No major changes in the current policy stance are expected from the ECB today but the central bank is likely to hint at when more stimulus will be added through the pandemic emergency purchase programme. Most investors believe the central bank will wait until December for a policy change. The ECB will also release new economic projections. Since its last meeting, data pointed to a slowing of the recovery, the euro has appreciated and the Euro Area slipped into deflation. Traders will also monitor President Lagarde’s press conference, looking for comments on the Fed’s new average inflation target and recent euro strength. On September 1st, the Euro touched $1.2, the strongest since May of 2018, amid a broad dollar weakness and increasing optimism about a fast recovery from the pandemic. The ECB kept its main refinancing rate unchanged at 0% in July and pledged to buy up to €1.35 trillion worth of debt through June 2021.
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 September of 2020. source: European Central Bank
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.