policy decisions and statement, 18 December 2025
https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/shared/pdf/ecb.ds251218~f264376788.en.pdf

Macroeconomic projections, 18 December 2025
https://www.ecb.europa.eu/press/projections/html/index.en.html

European Central Bank
https://www.ecb.europa.eu/home/html/index.en.html

https://www.youtube.com/watch?v=tQGrQqmwsSk

Source: European Central Bank (video statements)

ECB President Christine Lagarde explains the Governing Council’s monetary policy decisions and will answer questions from journalists at the Governing Council press conference to be held on Thursday, 18 December 2025 at 14:45 CEST in Frankfurt am Main.

https://www.youtube.com/watch?v=Uws62IbmpHU

Source: European Central Bank (video statements)

📷 by ECB

#EuropeanCentralBank #EvrotoBG #EuroInBulgaria #Euro #ECB

https://www.youtube.com/shorts/Zq7CXOgA1qQ

Source: European Central Bank (video statements)

https://www.youtube.com/watch?v=DbIyXBmqHRE

Source: European Central Bank (video statements)

Session 4 on geopolitical tensions and fiscal implications of war on the second day of the Fiscal Policy and Economic and Monetary Union (EMU) Governance conference. The conference is co-organised by the ECB and Fiscal Affairs Department of the IMF.

Chair: Era Dabla-Norris, International Monetary Fund

The price of war
Jonathan Federle, Kiel Institute for the World Economy, together with André Meier, Gernot Müller, Moritz Schularick
Discussant: João Monteiro, Einaudi Institute for Economics and Finance

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkp656i2hu_0dlpMBaQfGh0

Conference programme:
https://www.ecb.europa.eu/press/conferences/html/20251031_fiscal_policy_conference.en.html

https://www.youtube.com/watch?v=zax1kckStyc

Source: European Central Bank (video statements)

Session 4 on geopolitical tensions and fiscal implications of war on the second day of the Fiscal Policy and Economic and Monetary Union (EMU) Governance conference. The conference is co-organised by the ECB and Fiscal Affairs Department of the IMF.

Chair: Era Dabla-Norris, International Monetary Fund

The offensive power of defense news in Europe
Evi Pappa, University Carlos III of Madrid, together with Nadav Ben Zeev and Elena Scola Gagliardi
Discussant: Ethan Ilzetzki, London School of Economics

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkp656i2hu_0dlpMBaQfGh0

Conference programme:
https://www.ecb.europa.eu/press/conferences/html/20251031_fiscal_policy_conference.en.html

https://www.youtube.com/watch?v=Tjan3iuNmBI

Source: European Central Bank (video statements)

Closing remarks by Era Dabla-Norris, International Monetary Fund, at the Fiscal Policy and Economic and Monetary Union (EMU) Governance conference. The conference is co-organised by the ECB and Fiscal Affairs Department of the IMF.

The conference took place on 04 and 05 December 2025.
Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkp656i2hu_0dlpMBaQfGh0

Conference programme:
https://www.ecb.europa.eu/press/conferences/html/20251031_fiscal_policy_conference.en.html

https://www.youtube.com/watch?v=LiXdhQ8eGqc

Source: European Central Bank (video statements)

Session 3 on perceptions of public debt and fiscal narratives on the second day of the Fiscal Policy and Economic and Monetary Union (EMU) Governance conference. The conference is co-organised by the ECB and Fiscal Affairs Department of the IMF.

Session chair: Oreste Tristani, European Central Bank

Perceptions of public debt and policy expectations: evidence from cross-country surveys
Francesco Bianchi, Johns Hopkins University, together with Era Dabla-Norris and Salma Khalid
Discussant: Eric Mengus, HEC Paris

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkp656i2hu_0dlpMBaQfGh0

Conference programme:
https://www.ecb.europa.eu/press/conferences/html/20251031_fiscal_policy_conference.en.html

https://www.youtube.com/watch?v=UJ9eAmrf_JA

Source: European Central Bank (video statements)

Session 3 on perceptions of public debt and fiscal narratives on the second day of the Fiscal Policy and Economic and Monetary Union (EMU) Governance conference. The conference is co-organised by the ECB and Fiscal Affairs Department of the IMF.

Session chair: Oreste Tristani, European Central Bank

Inspecting the macroeconomic effects of fiscal policies in the EU through a new dataset of narrative measures
Roberto Perotti, Bocconi University, together with Mario Alloza, Francesco Berardini, Jacopo Cimadomo, Niamh Dunne, Jan Kuckuck and Luca Sala
Discussant: Massimo Giuliodori, University of Amsterdam

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkp656i2hu_0dlpMBaQfGh0

Conference programme:
https://www.ecb.europa.eu/press/conferences/html/20251031_fiscal_policy_conference.en.html

https://www.youtube.com/watch?v=1R1TNgpNupo

Source: European Central Bank (video statements)

Session 1 on fiscal stagnation and sovereign risk on the first day of the Fiscal Policy and Economic and Monetary Union (EMU) Governance conference. The conference is co-organised by the ECB and Fiscal Affairs Department of the IMF.
Session chair: Oscar Arce, European Central Bank

Sovereign default and the decline in interest rates
Jessica Wachter, University of Pennsylvania, together with Max Miller and James Paron
Discussant: Eugenia Gonzalez-Aguado, Toulouse School of Economics

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkp656i2hu_0dlpMBaQfGh0

Conference programme:
https://www.ecb.europa.eu/press/conferences/html/20251031_fiscal_policy_conference.en.html

https://www.youtube.com/watch?v=tN11ivC2fF4