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

The ECB held its benchmark refinancing rate at 0 percent on April 26th as expected, and reaffirmed that the net asset purchases are intended to run at a monthly pace of €30 billion until the end of September, or beyond, if necessary. Policymakers agreed that an ample degree of monetary stimulus remains necessary for underlying inflation pressures to continue to build up. The deposit facility rate and the marginal lending facility rate were also kept at -0.4 percent and 0.25 percent, respectively. Interest Rate in the Euro Area averaged 2.02 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 Holds Rates as Expected


The ECB held its benchmark refinancing rate at 0 percent on April 26th as expected, and reaffirmed that the net asset purchases are intended to run at a monthly pace of €30 billion until the end of September, or beyond, if necessary.

The deposit facility rate and the marginal lending facility rate were also left unchanged at -0.4 percent and 0.25 percent, respectively.

Excerpts from the Introductory statement to the press conference by Mario Draghi:

Regarding non-standard monetary policy measures, we confirm that our net asset purchases, at the current monthly pace of €30 billion, are intended to run until the end of September 2018, or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim. The Eurosystem will continue to reinvest the principal payments from maturing securities purchased under the asset purchase programme for an extended period of time after the end of its net asset purchases, and in any case for as long as necessary. This will contribute both to favourable liquidity conditions and to an appropriate monetary policy stance.

Following several quarters of higher than expected growth, incoming information since our meeting in early March points towards some moderation, while remaining consistent with a solid and broad-based expansion of the euro area economy. The underlying strength of the euro area economy continues to support our confidence that inflation will converge towards our inflation aim of below, but close to, 2% over the medium term. At the same time, measures of underlying inflation remain subdued and have yet to show convincing signs of a sustained upward trend. In this context, the Governing Council will continue to monitor developments in the exchange rate and other financial conditions with regard to their possible implications for the inflation outlook. Overall, an ample degree of monetary stimulus remains necessary for underlying inflation pressures to continue to build up and support headline inflation developments over the medium term. This continued monetary support is provided by the net asset purchases, by the sizeable stock of acquired assets and the ongoing and forthcoming reinvestments, and by our forward guidance on interest rates.

The risks surrounding the euro area growth outlook remain broadly balanced. However, risks related to global factors, including the threat of increased protectionism, have become more prominent.

Euro area annual HICP inflation increased to 1.3% in March 2018, from 1.1% in February. This reflected mainly higher food price inflation. On the basis of current futures prices for oil, annual rates of headline inflation are likely to hover around 1.5% for the remainder of the year. Measures of underlying inflation remain subdued overall. Looking ahead, they are expected to rise gradually over the medium term, supported by our monetary policy measures, the continuing economic expansion, the corresponding absorption of economic slack and rising wage growth.


ECB | Joana Ferreira | joana.ferreira@tradingeconomics.com
4/26/2018 12:52:02 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-01-25 12:45 PM ECB Interest Rate Decision 0% 0% 0% 0.0%
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%
2018-05-23 10:00 AM ECB Angeloni Speech
2018-05-24 09:30 AM ECB Praet Speech
2018-05-24 11:30 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 7847027.00 7828669.00 7847027.00 444118.00 EUR Million [+]
Money Supply M2 11286499.00 11273002.00 11286499.00 1070365.00 EUR Million [+]
Money Supply M3 11937261.00 11910800.00 11937261.00 1097238.00 EUR Million [+]
Foreign Exchange Reserves 64.58 63.12 70.57 34.91 USD Billion [+]
Central Bank Balance Sheet 4552564.00 4554344.00 4554344.00 692641.00 EUR Million [+]
Loans to Private Sector 10945273.00 10937421.00 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 3.00 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 May 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 8.00 Apr/18
Mexico 7.50 May/18
Russia 7.25 Apr/18
Brazil 6.50 May/18
India 6.00 Apr/18
Indonesia 4.50 May/18
China 4.35 Apr/18
United States 1.75 May/18
Australia 1.50 May/18
South Korea 1.50 Apr/18
Canada 1.25 Apr/18
United Kingdom 0.50 May/18
Euro Area 0.00 Apr/18
France 0.00 Apr/18
Germany 0.00 Apr/18
Italy 0.00 Apr/18
Netherlands 0.00 Apr/18
Spain 0.00 Apr/18
Japan -0.10 Apr/18
Switzerland -0.75 Apr/18


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