ECB main refinancing operations rate in Euro area
ECB main refinancing operations rate in Euro area was 2.65% in September 2026, according to European Central Bank. That is up 0.5 pts from September 2025.
ECB main refinancing operations rate in Euro area, January 1999 to September 2026
All 233 values
| Period | % |
|---|---|
| 2026-09 | 2.65 |
| 2026-08 | 2.4 |
| 2026-07 | 2.4 |
| 2026-06 | 2.4 |
| 2026-05 | 2.15 |
| 2026-04 | 2.15 |
| 2026-03 | 2.15 |
| 2026-02 | 2.15 |
| 2026-01 | 2.15 |
| 2025-12 | 2.15 |
| 2025-11 | 2.15 |
| 2025-10 | 2.15 |
| 2025-09 | 2.15 |
| 2025-08 | 2.15 |
| 2025-07 | 2.15 |
| 2025-06 | 2.15 |
| 2025-05 | 2.4 |
| 2025-04 | 2.4 |
| 2025-03 | 2.65 |
| 2025-02 | 2.9 |
| 2025-01 | 3.15 |
| 2024-12 | 3.15 |
| 2024-11 | 3.4 |
| 2024-10 | 3.4 |
| 2024-09 | 3.65 |
| 2024-08 | 4.25 |
| 2024-07 | 4.25 |
| 2024-06 | 4.25 |
| 2024-05 | 4.5 |
| 2024-04 | 4.5 |
| 2024-03 | 4.5 |
| 2024-02 | 4.5 |
| 2024-01 | 4.5 |
| 2023-12 | 4.5 |
| 2023-11 | 4.5 |
| 2023-10 | 4.5 |
| 2023-09 | 4.5 |
| 2023-08 | 4.25 |
| 2023-07 | 4 |
| 2023-06 | 4 |
| 2023-05 | 3.75 |
| 2023-04 | 3.5 |
| 2023-03 | 3.5 |
| 2023-02 | 3 |
| 2023-01 | 2.5 |
| 2022-12 | 2.5 |
| 2022-11 | 2 |
| 2022-10 | 1.25 |
| 2022-09 | 1.25 |
| 2022-08 | 0.5 |
| 2022-07 | 0.5 |
| 2022-06 | 0 |
| 2022-05 | 0 |
| 2022-04 | 0 |
| 2022-03 | 0 |
| 2022-02 | 0 |
| 2022-01 | 0 |
| 2021-12 | 0 |
| 2021-11 | 0 |
| 2021-10 | 0 |
| 2021-09 | 0 |
| 2021-08 | 0 |
| 2021-07 | 0 |
| 2021-06 | 0 |
| 2021-05 | 0 |
| 2021-04 | 0 |
| 2021-03 | 0 |
| 2021-02 | 0 |
| 2021-01 | 0 |
| 2020-12 | 0 |
| 2020-11 | 0 |
| 2020-10 | 0 |
| 2020-09 | 0 |
| 2020-08 | 0 |
| 2020-07 | 0 |
| 2020-06 | 0 |
| 2020-05 | 0 |
| 2020-04 | 0 |
| 2020-03 | 0 |
| 2020-02 | 0 |
| 2020-01 | 0 |
| 2019-12 | 0 |
| 2019-11 | 0 |
| 2019-10 | 0 |
| 2019-09 | 0 |
| 2019-08 | 0 |
| 2019-07 | 0 |
| 2019-06 | 0 |
| 2019-05 | 0 |
| 2019-04 | 0 |
| 2019-03 | 0 |
| 2019-02 | 0 |
| 2019-01 | 0 |
| 2018-12 | 0 |
| 2018-11 | 0 |
| 2018-10 | 0 |
| 2018-09 | 0 |
| 2018-08 | 0 |
| 2018-07 | 0 |
| 2018-06 | 0 |
| 2018-05 | 0 |
| 2018-04 | 0 |
| 2018-03 | 0 |
| 2018-02 | 0 |
| 2018-01 | 0 |
| 2017-12 | 0 |
| 2017-11 | 0 |
| 2017-10 | 0 |
| 2017-09 | 0 |
| 2017-08 | 0 |
| 2017-07 | 0 |
| 2017-06 | 0 |
| 2017-05 | 0 |
| 2017-04 | 0 |
| 2017-03 | 0 |
| 2017-02 | 0 |
| 2017-01 | 0 |
| 2016-12 | 0 |
| 2016-11 | 0 |
| 2016-10 | 0 |
| 2016-09 | 0 |
| 2016-08 | 0 |
| 2016-07 | 0 |
| 2016-06 | 0 |
| 2016-05 | 0 |
| 2016-04 | 0 |
| 2016-03 | 0 |
| 2016-02 | 0.05 |
| 2016-01 | 0.05 |
| 2015-12 | 0.05 |
| 2015-11 | 0.05 |
| 2015-10 | 0.05 |
| 2015-09 | 0.05 |
| 2015-08 | 0.05 |
| 2015-07 | 0.05 |
| 2015-06 | 0.05 |
| 2015-05 | 0.05 |
| 2015-04 | 0.05 |
| 2015-03 | 0.05 |
| 2015-02 | 0.05 |
| 2015-01 | 0.05 |
| 2014-12 | 0.05 |
| 2014-11 | 0.05 |
| 2014-10 | 0.05 |
| 2014-09 | 0.05 |
| 2014-08 | 0.15 |
| 2014-07 | 0.15 |
| 2014-06 | 0.15 |
