The euro is a stable and credible currency, and the European Central Bank is here to ensure that our currency serves its purpose well – namely ensuring price stability – for the German people and the 331 million citizens of the euro area as a whole.
The euro has held its value remarkably well in the 12 years since it was launched, with an average annual inflation rate of below 2% (1.97% to be precise). That’s better than anything achieved by the national central banks before the introduction of the euro. Our primary mandate is to maintain price stability, which we have done.