European Central Bank (ECB)

The European Central Bank (ECB) is the central bank for the eurozone, which includes 19 of the 27 European Union countries that use the euro as their currency. Established in 1998, its primary role is to maintain price stability by controlling inflation and safeguarding the value of the euro. The ECB sets interest rates, supervises financial institutions, and conducts monetary policy to support economic growth. It also plays a vital role in ensuring the stability of the banking system and managing foreign reserves for the eurozone. Overall, the ECB aims to foster economic stability across its member states.