Euro Area Interest Rate 1998-2018 | Data | Chart | Calendar | Forecast

The ECB held its benchmark refinancing rate at 0 percent on January 25th, as expected, and confirmed that the net asset purchases are intended to run at a monthly pace of €30 billion until the end of September, or beyond, if necessary. Policymakers voiced concerns over weak inflation and a surging euro. Interest Rate in the Euro Area averaged 2.05 percent from 1998 until 2018, reaching an all time high of 4.75 percent in October of 2000 and a record low of 0 percent in March of 2016.

Euro Area Interest Rate
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ECB Holds Rates at Record Lows

The ECB held its benchmark refinancing rate at 0% on January 25th, as expected, and confirmed that the net asset purchases are intended to run at a monthly pace of €30 billion until the end of September, or beyond, if necessary. Policymakers voiced concerns over weak inflation and a surging euro.

Excerpts from the Introductory statement to the press conference by Mario Draghi:

Incoming information confirms a robust pace of economic expansion, which accelerated more than expected in the second half of 2017. The strong cyclical momentum, the ongoing reduction of economic slack and increasing capacity utilisation strengthen further our confidence that inflation will converge towards our inflation aim of below, but close to, 2%. At the same time, domestic price pressures remain muted overall and have yet to show convincing signs of a sustained upward trend. Against this background, the recent volatility in the exchange rate represents a source of uncertainty which requires monitoring with regard to its possible implications for the medium-term outlook for price stability. Overall, an ample degree of monetary stimulus remains necessary for underlying inflation pressures to continue to build up and support headline inflation developments over the medium term. This continued monetary support is provided by the net asset purchases, by the sizeable stock of acquired assets and the forthcoming reinvestments, and by our forward guidance on interest rates.

Let me now explain our assessment in greater detail, starting with the economic analysis. Real GDP increased by 0.7%, quarter on quarter, in the third quarter of 2017, following similar growth in the second quarter. The latest economic data and survey results indicate continued strong and broad-based growth momentum at the turn of the year. Our monetary policy measures, which have facilitated the deleveraging process, continue to underpin domestic demand. Private consumption is supported by rising employment, which is also benefiting from past labour market reforms, and by growing household wealth. Business investment continues to strengthen on the back of very favourable financing conditions, rising corporate profitability and solid demand. Housing investment has improved further over recent quarters. In addition, the broad-based global expansion is providing impetus to euro area exports.

The risks surrounding the euro area growth outlook are assessed as broadly balanced. On the one hand, the prevailing strong cyclical momentum could lead to further positive growth surprises in the near term. On the other hand, downside risks continue to relate primarily to global factors, including developments in foreign exchange markets.

Euro area annual HICP inflation was 1.4% in December 2017, down from 1.5% in November. This reflected mainly developments in energy prices. Looking ahead, on the basis of current futures prices for oil, annual rates of headline inflation are likely to hover around current levels in the coming months. For their part, measures of underlying inflation remain subdued – in part owing to special factors – and have yet to show convincing signs of a sustained upward trend. Yet, looking forward, they are expected to rise gradually over the medium term, supported by our monetary policy measures, the continuing economic expansion, the corresponding absorption of economic slack and rising wage growth.

ECB | Joana Ferreira |
1/25/2018 1:47:57 PM

Calendar GMT Actual Previous Consensus TEForecast
2017-10-26 11:45 AM ECB Interest Rate Decision 0.00% 0% 0% 0%
2017-12-14 12:45 PM ECB Interest Rate Decision 0% 0% 0% 0%
2018-01-25 12:45 PM ECB Interest Rate Decision 0% 0% 0% 0.0%
2018-03-08 12:45 PM ECB Interest Rate Decision
2018-03-08 01:30 PM ECB Press Conference
2018-04-26 11:45 AM ECB Interest Rate Decision

Euro Area Money Last Previous Highest Lowest Unit
Interest Rate 0.00 0.00 4.75 0.00 percent [+]
Interbank Rate -0.38 -0.38 5.39 -0.39 percent [+]
Money Supply M1 7788698.00 7765434.00 7788698.00 444118.00 EUR Million [+]
Money Supply M2 11199918.00 11181379.00 11199918.00 1070365.00 EUR Million [+]
Money Supply M3 11869966.00 11860785.00 11869966.00 1097238.00 EUR Million [+]
Foreign Exchange Reserves 62.04 61.64 70.57 34.91 USD Billion [+]
Central Bank Balance Sheet 4484003.00 4472739.00 4487284.00 692641.00 EUR Million [+]
Loans to Private Sector 10865975.00 10854800.00 11106677.00 3241298.00 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 2.80 2.80 9.90 -0.40 percent [+]

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. . 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 January of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.00 4.75 0.00 1998 - 2018 percent Daily

interest rate by Country
Country Last
Turkey 8.00 Jan/18
Russia 7.75 Dec/17
Mexico 7.25 Dec/17
Brazil 7.00 Dec/17
India 6.00 Dec/17
China 4.35 Dec/17
Indonesia 4.25 Jan/18
Australia 1.50 Dec/17
South Korea 1.50 Jan/18
United States 1.50 Dec/17
Canada 1.25 Jan/18
United Kingdom 0.50 Dec/17
Euro Area 0.00 Jan/18
France 0.00 Jan/18
Germany 0.00 Jan/18
Italy 0.00 Jan/18
Netherlands 0.00 Jan/18
Spain 0.00 Jan/18
Japan -0.10 Jan/18
Switzerland -0.75 Dec/17