a very annoying catch phrase, normally said by immature freshmen, that is used to down-play the fact that the speaker of the phrase isn't as good at something as they claim they are. It is also used to annoy the crap out of everyone around them because the speaker could not think of something more intelligent to say.
In the European Union, the EUROPEAN CENTRAL BANK (ECB) is responsible for monetary policy in general and for setting interest rates in particular for member countries of the ECONOMIC AND MONETARY UNION (EMU). The ECB has committed itself to a âtarget'for INFLATION of no more than 2% per annum.
The ECB, which is based in Frankfurt, Germany, issues currency, sets interest rates, and oversees other aspects of monetary policy for the EMU. The EMU's National Central Banks (such as the Banque de France and the Deutsche Bundesbank), together with the ECB, form the European System of Central Banks. They play an important role in implementing monetary policy, conducting foreign exchange operations, and maintaining the foreign reserves of member states.