Monetary policy decisions

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17 April 2025

The APP and PEPP portfolios are declining at a measured and predictable pace, as the Eurosystem no longer reinvests the principal payments from maturing securities.

17 April 2025

The Governing Council today 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 as staff expected, with both headline and core inflation declining in March. Services inflation has also eased markedly over recent months. Most measures of underlying inflation suggest that inflation will settle at around the Governing Council’s 2% medium-term target on a sustained basis. Wage growth is moderating, and profits are partially buffering the impact of still elevated wage growth on inflation. The euro area economy has been building up some resilience against global shocks, but the outlook for growth has deteriorated owing to rising trade tensions. Increased uncertainty is likely to reduce confidence among households and firms, and the adverse and volatile market response to the trade tensions is likely to have a tightening impact on financing conditions. These factors may further weigh on the economic outlook for the euro area.

The Governing Council is determined to ensure that inflation stabilises sustainably at its 2% medium-term target. Especially in current conditions of exceptional uncertainty, it will follow a data-dependent and meeting-by-meeting approach to determining the appropriate monetary policy stance. In particular, the Governing Council’s interest rate decisions will be based on its assessment of the inflation outlook in light of the incoming economic and financial data, the dynamics of underlying inflation and the strength of monetary policy transmission. The Governing Council is not pre-committing to a particular rate path.

Table of Contents

Key ECB interest rates

The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. Accordingly, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be decreased to 2.25%, 2.40% and 2.65% respectively, with effect from 23 April 2025.

Asset purchase programme (APP) and pandemic emergency purchase programme (PEPP)

***

The Governing Council stands ready to adjust all of its instruments within its mandate to ensure that inflation stabilises sustainably at its 2% target over the medium term and to preserve the smooth functioning of monetary policy transmission. Moreover, the Transmission Protection Instrument is available to counter unwarranted, disorderly market dynamics that pose a serious threat to the transmission of monetary policy across all euro area countries, thus allowing the Governing Council to more effectively deliver on its price stability mandate.

The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 14:45 CET today.

Rise in violence against civilians in South Sudan

By

United Nations News

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17 April 2025

Rise in violence against civilians in South Sudan

The finding comes in its latest brief on violence against civilians, which also reveals a similar rise in incidents of conflict-related sexual violence (CSRV).

Sources include victims and eyewitness accounts, as well as reports from secondary sources identified during field missions, service providers and protection partners.

Table of Contents

Killings, abductions and other horrors

Last year, UNMISS documented 1,019 violent incidents affecting 3,657 civilians.

Of this number 1,561 were killed and 1,299 injured. Another 551 people were abducted, including at least nine humanitarian workers, while 246 were subjected to CRSV.

This marks a 15 per cent increase over the 885 violent incidents documented in 2023 and a nine per cent increase in victims.

UNMISS said armed communal violence by community-based militias and/or civil defense groups remained the leading cause of harm against civilians, accounting for nearly 80 per cent of victims.

Warrap state recorded the highest number of civilian deaths and injuries, mainly by community-based militias and/or civil defense groups, whereas Western Equatoria state documented the highest number of sexual violence.

Most abductions took place in Central Equatoria state, mainly by alleged members of National Salvation Front splinter groups, followed by Jonglei state, allegedly by armed elements from the Murle community.

Urgent action needed

“Protecting civilians and preventing violence requires urgent action by authorities at the national, state and local levels as well as by communities to address the root causes of conflict and find non-violent solutions,” said Nicholas Haysom, the Special Representative of the UN Secretary-General for South Sudan and Head of UNMISS.

He stressed the critical need to promote dialogue, reconciliation and social cohesion in order to defuse tensions and build trust.

Noting that the Government of South Sudan bears primary responsibility to protect civilians, UNMISS called on national and state authorities to take appropriate measures to end violence, defuse tensions, and hold perpetrators accountable.

The UN Mission supports these efforts by conducting thousands of peacekeeping patrols each year. It also supports community efforts to promote reconciliation and peacebuilding through dialogue and actively assists political and peace processes.

Recent tensions and insecurity

South Sudan is the world’s youngest country, having gained independence from Sudan in July 2011, but soon descended into civil war.

Fighting erupted in December 2013 between troops loyal to President Salva Kiir and opposition forces led by his rival Riek Machar. Hundreds of thousands of people were killed and millions displaced. A 2018 peace agreement ended the conflict and established a unity government.

The UN has been warning against a return to full-scale war in the wake of rising tensions, including the arrest of Mr. Machar last month and fresh mobilization of the army and opposing armed groups in some regions.

Mr. Haysom, the UNMISS chief, briefed the UN Security Council on Wednesday. He said that the sharp deterioration in the political and security situation threatens to unravel peace gains made in recent years.

World News in Brief: Relief supplies for Myanmar, invest in Haiti, child migrant deaths in Italy

By

United Nations News

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17 April 2025

World News in Brief: Relief supplies for Myanmar, invest in Haiti, child migrant deaths in Italy

The flight was chartered by the UN refugee agency, UNHCR, and delivered tents and household items for some 16,000 people.

Myanmar continues to reel from the quake, which struck on 28 March. More than 3,600 people are now known to have died, with more than 5,000 injured and hundreds still missing.

Across Myanmar, more than nine million people – including 2.7 million children – are estimated to be the worst affected. Massive damage has also been reported to critical infrastructure, including over 190 healthcare facilities and more than 2,300 schools.

