Monetary Policy

Monetary policy

On 1 January 2008, Malta officially adopted the euro as its national currency. The Central Bank of Malta thus became a member of the Eurosystem, with the primary objective to maintain price stability, in accordance with the Treaty on the Functioning of the European Union and the Statute of the European System of Central Banks (ESCB) and of the European Central Bank (ECB).

The Central Bank of Malta contributes to monetary policy decisions affecting the euro area through the participation of the Governor in the Governing Council of the ECB. The Bank is also responsible for the implementation of these decisions in Malta, using a range of monetary policy instruments approved by the Governing Council of the ECB.