The European Central Bank raised its key interest rates by 25 bps at its September meeting, marking its second hike since the US-Iran war began. The ECB said the conflict in the Middle East continues to fuel inflationary pressures, with inflation expected to remain well above its 2% target for an extended period. The main refinancing rate was raised to 2.65%, while the deposit rate increased to 2.5%. Meanwhile, the ECB kept its 2026 inflation forecast at 3.0% but revised its projections higher for 2027 and 2028, to 2.5% and 2.1%, respectively. Growth forecasts were upgraded to 0.9% for 2026 and 1.4% for 2027, reflecting greater-than-expected resilience in the euro area economy, while the 2028 forecast remained unchanged at 1.5%. At a press conference following the meeting, ECB President Christine Lagarde said risks to growth are tilted to the downside, while inflation risks are currently tilted to the upside, reiterating that future decisions will be made on a meeting-by-meeting basis. source: European Central Bank

The benchmark interest rate In the Euro Area was last recorded at 2.65 percent. Interest Rate in Euro Area averaged 1.88 percent from 1998 until 2026, reaching an all time high of 4.75 percent in October of 2000 and a record low of 0.00 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 September of 2026.

The benchmark interest rate In the Euro Area was last recorded at 2.65 percent. Interest Rate in Euro Area is expected to be 2.65 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Interest Rate is projected to trend around 2.40 percent in 2027 and 2.15 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-06-11 12:15 PM ECB Interest Rate Decision 2.4% 2.15% 2.4% 2.4%
2026-07-23 12:15 PM ECB Interest Rate Decision 2.4% 2.4% 2.4% 2.4%
2026-09-10 12:15 PM ECB Interest Rate Decision 2.65% 2.4% 2.65% 2.65%
2026-09-30 07:00 AM ECB Non-Monetary Policy Meeting
2026-10-01 07:00 AM ECB General Council Meeting
2026-10-08 11:30 AM ECB Monetary Policy Meeting Accounts


Related Last Previous Unit Reference
Central Bank Balance Sheet 5912178.00 5915343.00 EUR Million Sep 2026
Deposit Facility Rate 2.50 2.25 percent Sep 2026
Foreign Exchange Reserves 116.35 116.77 USD Billion Jul 2026
ECB Interest Rate 2.65 2.40 percent Sep 2026
Marginal Lending Rate 2.90 2.65 percent Sep 2026
Loans to Households YoY 3.10 3.00 percent Jul 2026
Loans to Non-financial Corporations 5489668.00 5466068.00 EUR Million Jul 2026
Longer-Term Refinancing Operations 14.31 14.31 EUR Billion Sep 2026
Money Supply M0 3982652.00 4022418.00 EUR Million Jul 2026
Money Supply M1 11292842.00 11324679.00 EUR Million Jul 2026
Money Supply M2 16436438.00 16416939.00 EUR Million Jul 2026
Money Supply M3 17613983.00 17615006.00 EUR Million Jul 2026
Refinancing Operations 13.87 18.01 EUR Billion Sep 2026


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.
Actual Previous Highest Lowest Dates Unit Frequency
2.65 2.40 4.75 0.00 1998 - 2026 percent Daily

News Stream
ECB Raises Rates as Expected as Inflation Risks Mount
The European Central Bank raised its key interest rates by 25 bps at its September meeting, marking its second hike since the US-Iran war began. The ECB said the conflict in the Middle East continues to fuel inflationary pressures, with inflation expected to remain well above its 2% target for an extended period. The main refinancing rate was raised to 2.65%, while the deposit rate increased to 2.5%. Meanwhile, the ECB kept its 2026 inflation forecast at 3.0% but revised its projections higher for 2027 and 2028, to 2.5% and 2.1%, respectively. Growth forecasts were upgraded to 0.9% for 2026 and 1.4% for 2027, reflecting greater-than-expected resilience in the euro area economy, while the 2028 forecast remained unchanged at 1.5%. At a press conference following the meeting, ECB President Christine Lagarde said risks to growth are tilted to the downside, while inflation risks are currently tilted to the upside, reiterating that future decisions will be made on a meeting-by-meeting basis.
2026-09-10
ECB Expected to Hike Again as Inflation Stays Elevated
The European Central Bank is expected to raise its key interest rates by 25 basis points on Thursday, marking the second hike since the US-Iran war began, while signaling caution over further increases that could weigh on economic activity. The main refinancing rate is expected to rise to 2.65%, and the deposit rate to 2.5%. Eurozone inflation accelerated to 3.3% in August, its highest level in three years and well above the ECB’s 2% target. However, there have been few signs of the second-round inflation effects policymakers typically fear when energy prices surge, as they have since the war closed the Strait of Hormuz. Economists remain unconvinced that further tightening will be necessary, warning that additional hikes could risk recession. Interest-rate futures, however, are pricing in a third hike by December, while policymakers continue to flag upside risks to inflation and the recent rise in bond yields adds further uncertainty to the policy outlook.
2026-09-10
ECB Sees Future Hike as Likely as Inflation Risks Persist
All ECB policymakers agreed to leave rates unchanged at the July meeting, following the first rate hike since 2023 in June, citing elevated uncertainty and the fact that the full inflationary impact of the energy shock had yet to emerge, according to the latest minutes. However, some said they would not have opposed another hike, noting that the likelihood of further tightening becoming unnecessary remained low. Policymakers saw upside risks to inflation and downside risks to growth from geopolitical developments in the Middle East and the Russia-Ukraine war, while stressing that communication should remain clear to avoiding any pre-commitment to a September move. The minutes emphasized that the July pause should not be interpreted as the end of the tightening cycle, with another hike likely unless the inflation outlook improves significantly. At the same time, policymakers wanted to keep the September decision open, allowing room for the medium-term inflation outlook to improve.
2026-08-27