The next European Central Bank (ECB) interest rate decision is due on Thursday, 30 April 2026 at 13:15 GMT.
The European Central Bank (ECB) announces its interest rate decisions at the conclusion of its scheduled monetary policy meetings throughout the year. These decisions determine whether the central bank will raise, lower, or maintain its key interest rates, influencing borrowing costs and economic conditions across the euro area.
What is the current ECB interest rate?
The European Central Bank's current key interest rates as follows:
- Deposit facility rate: 2.00%
- Main refinancing operations (MRO) rate: 2.15%
- Marginal lending facility rate: 2.40%
These rates have remained unchanged since the ECB’s latest monetary policy decision on 19 March 2026.
The most recent rate adjustment was a 25 basis point cut announced on 5 June 2025, which took effect on 11 June 2025.
What are ECB interest rates?
The European Central Bank (ECB) has three key interest rates: the main refinancing operations (MRO) rate, the deposit facility rate, and the marginal lending facility rate, which are decided and set at its Governing Council meetings.
The ECB says it steers its monetary policy stance through the deposit facility rate.
What date is the next European Central Bank interest rate meeting?
The next European Central Bank interest rate (monetary policy) meeting and decision is due on Thursday, July 24th.
See below for all the ECB's scheduled monetary policy meetings in 2026:
- February 4–5
- March 18–19
- April 29–30
- June 10–11
- July 22–23
- September 9–10*
- October 28–29
- December 16–17
*Monetary policy meeting hosted by the Deutsche Bundesbank.
These dates are confirmed by the European Central Bank. All monetary policy meetings are followed by a press conference, held by the ECB President. Most meetings are held in Frankfurt, Germany—the headquarters of the ECB— however, on occasion the meetings will be hosted by an individual central bank in their home city, such as Rome in October, 2025.
Historical key ECB interest rates
See below for historical interest rate data, showing how the ECB's main refinancing operations (MRO) rate, the deposit facility rate, and the marginal lending facility rate have changed over time.
How often does the ECB review interest rates?
The European Central Bank reviews and sets its key interest rates every six weeks during its Governing Council's monetary policy meetings. These decisions are based on assessments of economic indicators such as inflation, growth, and financial stability.
The ECB's monetary policy decisions are made independently (without instruction from any external entities), with maintaining price stability within the euro area being their primary objective—aiming for inflation rates below (but close to) 2% over the medium term.
What time is the ECB interest rate decision announced?
The ECB publishes its monetary policy decisions at 13:15 GMT on decision day, with the press conference starting at 13:45 GMT.
These timings were introduced in 2022 and remain in use on the ECB’s current calendar and press materials.
What happens when the ECB raises interest rates?
When the European Central Bank raises interest rates (rate hike), borrowing becomes more expensive for consumers and businesses. This can reduce spending and slow economic growth, while also strengthening EUR.
Higher rates can help to control inflation, they can also weaken the housing market, lower stock prices, and increase government debt costs.
What is the effect when the ECB lowers interest rates?
When the European Central Bank lowers interest rates (rate cut), borrowing becomes cheaper for businesses and consumers, which can encourage spending, investment, and economic growth. Lower rates often reduce loan and mortgage costs, making credit more accessible, while also weakening the euro, which can boost exports but makes imports more expensive.
However, reduced interest rates can also lead to higher inflation, lower returns on savings, and potential asset bubbles in stocks and real estate if borrowing becomes excessive.
What was the latest ECB rate decision?
At its latest meeting on 19 March 2026, the ECB kept all three key interest rates unchanged:
- Deposit facility: 2.00%
- MRO: 2.15%
- Marginal lending facility: 2.40%
The ECB said it remains data-dependent and will continue to decide policy meeting by meeting.
Who is ECB President?
The current President of the European Central Bank (ECB) is Christine Lagarde, who has held the position since November 1, 2019.
Prior to her appointment at the ECB, Lagarde served as the Managing Director of the International Monetary Fund (IMF) from 2011 to 2019 and held various ministerial positions in the French government, including Minister of the Economy, Finance and Industry.
Who are the ECB Governing Council?
The Governing Council of the European Central Bank (ECB) is its principal decision-making body, responsible for formulating monetary policy for the euro area. It comprises the six members of the Executive Board (including the President and Vice-President of the ECB) and the governors of the national central banks (NCBs) from the 20 euro area countries.
What is the euro area interest rate today?
As of 19 March 2026, the ECB’s benchmark policy rates for the euro area are:
- 2.00% deposit facility
- 2.15% main refinancing operations
- 2.40% marginal lending facility
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