President Lagarde presents the latest monetary policy decisions – 5 February 2026

Today our Governing Council decided on monetary policy. Listen to President Christine Lagarde present today’s decisions. The statement also covers: • how the economy is performing • how we expect prices to develop • the risks to the economic outlook • the dynamics behind financial and monetary conditions Published and recorded during our press conference on 5 February 2026. Our monetary policy statement at a glance, 5 February 2026 https://www.ecb.europa.eu/press/press_conference/visual-mps/2026/html/mopo_statement_explained_february.en.html Christine Lagarde, Luis de Guindos: Monetary policy statement, 5 February 2026 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2026/html/ecb.is260205~50858cb986.en.html Monetary policy decisions, 5 February 2026 https://www.ecb.europa.eu/press/pr/date/2026/html/ecb.mp260205~001d26959b.en.html Combined monetary policy decisions and statement, 5 February 2026 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/shared/pdf/ecb.ds260205~0c74e825a7.en.pdf European Central Bank https://www.ecb.europa.eu/home/html/index.en.html