The outlook for inflation over the medium term remains subdued and therefore the European Central Bank is very unlikely to raise interest rates next year, ECB President Christine Lagarde said in a news conference following the last Governing Council meeting in Lisbon. In its latest monetary policy meeting, the European Central Bank left monetary policy unchanged and pledged once again to keep interest rates at record-low levels until inflation rises back to the ECB's 2% target by the middle of its projection horizon and holds there on a durable basis. source: European Central Bank

Interest Rate in the Euro Area averaged 1.75 percent from 1998 until 2021, 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 - 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 November of 2021.

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. In the long-term, the Euro Area Interest Rate is projected to trend around 0.10 percent in 2022 and 0.25 percent in 2023, according to our econometric models.

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Euro Area Interest Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-07-22 11:45 AM ECB Interest Rate Decision 0% 0% 0% 0%
2021-09-09 11:45 AM ECB Interest Rate Decision 0.0% 0.0% 0% 0.0%
2021-10-28 11:45 AM ECB Interest Rate Decision 0.0% 0.0% 0% 0.0%
2021-11-22 05:30 PM ECB Guindos Speech
2021-11-23 08:55 AM ECB Hakkarainen Speech
2021-11-23 06:40 PM ECB Guindos Speech


Related Last Previous Unit Reference
Interest Rate 0.00 0.00 percent Oct/21
Money Supply M1 11049882.00 10948089.00 EUR Million Sep/21
Money Supply M2 14456207.00 14349959.00 EUR Million Sep/21
Money Supply M3 15210470.00 15102726.00 EUR Million Sep/21
Central Bank Balance Sheet 8382672.00 8366071.00 EUR Million Nov/21
Foreign Exchange Reserves 73.39 71.29 USD Billion Oct/21
Loans to Private Sector 4872130.00 4859948.00 EUR Million Aug/21
Lending Rate 0.25 0.25 percent Nov/21
Deposit Interest Rate -0.50 -0.50 percent Oct/21
Loan Growth 4.10 4.20 percent Sep/21

News Stream
Lagarde Says ECB Unlikely to Raise Rates in 2022
The outlook for inflation over the medium term remains subdued and therefore the European Central Bank is very unlikely to raise interest rates next year, ECB President Christine Lagarde said in a news conference following the last Governing Council meeting in Lisbon. In its latest monetary policy meeting, the European Central Bank left monetary policy unchanged and pledged once again to keep interest rates at record-low levels until inflation rises back to the ECB's 2% target by the middle of its projection horizon and holds there on a durable basis.
2021-11-03
ECB Leaves Monetary Policy Unchanged as Expected
The European Central Bank left monetary policy unchanged during its October meeting, and pledged once again to keep interest rates at record-low levels until inflation rises back to the ECB's 2% target by the middle of its projection horizon and holds there on a durable basis. Policymakers also said they continue to judge that favorable financing conditions can be maintained with a moderately lower pace of net asset purchases under the PEPP than in the second and third quarters of this year. President Christine Lagarde reiterated the central bank is in no hurry to tighten its policy, even though inflation was widely discussed during the meeting. A recent spike in consumer prices due to ongoing supply disruptions and an unprecedent energy crisis has raised concerns about the central bank's narrative that inflationary pressure is temporary.
2021-10-28
ECB to Maintain Dovish Stance Despite Price Pressure
The European Central Bank is seen keeping monetary policy unchanged on Thursday, with any big decision about the future of its pandemic emergency bond purchase programme to come only in December, amid growing concerns over inflation and slower global growth. Still, President Christine Lagarde is likely to reiterate the central bank is in no hurry to tighten its policy and will try to push back against expectations for an interest rate hike next year, even though inflation is seen hitting 4%, twice the ECB's target. A recent spike in consumer prices due to ongoing supply disruptions and an unprecedent energy crisis has raised concerns about the central bank's narrative that inflationary pressure is temporary and the economy requires depressed borrowing costs.
2021-10-28

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. .