The European Central Bank left interest rates unchanged at its October 2026 meeting, as expected, keeping the main refinancing rate at 2.65% and the deposit facility rate at 2.50%. The central bank warned that elevated energy prices could fuel inflation while weighing on economic activity, particularly if indirect and second-round effects intensify. However, underlying inflation remains broadly stable, with no significant wage response so far. While policymakers offered no clear guidance on the future rate path, the ECB noted that higher borrowing costs across Europe could further dampen growth and inflation. The announcement came hours after ECB President Christine Lagarde reportedly announced plans to step down early, potentially triggering a major leadership transition amid heightened volatility in French bond markets and persistently high energy prices. At the post-meeting press conference, Lagarde confirmed the ECB discussed a rate hike but unanimously agreed to hold rates steady. 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 1.89 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 October 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 2.90 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 3.15 percent in 2027 and 2.65 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
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%
2026-10-29 01:15 PM ECB Interest Rate Decision 2.65% 2.65% 2.65% 2.65%
2026-11-18 08:00 AM ECB Non-Monetary Policy Meeting
2026-11-26 12:30 PM ECB Monetary Policy Meeting Accounts
2026-12-03 08:00 AM ECB General Council Meeting


Related Last Previous Unit Reference
Central Bank Balance Sheet 5934983.00 5935346.00 EUR Million Oct 2026
Deposit Facility Rate 2.50 2.50 percent Oct 2026
Foreign Exchange Reserves 119.88 121.42 USD Billion Sep 2026
ECB Interest Rate 2.65 2.65 percent Oct 2026
Marginal Lending Rate 2.90 2.90 percent Oct 2026
Loans to Households YoY 3.10 3.10 percent Sep 2026
Loans to Non-financial Corporations 5518191.00 5499920.00 EUR Million Sep 2026
Longer-Term Refinancing Operations 16.19 16.19 EUR Billion Oct 2026
Money Supply M0 3954615.00 3982652.00 EUR Million Sep 2026
Money Supply M1 11333724.00 11296114.00 EUR Million Sep 2026
Money Supply M2 16491926.00 16449710.00 EUR Million Sep 2026
Money Supply M3 17717267.00 17647597.00 EUR Million Sep 2026
Refinancing Operations 19.25 18.51 EUR Billion Oct 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 2.65 4.75 0.00 1998 - 2026 percent Daily

News Stream
ECB Holds Rates Amid Inflation and Growth Risks
The European Central Bank left interest rates unchanged at its October 2026 meeting, as expected, keeping the main refinancing rate at 2.65% and the deposit facility rate at 2.50%. The central bank warned that elevated energy prices could fuel inflation while weighing on economic activity, particularly if indirect and second-round effects intensify. However, underlying inflation remains broadly stable, with no significant wage response so far. While policymakers offered no clear guidance on the future rate path, the ECB noted that higher borrowing costs across Europe could further dampen growth and inflation. The announcement came hours after ECB President Christine Lagarde reportedly announced plans to step down early, potentially triggering a major leadership transition amid heightened volatility in French bond markets and persistently high energy prices. At the post-meeting press conference, Lagarde confirmed the ECB discussed a rate hike but unanimously agreed to hold rates steady.
2026-10-29
ECB Poised to Hold Rates as Traders Look Ahead to December
The European Central Bank is widely expected to keep interest rates unchanged on Thursday, maintaining its main refinancing rate at 2.65% and the deposit facility rate at 2.5%, as policymakers adopt a wait-and-see approach amid rising inflation and the effects of previous tightening. The decision comes amid France’s fiscal and political turmoil, which has fueled volatility across European bond markets. Rising bond yields increase borrowing costs, potentially weighing on economic activity and easing inflationary pressures, which could reduce the need for further ECB tightening. With an October rate hold largely priced in, investors will focus on President Christine Lagarde’s press conference for clues about the policy outlook. Markets continue to anticipate a rate hike by December, with two increases fully priced in by April 2027.
2026-10-29
ECB Keeps Rate Path Open Amid Inflation Uncertainty: Minutes
ECB policymakers saw inflation risks skewed to the upside when they delivered their first rate hike since 2023 at the September meeting, but stressed the importance of not signaling any further policy moves and keeping all options open, according to the meeting accounts released Thursday. Officials warned that eurozone inflation could come in higher than projected, but stressed the importance of avoiding guidance on the future interest-rate path given the high uncertainty surrounding the inflation outlook and range of possible scenarios due to the ongoing fighting between the US and Iran, as well as Russia’s war in Ukraine. The ECB also noted that while the policy response should remain proportionate, the 2.50% deposit rate remained within staff estimates of the neutral range.
2026-10-08