Since 1999 the European Central Bank (ECB) has been responsible for conducting monetary policy for the euro area. Its primary objective is to maintain the price stability within the Eurozone. Moreover it has to conduct foreign exchange operations, to take care of the foreign reserves of the European System of Central Banks and operation of the financial market infraestructure.
ECB carries out economic research to provide a strong conceptual and empirical basis for policy-making and to better communicate policy to the markets and the public. High-quality research is essential to ensure that the ECB is well equipped to cope with the unprecedented challenges associated with conducting a single monetary policy for a group of sovereign countries.
The most important task of economic research within the Eurosystem is to increase knowledge of the functioning of the euro area economy and to provide models, tools and analyses relevant to the conduct of monetary policy and the fulfilment of other tasks of the Eurosystem.
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