Euro Area Interest Rate 1998-2015 | Data | Chart | Calendar | Forecast

The ECB left its benchmark refinancing rate unchanged at a record low 0.05% on September 3rd, 2015 as widely expected. The interest rates on the marginal lending facility and the deposit facility were also left on hold at 0.30 percent and -0.20 percent respectively. Interest Rate in the Euro Area averaged 2.31 percent from 1998 until 2015, reaching an all time high of 4.75 percent in October of 2000 and a record low of 0.05 percent in September of 2014. 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
0.05 0.05 4.75 0.05 1998 - 2015 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. Content for - Euro Area Interest Rate - was last refreshed on Tuesday, October 13, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-10-06 08:00 AM
2015-10-06 06:00 PM
2015-10-08 12:30 PM
2015-10-22 12:45 PM 0.05% 0.05%
2015-10-22 01:30 PM
2015-12-03 12:45 PM 0.0500%

ECB Lowers Growth Forecasts, Shows Concerns over China

ECB policymakers expect the Euro Area economy to recover at a slower pace, hurt by a slowdown in China and emerging markets although they were not sure yet about the severity of the impact, minutes from last monetary policy meeting showed. GDP growth projections for the Euro Area were lowered to 1.4 percent in 2015, 1.7 percent in 2016 and 1.8 percent in 2017.

Excerpts from the Account of the monetary policy meeting of the Governing Council of the European Central Bank, held in Frankfurt am Main on 2-3 September 2015:

Real GDP growth in the second quarter of 2015 had been weaker than expected, while recent economic data, including survey evidence available up to August, were seen as broadly consistent with a continued moderate economic recovery in the euro area. However, the recovery was now expected to proceed at a somewhat weaker pace than previously anticipated. While domestic demand in the euro area appeared to be relatively resilient, since the Governing Council meeting in mid-July some further weakness had been evident in the international environment. The slowdown in activity in emerging market economies, in particular, was weighing on global growth and trade, leading to lower growth in foreign demand for euro area exports.

It was noted that a slowdown in the growth of world trade had been observed for some time, with signs of a lower trade elasticity of global growth possibly pointing to a structural change since the onset of the financial crisis. It was therefore likely that the recent slowdown reflected a combination of both structural and cyclical factors. In addition, uncertainty arising from developments in economic and financial conditions in emerging market economies, particularly China, had clearly increased. It was emphasised that the interpretation of the latest developments in China was very challenging, and more time and analysis were needed to better understand these developments and their implications for the euro area from a medium-term perspective. 

All in all, it was considered too early to say whether recent external developments would have a material effect on the euro area, but the downside risks had clearly increased and there was a need to carefully monitor developments and policies outside the euro area.

Taking into account the views expressed by the Governing Council, the President concluded that it remained premature to judge whether recent developments would have a lasting impact on the medium-term outlook for price stability. Accordingly, close monitoring of all relevant information was warranted. At the same time, the Governing Council remained willing and able to act, if necessary, by using all available tools within its mandate, including the flexibility of its asset purchase programmes in terms of adjusting their size, composition and duration. There was also wide agreement for stressing that the monthly asset purchases of €60 billion would be fully implemented until the end of September 2016, and beyond, if necessary, and, in any case, until a sustained adjustment in the path of inflation, consistent with the Governing Council’s aim of achieving inflation rates below, but close to, 2% over the medium term, was visible.

Taking into account the foregoing discussion among the members and on a proposal from the President, the Governing Council decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility would remain unchanged at 0.05%, 0.30% and -0.20% respectively

ECB | Joana Taborda |
10/8/2015 1:02:10 PM

Recent Releases

ECB Leaves Rates Unchanged
The ECB left its benchmark refinancing rate steady at a record low of 0.05% on September 3rd as widely expected. The central bank also revised down growth and inflation forecasts.
Published on 2015-09-03

ECB Leaves Rates on Hold, Raises ELA For Greece
The ECB left its benchmark refinancing rate unchanged at a record low 0.05% and the asset purchase program on hold on July 16th as widely expected. The ECB also decided to raise the emergency liquidity assistance to Greek banks by €900 million over 1 week.
Published on 2015-07-16

ECB Leaves Rates on Hold
The European Central Bank left its benchmark refinancing rate unchanged at a record low 0.05 percent on June 3rd as widely expected and confirmed its projections for the economic growth at 1.5 percent in 2015 and 1.9 percent in 2016.
Published on 2015-06-03

ECB Urges for Structural Reforms
ECB President Mario Draghi said structural reforms that reverse the downward drift in potential growth are now vital for the Euro Area and encouraged governments to take further steps to reform their economies in a speech at the ECB annual forum.
Published on 2015-05-22

Euro Area Money Last Previous Highest Lowest Unit
Interest Rate 0.05 0.05 4.75 0.05 percent [+]
Interbank Rate -0.03 -0.02 11.82 -0.03 percent [+]
Money Supply M1 6407055.00 6398685.00 6407055.00 444072.00 EUR Million [+]
Money Supply M2 10034812.00 10031537.00 10034812.00 1070326.00 EUR Million [+]
Money Supply M3 10659044.00 10683882.00 10683882.00 1097360.00 EUR Million [+]
Central Bank Balance Sheet 2620631.00 2602314.00 3102227.00 692641.00 EUR Million [+]
Foreign Exchange Reserves 322688.00 320222.00 340247.00 178392.00 USD Million [+]
Loans to Private Sector 10604942.00 10608647.00 11104492.00 3241223.00 EUR Million [+]
Loan Growth 1.00 0.90 11.40 -2.30 percent [+]

Interest Rate Reference Previous Highest Lowest Unit
Australia 2.00 Oct/15 2.00 17.50 2.00 percent [+]
Brazil 14.25 Sep/15 14.25 45.00 7.25 percent [+]
Canada 0.50 Sep/15 0.50 16.00 0.25 percent [+]
China 4.60 Sep/15 4.60 10.98 4.60 percent [+]
Euro Area 0.05 Sep/15 0.05 4.75 0.05 percent [+]
India 6.75 Sep/15 7.25 14.50 4.25 percent [+]
Indonesia 7.50 Sep/15 7.50 12.75 5.75 percent [+]
Japan 0.00 Oct/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Sep/15 3.00 9.25 3.00 percent [+]
Russia 11.00 Sep/15 11.00 17.00 5.00 percent [+]
South Korea 1.50 Sep/15 1.50 5.25 1.50 percent [+]
Switzerland -0.75 Sep/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Sep/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Oct/15 0.50 17.00 0.50 percent [+]
United States 0.25 Sep/15 0.25 20.00 0.25 percent [+]