Euro area interest rate
European Central Bank
- Policy rate
- 2.50%
- Sep 22, 2026
- Last move
- +0.25 pt
- Sep 22, 2026
- 12-month change
- +0.50 pt
- vs a year earlier
- Member countries
- 21
- share this rate
The policy rate set by the European Central Bank is 2.50% as of Sep 22, 2026. Its most recent move: it raised its rate from 2.25% to 2.50% (Sep 22, 2026). The rate is 0.50 percentage points higher than a year earlier.
Policy rate over the past two years
Sep 22, 2026: 2.50%
Rate changes
| When | Decision | From | To | Change |
|---|---|---|---|---|
| Sep 22, 2026 | Hike | 2.25% | 2.50% | +0.25 pt |
| Jun 2026 | Hike | 2.00% | 2.25% | +0.25 pt |
| Jun 2025 | Cut | 2.25% | 2.00% | −0.25 pt |
| Apr 2025 | Cut | 2.50% | 2.25% | −0.25 pt |
| Mar 2025 | Cut | 2.75% | 2.50% | −0.25 pt |
| Feb 2025 | Cut | 3.00% | 2.75% | −0.25 pt |
| Dec 2024 | Cut | 3.25% | 3.00% | −0.25 pt |
| Oct 2024 | Cut | 3.50% | 3.25% | −0.25 pt |
| Sep 2024 | Cut | 4.25% | 3.50% | −0.75 pt |
Changes between month-end rates, plus the latest daily reading. Two decisions in one month show up as a single change.
Euro area countries
All 21 countries share the ECB's rate, but inflation and government borrowing costs differ.
| Country | Inflation | Real rate | 10-yr bond |
|---|---|---|---|
| Austria | 2.8% (Jul 2026) | −0.3% | 3.41% |
| Belgium | 4.0% (Aug 2026) | −1.5% | 3.76% |
| Bulgaria | 5.1% (Aug 2026) | −2.6% | 4.09% |
| Croatia | 5.2% (May 2026) | −2.7% | 3.58% |
| Cyprus | 2.9% (Jul 2026) | −0.4% | – |
| Estonia | 1.5% (Aug 2026) | +1.0% | 3.83% |
| Finland | 2.2% (Aug 2026) | +0.3% | 3.52% |
| France | 2.4% (Aug 2026) | +0.1% | 4.00% |
| Germany | 2.9% (Aug 2026) | −0.4% | 3.18% |
| Greece | 3.8% (Aug 2026) | −1.3% | 3.87% |
| Ireland | 3.7% (Aug 2026) | −1.2% | 3.35% |
| Italy | 2.9% (Jul 2026) | −0.4% | 3.99% |
| Latvia | 2.6% (Jul 2026) | −0.1% | 3.82% |
| Lithuania | 6.1% (Aug 2026) | −3.6% | 2.88% |
| Luxembourg | 2.2% (Jul 2026) | +0.3% | 3.40% |
| Malta | 2.5% (Jun 2026) | 0.0% | – |
| Netherlands | 3.3% (Aug 2026) | −0.8% | 3.29% |
| Portugal | 3.0% (Jul 2026) | −0.5% | 3.44% |
| Slovakia | 3.4% (Jun 2026) | −0.9% | 3.85% |
| Slovenia | 3.0% (Aug 2026) | −0.5% | 3.54% |
| Spain | 4.3% (Aug 2026) | −1.8% | 3.63% |
Other central banks in Europe
Source: BIS (European Central Bank). Updated daily. All central bank rates