Economic, financial and monetary developments Overview At its meeting on 6 March 2025, the Governing Council decided to lower the three key ECB interest rates by 25 basis points. In particular, the decision to lower the deposit facility rate – the rate through which the Governing Council steers the monetary policy stance – is based on its updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission. The disinflation process is well on track. Inflation has continued to develop broadly as staff expected, and the March 2025 ECB staff macroeconomic projections for the euro area closely align with the previous inflation outlook. Staff now see headline inflation averaging 2.3% in 2025, 1.9% in 2026 and 2.0% in 2027. The upward revision in headline inflation for 2025 reflects stronger energy price dynamics. For inflation excluding energy and food, staff project an average of 2.2% in 2025, 2.0% in 2026 and 1.9% in 2027. ...
The Schuman Declaration was presented by French foreign minister Robert Schuman on 9 May 1950. It proposed the creation of a European Coal and Steel Community, whose members would pool coal and steel production. The ECSC (founding members: France, West Germany, Italy, the Netherlands, Belgium and Luxembourg) was the first of a series of supranational European institutions that would ultimately become today's "European Union".: On 5 May 1949, at the signing of the Statute of the Council of Europe in London, the French Foreign Minister Robert Schuman calls for a revival of the European spirit and hails the dawn of new political cooperation in Europe. There have been - and still are - learned disputes as to the geographical bounds of Europe. But Europe cannot possibly wait for definition, for the end of that controversy; she does, in fact, define her own bounds by the will of her peoples. 🔗 https://european-union.europa.eu/principles-countries-history/history-...