The European Central Bank maintained interest rates at record-high levels for a fifth consecutive time during its April meeting, with the main refinancing operations rate remaining unchanged at a 22-year high of 4.5% and the deposit facility rate holding at an all-time record of 4%. The bloc's central bank also said it may consider reducing the level of policy restriction, if it becomes more confident that inflation is moving steadily toward the 2% target. Officials also acknowledged that inflation has continued to decline, with most measures of underlying inflation and wage growth easing. However, they cautioned that domestic price pressures remain strong, leading to high services price inflation. During the central bank's press conference, President Lagarde told reporters that the ECB is not pre-committing to a particular rate path, and future moves will be data-dependent. source: European Central Bank

The benchmark interest rate In the Euro Area was last recorded at 4.50 percent. Interest Rate in Euro Area averaged 1.81 percent from 1998 until 2024, 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 April of 2024.

The benchmark interest rate In the Euro Area was last recorded at 4.50 percent. Interest Rate in Euro Area is expected to be 4.25 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 2.50 percent in 2025 and 2.25 percent in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-01-25 01:15 PM ECB Interest Rate Decision 4.5% 4.5% 4.5% 4.5%
2024-03-07 01:15 PM ECB Interest Rate Decision 4.5% 4.5% 4.5% 4.5%
2024-04-11 12:15 PM ECB Interest Rate Decision 4.5% 4.5% 4.5% 4.5%
2024-05-03 08:00 AM ECB Survey of Professional Forecasters
2024-05-08 07:00 AM ECB Non-Monetary Policy Meeting
2024-05-22 07:00 AM ECB Non-Monetary Policy Meeting


Related Last Previous Unit Reference
Central Bank Balance Sheet 6593161.00 6596669.00 EUR Million Apr 2024
Deposit Facility Rate 4.00 4.00 percent Apr 2024
Foreign Exchange Reserves 87.01 87.40 USD Billion Feb 2024
ECB Interest Rate 4.50 4.50 percent Apr 2024
Marginal Lending Rate 4.75 4.75 percent Apr 2024
Loans to Households YoY 0.20 0.30 percent Mar 2024
Loans to Non-financial Corporations 5132323.00 5130194.00 EUR Million Mar 2024
Longer-Term Refinancing Operations 397.29 396.22 EUR Billion Mar 2024
Money Supply M0 5052522.00 5202682.00 EUR Million Apr 2024
Money Supply M1 10243652.00 10244771.00 EUR Million Mar 2024
Money Supply M2 15140224.00 15102661.00 EUR Million Mar 2024
Money Supply M3 16190431.00 16114443.00 EUR Million Mar 2024
Refinancing Operations 4.81 7.89 EUR Billion Mar 2024

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
4.50 4.50 4.75 0.00 1998 - 2024 percent Daily

News Stream
ECB Lagarde Confirms Rate Cuts Are Coming Soon
President Lagarde confirmed Tuesday that the ECB will cut rates soon, adding that geopolitical events haven't had a substantial impact on commodity prices. The ECB is observing a disinflationary process that is moving according to expectations and just needs to build a bit more confidence in it, ECB President Christine Lagarde told CNBC. "If it moves according to expectations, if we don’t have a major shock in development, we are heading towards a moment where we have to moderate the restrictive monetary policy. Subject to no development of additional shock, it will be time to moderate the restrictive monetary policy in reasonably short order,” she added. In its April 2024 meeting, the ECB left interest rates steady as expected and signaled it is ready to cut them. Most investors anticipate the first rate reduction in June.
2024-04-16
ECB Holds Rates, Signals Readiness to Cut
The European Central Bank maintained interest rates at record-high levels for a fifth consecutive time during its April meeting, with the main refinancing operations rate remaining unchanged at a 22-year high of 4.5% and the deposit facility rate holding at an all-time record of 4%. The bloc's central bank also said it may consider reducing the level of policy restriction, if it becomes more confident that inflation is moving steadily toward the 2% target. Officials also acknowledged that inflation has continued to decline, with most measures of underlying inflation and wage growth easing. However, they cautioned that domestic price pressures remain strong, leading to high services price inflation. During the central bank's press conference, President Lagarde told reporters that the ECB is not pre-committing to a particular rate path, and future moves will be data-dependent.
2024-04-11
ECB to Maintain Rates Steady, Signal Readiness to Cut
The European Central Bank is anticipated to maintain interest rates at record-high levels for a fifth meeting on Thursday while indicating readiness to start easing in the coming months. It is expected that the main refinancing operations rate will remain at a 22-year high of 4.5%, with the deposit facility rate likely to hold steady at an all-time record of 4%. Investor focus will shift to President Christine Lagarde’s remarks for additional insights into the central bank's policy trajectory, particularly following the reduction in the likelihood of a rate cut by its US counterpart, the Federal Reserve, due to higher-than-expected US inflation and job growth figures. Currently, money markets are pricing in approximately an 80% chance of the first ECB rate cut occurring in June, although the subsequent pace of easing remains uncertain, with Lagarde emphasizing that it will be strictly guided by economic performance.
2024-04-11