The ECB, or European Central Bank, is the central bank for the eurozone, which includes countries that use the euro as their currency. Established in 1998, its main role is to maintain price stability and manage monetary policy for the euro area. This means it aims to keep inflation low and stable, ensuring that the economy functions smoothly. The ECB also supervises banks in the eurozone to ensure they are safe and sound. By doing this, it helps protect the financial system and supports economic growth. The ECB works closely with other institutions, such as the European Union and the European Banking Authority, to achieve its goals.