The benchmark interest rate in Spain is set by the European Central Bank. Most ECB officials agreed that there was a need to signal the necessity of recalibrating the ECB's monetary policy instruments when they meet in December, but cautioned that the central should not pre-commit itself to specific policy actions, the accounts of the October's meeting showed. At the same time, policymakers viewed the existing stimulus measures as effective, but questioned about possible side effects and “diminishing returns” in an environment of high uncertainty and very favorable financial conditions. Overall, members considered the risks surrounding the growth outlook to be clearly tilted to the downside, while headline inflation was now expected to be in negative territory for longer than had been foreseen in the September projections. source: European Central Bank
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 the latest reported value for - Spain Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on November 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.