ECB Press

Eurosystem Publishes Comprehensive European Payments Strategy

The Eurosystem has published a comprehensive payments strategy covering wholesale, business-to-business, retail and cross-border payments. The strategy outlines positions on tokenised settlement assets including tokenised deposits and stablecoins, and has four main strategic aims: maintaining the role of central bank money, enhancing system autonomy and robustness, encouraging integrated and competitive payments, and supporting the international role of the euro. It brings together initiatives including the digital euro, Pontes, Appia and TARGET cross-border payment enhancements into a single framework.

ECB Proposes Single Market Reforms to Strengthen Euro Area Bank Competitiveness

The ECB Governing Council published its response to the European Commission's public consultation on EU banking sector competitiveness, endorsed by all euro area central banks. The response calls for the euro area to function more as a single jurisdiction with capital and liquidity moving freely across borders, and proposes concrete reforms including shifting banking rules from directives to directly applicable regulations, merging five macroprudential buffers into two, and increasing proportionality for small banks. The Council also urges progress toward a European Deposit Insurance Scheme and deeper capital markets through a savings and investments union.

Consumer Expectations Survey Shows Inflation Expectations Decreasing in February 2026

The ECB's Consumer Expectations Survey for February 2026 shows median consumer perceptions of past 12-month inflation remained unchanged at 3.0%, while median inflation expectations for the next 12 months and for three years ahead both declined to 2.5% from 2.6% in January. Expected nominal spending growth over the next 12 months increased to 3.5% from 3.4%, while economic growth expectations became less negative at -0.9% from -1.1%. The survey covers approximately 19,000 adult consumers from 11 euro area countries, with results used for policy analysis and complementing other ECB data sources.