Most ECB officials agreed that there was a need to signal the necessity of recalibrating the ECB's monetary policy instruments when they meet in December, but cautioned that the central should not pre-commit itself to specific policy actions, the accounts of the October's meeting showed. At the same time, policymakers viewed the existing stimulus measures as effective, but questioned about possible side effects and “diminishing returns” in an environment of high uncertainty and very favorable financial conditions. Overall, members considered the risks surrounding the growth outlook to be clearly tilted to the downside, while headline inflation was now expected to be in negative territory for longer than had been foreseen in the September projections. source: European Central Bank

Interest Rate in the Euro Area averaged 1.82 percent from 1998 until 2020, reaching an all time high of 4.75 percent in October of 2000 and a record low of 0 percent in March of 2016. This page provides - Euro Area Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.

Interest Rate in Euro Area is expected to be 0.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Euro Area to stand at 0.00 in 12 months time. In the long-term, the Euro Area Interest Rate is projected to trend around 0.00 percent in 2021, according to our econometric models.

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Euro Area Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.00 4.75 0.00 1998 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-06-04 11:45 AM ECB Interest Rate Decision 0% 0% 0% 0%
2020-07-16 11:45 AM ECB Interest Rate Decision 0% 0% 0% 0%
2020-09-10 11:45 AM ECB Interest Rate Decision 0% 0% 0% 0%
2020-10-29 12:45 PM ECB Interest Rate Decision 0% 0% 0% 0%
2020-11-30 10:30 AM ECB President Lagarde Speech
2020-11-30 02:00 PM ECB Hakkarainen Speech
2020-12-01 05:00 PM ECB President Lagarde Speech
2020-12-02 08:00 AM ECB Non-Monetary Policy Meeting


News Stream
ECB Move to Announce Policy Recalibration Not Unanimous
Most ECB officials agreed that there was a need to signal the necessity of recalibrating the ECB's monetary policy instruments when they meet in December, but cautioned that the central should not pre-commit itself to specific policy actions, the accounts of the October's meeting showed. At the same time, policymakers viewed the existing stimulus measures as effective, but questioned about possible side effects and “diminishing returns” in an environment of high uncertainty and very favorable financial conditions. Overall, members considered the risks surrounding the growth outlook to be clearly tilted to the downside, while headline inflation was now expected to be in negative territory for longer than had been foreseen in the September projections.
2020-11-26
ECB President Hints at More Stimulus
ECB President Christine Lagarde warned that we could still face recurring cycles of coronavirus spread and tightening restrictions until widespread immunity is achieved, and because of that, the recovery may not be linear, but rather unsteady, stop-start and contingent on the pace of vaccine roll-out. Speaking at the ECB Forum on Central Banking, Lagarde stressed the need for further fiscal stimulus, and said draft budgetary plans suggest that fiscal support next year will be significant and broadly similar to this year. On the monetary policy front, ECB President also hinted at more stimulus in December as the PEPP and TLTROs have proven their effectiveness and can be dynamically adjusted to react to how the pandemic evolves. The ECB left the main refinancing rate at 0% in October and the pandemic emergency purchase programme (PEPP) with a total envelope of €1.35 trillion.
2020-11-11
ECB to Review Monetary Policy in December
The European Central Bank left monetary policy unchanged during its October meeting, as policymakers took a wait-and-see approach until a new round of economic projections is unleashed in December, which will allow a thorough reassessment of the economic outlook and the balance of risks. The central bank pledged to recalibrate its instruments, as appropriate, to respond to the unfolding situation and to ensure that financing conditions remain favorable to support the economic recovery and counteract the negative impact of the pandemic on the projected inflation path. The main refinancing rate was held at 0 percent while the deposit rate remained at a record low -0.5 percent. In addition, the ECB will continue its purchases under the pandemic emergency purchase programme (PEPP) with a total envelope of €1.35 trillion.
2020-10-29
ECB Seen Leaving Rates, QE Steady
The European Central Bank is expected to hold rates and keep the asset purchase programme at €1.35 trillion during its October 2020 meeting. Policymakers are seen changing the stimulus volume only in December but investors will be looking for some guidance on the bank's willingness to use the quantitative easing program to respond to changes in the outlook. Coronavirus cases are rising in Europe and more countries announce tighter restrictions and lockdowns, putting pressure on economies already shrinking at record pace. The inflation outlook is also deteriorating, with the Euro Area remaining in deflation territory for a second straight month in September. Earlier in the week, President Lagarde said during an interview with Le Monde “The options in our toolbox have not been exhausted".
2020-10-29

Euro Area Interest Rate
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. .