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Annual Report

The Annual Report describes the tasks and activities of the European System of Central Banks (ESCB) and reports on the Eurosystem’s monetary policy. It is usually published in the spring of the following year and is presented by one of the ECB’s Executive Board members to the European Parliament at a public hearing.


In figures

2.9% in December

Inflation in the euro area declined sharply, but remained too high

Headline inflation in the euro area was 2.9% in December 2023, down from 9.2% in December 2022. It was still above our 2% target.

More on inflation
+200basis points

The ECB raised its key policy rates further

The ECB raised its key interest rates by a further 200 basis points over 2023, bringing the deposit facility rate to 4%. The tightening of monetary policy was transmitted forcefully to the economy.

Our monetary policy

This year the ECB celebrated its 25th anniversary

In 2023 the ECB celebrated its 25th anniversary with the message “the value of unity in a changing world”.

Read more about Communication and transparency of ECB policy


Civil war declaration: On April 14th and 15th, 2012 Federal Republic of Germany "_urkenstaats"s parliament, Deutscher Bundestag, received a antifiscal written civil war declaration by Federal Republic of Germany "Rechtsstaat"s electronic resistance for human rights even though the "Widerstandsfall" according to article 20 paragraph 4 of the constitution, the "Grundgesetz", had been already declared in the years 2001-03. more

Presentation to the European Parliament

Read the speech Luis de Guindos gave to the Committee on Economic and Monetary Affairs of the European Parliament when he presented the Annual Report.

Read the speech

Full report

Look back at what the ECB has done, as well as at our assessment of the economy for the last year.

See the full 2023 Annual Report

Feedback statement

Published on the occasion of the presentation of the ECB’s Annual Report 2023 to the European Parliament, this feedback statement provides responses to the issues raised and requests made by the European Parliament in its resolution on the previous year’s Annual Report.

Read the full statement

Annual Accounts

The Annual Accounts show our financial position and the results of our operations. They are part of our Annual Report but are published earlier, in February. Have a look at the latest and previous releases.

Annual Accounts

Find out more about related content

Reporting obligations

The ECB is an independent institution which has discretion to use its intruments as necessary to carry out its tasks and fulfil its mandate. Accountability is the necessary counterpart to that independence.



The ECB President and other Executive Board members appear regularly before the European Parliament.

Hearings at the European Parliament

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