Euro Area Interest Rate  1998-2017 | Data | Chart | Calendar | Forecast

The European Central Bank held its benchmark refinancing rate at 0 percent for the tenth consecutive meeting and left the pace of its bond-purchases unchanged on April 27th, as widely expected. Policymakers confirmed the monthly asset purchases will run at the current monthly pace of €80 billion until March, and from April, they are intended to continue at a monthly pace of €60 billion until the end of the year. Both the deposit rate and the lending rate were also left steady at -0.4 percent and 0.25 percent, respectively. Interest Rate in the Euro Area averaged 2.11 percent from 1998 until 2017, reaching an all time high of 4.75 percent in October of 2000 and a record low of 0 percent in March of 2016.

Euro Area Interest Rate
Receive the next reported value for Euro Area Interest Rate in you Inbox



We will not not share your email with third parties and you can unsubscribe at any time.
Please Paste this Code in your Website
Calendar GMT Reference Actual Previous Consensus Forecast (i)
2017-01-19 12:45 PM ECB Interest Rate Decision 0.0% 0.0% 0% 0%
2017-03-09 12:45 PM ECB Interest Rate Decision 0% 0% 0% 0%
2017-04-27 11:45 AM ECB Interest Rate Decision 0% 0% 0% 0%
2017-05-23 03:00 PM ECB Cœuré Speech
2017-05-24 08:30 AM ECB Praet Speech
2017-05-24 12:45 PM ECB Draghi Speech




ECB Is Less Likely To Loosen Policy: Minutes


ECB's policymakers widely agreed that the current monetary policy stance remained appropriate as the outlook for inflation remained fragile while Euro Area's economic recovery was becoming increasingly solid and downside risks had further diminished, minutes from the ECB's April meeting showed. At the same time, the point was made that recourse to non-standard monetary policy measures for providing further accommodation was becoming less likely, in line with the Governing Council’s evolving assessment.

Excerpts from the Account of the monetary policy meeting of the Governing Council of the European Central Bank, held in Frankfurt am Main on Wednesday and Thursday, 26-27 April 2017:

With regard to the monetary policy stance, members widely shared the assessment provided by Mr Praet in his introduction that, while the cyclical recovery of the euro area was becoming increasingly solid and downside risks had further diminished, underlying inflation pressures had remained subdued and had yet to show a convincing upward trend.

In their assessment of the outlook for price stability, members generally agreed that overall growth prospects had further improved. At the same time, it was underlined that, given continued uncertainty, the outlook for inflation remained fragile. While deflation risks had virtually disappeared, underlying inflation remained subdued. Moreover, euro area HICP inflation had been volatile recently, largely on account of energy price developments. 

Hence, from today’s perspective, there was broad agreement among members that the current monetary policy stance remained appropriate. This entailed keeping the ECB’s policy rates unchanged, as well as confirming both the intended pace and horizon of APP purchases and the Governing Council’s forward guidance on policy rates and the asset purchase programme, including the associated “easing biases”. At the same time, the point was made that it could be acknowledged that recourse to these options for providing further accommodation was becoming less likely, in line with the Governing Council’s evolving assessment.

Looking ahead, it was suggested that, if the euro area recovery kept up its momentum and progress was made in attaining a sustained adjustment in the path of inflation, due consideration would need to be given to adjusting the present formulation of the Governing Council’s forward guidance. It was highlighted that, ultimately, the future path of monetary policy in all its elements depended crucially on the Governing Council’s forward-looking in-depth assessment of the outlook for price stability. 

The Governing Council’s communication should be adjusted in a very gradual and cautious manner as, at the current juncture, monetary and financial conditions were particularly sensitive to changes in communication. After a long period of very accommodative monetary conditions, even small and incremental changes in communication could have strong signalling effects when interpreted as heralding a change in the monetary policy stance. A premature and unwarranted tightening of financial conditions could put the prospects of a sustained adjustment in inflation towards the Governing Council’s inflation aim at risk, particularly in an environment of persisting uncertainty.

ECB | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/18/2017 12:18:34 PM



Euro Area Money Last Previous Highest Lowest Unit
Interest Rate 0.00 0.00 4.75 0.00 percent [+]
Interbank Rate -0.37 -0.37 5.39 -0.37 percent [+]
Money Supply M1 7389683.00 7294376.00 7389683.00 444108.00 EUR Million [+]
Money Supply M2 10876141.00 10797860.00 10876141.00 1070357.00 EUR Million [+]
Money Supply M3 11581365.00 11471302.00 11581365.00 1097232.00 EUR Million [+]
Central Bank Balance Sheet 4170588.00 4156826.00 4170588.00 692641.00 EUR Million [+]
Foreign Exchange Reserves 346031.00 344707.00 352397.00 178392.00 USD Million [+]
Loans to Private Sector 10758585.00 10719622.00 11106677.00 3241298.00 EUR Million [+]
Deposit Interest Rate -0.40 -0.40 3.75 -0.40 percent [+]
Lending Rate 0.25 0.25 5.75 0.25 percent [+]
Loan Growth 2.40 2.30 2.40 -0.30 percent [+]


Euro Area Interest Rate Notes

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. . This page provides - Euro Area Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area Interest Rate - actual data, historical chart and calendar of releases - was last updated on May of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.00 4.75 0.00 1998 - 2017 percent Daily



interest rate by Country

Last
Brazil 11.25 Apr/17
Russia 9.25 Apr/17
Turkey 8.00 Apr/17
Mexico 6.75 May/17
India 6.25 Apr/17
Indonesia 4.75 May/17
China 4.35 Apr/17
Australia 1.50 May/17
South Korea 1.25 Apr/17
United States 1.00 May/17
Canada 0.50 Apr/17
United Kingdom 0.25 May/17
Euro Area 0.00 May/17
France 0.00 May/17
Germany 0.00 May/17
Italy 0.00 May/17
Netherlands 0.00 May/17
Spain 0.00 May/17
Japan -0.10 Apr/17
Switzerland -0.75 May/17