European Central Bank

European Central Bank
It is the bank made for single currency of Europe named as euro. The main task of ECB isto handle thepurchasing power of euro and therefore the cost stability in an area of euro. The area of euro consists of twelve European countries introducing euro.This bank was established on 1st June in 1998 and is regarded as one of the popular banks in the whole world. This bank is situated in Frankfurt, in Germany and is considered as in charge of Euro’s monetary policy. It is handled by a group of directors andgovernors. The group of governors includes members of representatives and board of directors of the central banks. The main aim of this bank is to handle the stability of the cost within a particular area of euro which means keeping inflationlevel steady and low. Presently, the existing target for inflation level within the area of euro is to handle the rise of cost at a level under, but is close to 2%.