In response, UN agencies have appealed for $275 million to assist affected communities, with UNHCR requesting $16 million to help 1.2 million people.

Table of Contents

Migration agency chief appeals for greater support for Haiti

The head of the UN International Organization for Migration (IOM) has called for more support for Haiti, where gang violence and instability have displaced more than one million people – triple the number from just a year ago.

IOM Director-General Amy Pope made the appeal following a high-level visit to the country this week.

Gang violence across vast areas of the capital, Port-au-Prince, has forced families to flee repeatedly, leaving them without access to shelter, water or medical care.

This is happening as nearly 200 Haitians were deported back from neighbouring countries, straining already overwhelmed local systems.

Ms. Pope described the situation in Haiti as among the most complex and urgent crises in the world, with implications for regional and global stability.

“When we invest in humanitarian support, we don’t just save lives – we build resilience and safety to helps stabilize communities and reduce the conditions that cause forced migration,” she said.

One child a day dies migrating to Italy: UNICEF

Over the past decade, an estimated 3,500 children have died or gone missing on the dangerous Mediterranean Sea crossing from Libya to southern Italy – or roughly one child every day.

That’s according to the UN Children’s Fund (UNICEF), which is highlighting the need for safer migration routes for boys and girls fleeing war, conflict, violence or extreme poverty.

Children account for nearly 17 per cent of those who survive the perilous journey to Italy, said Nicola Dell’Arciprete, UNICEF Country Coordinator, speaking from Rome to journalists in Geneva.

The overwhelming majority, 70 per cent, travel alone without a parent or legal guardian, leaving them vulnerable to being trafficked, exploited or abused.

“I saw this last week in Lampedusa, where there are children being crammed into dark unventilated cargo holds,” said Mr. Dell’Arciprete.

UNICEF is working with the Italian authorities and other partners to meet children’s immediate needs and support their long-term integration into local communities.

“Now governments must do more,” he said, urging them to fully implement the European Union (EU) Migration and Asylum Pact to prioritize the best interests of children.

He also called for ensuring other measures, including coordinated search and rescue efforts, safe disembarkation, and access to asylum services. 

Monetary policy statement

By

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17 April 2025

The Governing Council today 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 we steer the monetary policy stance – is based on our updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission.

Table of Contents

Christine Lagarde, President of the ECB,
Luis de Guindos, Vice-President of the ECB

Frankfurt am Main, 17 April 2025

Good afternoon, the Vice-President and I welcome you to our press conference.

The disinflation process is well on track. Inflation has continued to develop as staff expected, with both headline and core inflation declining in March. Services inflation has also eased markedly over recent months. Most measures of underlying inflation suggest that inflation will settle at around our two per cent medium-term target on a sustained basis. Wage growth is moderating, and profits are partially buffering the impact of still elevated wage growth on inflation. The euro area economy has been building up some resilience against global shocks, but the outlook for growth has deteriorated owing to rising trade tensions. Increased uncertainty is likely to reduce confidence among households and firms, and the adverse and volatile market response to the trade tensions is likely to have a tightening impact on financing conditions. These factors may further weigh on the economic outlook for the euro area.

We are determined to ensure that inflation stabilises sustainably at our two per cent medium-term target. Especially in current conditions of exceptional uncertainty, we will follow a data-dependent and meeting-by-meeting approach to determining the appropriate monetary policy stance. In particular, our interest rate decisions will be based on our assessment of the inflation outlook in light of the incoming economic and financial data, the dynamics of underlying inflation and the strength of monetary policy transmission. We are not pre-committing to a particular rate path.

The decisions taken today are set out in a press release available on our website.

I will now outline in more detail how we see the economy and inflation developing and will then explain our assessment of financial and monetary conditions.

Economic activity

The economic outlook is clouded by exceptional uncertainty. Euro area exporters face new barriers to trade, although their scope remains unclear. Disruptions to international commerce, financial market tensions and geopolitical uncertainty are weighing on business investment. As consumers become more cautious about the future, they may hold back from spending as well.

At the same time, the euro area economy has been building up some resilience against the global shocks. The economy is likely to have grown in the first quarter of the year, and manufacturing has shown signs of stabilisation. Unemployment fell to 6.1 per cent in February, its lowest level since the launch of the euro. A strong labour market, higher real incomes and the impact of our monetary policy should underpin spending. The important policy initiatives that have been launched at the national and EU levels to increase defence spending and infrastructure investment can be expected to bolster manufacturing, which is also reflected in recent surveys.

In the present geopolitical environment, it is even more urgent for fiscal and structural policies to make the euro area economy more productive, competitive and resilient. The European Commission’s Competitiveness Compass provides a concrete roadmap for action, and its proposals, including on simplification, should be swiftly adopted. This includes completing the savings and investment union, following a clear and ambitious timetable, which should help savers benefit from more opportunities to invest and improve firms’ access to finance, especially risk capital. It is also important to rapidly establish the legislative framework to prepare the ground for the potential introduction of a digital euro. Governments should ensure sustainable public finances in line with the EU’s economic governance framework and prioritise essential growth-enhancing structural reforms and strategic investment.

Inflation

Annual inflation edged down to 2.2 per cent in March. Energy prices fell by 1.0 per cent, after a slight rise in February, while food price inflation rose to 2.9 per cent in March, from 2.7 per cent in February. Goods inflation was stable at 0.6 per cent. Services inflation fell again in March, to 3.5 per cent, and it now stands half a percentage point below the rate recorded at the end of last year.

