The European Central Bank

What does the European Central Bank do?

The main task of the European Central Bank (ECB) is to set interest rates for the 12 countries that share the euro (known as the euro zone). Interest rates in the euro zone currently stand at two percent, their lowest rate for several decades. These rates have not changed since June 2003.

But the ECB's only role provided for it in the EU treaties is to "maintain price stability". What this actually means is that the ECB must keep in...