The ECB left monetary policy unchanged during its April meeting, as officials took a wait-and-see approach after last month’s decision to conduct emergency bond purchases at a significantly higher pace over Q2. Interest rates were kept at record-low levels and the PEPP quota was maintained at €1.85 trillion with the buys to run at least until March 2022. The central bank reiterated that the envelope might not need to be used in full if favorable financing conditions can be maintained, but could be recalibrated if required to help counter the negative pandemic shock to the path of inflation. President Lagarde said at the press conference that although inflation has picked up over recent months due to temporary factors, underlying price pressures remain subdued in the context of significant economic slack and weak demand. She added that economic activity is seen rebounding firmly in the course of 2021, but the near-term economic outlook remained uncertain. source: European Central Bank

Interest Rate in the Euro Area averaged 1.78 percent from 1998 until 2021, 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 May of 2021.

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 2022, 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 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-12-10 12:45 PM ECB Interest Rate Decision 0% 0% 0% 0%
2021-01-21 12:45 PM ECB Interest Rate Decision 0% 0% 0% 0%
2021-03-11 12:45 PM ECB Interest Rate Decision 0% 0% 0% 0%
2021-04-22 11:45 AM ECB Interest Rate Decision 0% 0% 0% 0%
2021-05-12 07:55 AM ECB Enria Speech
2021-05-12 08:00 AM ECB Non-Monetary Policy Meeting
2021-05-14 11:30 AM ECB Monetary Policy Meeting Accounts
2021-06-10 11:45 AM ECB Interest Rate Decision


News Stream
ECB Leaves Monetary Policy Unchanged
The ECB left monetary policy unchanged during its April meeting, as officials took a wait-and-see approach after last month’s decision to conduct emergency bond purchases at a significantly higher pace over Q2. Interest rates were kept at record-low levels and the PEPP quota was maintained at €1.85 trillion with the buys to run at least until March 2022. The central bank reiterated that the envelope might not need to be used in full if favorable financing conditions can be maintained, but could be recalibrated if required to help counter the negative pandemic shock to the path of inflation. President Lagarde said at the press conference that although inflation has picked up over recent months due to temporary factors, underlying price pressures remain subdued in the context of significant economic slack and weak demand. She added that economic activity is seen rebounding firmly in the course of 2021, but the near-term economic outlook remained uncertain.
2021-04-22
ECB Seen Leaving Rates and Bond Purchases Unchanged
The ECB is seen leaving interest rates steady at record low levels during its April 2021 meeting. No changes are expected either to the €1.85 trillion pandemic emergency bond purchasing programme but investors will be looking for clues on tapering. Last month, the central bank pledged to increase the pace of asset purchases, amid a surge in bond yields. Since then, central banks across the bloc have spent an average of €17 billion euros a week, up from about €14 billion since the start of the year, and many economists expect the ECB to slow bond-buying by July. President Lagarde will likely maintain a dovish tone during the regular press conference and traders will keep an eye on any comments about the economic outlook, inflation, fiscal stimulus and the impact of a slow vaccination rollout.
2021-04-22
ECB Hints at Bond Buying Reduction in Q3: Minutes
ECB policymakers discussed a smaller increase in bond purchases under the PEPP and agreed that the central bank did not need to use the envelope in full if favorable financing conditions could be maintained, the accounts of the March's meeting showed. Also, officials noted that that the pick-up in nominal yields reflected almost entirely markets’ reappraisal of the inflation outlook; while it was argued that higher real rates were not necessarily a cause for concern and should not trigger a policy intervention if they reflected higher growth prospects rather than higher real term premia. Last month, the ECB said it would conduct emergency bond purchases at a significantly higher pace over the April-June period, aiming to bring government bond yields down and to support the Eurozone economic recovery.
2021-04-08
ECB to Boost Emergency Bond Buys
The European Central Bank left key interest rates at record-low levels during its March meeting, and said it would conduct emergency bond purchases at a significantly higher pace over the next quarter, aiming to bring government bond yields down and to support the Eurozone economic recovery. Still, the ECB did not make changes to policy, as it maintained its PEPP with a total envelope of €1.85 trillion to be spent until at least the end of March 2022. Meanwhile, the ECB kept its overall inflation outlook broadly unchanged, but revised slightly up its 2021 GDP forecast to 4 percent, compared with 3.9 percent projected in December. Also, the central bank sees the bloc growing by 4.1 percent 2022, down from 4.2 percent previously estimated.
2021-03-11

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. .