Euro Area Interest Rate  1998-2016 | Data | Chart | Calendar | Forecast

The ECB left its benchmark refinancing rate on hold at a record low of 0.0% on April 21st 2016, following a 5bps cut in the previous month and in line with market forecasts. Rates are expected to stay at present or lower levels for an extended period of time, President Mario Draghi said. The asset purchase programme was kept at €80 billion a month but the central bank said will start buying corporate bonds in June. Interest Rate in the Euro Area averaged 2.23 percent from 1998 until 2016, reaching an all time high of 4.75 percent in October of 2000 and a record low of 0 percent in March of 2016. Interest Rate in the Euro Area is reported by the European Central Bank.

Euro Area Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.00 4.75 0.00 1998 - 2016 percent Daily
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. . 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 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-01-21 12:45 PM ECB Interest Rate Decision 0.05% 0.05% 0.05% 0.05%
2016-03-10 12:45 PM ECB Interest Rate Decision 0.00% 0.05% 0.05% 0.05%
2016-04-21 11:45 AM ECB Interest Rate Decision 0.0% 0.0% 0.0% 0.0%
2016-06-01 07:00 AM ECB Lautenschläger Speech
2016-06-02 11:45 AM ECB Interest Rate Decision 0.0% 0.0% 0.0%
2016-06-02 12:30 PM ECB Press Conference

ECB Says Risks to Growth Have Moderated


ECB policymakers agreed risks to growth have moderated but still tilted to the downside and the focus is on implementing the stimulus package announced in March, minutes from the last ECB monetary policy meeting showed. The central bank also reiterated the need for other policy areas to contribute much more decisively, both at national and European levels, in order to reap the full benefits of the ECB’s monetary policy measures.

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, 20-21 April 2016:

Incoming data on the economy pointed to ongoing output growth at a moderate, but steady, pace. However, risks to the growth outlook were still tilted to the downside, while having moderated somewhat. At the same time, HICP inflation remained subdued and was set to persist at low levels for the coming months before gradually picking up, initially due to base effects but later supported by the ECB’s monetary policy measures and the expected economic recovery.

Against this background, there was no need to change the monetary policy stance decided at the last monetary policy meeting, while it was important to focus on the implementation of policy measures. Looking forward, and cross-checking the outcome of the economic analysis with the signals coming from the monetary analysis, it was essential to preserve an appropriate degree of monetary accommodation for as long as needed, reiterating the forward guidance on interest rates and the APP. It was also important to reiterate that the Governing Council would continue to monitor closely the evolution of the outlook for price stability and, if warranted to achieve its objective, act using all the instruments available within its mandate.

Following the discussion of the economic outlook for growth and prices, a broader discussion took place on issues related to the interaction of various policy domains in the euro area, also in view of the low estimates for potential output in the euro area, weak productivity growth, still high unemployment and subdued business investment. Reference was made to various policy initiatives to increase public and private investment and to the role of the central bank in addressing and communicating on structural reforms in particular. Members strongly reiterated the need for other policy areas to contribute much more decisively, both at the national and the European levels, in order to reap the full benefits from the ECB’s monetary policy measures. This echoed recent discussions at the European and global levels referring, inter alia, to the “three-pronged approach” proposed by the IMF in its World Economic Outlook. In particular, members judged that action to raise productivity and improve the business environment, including the provision of an adequate public infrastructure, was vital to increase investment and boost job creation. The swift and effective implementation of structural reforms, in an environment of accommodative monetary policy, not only would lead to higher sustainable economic growth in the euro area, but also would make the euro area more resilient to global shocks.

ECB | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/19/2016 1:34:49 PM

Euro Area Money Last Previous Highest Lowest Unit
Interest Rate 0.00 0.00 4.75 0.00 percent [+]
Interbank Rate -0.28 -0.28 5.39 -0.28 percent [+]
Money Supply M1 6766613.00 6716065.00 6766613.00 444072.00 EUR Million [+]
Money Supply M2 10356901.00 10311428.00 10356901.00 1070326.00 EUR Million [+]
Money Supply M3 10998364.00 10967912.00 10998364.00 1097360.00 EUR Million [+]
Foreign Exchange Reserves 338548.00 335938.00 340247.00 178392.00 USD Million [+]
Central Bank Balance Sheet 3054101.00 3032840.00 3102227.00 692641.00 EUR Million [+]
Loans to Private Sector 10645058.00 10658563.00 11104492.00 3241223.00 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 1.60 1.60 2.30 -0.30 percent [+]




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Malaysia 3.25 May/16
Guatemala 3.00 Apr/16
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Belize 2.50 Apr/16
Croatia 2.50 Apr/16
Cameroon 2.45 Apr/16
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Chad 2.45 Apr/16
Equatorial Guinea 2.45 Apr/16
Gabon 2.45 Apr/16
Republic of the Congo 2.45 Apr/16
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Morocco 2.25 Apr/16
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Thailand 1.50 May/16
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Oman 1.00 Apr/16
Hungary 0.90 May/16
Bahrain 0.75 Apr/16
Hong Kong 0.75 Apr/16
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Canada 0.50 May/16
Fiji 0.50 Apr/16
Norway 0.50 May/16
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United States 0.50 Apr/16
Panama 0.44 Feb/16
Singapore 0.41 Apr/16
New Caledonia 0.30 Apr/16
Israel 0.10 May/16
Czech Republic 0.05 May/16
Austria 0.00 Apr/16
Belgium 0.00 Apr/16
Bulgaria 0.00 May/16
Cyprus 0.00 Apr/16
Estonia 0.00 Apr/16
Euro Area 0.00 Apr/16
Finland 0.00 Apr/16
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Ireland 0.00 Apr/16
Italy 0.00 Apr/16
Latvia 0.00 Apr/16
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Spain 0.00 Apr/16
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