Euro Area Interest Rate  1998-2018 | Data | Chart | Calendar | Forecast

The ECB held its benchmark refinancing rate at 0 percent on June 14th and said the monthly pace of the net asset purchases will be reduced to €15 billion from September to December 2018, and will then end. The central bank also said it expects key interest rates to remain unchanged at least through the summer of 2019. Interest Rate in the Euro Area averaged 2.01 percent from 1998 until 2018, reaching an all time high of 4.75 percent in October of 2000 and a record low of 0 percent in March of 2016.

Euro Area Interest Rate
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ECB Announces an End to its Bond Buying Programme


The ECB held its benchmark refinancing rate at 0 percent on June 14th and said the monthly pace of the net asset purchases will be reduced to €15 billion from September to December 2018, and will then end. The central bank also said it expects key interest rates to remain unchanged at least through the summer of 2019.

The ECB cut its growth forecast for 2018 (2.1 percent vs 2.4 percent in the March projection), while that for 2019 and 2020 was unchanged at 1.9 percent and 1.7 percent respectively. Meanwhile, inflation is now expected at 1.7 percent for both 2018 and 2019, way above a previous estimate of 1.4 percent.

ECB Statement:

At today’s meeting, which was held in Riga, the Governing Council of the ECB undertook a careful review of the progress towards a sustained adjustment in the path of inflation, also taking into account the latest Eurosystem staff macroeconomic projections, measures of price and wage pressures, and uncertainties surrounding the inflation outlook.

Based on this review the Governing Council made the following decisions:

First, as regards non-standard monetary policy measures, the Governing Council will continue to make net purchases under the asset purchase programme (APP) at the current monthly pace of €30 billion until the end of September 2018. The Governing Council anticipates that, after September 2018, subject to incoming data confirming the Governing Council’s medium-term inflation outlook, the monthly pace of the net asset purchases will be reduced to €15 billion until the end of December 2018 and that net purchases will then end.

Second, the Governing Council intends to maintain its policy of reinvesting the principal payments from maturing securities purchased under the APP for an extended period of time after the end of the net asset purchases, and in any case for as long as necessary to maintain favourable liquidity conditions and an ample degree of monetary accommodation.

Third, the Governing Council decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively. The Governing Council expects the key ECB interest rates to remain at their present levels at least through the summer of 2019 and in any case for as long as necessary to ensure that the evolution of inflation remains aligned with the current expectations of a sustained adjustment path.

Today’s monetary policy decisions maintain the current ample degree of monetary accommodation that will ensure the continued sustained convergence of inflation towards levels that are below, but close to, 2% over the medium term.


ECB | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/14/2018 1:20:43 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-03-08 12:45 PM ECB Interest Rate Decision 0% 0% 0% 0.0%
2018-04-26 11:45 AM ECB Interest Rate Decision 0% 0% 0% 0.0%
2018-06-14 11:45 AM ECB Interest Rate Decision 0.0% 0.0% 0.0% 0.0%
2018-06-19 08:00 AM ECB President Draghi Speech
2018-06-19 08:30 AM ECB Praet Speech
2018-06-19 11:00 AM ECB Praet Speech


Euro Area Money Last Previous Highest Lowest Unit
Interest Rate 0.00 0.00 4.75 0.00 percent [+]
Interbank Rate -0.35 -0.35 5.39 -0.39 percent [+]
Money Supply M1 7874435.00 7850072.00 7874435.00 444118.00 EUR Million [+]
Money Supply M2 11303898.00 11287281.00 11303898.00 1070365.00 EUR Million [+]
Money Supply M3 11972038.00 11939233.00 11972038.00 1097238.00 EUR Million [+]
Foreign Exchange Reserves 66.84 64.58 70.57 34.91 USD Billion [+]
Central Bank Balance Sheet 4561577.00 4562061.00 4562061.00 692641.00 EUR Million [+]
Loans to Private Sector 10968467.00 10947909.00 11106677.00 3241298.00 EUR Million [+]
Deposit Interest Rate -0.40 -0.40 3.75 -0.40 percent [+]
Lending Rate 0.25 0.25 5.75 0.25 percent [+]
Loan Growth 2.90 2.90 9.90 -0.30 percent [+]


Euro Area Interest Rate

In the Euro Area, benchmark interest rate is set by the Governing Council of the European Central Bank. The primary objective of the ECB’s monetary policy is to maintain price stability which is to keep inflation below, but close to 2 percent over the medium term. In times of prolonged low inflation and low interest rates, ECB may also adopt non-standard monetary policy measures, such as asset purchase programmes. The official interest rate is the Main refinancing operations rate. . This page provides - Euro Area Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area Interest Rate - actual data, historical chart and calendar of releases - was last updated on June of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.00 4.75 0.00 1998 - 2018 percent Daily




interest rate by Country
Country Last
Turkey 17.75 Jun/18
Mexico 7.50 May/18
Russia 7.25 Jun/18
Brazil 6.50 May/18
India 6.25 Jun/18
Indonesia 4.75 May/18
China 4.35 May/18
United States 2.00 Jun/18
Australia 1.50 Jun/18
South Korea 1.50 May/18
Canada 1.25 May/18
United Kingdom 0.50 May/18
Euro Area 0.00 Jun/18
France 0.00 Jun/18
Germany 0.00 Jun/18
Italy 0.00 Jun/18
Netherlands 0.00 Jun/18
Spain 0.00 Jun/18
Japan -0.10 Jun/18
Switzerland -0.75 May/18


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