The European Central Bank revised its forward guidance on interest rates during its July meeting, saying it expects interest rates to remain at their present or lower levels until it sees inflation reaching 2 percent well ahead of the end of its projection horizon and durably for the rest of the projection horizon, and it judges that realized progress in underlying inflation is sufficiently advanced to be consistent with inflation stabilizing at 2 percent over the medium term. Also, the central bank retained the pace of asset purchases programme at €20 billion per month, reiterating that the PEPP envelope can be recalibrated if required, while confirming it will be reinvesting maturing PEPP bonds at least through the end-2023. source: European Central Bank

Interest Rate in the Euro Area averaged 1.76 percent from 1998 until 2021, reaching an all time high of 4.75 percent in October of 2000 and a record low of 0 percent in March of 2016. This page provides - Euro Area Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.

Interest Rate in Euro Area is expected to be 0.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Euro Area to stand at 0.00 in 12 months time. In the long-term, the Euro Area Interest Rate is projected to trend around 0.00 percent in 2022, according to our econometric models.

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Euro Area Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.00 4.75 0.00 1998 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2021-03-11 12:45 PM ECB Interest Rate Decision 0% 0% 0% 0%
2021-04-22 11:45 AM ECB Interest Rate Decision 0% 0% 0% 0%
2021-06-10 11:45 AM ECB Interest Rate Decision 0.0% 0.0% 0% 0.0%
2021-07-22 11:45 AM ECB Interest Rate Decision 0% 0% 0% 0%
2021-09-09 11:45 AM ECB Interest Rate Decision
2021-09-09 12:30 PM ECB Press Conference
2021-09-22 08:00 AM ECB Non-Monetary Policy Meeting
2021-09-23 08:00 AM ECB General Council Meeting


News Stream
ECB Revises Forward Guidance on Rates
The European Central Bank revised its forward guidance on interest rates during its July meeting, saying it expects interest rates to remain at their present or lower levels until it sees inflation reaching 2 percent well ahead of the end of its projection horizon and durably for the rest of the projection horizon, and it judges that realized progress in underlying inflation is sufficiently advanced to be consistent with inflation stabilizing at 2 percent over the medium term. Also, the central bank retained the pace of asset purchases programme at €20 billion per month, reiterating that the PEPP envelope can be recalibrated if required, while confirming it will be reinvesting maturing PEPP bonds at least through the end-2023.
2021-07-22
ECB to Promise More Stimulus, Tweak Guidance
The European Central Bank is set to pledge to a longer period of monetary stimulus when it meets today. It will be the first meeting since the bank unveiled its new strategy, targeting inflation at 2%, and even allowing it to run higher or lower that level for a brief period. Also, when deciding on monetary policy officials are likely to be more considerate of climate risks and some housing costs. Although no new measures are expected to be announced for now, ECB chief Christine Lagarde signaled "interesting changes" on the bank's guidance that will set the stage for a series of decisions, including the future of the Pandemic Emergency Purchase Programme (PEPP). She has also promised "shorter, crisper" policy statements to facilitate communication.
2021-07-22
Lagarde Signals Changes in ECB Policy in July
ECB monetary policy meeting on July 22nd will be an important meeting as the central bank will communicate differently, in a more clear way, and will review its forward guidance to align it with the new strategy, ECB President Christine Lagarde said to Bloomberg. Last week, the ECB announced its first strategy review since 2003, which included a 2% inflation target over the medium term, compared to previous below but close to 2% and the inclusion of climate change considerations in monetary policy operations. Lagarde also said the ECB will continue to maintain sustainable financial conditions and support the economy and that now it's not the right time to talk about an exit strategy.
2021-07-12
Financing Conditions Too Fragile to Cut Stimulus: ECB
ECB policymakers discussed a cut in stimulus during the last monetary policy meeting in June, but concluded that financing conditions were too fragile to allow a meaningful reduction in the pace of purchases without risking a disorderly rise in yields, meeting minutes showed. As a result, a slowing of the pace of purchases for the next quarter was seen as inappropriate. The ECB also noted that if the outlook for growth and inflation improves, asset purchases should be scaled back somewhat but also warned that even an increase in asset purchases could be justified if inflation falls short of expectations. The ECB left monetary policy unchanged during its June meeting, saying it expects net purchases under the PEPP over the coming quarter to continue to be conducted at a significantly higher pace than during the first months of the year. It also revised up GDP projections for 2021 and 2022 to 4.6% and 4.7%, respectively.
2021-07-09

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. .