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

The ECB held its benchmark refinancing rate at 0 percent for the sixth straight time on October 20th, as widely expected. Both the deposit rate and the lending rate were also left steady at -0.4 percent and 0.25 percent, respectively. Policymakers reiterated they expect the key ECB interest rates to remain at present or lower levels for an extended period of time and confirmed that the monthly asset purchases of €80 billion are intended to run until the end of March 2017, or beyond, if necessary. Interest Rate in Euro Area averaged 2.17 percent from 1998 until 2016, reaching an all time high of 4.75 percent in October of 2000 and a record low of 0.00 percent in March of 2016.

Euro Area Interest Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-07-21 11:45 AM ECB Interest Rate Decision 0% 0% 0% 0%
2016-09-08 11:45 AM ECB Interest Rate Decision 0.0% 0.0% 0.0% 0.0%
2016-10-20 11:45 AM ECB Interest Rate Decision 0.0% 0.0% 0.0% 0.0%
2016-12-08 12:45 PM ECB Interest Rate Decision 0.0% 0% 0%
2016-12-08 01:30 PM ECB Press Conference
2016-12-14 09:00 AM ECB Non-Monetary Policy Meeting

ECB Points to Further Stimulus at December Meeting

ECB policymakers agreed on the need to execute its asset purchases in line with its past decisions and to adopt further measures, if needed, to support the Eurozone's recovery and bring inflation back to target, minutes from ECB's November meeting showed. ECB officials also agreed that in December they would be in a better position to form a firmer view on the inflation outlook, as they would have access to the latest incoming data, the new Eurosystem staff macroeconomic projections and the results of the work of the Eurosystem committees on the options to ensure the smooth implementation of the APP until March 2017, or beyond, if necessary.

There was wide agreement among members that it was premature to make a firm assessment of the outlook for price stability and to discuss its implications for the monetary policy stance at the current meeting. While the recovery of the euro area economy appeared to be on track, underlying inflation still lacked a convincing upward trend and the scenario for growth and inflation continued to be predicated on the prevailing very favourable financing conditions, which to a large extent reflected the current accommodative monetary policy stance. In this context, it was recalled that patience continued to be warranted as the full effects of the monetary policy measures were still unfolding, given the transmission lags with which policy was feeding through to the ultimate objective, and which, in the wake of private and public sector balance sheet adjustments, were likely to be longer than usual.

Members widely agreed that in December the Governing Council would be in a better position to form a firmer view on the inflation outlook and the progress being made in achieving a sustained adjustment in the path of inflation, with a view to considering the appropriate implications for the monetary policy stance. In December the Governing Council would have the benefit of the latest incoming data, the new Eurosystem staff macroeconomic projections extending through to 2019 and the results of the work of the Eurosystem committees on the options to ensure the smooth implementation of the APP until March 2017, or beyond, if necessary.

The view was widely shared among members that a discussion on the changes to the technical parameters of the APP should not be separate from an assessment of the medium-term inflation outlook and the implications this might have for the appropriate monetary policy stance. The questions of how to ensure the smooth implementation of the APP until March 2017, or beyond, if necessary, and how to preserve the very substantial monetary support that was necessary in order to secure a return of inflation rates towards levels below, but close to, 2% were seen to be closely linked. Members took note of the ongoing technical work of the committees that was designed to ensure a smooth execution of the programme until March 2017, or beyond, if necessary.

All in all, members widely shared the view that it was imperative to remain fully committed to preserving the very substantial degree of monetary accommodation that was necessary to secure a sustained convergence of inflation towards levels below, but close to, 2% over the medium term. Financing conditions had to remain supportive to underpin the recovery in growth and inflation, also in the face of weak underlying price pressures and prevailing uncertainties. The Governing Council had to remain fully determined to execute its asset purchases in line with its past decisions and to adopt further measures, if needed, to put inflation back on a sustainable path towards levels compatible with its inflation aim.

ECB | Joana Ferreira |
11/17/2016 1:14:02 PM

Euro Area Money Last Previous Highest Lowest Unit
Interest Rate 0.00 0.00 4.75 0.00 percent [+]
Interbank Rate -0.34 -0.33 5.39 -0.34 percent [+]
Money Supply M1 7044725.00 7010372.00 7044725.00 444072.00 EUR Million [+]
Money Supply M2 10563610.00 10576523.00 10576523.00 1070326.00 EUR Million [+]
Money Supply M3 11232336.00 11237392.00 11237392.00 1097360.00 EUR Million [+]
Foreign Exchange Reserves 343861.00 352400.00 352400.00 178392.00 USD Million [+]
Central Bank Balance Sheet 3587380.00 3566230.00 3587380.00 692641.00 EUR Million [+]
Loans to Private Sector 10655446.00 10622436.00 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 1.80 1.80 2.30 -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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.00 4.75 0.00 1998 - 2016 percent Daily