Most indicators of underlying inflation are pointing to a sustained return of inflation to our two per cent medium-term target. Domestic inflation has declined since the end of 2024. Wages are gradually moderating. In the last quarter of 2024 annual growth in compensation per employee stood at 4.1 per cent, down from 4.5 per cent in the previous quarter. Rising productivity also meant that unit labour costs grew more slowly. The ECB’s wage tracker and information from our contacts with companies point to a decline in wage growth in 2025, as also indicated in the March staff projections. Unit profits fell at an annual rate of 1.1 per cent at the end of last year, contributing to lower domestic inflation.

Most measures of longer-term inflation expectations continue to stand at around 2 per cent, which supports the sustainable return of inflation to our target.

Risk assessment

Downside risks to economic growth have increased. The major escalation in global trade tensions and associated uncertainties will likely lower euro area growth by dampening exports, and it may drag down investment and consumption. Deteriorating financial market sentiment could lead to tighter financing conditions, increase risk aversion and make firms and households less willing to invest and consume. Geopolitical tensions, such as Russia’s unjustified war against Ukraine and the tragic conflict in the Middle East, also remain a major source of uncertainty. At the same time, an increase in defence and infrastructure spending would add to growth.

Increasing global trade disruptions are adding more uncertainty to the outlook for euro area inflation. Falling global energy prices and appreciation of the euro could put further downward pressure on inflation. This could be reinforced by lower demand for euro area exports owing to higher tariffs, and a re-routing of exports into the euro area from countries with overcapacity. Adverse financial market reactions to the trade tensions could weigh on domestic demand and thereby also lower inflation. By contrast, a fragmentation of global supply chains could raise inflation by pushing up import prices. A boost in defence and infrastructure spending could also raise inflation over the medium term. Extreme weather events, and the unfolding climate crisis more broadly, could drive up food prices by more than expected.

Financial and monetary conditions

Risk-free interest rates have declined in response to the escalating trade tensions. Equity prices have fallen amid high volatility and corporate bond spreads have widened around the globe. The euro has strengthened over recent weeks as investor sentiment has proven more resilient towards the euro area than towards other economies.

The latest official statistics on corporate borrowing, which predated these market tensions, continued to indicate that our interest rate cuts had made it less expensive for firms to borrow. The average interest rate on new loans to firms declined to 4.1 per cent in February, from 4.3 per cent in January. Firms’ cost of issuing market-based debt declined to 3.5 per cent in February, but there has been some upward pressure more recently. Moreover, growth in lending to firms picked up again in February, to 2.2 per cent, while debt securities issuance by firms grew at an unchanged rate of 3.2 per cent.

At the same time, credit standards for business loans tightened slightly again in the first quarter of 2025, as reported in our latest bank lending survey for the euro area. As in the previous quarter, this was mainly because banks are becoming more concerned about the economic risks faced by their customers. Demand for loans to firms decreased slightly in the first quarter, after a modest recovery in previous quarters.

The average rate on new mortgages, at 3.3 per cent in February, increased on the back of earlier rises in longer-term market rates. Mortgage lending continued to strengthen in February, albeit at a still subdued annual rate of 1.5 per cent, as banks eased their credit standards and demand for loans to households continued to increase strongly.

Conclusion

The Governing Council today 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 we steer the monetary policy stance – is based on our updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission. We are determined to ensure that inflation stabilises sustainably at our two per cent medium-term target. Especially in current conditions of exceptional uncertainty, we will follow a data-dependent and meeting-by-meeting approach to determining the appropriate monetary policy stance. In particular, our interest rate decisions will be based on our assessment of the inflation outlook in light of the incoming economic and financial data, the dynamics of underlying inflation and the strength of monetary policy transmission. We are not pre-committing to a particular rate path.

In any case, we stand ready to adjust all of our instruments within our mandate to ensure that inflation stabilises sustainably at our medium-term target and to preserve the smooth functioning of monetary policy transmission.

We are now ready to take your questions.

IRF Roundtable Congratulates Congressman Mark Walker on Appointment as Ambassador-at-Large for International Religious Freedom

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17 April 2025

WASHINGTON, D.C. – The International Religious Freedom (IRF) Roundtable welcomes the announcement—made last night via the platform X—of Congressman Mark Walker’s selection by the Trump administration to serve as the next U.S. Ambassador-at-Large for International Religious Freedom.

As a long-standing, multi-faith, and non-partisan community of advocates committed to advancing freedom of religion or belief for all people, everywhere, the IRF Roundtable has long valued robust and constructive engagement with leaders who serve in this important role. The Ambassador-at-Large plays a critical part in promoting religious freedom as a core component of U.S. foreign policy and in championing the rights of religious and belief communities facing persecution worldwide.

Congressman Walker brings a deep understanding of the challenges facing religious communities globally and a demonstrated commitment to the cause of human dignity and liberty. His leadership in Congress, including efforts to support persecuted communities and engage diverse coalitions, has prepared him well for this vital position.

Born in Dothan, Alabama, in 1969, Mark Walker is a Baptist pastor and public servant who represented North Carolina’s 6th Congressional District in the U.S. House of Representatives from 2015 to 2021. During his tenure, he chaired the Republican Study Committee and served as Vice Chair of the House Republican Conference. Walker has been recognized for his efforts to build bipartisan coalitions in support of religious freedom, human rights, and international engagement.

