The Eurozone economic recovery remains incomplete, uncertain and uneven, and is highly dependent on the evolution of the COVID-19 pandemic and the success of containment policies, ECB President Christine Lagarde told the European Parliament’s ECON committee on September 28th. Lagarde also said that Euro Area real GDP is only expected to recover to pre-crisis levels in late 2022, and that the public health crisis will continue to weigh on economic activity and poses downside risks to the economic outlook. The ECB president reiterated that the bank stands ready to adjust all of its instruments to ensure that inflation moves towards its aim in a sustained manner. On September 10th, the ECB kept its main refinancing rate unchanged at 0% and pledged to buy up to €1.35 trillion worth of debt through June 2021 under its Pandemic Emergency Purchase Programme.
Interest Rate in the Euro Area averaged 1.82 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 - Portugal Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020.
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.