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European Central Bank

EUR · Official Website

Latest Statement

⚖️ Neutral

2026-03-19

The European Central Bank has decided to maintain its key interest rates unchanged while aiming to stabilize inflation at the 2% target amid increased uncertainty due to the ongoing conflict in the Middle East. The war is expected to raise energy prices, impacting inflation and economic growth projections for the medium term.

Inflation is projected to average 2.6% in 2026, with upward revisions due to higher energy prices from the Middle East conflict.
Economic growth forecasts have been downgraded, with average growth expected at 0.9% in 2026, reflecting global commodity market effects.
The Governing Council emphasizes a data-dependent approach to navigate uncertainties and will assess the impact of the conflict on inflation and growth.

⚡ Rate

↑0 ↓0 →1

📝 Classified Sentences

⚡ Rate Holdmp_interest_rate

"The Governing Council today decided to keep the three key ECB interest rates unchanged."

Bank Profile

Mandate

Price stability (2% HICP inflation over medium term)

Decision Types

Main refinancing operations rate, Deposit facility rate, Marginal lending facility rate, Asset purchases (APP/PEPP)

Policy Instruments

Refinancing operations, Standing facilities, Asset Purchase Programme (APP), TLTRO

Target Indicators

HICP inflation (2%), Core inflation, GDP growth, Credit conditions

Communication Style

Technical, data-driven, meeting-by-meeting approach, press conference Q&A

Committee

Governing Council - 6 Executive Board + 20 national central bank governors

Economic Indicators

Policy Rate	2.00%
EUR/USD	1.1525
GDP Growth	1.9%
M2 Growth	4.7%
10Y Yield	3.07%
2y10y Spread	+0.55%
Credit Spread	0.31%

HISTORICAL TRENDS

Policy Rate

FX Rate

CPI

GDP

10Y Yield

2Y-10Y Spread

Stance

Key Commodities

Top traded commodities for Eurozone

Commodity	Price	1D	30D
Brent Crude Oil	127.61 USD/barrel	+6.7%	+74.4%
Natural Gas (EU)	11.19 USD/MMBtu	-6.7%	+4.4%

Recent Statements

Monetary policy decisions 🦅 Hawkish

2026-02-05

⚡ Rate

↑0 ↓0 →1

🔮 Guidance

↑2 ↓0

📝 Classified Sentences

🔮 Guidance Hawkishmp_inflation

"The Governing Council is determined to ensure that inflation stabilises at its 2% target in the medium term."

🔮 Guidance Hawkishmp_inflation

"The Governing Council stands ready to adjust all of its instruments within its mandate to ensure that inflation stabilises at its 2% target in the medium term and to preserve the smooth functioning of monetary policy transmission."

⚡ Rate Holdmp_interest_rate

"The Governing Council today decided to keep the three key ECB interest rates unchanged."

Monetary policy decisions 🦅 Hawkish

2025-12-18

⚡ Rate

↑0 ↓0 →1

🔮 Guidance

↑2 ↓0

📝 Classified Sentences

🔮 Guidance Hawkishmp_inflation

"The Governing Council is determined to ensure that inflation stabilises at its 2% target in the medium term."

🔮 Guidance Hawkishmp_inflation

⚡ Rate Holdmp_interest_rate

"The Governing Council today decided to keep the three key ECB interest rates unchanged."

Monetary policy decisions 🦅 Hawkish

2025-10-30

⚡ Rate

↑0 ↓0 →1

🔮 Guidance

↑1 ↓0

📝 Classified Sentences

🔮 Guidance Hawkishmp_inflation

"The Governing Council is determined to ensure that inflation stabilises at its 2% target in the medium term."

⚡ Rate Holdmp_interest_rate

"The Governing Council today decided to keep the three key ECB interest rates unchanged."

Monetary policy decisions 🦅 Hawkish

2025-09-11

⚡ Rate

↑0 ↓0 →1

🔮 Guidance

↑2 ↓0

📝 Classified Sentences

🔮 Guidance Hawkishmp_inflation

"The Governing Council is determined to ensure that inflation stabilises at its 2% target in the medium term."

🔮 Guidance Hawkishmp_interest_rate

"In particular, the Governing Council’s interest rate decisions will be based on its assessment of the inflation outlook and the risks surrounding it, in light of the incoming economic and financial data, as well as the dynamics of underlying inflation and the strength of monetary policy transmission..."

⚡ Rate Holdmp_interest_rate

"The Governing Council today decided to keep the three key ECB interest rates unchanged."

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