“We are encouraged by the nomination of Ambassador-designate Walker and stand ready to support him as he steps into this pivotal role at a time when international religious freedom faces mounting challenges,” said Nadine Maenza, President of IRF Secretariat and Co-chair of the IRF Roundtable. “The IRF Roundtable remains committed to partnering with the Ambassador and the Office of International Religious Freedom to protect and promote the freedom of thought, conscience, religion, and belief for all.”

For over a decade, the IRF Roundtable has served as a space for civil society leaders, faith communities, survivors, and policy stakeholders to collaborate across deep differences and find common ground. We believe that cooperative engagement and persistent diplomacy—anchored in a shared commitment to freedom of thought, conscience, religion and belief—are essential to lasting progress.

We welcome this new chapter in U.S. leadership on international religious freedom and invite continued dialogue, collaboration, and momentum in the days ahead.

###

About the IRF Roundtable:
The IRF Roundtable is a multi-faith, inclusive, and informal network of individuals from non-governmental organizations who gather regularly to discuss and advance the cause of international religious freedom. Our mission is to promote freedom of religion or belief for all people, everywhere, through respectful dialogue, strategic partnerships, and collective action.

First published HERE.

Monetary policy statement

By

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17 April 2025

The Governing Council today 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 we steer the monetary policy stance – is based on our updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission.

Table of Contents

Christine Lagarde, President of the ECB,
Luis de Guindos, Vice-President of the ECB

Frankfurt am Main, 17 April 2025

Good afternoon, the Vice-President and I welcome you to our press conference.

The disinflation process is well on track. Inflation has continued to develop as staff expected, with both headline and core inflation declining in March. Services inflation has also eased markedly over recent months. Most measures of underlying inflation suggest that inflation will settle at around our two per cent medium-term target on a sustained basis. Wage growth is moderating, and profits are partially buffering the impact of still elevated wage growth on inflation. The euro area economy has been building up some resilience against global shocks, but the outlook for growth has deteriorated owing to rising trade tensions. Increased uncertainty is likely to reduce confidence among households and firms, and the adverse and volatile market response to the trade tensions is likely to have a tightening impact on financing conditions. These factors may further weigh on the economic outlook for the euro area.

We are determined to ensure that inflation stabilises sustainably at our two per cent medium-term target. Especially in current conditions of exceptional uncertainty, we will follow a data-dependent and meeting-by-meeting approach to determining the appropriate monetary policy stance. In particular, our interest rate decisions will be based on our assessment of the inflation outlook in light of the incoming economic and financial data, the dynamics of underlying inflation and the strength of monetary policy transmission. We are not pre-committing to a particular rate path.

The decisions taken today are set out in a press release available on our website.

I will now outline in more detail how we see the economy and inflation developing and will then explain our assessment of financial and monetary conditions.

Economic activity

The economic outlook is clouded by exceptional uncertainty. Euro area exporters face new barriers to trade, although their scope remains unclear. Disruptions to international commerce, financial market tensions and geopolitical uncertainty are weighing on business investment. As consumers become more cautious about the future, they may hold back from spending as well.

At the same time, the euro area economy has been building up some resilience against the global shocks. The economy is likely to have grown in the first quarter of the year, and manufacturing has shown signs of stabilisation. Unemployment fell to 6.1 per cent in February, its lowest level since the launch of the euro. A strong labour market, higher real incomes and the impact of our monetary policy should underpin spending. The important policy initiatives that have been launched at the national and EU levels to increase defence spending and infrastructure investment can be expected to bolster manufacturing, which is also reflected in recent surveys.

In the present geopolitical environment, it is even more urgent for fiscal and structural policies to make the euro area economy more productive, competitive and resilient. The European Commission’s Competitiveness Compass provides a concrete roadmap for action, and its proposals, including on simplification, should be swiftly adopted. This includes completing the savings and investment union, following a clear and ambitious timetable, which should help savers benefit from more opportunities to invest and improve firms’ access to finance, especially risk capital. It is also important to rapidly establish the legislative framework to prepare the ground for the potential introduction of a digital euro. Governments should ensure sustainable public finances in line with the EU’s economic governance framework and prioritise essential growth-enhancing structural reforms and strategic investment.

Inflation

Annual inflation edged down to 2.2 per cent in March. Energy prices fell by 1.0 per cent, after a slight rise in February, while food price inflation rose to 2.9 per cent in March, from 2.7 per cent in February. Goods inflation was stable at 0.6 per cent. Services inflation fell again in March, to 3.5 per cent, and it now stands half a percentage point below the rate recorded at the end of last year.

Most indicators of underlying inflation are pointing to a sustained return of inflation to our two per cent medium-term target. Domestic inflation has declined since the end of 2024. Wages are gradually moderating. In the last quarter of 2024 annual growth in compensation per employee stood at 4.1 per cent, down from 4.5 per cent in the previous quarter. Rising productivity also meant that unit labour costs grew more slowly. The ECB’s wage tracker and information from our contacts with companies point to a decline in wage growth in 2025, as also indicated in the March staff projections. Unit profits fell at an annual rate of 1.1 per cent at the end of last year, contributing to lower domestic inflation.

Most measures of longer-term inflation expectations continue to stand at around 2 per cent, which supports the sustainable return of inflation to our target.

