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%
2016-05-06 07:30 AM ECB Weidmann Speech
2016-05-18 08:00 AM ECB Non-Monetary Policy Meeting
2016-06-02 11:45 AM ECB Interest Rate Decision 0.0% 0.00%

ECB Leaves Rates Steady


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.

The interest rates on the marginal lending facility and the deposit facility were also left unchanged at 0.25 percent and -0.40 percent respectively.

Excerpts from the Introductory statement to the press conference:

Based on our regular economic and monetary analyses, we decided to keep the key ECB interest rates unchanged. We continue to expect them to remain at present or lower levels for an extended period of time, and well past the horizon of our net asset purchases. Regarding non-standard monetary policy measures, as decided on 10 March 2016, we have started to expand our monthly purchases under the asset purchase programme to €80 billion, from the previous amount of €60 billion. As stated before, these purchases are intended to run until the end of March 2017, or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim. Moreover, in June, we will conduct the first operation of our new series of targeted longer-term refinancing operations (TLTRO II) and we will commence purchases under our corporate sector purchase programme (CSPP).

Looking forward, it is essential to preserve an appropriate degree of monetary accommodation as long as needed in order to underpin the momentum of the euro area’s economic recovery and in order to accelerate the return of inflation to levels below, but close to, 2%. The Governing Council will continue to monitor closely the evolution of the outlook for price stability and, if warranted to achieve its objective, will act by using all the instruments available within its mandate. In the current context, it is crucial to ensure that the very low inflation environment does not become entrenched in second-round effects on wage and price setting.

The risks to the euro area growth outlook still remain tilted to the downside. Our recent monetary policy decisions have improved overall financing conditions, which should support the outlook for consumption and investment. However, uncertainties persist and relate, in particular, to developments in the global economy and to geopolitical risks.

Looking ahead, on the basis of current futures prices for energy, inflation rates could turn negative again in the coming months before picking up in the second half of 2016. Thereafter, supported by our monetary policy measures and the expected economic recovery, inflation rates should recover further in 2017 and 2018.


ECB | Joana Taborda | joana.taborda@tradingeconomics.com
4/21/2016 2:08:46 PM

Euro Area Money Last Previous Highest Lowest Unit
Interest Rate 0.00 0.00 4.75 0.00 percent [+]
Interbank Rate -0.28 -0.27 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 2983183.00 2966107.00 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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