Governing Council
a.k.a. ECB Governing Council
The ECB's main decision-making body, which sets interest rates for the eurozone.
In plain English
The ECB's main decision-making body, which sets interest rates for the eurozone.
The Governing Council combines the ECB's six-member Executive Board with the governors of every eurozone national central bank. It sets euro area interest rates, usually meeting on policy every six weeks.
Governors rotate voting rights, but all attend. Leaks and speeches from individual members between meetings regularly move the euro. (The Bank of Canada also calls its rate-setting group a Governing Council.)
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