The focus of this report is the lattice calculation of hadronic parameters relevant to heavy flavour phenomenology. I will review recent results and the current status of studies of the B and D decay constants, semileptonic decay form factors, B^0-\bar B^0 mixing, and determinations of the quark masses m_c and m_b. Some studies of heavy flavour observables have used current lattice results to derive Standard Model predictions that seem to disagree with experimental measurements. That is the case, for example, of sin(2��) and f_{D_s}. This report discusses efforts to resolvethe origin of those discrepancies from the lattice side.

22 pages; Plenary talk at Lattice 2008. References added