Raised by 25 bp to 2.50% on 16 Sept 2026; the second hike in a row since 17 Jun 2026, +50 bp in all.
Deposit facility rate
Every change of the rate
| Date | Move | From | To | Size |
|---|---|---|---|---|
| 16 Sept 2026 | Hike | 2.25% | 2.50% | +25 bp |
| 17 Jun 2026 | Hike | 2.00% | 2.25% | +25 bp |
| 11 Jun 2025 | Cut | 2.25% | 2.00% | −25 bp |
| 23 Apr 2025 | Cut | 2.50% | 2.25% | −25 bp |
| 12 Mar 2025 | Cut | 2.75% | 2.50% | −25 bp |
| 5 Feb 2025 | Cut | 3.00% | 2.75% | −25 bp |
| 18 Dec 2024 | Cut | 3.25% | 3.00% | −25 bp |
| 23 Oct 2024 | Cut | 3.50% | 3.25% | −25 bp |
| 18 Sept 2024 | Cut | 4.25% | 3.50% | −75 bp |
| 12 Jun 2024 | Cut | 4.50% | 4.25% | −25 bp |
| 20 Sept 2023 | Hike | 4.25% | 4.50% | +25 bp |
| 2 Aug 2023 | Hike | 4.00% | 4.25% | +25 bp |
The 29 earlier decisions, back to Dec 2006
| Date | Move | From | To | Size |
|---|---|---|---|---|
| 21 Jun 2023 | Hike | 3.75% | 4.00% | +25 bp |
| 10 May 2023 | Hike | 3.50% | 3.75% | +25 bp |
| 22 Mar 2023 | Hike | 3.00% | 3.50% | +50 bp |
| 8 Feb 2023 | Hike | 2.50% | 3.00% | +50 bp |
| 21 Dec 2022 | Hike | 2.00% | 2.50% | +50 bp |
| 2 Nov 2022 | Hike | 1.25% | 2.00% | +75 bp |
| 14 Sept 2022 | Hike | 0.50% | 1.25% | +75 bp |
| 27 Jul 2022 | Hike | 0.00% | 0.50% | +50 bp |
| 16 Mar 2016 | Cut | 0.05% | 0.00% | −5 bp |
| 10 Sept 2014 | Cut | 0.15% | 0.05% | −10 bp |
| 11 Jun 2014 | Cut | 0.25% | 0.15% | −10 bp |
| 13 Nov 2013 | Cut | 0.50% | 0.25% | −25 bp |
| 8 May 2013 | Cut | 0.75% | 0.50% | −25 bp |
| 11 Jul 2012 | Cut | 1.00% | 0.75% | −25 bp |
| 14 Dec 2011 | Cut | 1.25% | 1.00% | −25 bp |
| 9 Nov 2011 | Cut | 1.50% | 1.25% | −25 bp |
| 13 Jul 2011 | Hike | 1.25% | 1.50% | +25 bp |
| 13 Apr 2011 | Hike | 1.00% | 1.25% | +25 bp |
| 13 May 2009 | Cut | 1.25% | 1.00% | −25 bp |
| 8 Apr 2009 | Cut | 1.50% | 1.25% | −25 bp |
| 11 Mar 2009 | Cut | 2.00% | 1.50% | −50 bp |
| 21 Jan 2009 | Cut | 2.50% | 2.00% | −50 bp |
| 10 Dec 2008 | Cut | 3.25% | 2.50% | −75 bp |
| 12 Nov 2008 | Cut | 3.75% | 3.25% | −50 bp |
| 15 Oct 2008 | Cut | 4.25% | 3.75% | −50 bp |
| 9 Jul 2008 | Hike | 4.00% | 4.25% | +25 bp |
| 13 Jun 2007 | Hike | 3.75% | 4.00% | +25 bp |
| 14 Mar 2007 | Hike | 3.50% | 3.75% | +25 bp |
| 13 Dec 2006 | Hike | 3.25% | 3.50% | +25 bp |
Stories naming the ECBthe last sixty days, ranked by Oyticker for market impact
- 55Impact
ECB Governing Council Member on Geopolitical Headwinds, Growth Resilience, and Gold's Reserve Role
Joachim Nagel, ECB official, addresses how geopolitical fragmentation affects eurozone growth, monetary policy transmission via energy shocks, and central-bank reserve management. Eurozone growth revised upward to 0.9% (2026) and ~1.5% (2027–28); inflation projected at 3.0% (2026), declining to 2.1% (2028), with upside risks from energy and food prices.