Risk assessment

Downside risks to economic growth have increased. The major escalation in global trade tensions and associated uncertainties will likely lower euro area growth by dampening exports, and it may drag down investment and consumption. Deteriorating financial market sentiment could lead to tighter financing conditions, increase risk aversion and make firms and households less willing to invest and consume. Geopolitical tensions, such as Russia’s unjustified war against Ukraine and the tragic conflict in the Middle East, also remain a major source of uncertainty. At the same time, an increase in defence and infrastructure spending would add to growth.

Increasing global trade disruptions are adding more uncertainty to the outlook for euro area inflation. Falling global energy prices and appreciation of the euro could put further downward pressure on inflation. This could be reinforced by lower demand for euro area exports owing to higher tariffs, and a re-routing of exports into the euro area from countries with overcapacity. Adverse financial market reactions to the trade tensions could weigh on domestic demand and thereby also lower inflation. By contrast, a fragmentation of global supply chains could raise inflation by pushing up import prices. A boost in defence and infrastructure spending could also raise inflation over the medium term. Extreme weather events, and the unfolding climate crisis more broadly, could drive up food prices by more than expected.

Financial and monetary conditions

Risk-free interest rates have declined in response to the escalating trade tensions. Equity prices have fallen amid high volatility and corporate bond spreads have widened around the globe. The euro has strengthened over recent weeks as investor sentiment has proven more resilient towards the euro area than towards other economies.

The latest official statistics on corporate borrowing, which predated these market tensions, continued to indicate that our interest rate cuts had made it less expensive for firms to borrow. The average interest rate on new loans to firms declined to 4.1 per cent in February, from 4.3 per cent in January. Firms’ cost of issuing market-based debt declined to 3.5 per cent in February, but there has been some upward pressure more recently. Moreover, growth in lending to firms picked up again in February, to 2.2 per cent, while debt securities issuance by firms grew at an unchanged rate of 3.2 per cent.

At the same time, credit standards for business loans tightened slightly again in the first quarter of 2025, as reported in our latest bank lending survey for the euro area. As in the previous quarter, this was mainly because banks are becoming more concerned about the economic risks faced by their customers. Demand for loans to firms decreased slightly in the first quarter, after a modest recovery in previous quarters.

The average rate on new mortgages, at 3.3 per cent in February, increased on the back of earlier rises in longer-term market rates. Mortgage lending continued to strengthen in February, albeit at a still subdued annual rate of 1.5 per cent, as banks eased their credit standards and demand for loans to households continued to increase strongly.

Conclusion

The Governing Council today 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 we steer the monetary policy stance – is based on our updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission. We are determined to ensure that inflation stabilises sustainably at our two per cent medium-term target. Especially in current conditions of exceptional uncertainty, we will follow a data-dependent and meeting-by-meeting approach to determining the appropriate monetary policy stance. In particular, our interest rate decisions will be based on our assessment of the inflation outlook in light of the incoming economic and financial data, the dynamics of underlying inflation and the strength of monetary policy transmission. We are not pre-committing to a particular rate path.

In any case, we stand ready to adjust all of our instruments within our mandate to ensure that inflation stabilises sustainably at our medium-term target and to preserve the smooth functioning of monetary policy transmission.

We are now ready to take your questions.

Prior Information Notice – Enhancing Animal Health and Welfare: Harmonising EU Legal Frameworks through the BTSF Initiative

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17 April 2025

Prior Information Notice – Enhancing Animal Health and Welfare: Harmonising EU Legal Frameworks through the BTSF Initiative

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Prior Information Notice – Enhancing Animal Health and Welfare: Harmonising EU Legal Frameworks through the BTSF Initiative

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17 April 2025

HaDEA has published the Prior Information Notice HADEA/2025/OP/0012-PIN – Enhancing Animal Health and Welfare in EU Member States and Candidate Countries: Harmonising EU Legal Frameworks through the ‘Better Training for Safer Food’ Initiative.

The subject of this call for tenders is the organisation and implementation of training activities on Animal Health and Animal Welfare Law under the “Better Training for Safer Food” initiative. The execution of the tasks will be divided in two separate phases of 30 months each. The main objectives of this call for tenders are:

Protecting the EU from animal diseases
Harmonising EU legislation
Promoting sustainable food systems
Supporting DG SANTE priorities and enhancing global recognition of EU standards

The main beneficiaries will be EU Member States and Candidate Countries, with some non-EU countries (EU Neighborhood countries), which will be also covered based on European Commission strategic objectives.

Estimated budget: €3 900 000

Interested parties are invited to check the Funding and Tenders Portal for the upcoming publication of the call for tenders.

Background

Better Training for Safer Food (BTSF) is a European Commission training initiative to improve the knowledge and implementation of EU rules covering food safety, plant, animal, and One Health.

The basic training principles involve the delivery of information, knowledge sharing and networking, and using the train-the-trainer approach to disseminate the knowledge attained. Training delivery may be through face-to-face courses, virtual classrooms or eLearning.

Cyprien Katsaris The Maverick Virtuoso Who Redefined the Classical Piano

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17 April 2025

In an age when classical pianists are often shaped by conservatory polish and safe repertoire choices, Cyprien Katsaris has long danced to a different rhythm — and not just metaphorically. The French-Cypriot virtuoso has spent decades charting a singular course through the musical landscape, blending brilliance, irreverence, and historical curiosity in a way few have dared. Pianist, composer, improviser, provocateur — Katsaris is all of these and more.

