What is the objective of the Eurosystem?
The main objective of the Eurosystem is to maintain price stability. This objective is enshrined in article 127 of the Treaty on the functioning of the European Union. Price stability is defined as a year-on-year increase of the Harmonised Index of Consumer Prices (HICP), which must be kept below, but close to, 2% in the euro area. Price stability should be maintained over the medium-term.
Without prejudice of the objective of price stability, the Eurosystem supports the general economic policies of the European Union, with the aim of contributing to the realisation of the Union’s objectives.