| 2014-05 | 0.25 |
| 2014-04 | 0.25 |
| 2014-03 | 0.25 |
| 2014-02 | 0.25 |
| 2014-01 | 0.25 |
| 2013-12 | 0.25 |
| 2013-11 | 0.25 |
| 2013-10 | 0.5 |
| 2013-09 | 0.5 |
| 2013-08 | 0.5 |
| 2013-07 | 0.5 |
| 2013-06 | 0.5 |
| 2013-05 | 0.5 |
| 2013-04 | 0.75 |
| 2013-03 | 0.75 |
| 2013-02 | 0.75 |
| 2013-01 | 0.75 |
| 2012-12 | 0.75 |
| 2012-11 | 0.75 |
| 2012-10 | 0.75 |
| 2012-09 | 0.75 |
| 2012-08 | 0.75 |
| 2012-07 | 0.75 |
| 2012-06 | 1 |
| 2012-05 | 1 |
| 2012-04 | 1 |
| 2012-03 | 1 |
| 2012-02 | 1 |
| 2012-01 | 1 |
| 2011-12 | 1 |
| 2011-11 | 1.25 |
| 2011-10 | 1.5 |
| 2011-09 | 1.5 |
| 2011-08 | 1.5 |
| 2011-07 | 1.5 |
| 2011-06 | 1.25 |
| 2011-05 | 1.25 |
| 2011-04 | 1.25 |
| 2011-03 | 1 |
| 2011-02 | 1 |
| 2011-01 | 1 |
| 2010-12 | 1 |
| 2010-11 | 1 |
| 2010-10 | 1 |
| 2010-09 | 1 |
| 2010-08 | 1 |
| 2010-07 | 1 |
| 2010-06 | 1 |
| 2010-05 | 1 |
| 2010-04 | 1 |
| 2010-03 | 1 |
| 2010-02 | 1 |
| 2010-01 | 1 |
| 2009-12 | 1 |
| 2009-11 | 1 |
| 2009-10 | 1 |
| 2009-09 | 1 |
| 2009-08 | 1 |
| 2009-07 | 1 |
| 2009-06 | 1 |
| 2009-05 | 1 |
| 2009-04 | 1.25 |
| 2009-03 | 1.5 |
| 2009-02 | 2 |
| 2009-01 | 2 |
| 2008-12 | 2.5 |
| 2008-11 | 3.25 |
| 2008-10 | 3.75 |
| 2000-05 | 3.75 |
| 2000-04 | 3.75 |
| 2000-03 | 3.5 |
| 2000-02 | 3.25 |
| 2000-01 | 3 |
| 1999-12 | 3 |
| 1999-11 | 3 |
| 1999-10 | 2.5 |
| 1999-09 | 2.5 |
| 1999-08 | 2.5 |
| 1999-07 | 2.5 |
| 1999-06 | 2.5 |
| 1999-05 | 2.5 |
| 1999-04 | 2.5 |
| 1999-03 | 3 |
| 1999-02 | 3 |
| 1999-01 | 3 |
Definition
Fixed rate of the ECB main refinancing operations in force on the last day of the month, in percent per year.
From June 2000 to October 2008 the ECB ran these operations as variable rate tenders with a minimum bid rate and published no fixed rate, so those months are missing. The ECB has steered policy with the deposit facility rate since September 2024 (see policy_interest_rate).
How to cite
European Central Bank. Key ECB interest rates: main refinancing operations fixed rate in force on the last day of the month, euro area (FM.D.U2.EUR.4F.KR.MRR_FR.LEV). https://data-api.ecb.europa.eu/service/data/FM/D.U2.EUR.4F.KR.MRR_FR.LEV?format=csvdata&detail=dataonly. Retrieved 2026-10-09.Use this data in your AI agent
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What is the ECB main refinancing operations rate in Euro area?
ECB main refinancing operations rate in Euro area was 2.65% in September 2026, according to European Central Bank. That is up 0.5 pts from September 2025.
Where does this figure come from?
European Central Bank. Key ECB interest rates: main refinancing operations fixed rate in force on the last day of the month, euro area (FM.D.U2.EUR.4F.KR.MRR_FR.LEV). Retrieved by Invokely on 2026-10-09.
What was the highest ECB main refinancing operations rate in Euro area?
4.5% in September 2023, the highest value since January 1999 in this series.