The benchmark interest rate In the Euro Area was last recorded at 2.15 percent. This dataset provides - Euro Area Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

From 2003 to 2025, the central banks of the United States, United Kingdom, and European Union exhibited remarkably similar interest rate patterns, reflecting shared global economic conditions. In the early 2000s, rates were initially low to stimulate growth, then increased as economies showed signs of overheating prior to 2008. The financial crisis that year prompted sharp rate cuts to near-zero levels, which persisted for an extended period to support economic recovery. The COVID-19 pandemic in 2020 led to further rate reductions to historic lows, aiming to mitigate economic fallout. However, surging inflation in 2022 triggered a dramatic policy shift, with the Federal Reserve, Bank of England, and European Central Bank significantly raising rates to curb price pressures. As inflation stabilized in late 2023 and early 2024, the ECB and Bank of England initiated rate cuts by mid-2024. Moreover, the Federal Reserve also implemented its first cut in three years, with forecasts suggesting a gradual decrease in all major interest rates between 2025 and 2026. Divergent approaches within the European Union While the ECB sets a benchmark rate for the Eurozone, individual EU countries have adopted diverse strategies to address their unique economic circumstances. For instance, Hungary set the highest rate in the EU at 13 percent in September 2023, gradually reducing it to 6.5 percent by October 2024. In contrast, Sweden implemented more aggressive cuts, lowering its rate to 2.15 percent by October 2025, the lowest among EU members. These variations highlight the complex economic landscape that European central banks must navigate, balancing inflation control with economic growth support. Global context and future outlook The interest rate changes in major economies have had far-reaching effects on global financial markets. Government bond yields, for example, reflect these policy shifts and investor sentiment. As of October 2025, the United States had the highest 10-year government bond yield among developed economies at 4.09 percent, while Switzerland had the lowest at 0.27 percent. These rates serve as important benchmarks for borrowing costs and economic expectations worldwide.

In June 2024, the European Central Bank (ECB) began reducing its fixed interest rate for the first time since 2016, implementing a series of cuts. The rate decreased from 4.5 percent to 3.15 percent by year-end: a 0.25 percentage point cut in June, followed by additional reductions in September, October, and December. The central bank implemented other cuts in the first half of 2025, setting the rate at 2.15 percent in June 2025. This marked a significant shift from the previous rate hike cycle, which began in July 2022 when the ECB raised rates to 0.5 percent and subsequently increased them almost monthly, reaching 4.5 percent by December 2023 - the highest level since the 2007-2008 global financial crisis. How does this ensure liquidity? Banks typically hold only a fraction of their capital in cash, measured by metrics like the Tier 1 capital ratio. Since this ratio is low, banks prefer to allocate most of their capital to revenue-generating loans. When their cash reserves fall too low, banks borrow from the ECB to cover short-term liquidity needs. On the other hand, commercial banks can also deposit excess funds with the ECB at a lower interest rate. Reasons for fluctuations
The ECB’s primary mandate is to maintain price stability. The Euro area inflation rate is, in theory, the key indicator guiding the ECB's actions. When the fixed interest rate is lower, commercial banks are more likely to borrow from the ECB, increasing the money supply and, in turn, driving inflation higher. When inflation rises, the ECB increases the fixed interest rate, which slows borrowing and helps to reduce inflation.

Graph and download economic data for ECB Deposit Facility Rate for Euro Area (ECBDFR) from 1999-01-01 to 2025-12-02 about overnight, Euro Area, deposits, Europe, and rate.

European Union central banks navigated a complex economic landscape between 2022 and 2025, with interest rates initially rising across member states. However, a pivotal shift occurred in late 2023 as most countries began lowering their rates, reflecting the delicate balance between controlling inflation and supporting economic growth. In the Euro area, the European Central Bank (ECB) led this trend by cutting interest rates from 4.5 percent to nan percent in 2025, implementing four strategic rate reductions throughout the year. This approach was nearly universally adopted, with Poland being the sole EU country not reducing its rates during this period. The ECB continued the series of reductions in the first half of 2025, setting the rate at 2.15 percent in June 2025. Global context and policy shifts The interest rate changes in the EU mirror similar movements in other major economies. The United States, United Kingdom, and European Union central banks followed remarkably similar patterns from 2003 to 2024, responding to shared global economic conditions. After maintaining near-zero rates following the 2008 financial crisis and the COVID-19 pandemic, these institutions sharply raised rates in 2022 to combat surging inflation. By mid-2024, the European Central Bank and Bank of England initiated rate cuts, with the Federal Reserve following suit. Varied approaches within the EU Despite the overall trend, individual EU countries have adopted diverse strategies. Hungary, for instance, set the highest rate in the EU at 12.25 percent in September 2023, gradually reducing it to 6.5 percent by September 2024. In contrast, Sweden implemented the most aggressive cuts, lowering its rate to 1.75 percent by October 2025, the lowest among EU members. These divergent approaches highlight the unique economic challenges faced by each country and the flexibility required in monetary policy to address specific national circumstances.