Born in 1951 in Marseille to Greek-Cypriot parents, Katsaris was a prodigious talent from the start. He gave his first public performance at the age of seven, playing a concerto by Haydn. Trained at the Paris Conservatoire under Aline van Barentzen and Monique de la Bruchollerie, and influenced by the great traditions of Cortot and Cziffra, he quickly earned first prizes in piano and chamber music. But it was clear early on: he was not to be molded by the academy.

“I don’t believe in just reproducing the past,”
“The interpreter must live with the music, reinvent it for today.”

Cyprien Katsaris

This belief would lead him to some of the most daring and idiosyncratic projects in the piano world.

Table of Contents

The Orchestras at His Fingertips

Perhaps no work defines Katsaris’s ambition and audacity more than his recordings of the complete Liszt transcriptions of Beethoven’s symphonies. These are not just exercises in technical prowess; they are feats of orchestral imagination. Where most pianists shy away from such monumental challenges, Katsaris thrives. His reading of the “Eroica” or “Pastoral” symphonies conjures entire brass sections, woodwinds, and sweeping strings from a single keyboard. He treats the piano as a prism — refracting the symphonic score through sound and soul.

Yet his success in this daunting cycle is not just a technical marvel — it’s deeply interpretative. Katsaris doesn’t merely play notes; he tells stories, balances textures, highlights inner voices, and breathes life into every crescendo. It is Liszt’s vision filtered through Katsaris’s own musical DNA — Romantic, passionate, and uncompromising.

A Taste for the Theatrical

A Katsaris concert is never a sterile affair. There may be humor, improvisation, commentary, even a sudden turn into Queen’s Bohemian Rhapsody — reimagined in high Romantic style. His flair for the unexpected is not for show; it is the result of a fearless approach to interpretation, and a belief that the concert stage is a living space, not a museum.

Whether performing Liszt’s Hungarian Rhapsodies or Mozart’s variations, Katsaris brings theatricality to his phrasing — a sly wink here, a whisper there, a thunderclap where you least expect it. In a world that often prizes perfection over personality, his performances feel refreshingly human.

“If I can’t surprise myself in concert,”
“how can I expect to surprise the audience?”

Cyprien Katsaris An Archivist of the Unexpected

Over the years, Katsaris has become an unlikely musical archaeologist. His independent label, Piano 21, has released dozens of rare recordings — from forgotten 19th-century gems to reimagined works by Wagner, Mahler, and even film music. He’s brought to light early versions of well-known works and recorded piano music by composers more often associated with other genres.

This curatorial instinct sets him apart. Katsaris is not just a pianist but a passionate advocate for a broader, deeper repertoire. He invites his listeners to explore the margins — the places where history forgot to look.

A Citizen of Many Worlds

Fluent in multiple languages and at home in Europe, Asia, and the Americas, Katsaris has toured the globe for decades. He has performed with leading orchestras, collaborated with conductors from Leonard Bernstein to Kurt Masur, and played in iconic halls from Carnegie to the Forbidden City. Yet, despite international acclaim, he remains something of an insider’s secret — a pianist beloved by connoisseurs, fellow musicians, and risk-taking listeners.

The Unclassifiable Genius

Trying to categorize Cyprien Katsaris is like trying to pin down quicksilver. He is at once a traditionalist and an iconoclast, a scholar and a showman. One moment he delivers a historically informed interpretation of Bach; the next, he improvises a fugue on a theme shouted from the audience. His hands may be rooted in the keyboard, but his mind is in flight — improvising, imagining, and questioning.

If the classical world sometimes fears spontaneity, Katsaris thrives on it. He challenges the orthodoxy not out of rebellion, but out of love for music as a living force. He is, in the deepest sense, an artist who plays in every meaning of the word.

Postlude

To discover Cyprien Katsaris is to rediscover the piano itself — not merely as a polished instrument, but as a voice, a playground, a battlefield, a universe. His recordings open doors to the forgotten, the forbidden, the fantastic. His concerts promise unpredictability, beauty, and the thrilling sense that anything could happen.

For those weary of routine in classical music, Katsaris offers something more: the possibility of magic.

Creating A Balanced Lifestyle – Tips For Achieving Natural Wellness Every Day

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17 April 2025

Creating A Balanced Lifestyle – Tips For Achieving Natural Wellness Every Day

Just as a well-tuned instrument creates beautiful music, a balanced lifestyle allows individuals to achieve natural wellness daily. He, she, and they must understand that harmony in life can result from simple adjustments in routine, nutrition, and mental health practices. By prioritizing self-care and engaging in activities that promote emotional stability, they can significantly enhance their overall well-being. This blog post offers insightful tips that empower individuals to take charge of their health and create sustainable habits for lasting wellness.

Key Takeaways:

Establish a consistent daily routine that incorporates physical activity, healthy eating, and mindfulness practices to promote overall wellbeing.
Prioritize quality sleep by creating a restful environment and adhering to a sleep schedule to support natural recovery and restore energy levels.
Incorporate stress management techniques, such as meditation, yoga, or journaling, to enhance emotional health and resilience.
Stay hydrated and consume a balanced diet rich in fruits, vegetables, lean proteins, and whole grains to fuel your body effectively.
Make time for social connections and engaging activities that bring joy, as strong relationships and hobbies can significantly improve quality of life.

