Definition

1. Proper noun:
   • The central bank for the eurozone: The European Central Bank is the central monetary authority responsible for the euro currency and the monetary policy of the euro area, which consists of those member states of the European Union that have adopted the euro.

Usage Examples

• Proper noun:
  • The European Central Bank announced a change to its interest rates today.
  • Financial markets closely watch the decisions made by the European Central Bank.
  • The primary objective of the European Central Bank is to maintain price stability in the euro area.

Advanced Usage

• "ECB": This is the common acronym for the European Central Bank, frequently used in financial news and reports.
  • The ECB will hold its governing council meeting next Thursday.

Variants and Related Words

• Eurosystem: The monetary authority of the eurozone, comprising the European Central Bank and the national central banks of the euro area countries. The ECB is the core institution of the Eurosystem.
• Governing Council: The main decision-making body of the European Central Bank.

Synonyms

• Central bank for the euro: A descriptive synonym highlighting its geographic and currency jurisdiction.
• Eurozone's monetary authority: A phrase describing its primary function within the specific economic region.

Related Terms and Phrases

• Monetary policy: The policy concerning the money supply and interest rates, which is a primary function of the European Central Bank.
  • The European Central Bank sets monetary policy for the entire eurozone.
• Price stability: The primary statutory objective of the European Central Bank, often defined as keeping inflation below, but close to, 2% over the medium term.

Noun

1. the central bank of those members of the European Union who share a common currency
   • The European Central Bank is Europe's equivalent of the Federal Reserve