Central Banking & Monetary PolicyEnergyCommodities (Gold) - 25Impact
ECB Main Refinancing Operation – 7-day liquidity provision at 2.65%
The ECB announced a standard 7-day MRO (Main Refinancing Operation) with fixed-rate tender at 2.65%, settling 7 October 2026, maturing 14 October 2026. Full allotment procedure applies.
EUR/USDBankingCapital Markets - 45Impact
ECB's Lane outlines diagnostic framework for monetary policy amid energy shock and pass-through uncertainty
ECB Executive Board member Philip Lane articulated the central bank's three-pillar assessment framework—inflation outlook, underlying inflation dynamics, and monetary transmission strength—while noting that September 2026 data show energy inflation at 18.8% but non-energy inflation contained at 2.3%, with projections anticipating a modest rise to 2.6% in 2027 before moderating.
EUR/USDCentral Banking & Monetary PolicyFinancial Services - 65Impact
ECB Official Signals Geopolitical Risks Reshaping Growth, Inflation Outlook and Gold's Reserve Role
ECB President Nagel outlined how Middle East conflict and supply-chain disruption are reshaping the euro-area economic outlook, monetary policy stance, and central banks' reassessment of gold as a reserve asset amid heightened geopolitical fragmentation.
EUR/USDCentral BankingPrecious MetalsEnergy - 45Impact
ECB President Nagel on European Banking Competitiveness vs. US Peers
ECB President Joachim Nagel delivered remarks on European banking sector resilience and structural competitiveness gaps versus US and UK banks, highlighting capital market fragmentation and regulatory complexity as key headwinds to efficiency.
BankingCapital MarketsFinancial Services - 35Impact
ECB Advances Digital Euro Pilot and Payment System Infrastructure
The ECB announced merchant recruitment for digital euro pilot testing (deadline 27 October 2026) and approved go-live of Pontes, a wholesale tokenised-asset settlement system using central bank money, on 21 September 2026. These represent incremental steps in euro-area payment modernisation and digital currency development.
Financial ServicesPayments & SettlementCapital Markets - 72Impact
ECB's Lagarde flags AI misalignment, cyber, and geopolitical risks to financial stability
ECB President Lagarde identified three interconnected systemic risks from AI adoption in finance: trading misalignment (agents pursuing unintended strategies), cyber resilience (frontier models accelerating attack speed), and geopolitical concentration (US/China control of critical AI models). She emphasized the need for macroprudential monitoring as AI autonomy expands.
BankingCapital MarketsFinancial ServicesCybersecurity - 45Impact
ECB President Nagel: European banks resilient but structurally fragmented vs. US peers
ECB President Joachim Nagel stated that European banks have strengthened post-crisis but face persistent competitive disadvantages versus US banks due to fragmented capital markets, complex cross-border regulation, and lack of economies of scale. Policy priorities include capital-market integration, regulatory simplification, and proportionate rules for smaller banks.
BankingCapital MarketsFinancial Services - 45Impact
ECB official calls for European AI sovereignty strategy, proposes 'AI Airbus' model
A Bundesbank executive outlined a framework for European digital sovereignty in frontier AI, emphasizing integrated action across chips, cloud, and AI infrastructure, and proposing creation of a European-trained large language model consortium analogous to Airbus.
SemiconductorsArtificial intelligenceCloud ComputingTechnology InfrastructureManufacturing - 55Impact
Lagarde: ECB Prioritizes Price Stability Amid Interconnected Crises, Energy Shock Poses Immediate Threat
ECB President Lagarde identifies the Middle East conflict-driven energy crisis as the primary near-term threat to eurozone price stability and growth, while acknowledging the ECB's 2021 misjudgment on inflation persistence and the structural vulnerability of Europe's economic model to geopolitical shocks.
EUR/USDBankingEnergy - 65Impact
ECB's Schnabel: Rate Hikes Justified by Inflation Persistence Amid Overlapping Shocks
ECB Executive Board member Isabel Schnabel defended the June 2026 50 basis point rate increase (deposit rate to 2.5%) as an optimal response to Middle East conflict-driven energy shocks raising inflation forecasts above target, not merely insurance. She emphasized that monetary policy must respond to projected inflation deviations regardless of shock type, and that overlapping shocks—energy, AI investment, tariffs—hitting an economy with residual domestic price pressures justify a more forceful stance.
EUR/USDBankingCapital Markets - 35Impact
ECB/Bundesbank USD liquidity operation fully allotted at 4.13%
The Bundesbank conducted a 7-day USD reverse repo operation (tender 20260087) on 30 September 2026, allotting the full €207 million requested at a fixed rate of 4.13%, signalling adequate USD liquidity provision in the eurozone.
EUR/USDBankingCapital Markets
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