Euro Area Interest Rate 1998-2014 | Data | Chart | Calendar | Forecast

The benchmark interest rate In the Euro Area was last recorded at 0.05 percent.


Euro Area Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.05 0.05 4.75 0.05 1998 - 2014 Percent Daily
In the Euro Area, interest rate decisions are taken by the Governing Council of the European Central Bank. The primary objective of the ECB’s monetary policy is to maintain price stability. The ECB’s Governing Council has defined price stability as "a year-on-year increase in the Harmonised Index of Consumer Prices (HICP) for The Euro Area of below 2%. 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 Friday, October 31, 2014.

25 Banks Fail ECB Stress Test

On October 26th, 2014 the European Central Bank published the results of a year-long examination of the resilience of the 130 largest banks in the euro area as of 31 December 2013. The so-called stress tests found a capital shortfall of € 25 billion at 25 banks.

The assessment—which consisted of an asset quality review and a forward-looking stress test of the banks—found a capital shortfall of €25 billion at 25 banks: 9 in Italy; 3 in Greece; 3 in Cyprus; 2 in Slovenia; 2 in Belgium; and 1 in Germany, Ireland, Spain, France, Portugal and Austria. 

12 of the 25 banks have already covered their capital shortfall by increasing capital by € 15 billion in 2014. The remaining 13 must prepare capital plans within two weeks and will have up to nine months to cover the capital shortfall: 4 banks in Italy; 2 in Greece; 2 in Slovenia; 1 in Cyprus, Portugal, Ireland, Belgium and Austria. 

The 130 banks included in the exercise had total assets of € 22.0 trillion, accounting for 81.6 percent of total banking assets. The assessment also showed that as of end-2013 the banks’ asset values need to be adjusted by €48 billion, as €37 billion of which did not generate capital shortfall and non-performing exposures increased by € 136 billion to a total of € 879 billion. 

Vítor Constâncio, Vice-President of the ECB said that “this unprecedented in-depth review of the largest banks’ positions will boost public confidence in the banking sector. By identifying problems and risks, it will help repair balance sheets and make the banks more resilient and robust. This should facilitate more lending in Europe, which will help economic growth.” 

ECB | Joana Taborda |
10/27/2014 4:40:30 PM

Recent Releases

ECB Leaves Rates on Hold, Shifts to Asset Buying
The European Central Bank left its benchmark interest rate on hold at 0.05 percent at its October 2nd meeting, following a 10 bps cut last month. Policymakers also decided to unveil the specifics of a plan to buy asset-backed securities and covered bonds. Published on 2014-10-02

ECB Cuts Rates to Record Low
At its September 4th meeting, the European Central Bank lowered the main refinancing rate by 10 bps to 0.05 percent and cut the deposit facility rate to -0.2 percent from -0.1 percent. The ECB also announced it would start buying securitized debt and covered bonds to ease the flow of bank funding to the economy. Published on 2014-09-04

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-07-03 12:45 PM Euro Area
ECB Interest Rate Decision
0.15% 0.15% 0.15% 0.15%
2014-07-03 01:30 PM Euro Area
ECB Press Conference
2014-07-14 06:00 PM Euro Area
ECB President Draghi's Speech
2014-08-07 12:45 PM Euro Area
ECB Interest Rate Decision
0.15% 0.15% 0.15% 0.15%
2014-08-07 01:30 PM Euro Area
ECB Press Conference

Euro Area Money Last Previous Highest Lowest Unit
Interest Rate 0.05 0.05 4.75 0.05 Percent [+]
Interbank Rate 0.20 0.24 11.82 0.19 Percent [+]
Money Supply M1 5693668.00 5658499.00 5693668.00 444072.00 EUR Million [+]
Money Supply M2 9496611.00 9453848.00 9496611.00 1070326.00 EUR Million [+]
Money Supply M3 10107719.00 10062732.00 10107719.00 1097365.00 EUR Billion [+]
Central Bank Balance Sheet 2025258.00 2044312.00 3102227.00 692641.00 EUR Million [+]
Foreign Exchange Reserves 340247.00 340214.00 340247.00 178392.00 USD Million [+]
Loans to Private Sector 10446219.00 10435354.00 11104492.00 3241223.00 EUR Million [+]