Understanding Natural Wellness

A concept rooted in the harmonious interaction between the body, mind, and spirit, natural wellness emphasizes the importance of holistic health practices. It encourages individuals to cultivate a lifestyle that prioritizes well-being through organic food choices, mindfulness, physical activity, and emotional stability. By harnessing the power of nature and self-awareness, a person can foster resilience against stress and enhance their overall quality of life.

The Concept of Balance

With a balanced lifestyle, individuals can synchronize their physical, emotional, and spiritual needs. Achieving this equilibrium often involves cultivating healthy habits and routines, enabling them to navigate daily challenges more effectively. Embracing this synergy leads to improved vitality and reduces the risk of burnout.

Benefits of a Balanced Lifestyle

Natural wellness provides a multitude of benefits that significantly enhance one’s quality of life.

In fact, she can experience heightened energy levels, improved mental clarity, and better emotional regulation. By prioritizing a balanced lifestyle, they also reduce the risk of developing chronic illnesses and promote longevity. Furthermore, a focus on wellness fosters stronger relationships, as individuals tend to be more present and engaged. As they embrace such a lifestyle, they are likely to find themselves more adaptable and resilient in the face of life’s challenges, ultimately leading to greater happiness and fulfillment.

Nutrition for Wellness

Any individual seeking to achieve a balanced lifestyle must prioritize nutrition as a foundational element. A diet rich in natural, nourishing foods contributes significantly to overall wellness, enhancing both physical health and mental clarity. By incorporating a variety of wholesome ingredients, they can fuel their bodies and promote long-term vitality.

Importance of Whole Foods

With an emphasis on whole foods, individuals can maximize their nutrient intake while minimizing harmful additives and preservatives found in highly processed products. Whole foods such as fruits, vegetables, whole grains, and lean proteins provide important vitamins, minerals, and antioxidants that support optimal bodily functions and overall health.

Meal Planning and Preparation

Across various lifestyles, effective meal planning and preparation serve as powerful tools for maintaining a healthy diet. By dedicating time to strategize meals and prep ingredients in advance, individuals can ensure they have easy access to nutritious options, reducing the likelihood of unhealthy choices during busy periods.

Consequently, meal planning encourages intentional eating habits that can foster better physical and mental health. They can prepare balanced recipes that feature a mix of proteins, healthy fats, and complex carbohydrates, ensuring they receive a variety of nutrients. Furthermore, creating a weekly menu and shopping list helps streamline grocery shopping, avoiding the pitfalls of impulsive buying. By focusing on batch cooking and using versatile ingredients, individuals can save time while also minimizing food waste, ultimately leading to a sustainable, nourishing lifestyle.

Physical Activity and Exercise

For anyone aiming to achieve natural wellness every day, physical activity and exercise play a pivotal role. Engaging in a variety of physical activities not only enhances physical health but also contributes to mental well-being. Prioritizing regular movement helps to improve mood, increase energy levels, and maintain a healthy body weight, all of which are necessary components for a balanced lifestyle.

Finding the Right Exercise for You

About discovering the right type of exercise for oneself involves understanding personal preferences and fitness levels. He or she should explore various activities—such as swimming, cycling, yoga, or dancing—to identify what brings joy and motivates them to stay active. It’s important for them to select exercises that align with their interests, as this will lead to a more sustainable and enjoyable fitness journey.

Incorporating Movement into Daily Life

Between structured workouts and spontaneous activities, there are numerous ways for individuals to incorporate movement into their daily routines. Simple changes to their day can make a significant impact on overall physical health.

Finding ways to integrate movement into everyday life can serve to enhance well-being and promote a balanced lifestyle. He or she might consider options like taking the stairs instead of the elevator, walking or biking to nearby locations instead of driving, or even standing while working. Aiming for brief, frequent periods of activity throughout the day—whether it’s stretching, walking, or performing bodyweight exercises—can lead to an increase in overall fitness levels. Not only does this create consistent movement, but it also fosters a sense of accomplishment and boosts energy levels, aiding them in maintaining a healthier, more balanced lifestyle.

Mental and Emotional Well-being

Keep in mind that cultivating mental and emotional well-being is necessary for a balanced lifestyle. By addressing their emotional health and practicing self-care, individuals can enhance their overall quality of life. They should prioritize activities that promote joy and connection, creating a stable foundation for both their personal and professional challenges.

Practices for Stress Management

Management of stress is vital for maintaining emotional well-being. Individuals can engage in various techniques such as time management, setting realistic goals, and establish boundaries, all of which help mitigate stress levels. By creating a structured plan, they allow themselves room to breathe and reassert control over their day-to-day lives.

Mindfulness and Meditation Techniques

Emotional stability thrives on the use of mindfulness and meditation techniques. These practices assist individuals in grounding themselves and fostering a deeper connection to the present moment. They enable people to observe their thoughts without judgment, leading to a greater awareness of their emotions and reducing feelings of anxiety and depression.

With mindfulness and meditation, individuals can experience transformational benefits. Engaging in these practices regularly helps to foster emotional resilience and a profound sense of inner peace. By dedicating time each day to sit quietly and focus on their breath, they can achieve greater clarity in thoughts and cultivate a more positive outlook on life. Over time, these techniques can lead to remarkable improvements in stress management, emotional balance, and overall well-being.

