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European Central Bank

EUR · Official Website

Latest Statement

🦅 Hawkish

2026-07-23

The European Central Bank's Governing Council has decided to keep interest rates unchanged while closely monitoring the ongoing impact of energy price volatility and inflation. The Council remains committed to achieving its 2% inflation target and will adopt a data-dependent approach to future monetary policy decisions.

Key ECB interest rates remain unchanged at 2.25%, 2.40%, and 2.65%.
The Governing Council is closely monitoring the inflation outlook and the effects of the energy shock.
The asset purchase programs are declining predictably, with no reinvestment of principal payments from maturing securities.
The Council is prepared to adjust its instruments to ensure price stability and smooth monetary policy transmission.

⚡ Rate

↑0 ↓0 →1

🔮 Guidance

↑2 ↓0

📝 Classified Sentences

🔮 Guidance Hawkishmp_inflation

"The Governing Council is committed to setting monetary policy 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."

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	2.25%
EUR/USD	1.1525
GDP Growth	1.9%
M2 Growth	4.7%
10Y Yield	3.25%
2y10y Spread	+0.50%
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	88.24 USD/barrel	-4.8%	+5.4%
Natural Gas (EU)	17.93 USD/MMBtu	+18.8%	+88.1%

Recent Statements

Monetary policy decisions 🦅 Hawkish

2026-06-11

⚡ Rate

↑2 ↓0 →0

📝 Classified Sentences

⚡ Rate Hikemp_interest_rate

"The Governing Council today decided to raise the three key ECB interest rates by 25 basis points."

⚡ Rate Hikemp_interest_rate

"Accordingly, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be increased to 2.25%, 2.40% and 2.65% respectively, with effect from 17 June 2026."

Monetary policy decisions 🦅 Hawkish

2026-04-30

⚡ Rate

↑0 ↓0 →1

🔮 Guidance

↑3 ↓0

📝 Classified Sentences

🔮 Guidance Hawkishmp_inflation

"The Governing Council is committed to setting monetary policy to ensure that inflation stabilises at the 2% target in the medium term."

🔮 Guidance Hawkishmp_interest_rate

"The Governing Council will closely monitor the situation and follow a data-dependent and meeting-by-meeting approach to determining the appropriate monetary policy stance."

🔮 Guidance Hawkishmp_inflation

⚡ Rate Holdmp_interest_rate

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

Monetary policy decisions ⚖️ Neutral

2026-03-19

⚡ Rate

↑0 ↓0 →1

📝 Classified Sentences

⚡ Rate Holdmp_interest_rate

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

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

⚡ Rate Holdmp_interest_rate

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

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