European Central Bank - the central bank for the eurozone, responsible for monetary policy and banking supervision across euro-using European Union countries. It manages the euro currency and sets interest rates.
Acronym formed from 'European Central Bank'. Established in 1998 as part of the European Economic and Monetary Union, based on the model of national central banks but operating at a supranational level.
The ECB is unique among central banks because it serves multiple sovereign nations simultaneously, requiring delicate balance between different national economic interests. Its headquarters in Frankfurt features a distinctive skyscraper that has become an iconic symbol of European financial integration.
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