The European Central Bank left monetary policy unchanged during its January 2021 meeting, as policymakers took a wait-and-see approach following last month's decision to expand and extend its pandemic emergency programme. Still, policymakers showed readiness to take further action if necessary, as record COVID-19 infections and new lockdowns hit the Euro Area economy and as consumer prices remain in deflationary territory. The ECB left its main interest rate at 0.0% and maintained its PEPP quota at 1.85 trillion euros with the buys to run at least until March 2022. source: European Central Bank

Interest Rate in the Euro Area averaged 1.80 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 February 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
2020-09-10 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%
2020-12-10 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%
2021-02-03 08:00 AM ECB Non-Monetary Policy Meeting
2021-02-04 09:00 AM ECB Economic Bulletin
2021-02-05 11:30 AM ECB Enria Speech
2021-02-05 01:30 PM ECB Guindos Speech


News Stream
ECB Leaves Monetary Policy Unchanged
The European Central Bank left monetary policy unchanged during its January 2021 meeting, as policymakers took a wait-and-see approach following last month's decision to expand and extend its pandemic emergency programme. Still, policymakers showed readiness to take further action if necessary, as record COVID-19 infections and new lockdowns hit the Euro Area economy and as consumer prices remain in deflationary territory. The ECB left its main interest rate at 0.0% and maintained its PEPP quota at 1.85 trillion euros with the buys to run at least until March 2022.
2021-01-21
Little Action Expected from the ECB in January
The European Central Bank is expected to leave monetary policy unchanged during its 1st meeting of 2021, after expanding its Pandemic Emergency Purchase Programme (PEPP) by another €500 billion and extending it to at least the end of March 2022 last month. However, investors see the central bank reiterating its commitment to adjust policy as and when necessary, leaving the door open to further stimulus, amid mounting infections and fresh lockdowns. Traders will also keep an eye on ECB President Lagarde comments at the regular press conference regarding the near-term outlook and risks surrounding the baseline scenario. The pandemic is far from controlled in Europe and countries continue to tight restrictions but some downside risks have faded since last month: coronavirus vaccination rollout already began although at a slow pace and a Brexit deal has been done.
2021-01-21
ECB Officials Considered Smaller Stimulus Package
European Central Bank policymakers agreed that the expansion and extension of PEPP purchases and the recalibration of the TLTRO III conditions were the most suitable tools to ensure that financing conditions remained favorable throughout the pandemic, the accounts of the December's meeting showed. However, there was a number of officials calling for a more moderate increase in the PEPP envelope on the argument that significant space for purchases was still available from past decisions and that in an environment of high uncertainty it was worth “keeping some powder dry” by maintaining the option to further adjust the envelope in the future. They also noted that the PEPP envelope may not be used in full. In December, the ECB expanded its pandemic emergency purchase programme by another €500 billion and extended it to at least the end of March 2022, aiming to support the Eurozone's struggling economy amid the coronavirus crisis.
2021-01-14
ECB Expands PEPP by €500 Billion
The European Central Bank expanded its Pandemic Emergency Purchase Programme (PEPP) by another €500 billion and extended it to at least the end of March 2022 at its December monetary policy meeting, aiming to support the Eurozone's struggling economy amid the coronavirus crisis. Moreover, policymakers approved more long-term loans on cheap terms for another year until June 2022, and announced four additional pandemic emergency longer-term refinancing operations to be offered in 2021. The main refinancing rate was held at 0 percent while the deposit rate remained at a record low -0.5 percent. Meanwhile, the outlook for economic activity has been revised down in the short term, with GDP seen expanding by just 3.9 percent in 2021 compared to 5 percent predicted in September. Inflation projections for 2020 and 2022 were also revised down to 0.2 and 1.1 percent from 0.3 and 1.3 percent, respectively.
2020-12-10

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. .