This dataset provides values for INTEREST RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Table of the evolution of European Central Bank interest rates

The 'ECB Interest Rate Decision' is a key economic event where the European Central Bank (ECB) sets the benchmark interest rates for the EuroZone.

The 'ECB Interest Rate Decision' is a key economic event where the European Central Bank (ECB) sets the benchmark interest rates for the EuroZone.-2026-06-11

Overview with Chart & Report: ECB Interest Rate Decision is announced after the European Central Bank meetings, on which the monetary policy of the euro zone is discussed. The interest rate decisions are taken depending on the

The 'ECB Interest Rate Decision' is a key economic event where the European Central Bank (ECB) sets the benchmark interest rates for the EuroZone.-2026-02-05

Spain ECB Interest Rate: Deposit Facility data was reported at 2.000 % pa in Nov 2025. This stayed constant from the previous number of 2.000 % pa for Oct 2025. Spain ECB Interest Rate: Deposit Facility data is updated monthly, averaging 0.250 % pa from Jan 1999 (Median) to Nov 2025, with 323 observations. The data reached an all-time high of 4.000 % pa in May 2024 and a record low of -0.500 % pa in Jun 2022. Spain ECB Interest Rate: Deposit Facility data remains active status in CEIC and is reported by European Central Bank. The data is categorized under Global Database’s Spain – Table ES.M: Key Interest Rates: European Central Bank.

Graph and download economic data for ECB Marginal Lending Facility Rate for Euro Area (ECBMLFR) from 1999-01-01 to 2025-12-02 about margin, overnight, Euro Area, Europe, loans, and rate.

The 'ECB Interest Rate Decision' is a key economic event where the European Central Bank (ECB) sets the benchmark interest rates for the EuroZone.-2025-10-30

Policy rates applied by the ECB: deposit rate, main refinancing operation, marginal lending rate. The figures are available from 1 January 1999.

ECB Projection: Foreign Exchange Rate: US Dollar data was reported at 1.140 EUR/USD in 2021. This stayed constant from the previous number of 1.140 EUR/USD for 2020. ECB Projection: Foreign Exchange Rate: US Dollar data is updated yearly, averaging 1.140 EUR/USD from Dec 2018 (Median) to 2021, with 4 observations. The data reached an all-time high of 1.180 EUR/USD in 2018 and a record low of 1.140 EUR/USD in 2021. ECB Projection: Foreign Exchange Rate: US Dollar data remains active status in CEIC and is reported by European Central Bank. The data is categorized under Global Database’s European Union – Table EU.M003: European Central Bank: Foreign Exchange Rate: Projection.

In June 2024, the European Central Bank (ECB) reduced the interest rate on its marginal lending facility by 0.25 percentage points, marking the first cut since 2016. Three months later, the ECB implemented another cut, setting the rate at 3.9 percent. It was followed by two further cuts at the end of 2024 and four more in the first half of 2025, the latest one setting the rate at 2.4 percent. The marginal lending rate had previously been adjusted on March 16, 2016, when it was lowered from 0.3 percent to 0.25 percent, remaining unchanged until July 2022, when it was raised to 0.75 percent. After September 2022, the rate saw regular increases, reaching 4.75 percent by April 2024.

Deposit Interest Rate In the Euro Area remained unchanged at 2 percent in October. This dataset provides - Euro Area Deposit Interest Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In June 2024, the European Central Bank (ECB) lowered its deposit facility interest rate for the first time in over two years, marking a shift in its monetary policy stance. This move was followed by a gradual adjustment, with the rate reaching 3.25 percent six months later. By December 2024, the ECB had implemented an additional rate cut, bringing the rate down to three percent. In the first half of 2025, the ECB implemented four further cuts, setting the rate at two percent in June 2025. These reductions came after a prolonged period of steady rate increases, signaling a measured response to evolving economic conditions and a potential recalibration of its approach to support growth and stability.

Belgium ECB Interest Rate: Marginal Lending Facility data was reported at 2.400 % pa in Nov 2025. This stayed constant from the previous number of 2.400 % pa for Oct 2025. Belgium ECB Interest Rate: Marginal Lending Facility data is updated monthly, averaging 1.750 % pa from Jan 1999 (Median) to Nov 2025, with 323 observations. The data reached an all-time high of 5.750 % pa in Apr 2001 and a record low of 0.250 % pa in Jun 2022. Belgium ECB Interest Rate: Marginal Lending Facility data remains active status in CEIC and is reported by European Central Bank. The data is categorized under Global Database’s Belgium – Table BE.M: Key Interest Rates: European Central Bank.