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ECB (European Central Bank)

In short

The central bank of the euro area. It sets monetary policy, which affects interest rates.

The ECB runs monetary policy for the countries that use the euro, Greece included. Its target is 2% inflation over the medium term.

Its interest-rate decisions affect the cost of borrowing in the euro area. That is why people with a variable-rate loan follow them.

The ECB publishes euro reference exchange rates daily. They are for information only: when you pay by card in another currency, your bank charges its own rate, so compare it with the ECB rate.

Official source: European Central Bank

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