Argentina 130.51 Dec/16
Ghana 25.50 Nov/16
Malawi 24.00 Nov/16
Mozambique 23.25 Oct/16
Gambia 23.00 Aug/16
Venezuela 21.73 Sep/16
Haiti 20.00 Oct/16
Iran 20.00 Dec/16
Belarus 18.00 Oct/16
Angola 16.00 Nov/16
Zambia 15.50 Nov/16
Afghanistan 15.00 Oct/16
Azerbaijan 15.00 Nov/16
Mongolia 15.00 Oct/16
Yemen 15.00 Oct/16
Egypt 14.75 Nov/16
Sudan 14.20 Sep/16
Nigeria 14.00 Nov/16
Uganda 14.00 Oct/16
Ukraine 14.00 Oct/16
Brazil 13.75 Nov/16
Liberia 13.57 Jun/16
Djibouti 12.70 Dec/14
Guinea 12.50 Oct/16
Suriname 12.50 Dec/15
Seychelles 12.30 Sep/16
Kazakhstan 12.00 Nov/16
Tanzania 12.00 Oct/16
Tajikistan 11.00 Oct/16
Zimbabwe 10.71 Oct/16
Sierra Leone 10.50 Oct/16
Kenya 10.00 Nov/16
Lebanon 10.00 Oct/16
Myanmar 10.00 Oct/16
Russia 10.00 Oct/16
Sao Tome and Principe 10.00 Oct/16
Uruguay 9.25 Sep/16
Mauritania 9.00 Sep/16
Moldova 9.00 Oct/16
Uzbekistan 9.00 Oct/16
Burundi 8.85 Oct/16
Ecuador 8.71 Oct/16
Madagascar 8.30 Oct/16
Turkey 8.00 Nov/16
Colombia 7.75 Nov/16
Cape Verde 7.50 Oct/16
Congo 7.00 Oct/16
Lesotho 7.00 Sep/16
Maldives 7.00 Oct/16
Namibia 7.00 Dec/16
Nepal 7.00 Oct/16
South Africa 7.00 Nov/16
Sri Lanka 7.00 Nov/16
Swaziland 7.00 Nov/16
Bangladesh 6.75 Nov/16
Armenia 6.50 Nov/16
Georgia 6.50 Oct/16
Rwanda 6.50 Oct/16
Vietnam 6.50 Oct/16
India 6.25 Dec/16
Papua New Guinea 6.25 Oct/16
Bhutan 6.00 Oct/16
Pakistan 5.75 Nov/16
Botswana 5.50 Oct/16
Brunei 5.50 Oct/16
Dominican Republic 5.50 Nov/16
Honduras 5.50 Nov/16
Kyrgyzstan 5.50 Nov/16
Paraguay 5.50 Nov/16
Iceland 5.25 Oct/16
Mexico 5.25 Nov/16
Bosnia and Herzegovina 5.24 Sep/16
Ethiopia 5.00 Oct/16
Guyana 5.00 Sep/16
Jamaica 5.00 Sep/16
Indonesia 4.75 Nov/16
Trinidad and Tobago 4.75 Sep/16
Bahamas 4.50 Sep/16
Laos 4.50 Oct/16
Qatar 4.50 Oct/16
El Salvador 4.48 Jun/16
China 4.35 Nov/16
Peru 4.25 Nov/16
Tunisia 4.25 Oct/16
Algeria 4.00 Oct/16
Iraq 4.00 Oct/16
Macedonia 4.00 Oct/16
Mauritius 4.00 Nov/16
Serbia 4.00 Nov/16
Jordan 3.75 Oct/16
Benin 3.50 Oct/16
Burkina Faso 3.50 Oct/16
Chile 3.50 Nov/16
Guinea Bissau 3.50 Oct/16
Ivory Coast 3.50 Sep/16
Mali 3.50 Sep/16
Niger 3.50 Oct/16
Senegal 3.50 Sep/16
Togo 3.50 Sep/16
Barbados 3.33 Oct/16
Guatemala 3.00 Nov/16
Libya 3.00 Oct/16
Malaysia 3.00 Nov/16
Philippines 3.00 Nov/16
Belize 2.50 Aug/16
Croatia 2.50 Oct/16
Cameroon 2.45 Oct/16
Central African Republic 2.45 Oct/16
Chad 2.45 Oct/16
Equatorial Guinea 2.45 Oct/16
Gabon 2.45 Oct/16
Republic of the Congo 2.45 Oct/16
Cuba 2.25 Nov/16
Kuwait 2.25 Oct/16
Morocco 2.25 Oct/16
Saudi Arabia 2.00 Oct/16
Bolivia 1.96 Sep/16
Costa Rica 1.75 Oct/16
New Zealand 1.75 Nov/16
Romania 1.75 Nov/16
Australia 1.50 Dec/16
Poland 1.50 Dec/16
Thailand 1.50 Nov/16
Cambodia 1.45 Sep/16
Taiwan 1.38 Oct/16
Albania 1.25 Nov/16
South Korea 1.25 Nov/16
United Arab Emirates 1.25 Oct/16
Comoros 1.16 Oct/16
Oman 1.00 Oct/16
Hungary 0.90 Nov/16
Bahrain 0.75 Nov/16
Hong Kong 0.75 Oct/16
Macau 0.75 Oct/16
Panama 0.54 Sep/16
Canada 0.50 Dec/16
Fiji 0.50 Nov/16
Norway 0.50 Oct/16
United States 0.50 Nov/16
New Caledonia 0.25 Oct/16
United Kingdom 0.25 Nov/16
Israel 0.10 Nov/16
Singapore 0.07 Oct/16
Czech Republic 0.05 Nov/16
Austria 0.00 Nov/16
Belgium 0.00 Nov/16
Bulgaria 0.00 Dec/16
Cyprus 0.00 Nov/16
Estonia 0.00 Nov/16
Euro Area 0.00 Nov/16
Finland 0.00 Nov/16
France 0.00 Nov/16
Germany 0.00 Nov/16
Greece 0.00 Nov/16
Ireland 0.00 Nov/16
Italy 0.00 Nov/16
Latvia 0.00 Nov/16
Lithuania 0.00 Nov/16
Luxembourg 0.00 Nov/16
Malta 0.00 Nov/16
Netherlands 0.00 Nov/16
Portugal 0.00 Nov/16
Slovakia 0.00 Nov/16
Slovenia 0.00 Nov/16
Spain 0.00 Nov/16
Japan -0.10 Nov/16
Sweden -0.50 Oct/16
Denmark -0.65 Oct/16
Switzerland -0.75 Oct/16