ECB Main Policy Interest Rate (Euro Area) - Historical Data
Historical time series of the ECB Main Policy Interest Rate set by the European Central Bank (ECB) from 1999 to 2026. From 18 Sep 2024 onwards: official central bank steering rate is the deposit facility rate, fixed rate; from 15 Oct 2008 to 17 Sep 2024: official central bank liquidity providing, main refinancing operations, fixed rate; from 28 Jun 2000 to 14 Oct 2008: official central bank liquidity providing, main refinancing operations, minimum bid rate; from 5 Jan 1999 to 27 Jun 2000: official central bank liquidity providing, main refinancing operations, fixed rate. The latest benchmark reading is 2.50% (Sep 2026), corresponding to an ex-post real policy rate of -0.75% after adjusting for Euro Area headline CPI inflation (3.25%).
Current Statistics & Historical Records
Peak monetary tightening by European Central Bank (ECB Main Policy Interest Rate).
Lowest policy interest rate stance set by European Central Bank.
28 annual observations · Monthly
ECB Main Policy Interest Rate (Euro Area) (1999-2026)
% p.a.Drag to pan, scroll to zoom, or toggle between full archive (1999–2026) and recent monthly observations.
ECB Policy Rate Averages by Decade
Decadal mean, peak, and trough across the 1999–2026 archive
| Decade | Years Covered | Decade Mean | Decade High (Year) | Decade Low (Year) |
|---|---|---|---|---|
| 1990s | 1999–1999 | 3.00% | 3.00% (1999) | 3.00% (1999) |
| 2000s | 2000–2009 | 2.80% | 4.75% (2000) | 1.00% (2009) |
| 2010s | 2010–2019 | 0.31% | 1.00% (2010) | 0.00% (2016) |
| 2020s | 2020–2026 | 2.07% | 4.50% (2023) | 0.00% (2020) |
Complete Annual Historical Ledger (1999–2026)
Unit: % p.a. · Source: Bank for International Settlements (BIS) & European Central Bank (WS_CBPOL:M:XM)
| Year | Annual Value (% p.a.) | Real Policy Rate (CPI-Adj) | Intra-Year Range (Min – Max) | Monetary Regime & Historical Context |
|---|---|---|---|---|
| 2026 | 2.50% | -0.16% | 2.00% – 2.50% | - |
| 2025 | 2.00% | -0.13% | 2.00% – 3.00% | Post-tightening monetary recalibration across advanced and emerging central banks |
| 2024 | 3.00% | +0.63% | 3.00% – 4.50% | G10 policy rates peak and pivot toward gradual monetary normalization |
| 2023 | 4.50% | -0.98% | 2.50% – 4.50% | - |
| 2022 | 2.50% | -5.86% | 0.00% – 2.50% | Global inflation surge triggers fastest synchronized rate hiking cycle in four decades |
| 2021 | 0.00% | -2.59% | 0.00% – 0.00% | - |
| 2020 | 0.00% | -0.26% | 0.00% – 0.00% | COVID-19 pandemic emergency rate cuts and record balance sheet expansion |
| 2019 | 0.00% | -1.20% | 0.00% – 0.00% | - |
| 2018 | 0.00% | -1.75% | 0.00% – 0.00% | - |
| 2017 | 0.00% | -1.54% | 0.00% – 0.00% | - |
| 2016 | 0.00% | -0.24% | 0.00% – 0.05% | Bank of Japan introduces Yield Curve Control (YCC); post-Brexit BoE easing |
| 2015 | 0.05% | -0.14% | 0.05% – 0.05% | - |
| 2014 | 0.05% | -0.38% | 0.05% – 0.25% | ECB and European peers introduce Negative Interest Rate Policy (NIRP) |
| 2013 | 0.25% | -1.10% | 0.25% – 0.75% | - |
| 2012 | 0.75% | -1.75% | 0.75% – 1.00% | - |
| 2011 | 1.00% | -1.71% | 1.00% – 1.50% | European Sovereign Debt Crisis and Swiss franc safe-haven surge |
| 2010 | 1.00% | -0.62% | 1.00% – 1.00% | - |
| 2009 | 1.00% | +0.71% | 1.00% – 2.00% | - |
| 2008 | 2.50% | -0.78% | 2.50% – 4.25% | Global Financial Crisis drives major central banks to the zero lower bound and QE1 |
| 2007 | 4.00% | +1.87% | 3.50% – 4.00% | - |
| 2006 | 3.50% | +1.31% | 2.25% – 3.50% | - |
| 2005 | 2.25% | +0.07% | 2.00% – 2.25% | - |
| 2004 | 2.00% | -0.14% | 2.00% – 2.00% | - |
| 2003 | 2.00% | -0.08% | 2.00% – 2.75% | - |
| 2002 | 2.75% | +0.50% | 2.75% – 3.25% | - |
| 2001 | 3.25% | +0.90% | 3.25% – 4.75% | Dot-com bust and synchronized G10 monetary easing cycle |
| 2000 | 4.75% | +2.64% | 3.00% – 4.75% | - |
| 1999 | 3.00% | +1.91% | 2.50% – 3.00% | Launch of the Euro and establishment of the European Central Bank (ECB) |
Frequently Asked Questions - ECB Policy Rate
What is the current ECB Main Policy Interest Rate?
As of Sep 2026, the ECB Main Policy Interest Rate is 2.50% per annum. Adjusted for headline inflation (3.25%), the ex-post real policy rate in Euro Area stands at -0.75%.
What was the highest and lowest European Central Bank interest rate on record?
Across the 1999-2026 archive, the ECB Main Policy Interest Rate reached a record high of 4.75% in Oct 2000 and a record low of 0.00% in Mar 2016. The long-run annual mean is 1.74%.
What is the European Central Bank inflation target?
The European Central Bank operates with an official inflation target of 2.0% Medium-Term (HICP). Its statutory mandate is: Primary objective: maintain price stability across the Eurosystem.
Source Metadata & Methodology Notes
- Primary Institution:
- Bank for International Settlements (BIS) & European Central Bank
- Dataset / Dataflow:
- BIS Central Bank Policy Rates (WS_CBPOL)
- Canonical Series ID:
- WS_CBPOL:M:XM
- Reuse & License:
- Terms of permitted use of BIS statistics
- Primary compilation: From 18 Sep 2024 onwards: official central bank steering rate is the deposit facility rate, fixed rate; from 15 Oct 2008 to 17 Sep 2024: official central bank liquidity providing, main refinancing operations, fixed rate; from 28 Jun 2000 to 14 Oct 2008: official central bank liquidity providing, main refinancing operations, minimum bid rate; from 5 Jan 1999 to 27 Jun 2000: official central bank liquidity providing, main refinancing operations, fixed rate.
- Reporting agency: European Central Bank; harmonized and disseminated via the BIS WS_CBPOL statistical dataflow.
- Annual table values represent the year-end (December or latest available month) policy rate reading; minimum and maximum columns record the intra-year policy rate corridor.
- Ex-Post Real Policy Rate series is computed as Nominal Policy Rate (% p.a.) minus contemporaneous year-on-year Headline CPI Inflation (% from BIS WS_LONG_CPI).
Cite This Dataset (APA & BibTeX)
@misc{cbd_cbpol_ecb,
author = {CentralBankData.com},
title = {ECB Main Policy Interest Rate (Euro Area)},
note = {Compiled from Bank for International Settlements WS_CBPOL:M:XM},
year = {2026},
url = {https://centralbankdata.com/ecb-interest-rate}
}