Conclusion of Governing Council meeting in Slovenia

The monetary policy meeting of the Governing Council of the ECB was held in Brdo pri Kranju on Wednesday, 16 October and Thursday, 17 October at the invitation of Banka Slovenije and Governor Boštjan Vasle. The focus of the meeting was making a decision on a third cut in the ECB’s key interest rates. Meetings of the Governing Council are attended by all members, whether central bank governors from Eurosystem countries or members of the ECB’s executive board. Meetings are usually held in Frankfurt, but once a year they are hosted by one of the central banks of the euro area countries; this year it is Banka Slovenije.

Mr Vasle’s assessment following the end of the meeting was as follows: “Allowing Slovenia to organise a monetary policy meeting of the Governing Council of the ECB is a great accolade, and an expression of the trust that the leadership of the ECB place in Banka Slovenije, which we’ve fully justified. It’s a reflection of what Slovenia has achieved over the last thirty years since independence. It’s also a result of successful integration into European and international institutions.”

Christine Lagarde, president of the ECB, talked to participants in the Masters of the Digital Future debate competition before the meeting, and met Prime Minister Robert Golob.

The first day of the meeting concluded with a ceremonial dinner, at which the gala speech was given by President Nataša Pirc Musar. During the official ceremonies, guests were treated to a ballet performance of the Water Man, choreographed by Edward Clug.

As is customary, a press conference was held after the conclusion of the monetary policy meeting, at which the decisions taken were presented by Ms Lagarde, accompanied by Mr Vasle and by Luis de Guindos, vice-president of the ECB.

This was the second time that Banka Slovenije has hosted the Governing Council of the ECB; the first occasion was in 2012, when Mario Draghi was president of the ECB.