Holding the minimum reserve at the central bank
Holding the minimum reserve at the central bank The requirement to hold minimum reserves is laid...

Participants and collateral
Participants in the monetary policy operations of the Eurosystem The monetary policy framework of...

Additional measures
Alongside the usual open market operations, asset purchase programmes have been in operation since...

Questions and answers about the asset purchase programmes of the euro area central banks
What is the aim of the programme? The expanded asset purchase programme (APP) is designed to...

Roundtable at Eesti Pank
At the Your opinion counts roundtable, we want to hear what people and organisations think about...

Your opinion counts – a roundtable with Eesti Pank
Madis Müller Governor of Eesti Pank and member of the Governing...

Lending of Eesti Pank’s monetary policy securities
Securities held by Eesti Pank under the PSPP and the PEPP can be lent out. Eesti Pank lends the...

Eesti Pank’s participation in the asset purchase programmes of the euro area

The goal of monetary policy
Estonia joined the euro area at the beginning of 2011. The Eurosystem, which is made up of the...

Central bank reserves
The Eesti Pank reserves allow the central bank to remain independent of the government and ensure...

Eesti Pank's priorities among core operations
Participation in decision-making in the Eurosystem and implementation of decisions As a central...

Monetary policy transmission mechanism
The transmission mechanism of monetary policy involves the channels through which monetary policy...

Monetary policy instruments
The operational framework of the Eurosystem contains the following instruments: Open market...

The functioning of monetary policy
The central bank is the sole issuer of banknotes and sets the reserve requirements for the...

Operational framework
The Eurosystem uses a set of monetary policy instruments and procedures to achieve its primary...

Importance of price stability
Price stability means avoiding prolonged periods of excessively high inflation or...