The ECB raised its 3 key interest rates by 50bps during its July 2022 meeting, the first increase since 2011, ending eight years of negative rates, in an attempt to release the inflationary pressures. The main refinancing rate is now at 0.5%, the marginal lending facility at 0.75% and the deposit facility one at 0.00%. The central bank had initially committed to a 25bps rate hike in the June meeting, but inflationary risks continue on the upside and policymakers considered appropriate to take a larger first step. Inflation in the Euro Area continues to march higher and break record rates, showing no signs of peaking, and approaching double-digits. The central bank also said that further normalisation of interest rates will be appropriate in the upcoming meetings. At the same time, the Transmission Protection Instrument (TPI) was approved, aiming to stabilize the bond market. The scale of TPI purchases depends on the severity of the risks and are not restricted ex ante. source: European Central Bank
Interest Rate in the Euro Area averaged 1.70 percent from 1998 until 2022, 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 August of 2022.
Interest Rate in Euro Area is expected to be 0.75 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 1.75 percent in 2023 and 1.50 percent in 2024, according to our econometric models.