Quality Sleep and Rest

Your body and mind require quality sleep to rejuvenate and function optimally. Establishing healthy sleep habits ensures better physical health, emotional well-being, and cognitive performance. By prioritizing rest, individuals can create a balanced lifestyle that promotes natural wellness every day.

Importance of Sleep Hygiene

On maintaining healthy sleep hygiene significantly impacts overall well-being. It involves creating an environment and routine that encourages restorative sleep. Adequate sleep hygiene enhances both sleep quality and the ability to wake up refreshed and ready to tackle the day.

Tips for Better Sleep

One way to enhance sleep quality is by implementing effective strategies.

Establish a consistent sleep schedule by going to bed and waking up at the same time daily.
Create a comfortable sleep environment with a supportive mattress and suitable temperature.
Limit screen time before bed to reduce blue light exposure.
Avoid caffeine and heavy meals close to bedtime for improved digestion and relaxation.

This combination of practices fosters better sleep and overall wellness.

Tips for improving sleep include adjusting the sleep environment and daily habits.

Incorporate relaxation techniques like meditation or deep breathing exercises before bedtime.
Keep the bedroom dark and quiet to encourage uninterrupted rest.
Engage in regular physical activity to promote deeper sleep cycles.
Monitor room temperature to ensure it remains comfortable for sleep.

This thoughtful approach ensures individuals achieve the restful sleep needed for maintaining a balanced lifestyle.

Building Positive Relationships

To cultivate a balanced lifestyle, one must focus on building positive relationships. These connections, whether with family, friends, or colleagues, provide emotional support, promote mental well-being, and foster a sense of belonging. Healthy relationships encourage open dialogue, mutual respect, and understanding, all of which contribute to an individual’s overall wellness. By investing time in nurturing these bonds, she can enhance her quality of life and achieve greater happiness.

The Role of Community in Wellness

On her journey to wellness, an individual’s community plays a significant role in providing support and resources. Being part of a community offers opportunities for social interaction, skill sharing, and collaboration. Engaging with others who share similar values and interests creates a sense of unity and accountability, which can enhance an individual’s well-being. A strong community network acts as a buffer against stress and can significantly improve mental health through collective support.

Effective Communication Strategies

Across various relationships, effective communication strategies are imperative for fostering understanding and connection. This involves actively listening, expressing thoughts clearly, and validating feelings. Utilizing open-ended questions encourages dialogue, while practicing empathy allows individuals to navigate conflicts more constructively. By focusing on non-verbal cues and being mindful of their tone, they can create an environment where all parties feel respected and heard.

Another way to enhance connection is by incorporating active listening techniques, which involve fully concentrating on the speaker, reflecting their feelings back, and asking clarifying questions. This promotes trust and respect within relationships. Furthermore, utilizing “I” statements rather than accusatory language helps convey feelings without placing blame, making conversations more productive. She should also avoid interrupting and allow the other person the space to express themselves. By consciously applying these strategies, individuals can cultivate deeper, more meaningful connections that enrich their lives.

Summing up

So, to create a balanced lifestyle and achieve natural wellness every day, individuals should prioritize a harmonious blend of nutrition, physical activity, mental health, and adequate rest. By incorporating simple yet effective practices into their daily routines, he or she can foster a sustainable approach to well-being. It is imperative for them to explore personal interests, maintain social connections, and practice mindfulness techniques that resonate with them. Ultimately, a commitment to these principles allows for a more fulfilling and health-conscious life journey.

FAQ

Q: What are some key components of a balanced lifestyle?

A: A balanced lifestyle typically includes a combination of physical activity, nutritious eating, mental wellness practices, and adequate rest. Engaging in regular exercise helps maintain physical health, while a varied diet rich in fruits, vegetables, whole grains, and lean proteins provides imperative nutrients. Mental health practices such as mindfulness or meditation can enhance emotional stability, and prioritizing sleep is imperative for recovery and overall well-being.

Q: How can I integrate wellness practices into my daily routine?

A: To effectively integrate wellness practices, start by setting small, achievable goals tailored to your lifestyle. For instance, allocate specific times for exercise, meal prep, or meditation. You might begin with a 10-minute walk during lunch breaks, or setting aside a few minutes each morning for deep breathing exercises. Tracking progress can also help reinforce these habits and create a sense of accomplishment.

Q: What role does nutrition play in achieving natural wellness?

A: Nutrition is foundational in achieving natural wellness as it fuels the body and supports bodily functions. A well-balanced diet can enhance energy levels, improve mood, and reduce the risk of chronic diseases. Emphasizing whole foods, such as vegetables, fruits, lean proteins, and healthy fats, while minimizing processed foods, can lead to better health outcomes. Hydration is equally important, so ensure you drink enough water throughout the day.

Q: How does physical activity contribute to a balanced lifestyle?

A: Physical activity is vital for maintaining an optimal balance in life. It helps regulate mood through the release of endorphins, supports cardiovascular health, aids in weight management, and contributes to better sleep patterns. Whether through structured workouts, recreational sports, or simply walking more, finding enjoyable physical activities can make it easier to incorporate them into your daily routine.

Q: How can stress management techniques improve overall well-being?

A: Stress management techniques can significantly enhance overall well-being by promoting relaxation and reducing the negative impacts of stress on the body and mind. Practices like yoga, meditation, or even simple breathing exercises can foster a sense of calm and improve focus. Regularly engaging in relaxing activities or hobbies can also serve as a stress relief outlet, thereby supporting better mental and emotional health in everyday life.