ECB Interest Rates
The Governing Council of European Central Bank sets interest rates for the euro area. Interest rates are in percentages per annumn.
Current rates effective 23 April 2025
Deposit Facility: 2.25%
The rate on the deposit facility, which banks may use to make overnight deposits with the Eurosystem. The Governing Council decided in March 2024 to continue to steer the monetary policy stance through this rate. Short-term money market interest rates are expected to evolve in the vicinity of the deposit facility rate with tolerance for some volatility as long as it does not blur the signal about the intended monetary policy stance.
Main refinancing operations (Fixed Rate Tender): 2.40%
The interest rate on the main refinancing operations. In these operations banks can borrow funds from the ECB against a broad set of collateral on a weekly basis. The rate is set above the deposit facility rate.
Marginal Lending: 2.65%
The rate on the marginal lending facility, which offers overnight credit to banks against a broad set of collateral. The rate is set above the main refinancing operations rate.
Previous rates
| Effective Date |
Deposit Facility |
Fixed Rate Tender |
Marginal Lending |
12/03/2025
|
2.50 |
2.65 |
2.90 |
| 05/02/2025 |
2.75 |
2.90 |
3.15 |
| 18/12/2024 |
3.00 |
3.15 |
3.40 |
| 23/10/2024 |
3.25 |
3.40 |
3.65
|
| 18/09/2024 |
3.50 |
3.65 |
3.90 |
| 12/06/2024 |
3.75 |
4.25 |
4.50 |
| 20/09/2023 |
4.00 |
4.50 |
4.75 |
| 02/08/2023 |
3.75 |
4.25 |
4.50 |
| 21/06/2023 |
3.50 |
4.00 |
4.25 |
| 10/05/2023 |
3.25 |
3.75 |
4.00 |
| 22/03/2023 |
3.00 |
3.50 |
3.75 |
| 08/02/2023 |
2.50 |
3.00 |
3.25 |
| 21/12/2022 |
2.00 |
2.50 |
2.75 |
| 02/11/2022 |
1.50 |
2.00 |
2.25 |
| 01/09/2022 |
0.75 |
1.25 |
1.50 |
| 27/07/2022 |
0.00 |
0.50 |
0.75 |
| 18/09/2019 |
-0.50 |
0.00 |
0.25 |
| 16/03/2016 |
-0.40 |
0.00 |
0.25 |
| 09/12/2015 |
-0.30 |
0.05 |
0.30 |
| 10/09/2014 |
-0.20 |
0.05 |
0.30 |
| 11/06/2014 |
-0.10 |
0.15 |
0.40 |
| 13/11/2013 |
0.00 |
0.25 |
0.75 |
| 08/05/2013 |
0.00 |
0.50 |
1.00 |
| 11/07/2012 |
0.00 |
0.75 |
1.5 |
| 14/12/2011 |
0.25 |
1.00 |
1.75 |
| 09/11/2011 |
0.5 |
1.25 |
2.00 |
| 14/09/2011 |
0.75 |
1.50 |
2.25 |
| 10/08/2011 |
0.75 |
1.50 |
2.25 |
| 13/07/2011 |
0.75 |
1.50 |
2.25 |
| 13/04/2011 |
0.50 |
1.25 |
2.00 |
| 13/08/2009 |
0.50 |
1.25 |
2.00 |