The European Central Bank (ECB) is an independent central bank responsible for managing the Eurozone's monetary policy and price stability. The aim of the ECB is to support economic growth by keeping inflation in the Eurozone at a low and stable level. The main task of the ECB is to ensure price stability. However, the ECB's policy decisions also take into account other macroeconomic objectives, such as economic growth, employment, and financial stability. The ECB has set its inflation target at around 2%. The ECB's monetary policy tool is interest rates. By setting the policy rate, the ECB influences the money supply and financial conditions in the market. By setting interest rates, the ECB aims to ensure price stability and promote economic growth. The ECB's decision-making body is the Monetary Policy Committee. This committee determines and implements the monetary policy of the euro area. The Committee analyzes economic data, evaluates the inflation outlook, and determines appropriate policy steps. The resolutions cover all countries in the euro area and are intended to act together. The independence of the ECB is protected against political or external interference that influences policy decisions. This independence enables the ECB to effectively achieve price stability and gain credibility. One of the other important tasks of the ECB is to supervise the Eurozone's banking system and ensure financial stability. The ECB monitors the health of banks, conducts stress tests and takes action as needed. This aims to support economic stability by maintaining financial stability. The independence of the ECB is protected against political or external interference that influences policy decisions. This independence enables the ECB to effectively achieve price stability and gain credibility. One of the other important tasks of the ECB is to supervise the Eurozone's banking system and ensure financial stability. The ECB monitors the health of banks, conducts stress tests and takes action as needed. This aims to support economic stability by maintaining financial stability. Economic policy practitioners in economies have set economic stability and sustainable economic growth as the main goal. In order to achieve these goals, monetary and fiscal policies need to be implemented in a coordinated manner. Central banks stand out as actors that implement monetary policy. Today, the biggest problem of economies is price stability. To ensure price stability, central banks implement monetary policy, which is supported by fiscal policy programs set by governments.
The European Union represents an important integration movement in world history. In this integration process, economic integration plays an important role. The member states of the European Union have delegated their sovereign powers in some areas to the authorized bodies of the Union. One of these bodies is the European Central Bank. The European Central Bank and the European System of Central Banks operate under the rules of law established by the powers delegated by the member states.
European Union, European Central Bank.