Policy rate · ECB
ECB interest rate: 2.5%
European Central Bank (Frankfurt): current deposit facility rate, next meeting, what the market expects and recent decisions. Updated automatically.
Current rate
2.5%
deposit facility rate
Last move
+25 bp
on September 16, 2026
Next meeting
December 17, 2026
The market mostly expects a hike (89%)
What the market expects for the next meetings
Probabilities derived from short-term interest rate futures.
| Meeting | Cut | Hold | Hike | Expected rate |
|---|---|---|---|---|
| December 17, 2026 | 0% | 11% | 89% | 2.72% |
| February 4, 2027 | 0% | 63% | 37% | 2.81% |
| March 18, 2027 | 0% | 72% | 28% | 2.88% |
| April 29, 2027 | 0% | 77% | 23% | 2.94% |
| June 10, 2027 | 0% | 80% | 20% | 2.99% |
| July 22, 2027 | 0% | 86% | 14% | 3.03% |
Recent decisions
- November 10, 20262.5% 0 bp
- September 16, 20262.5% +25 bp
- June 17, 20262.25% +25 bp
- June 11, 20252% −25 bp
- April 23, 20252.25% −25 bp
- March 12, 20252.5% −25 bp
- February 5, 20252.75% −25 bp
- December 18, 20243% −25 bp
- October 23, 20243.25%
ECB rate, in plain English
The deposit facility rate is the main tool of the European Central Bank. The ECB sets it 8 times a year to steer inflation and growth: raising it cools the economy and inflation, cutting it stimulates them.
The ECB's decisions are among the releases that move the euro the most: before opening a position on a EUR pair, it helps to know when the next meeting is and what the market expects from it.
FAQ
- What is the ECB's interest rate today?
- The ECB's deposit facility rate is 2.5%, since September 16, 2026.
- When is the ECB's next meeting?
- The ECB's next decision is due on December 17, 2026. The ECB meets 8 times a year to set its rate.
- How does the ECB's rate affect the euro?
- A higher rate pays more on euro deposits and tends to support it against other currencies; a cut does the opposite. What moves the price is not the decision itself but the gap between the decision and what the market expected.
Other central banks
Take your trading further with Kova
A journal with an AI that reads your data, free to start, and the full macro terminal with Pro.
Get my free diagnosticOfficial sources: FRED (Federal Reserve Bank of St. Louis), ECB, Bank of England, Bank of Canada, Eurostat. This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.