Euro Area Interest Rate

Last Release

Apr 11, 2024

Actual

4.5

Units In

4.5

Frequency

Daily

Next Release

Jun 06, 2024

Time to Release

1 Months 19 Days 1 Hours

Highest	Lowest	Average	Date Range	Source
4.75 Oct 2000	0.5 Jul 2022	1.82 %	1998-2024	European Central Bank

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. .

Latest Updates

President Lagarde confirmed Tuesday that the ECB will cut rates soon, adding that geopolitical events haven't had a substantial impact on commodity prices. The ECB is observing a disinflationary process that is moving according to expectations and just needs to build a bit more confidence in it, ECB President Christine Lagarde told CNBC. "If it moves according to expectations, if we don’t have a major shock in development, we are heading towards a moment where we have to moderate the restrictive monetary policy. Subject to no development of additional shock, it will be time to moderate the restrictive monetary policy in reasonably short order,” she added. In its April 2024 meeting, the ECB left interest rates steady as expected and signaled it is ready to cut them. Most investors anticipate the first rate reduction in June.