Who is in charge of the Eurosystem?
Composed of the 6 members of the ECB Executive Board and the governors of the national central banks of the euro area, this council takes decisions on monetary policy with the aim of maintaining price stability in the euro area.
Each member of the Governing Council (including the governor of the National Bank of Belgium) has one vote in the decision-making. The monetary policy decisions are implemented by the national central banks.
Under the Maastricht Treaty, the ECB and the national central banks are independent, notably vis-à-vis the political authorities from whom they may not take any instructions. That autonomy reinforces the Eurosystem’s ability to attain the objective assigned to it: the maintenance of price stability.