The European Central Bank launched a new backstop facility on June 25th to provide precautionary euro repo lines to central banks outside the euro area in response to the coronavirus crisis. The Eurosystem repo facility for central banks (EUREP) will be available until June 2021 and will address possible euro liquidity needs in case of market dysfunction resulting from the COVID-19 shock that might adversely impact the smooth transmission of ECB monetary policy. On June 6th, the ECB expanded its pandemic emergency purchase programme by €600 billion to a total of €1.35 trillion, more than an expected €500 billion increase, and extended it to at least June 2021. The rate on the ECB's Main Refinancing Operations, which banks can tap to obtain one-week credit from the central bank, was left at 0 percent while the rate on overnight liquidity was fixed at 0.25 percent. The bank's Deposit Facility Rate was left at -0.5 percent.

Interest Rate in the Euro Area averaged 1.84 percent from 1998 until 2020, 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 2020. source: European Central Bank

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 2021, 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 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-01-23 12:45 PM ECB Interest Rate Decision 0% 0% 0% 0%
2020-03-12 12:45 PM ECB Interest Rate Decision 0% 0% 0% 0%
2020-04-30 11:45 AM ECB Interest Rate Decision 0% 0% 0% 0%
2020-06-04 11:45 AM ECB Interest Rate Decision 0% 0% 0% 0%
2020-07-14 08:00 AM ECB Bank Lending Survey
2020-07-16 11:45 AM ECB Interest Rate Decision 0% 0% 0%
2020-07-16 12:30 PM ECB Press Conference
2020-07-17 08:30 AM ECB Schnabel Speech


News Stream
ECB Ready to Withdraw Stimulus When Pandemic Eases
ECB officials signaled readiness to unwind monetary stimulus once the pandemic shock to the inflation path subsides, saying the monetary stance could again be controlled by calibrating the Governing Council's pre-crisis suite of policy instruments, the accounts of the June 4-5 meeting showed. Policymakers also agreed that it was better to tackle the substantial downward shift in the inflation outlook through a targeted and temporary programme (the PEPP), rather than a recalibration of the existing policy package.
2020-06-25
ECB Launches Euro Repo Lines
The European Central Bank launched a new backstop facility on June 25th to provide precautionary euro repo lines to central banks outside the euro area in response to the coronavirus crisis. The Eurosystem repo facility for central banks (EUREP) will be available until June 2021 and will address possible euro liquidity needs in case of market dysfunction resulting from the COVID-19 shock that might adversely impact the smooth transmission of ECB monetary policy. On June 6th, the ECB expanded its pandemic emergency purchase programme by €600 billion to a total of €1.35 trillion, more than an expected €500 billion increase, and extended it to at least June 2021. The rate on the ECB's Main Refinancing Operations, which banks can tap to obtain one-week credit from the central bank, was left at 0 percent while the rate on overnight liquidity was fixed at 0.25 percent. The bank's Deposit Facility Rate was left at -0.5 percent.
2020-06-25
ECB Lagarde Pledges for EU Stimulus
Measures taken by the ECB in March were critical in removing the tail risk of the COVID-19 pandemic and will continue to be crucial in supporting the return of inflation towards the 2% target, President Christine Lagarde said before the Committee on Economic and Monetary Affairs of the European Parliament on Monday. Lagarde reinforced the ECB is determined and ready to adjust all of its instruments, as appropriate, to support the economy but warned that it is important to adopt quickly the European Commission’s proposal for a revised EU long-term budget to give more certainty and confidence to citizens, businesses and financial markets and that any delay risks generating negative spillovers and driving up the costs, and hence the financing needs, of this crisis.
2020-06-08
ECB Expands PEPP by €600 Billion
The European Central Bank expanded its pandemic emergency purchase programme by €600 billion to a total of €1.35 trillion during its June meeting, more than an expected €500 billion increase, and extended it to at least June 2021. Policymakers also said that PEPP proceeds will be reinvested at least until end-2022. The latest move aims to help mitigate the negative impact of the coronavirus crisis and to create fiscal room for governments to support their economies. Still, investors were hoping that the central bank would announce an expansion of its bond-buying programme to include junk-rated bonds. The rate on the ECB's Main Refinancing Operations, which banks can tap to obtain one-week credit from the central bank, was left at 0 percent while the rate on overnight liquidity was fixed at 0.25 percent. The bank's Deposit Facility Rate was left at -0.5 percent.
2020-06-04

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. .