Monetary Policy Tools of European Central Bank

The European Central Bank (ECB) is the sixth of the seven institutions of the European Union (EU) as listed in the Treaty on European Union (TEU). It is the central bank for the euro and administers the monetary policy of the euro area comprises the 17 European Union countries that have introduced the euro since 1999.
ECB was established in June 1, 1998. The bank is headquartered in Frankfurt, Germany. The current President of the ECB is Mario Draghi, former governor of the Bank of Italy.