European Central Bank (ECB) Non-monetary Policy Meeting
The European Central Bank's (ECB) Non-Monetary Policy Meeting is held once a month. A report based on decisions taken is published after the meeting.
The European Central Bank regulates financial environment in the eurozone. The ECB administers monetary policy of the eurozone and is responsible for the following:
- Conducting currency transactions
- Managing gold and foreign exchange reserves of the ECB
- Operation of the eurozone's financial market infrastructure
- Issuing sanctions for euro emission (eurozone countries can issue euros, but the exclusive right to determine the emission amount and to issue a permission belongs to the ECB)
- Collecting statistics on the fulfillment of policy by European regulators
- Ensuring stability of the financial system, control over the banking sector
- Some domestic and foreign policy issues related to economics and finance
- Legal regulation and other aspects of the eurozone's financial system regulation, which are not related to monetary policy measures
These questions are discussed during the Non-Monetary Policy Meeting. The meeting is held by the Governing Council, which includes 6 members of the Supervisory Board (including the President) and representatives of National Banks of the eurozone.
Economists monitor this event in the context of the general current political and economic situation. This meeting has a lower impact on quotes than the Interest Rate decision or the Monetary Policy Meeting. However, in some cases, decisions taken during the meeting can indirectly affect euro quotes.