Glossary:European Central Bank (ECB)
The European Central Bank, abbreviated as ECB, is the central bank for Europe's single currency, the euro. Its main task is to maintain the euro's purchasing power and thus price stability in the European Union Member States that have introduced the euro since 1999 and now form the euro area. Together, the ECB and the national central banks of all EU Member States constitute the European System of Central Banks. The ECB's main decision-making body is the Governing Council; it consists of the six members of the Executive board, plus the governors of the central banks of the euro area countries.