European Central Bank (ECB)

The European Central Bank, which serves as the eurozone's central bank, is referred to by traders as the "ECB".

The ECB is in charge of monetary policy formulation. The ECB's jurisdiction, in contrast to that of many other central banks, extends to a number of nations that adopt the euro as their currency. The main task of this bank is to maintain price stability in the eurozone and to preserve the purchasing power of the euro.

Since the ECB's policy decisions significantly affect the value of the euro and European companies, traders place a great deal of importance on these decisions.