At today’s meeting the Governing Council of the ECB decided that the interest rate on the deposit facility will be decreased by 10 basis points to -0.30%, with effect from 9 December 2015. The interest rate on the main refinancing operations and the interest rate on the marginal lending facility will remain unchanged at 0.05% and 0.30% respectively. Introductory statement to the press conference by Mario Draghi Key ECB interest rates More information on monetary policy Compliments of the European Central Bank

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On 2 December 2015, the Permanent Representatives Committee approved an agreement reached with the European Parliament for the re-establishment and re-organisation of the existing EURES network. The new EURES is strengthened and modernized. Its portal becomes an up-to-date mobility tool using the latest IT technologies, accessible for all. “This new regulation on the re-establishment of EURES emphasizes the importance that we all put in one of the fundamental freedoms of Union citizens, the free movement of workers. It offers new job...

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The heads of the world’s largest development banks pledged today to work together to substantially increase climate investments and ensure that development programs going forward consider climate risks and opportunities. In a joint statement released at the 21st Conference of the Parties of the UN Framework Convention on Climate Change (UNFCCC), the African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB), and the World Bank Group (WBG)...

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On 2 December 2015, the Permanent Representatives Committee (Coreper) approved, on behalf of the Council, a negotiating stance on proposals aimed at facilitating the development of a securitisation market in Europe.  The agreement, brokered by the Luxembourg presidency, comes just nine weeks after the Commission made its proposal. It will enable the incoming presidency to start talks with the European Parliament as soon as possible in 2016. “These proposals aim to relaunch the securitisation market, by promoting simple, transparent and standardised securitisations. The objective is to contribute to the financing...

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The climate is changing, as it has periodically over the millennia. But in the 21st century and the latter part of the 20th century, human activities— particularly the combustion of fossil fuels—are primarily responsible for the carbon dioxide and other greenhouse gas (GHG) emissions that are accelerating the rate of climate change, heating the earth’s surface and atmosphere sufficiently totrigger potentially catastrophic consequences for the planet and its populations. Unless global emissions are reduced by at least half of the 1990 levels by 2050, a temperature rise of 2° C (3.6°...

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The euro area (EA19) seasonally-adjusted unemployment rate was 10.7% in October 2015, down from 10.8% in September 2015, and from 11.5% in October 2014. This is the lowest rate recorded in the euro area since January 2012. The EU28 unemployment rate was 9.3% in October 2015, stable compared to September 2015, and down from 10.1% in October 2014. This is the lowest rate recorded in the EU28 since September 2009. These figures are published by Eurostat, the statistical office...

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The EU's single resolution mechanism will enter into force as foreseen on 1 January 2016. This  signals completion of the second pillar of Europe's banking union. As of 30 November 2015, a sufficient number of member states has ratified an intergovernmental agreement (IGA) on the transfer and mutualisation of contributions to a single resolution fund (SRF). This will allow full operationalisation of the SRF. Single resolution mechanism The single resolution mechanism (SRM) is aimed at ensuring the orderly resolution of failing bankswithout recourse...

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The euro area (EA19) seasonally-adjusted unemployment rate was 10.7% in October 2015, down from 10.8% in September 2015, and from 11.5% in October 2014. This is the lowest rate recorded in the euro area since January 2012. The EU28 unemployment rate was 9.3% in October 2015, stable compared to September 2015,and down from 10.1% in October 2014. This is the lowest rate recorded in the EU28 since September 2009. These figures are published by Eurostat, the statistical office of the European...

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