Ecb Deposit Rate
Ecb Deposit Rate Definition
The euro foreign exchange reference rates (also known as the ECB reference rates) are published by the ECB at around 16:00 CET. Reference rates for all the official currencies of non-euro area Member States of the European Union and world currencies with the most liquid active spot FX markets are set and published. The ECB aims to ensure that the exchange rates published reflect the market. In April 2011, the ECB raised interest rates for the first time since 2008 from 1% to 1.25%, with a further increase to 1.50% in July 2011. However, in 2012–2013 the ECB sharply lowered interest rates to encourage economic growth, reaching the historically low 0.25% in November 2013.
| Date (with effect from) | Deposit facility | Main refinancing operations | Marginal lending facility | ||
|---|---|---|---|---|---|
| Fixed rate tenders Fixed rate | Variable rate tenders Minimum bid rate | ||||
| 2019 | 18 Sep. | −0.50 | 0.00 | - | 0.25 |
| 2016 | 16 Mar. | −0.40 | 0.00 | - | 0.25 |
| 2015 | 9 Dec. | −0.30 | 0.05 | - | 0.30 |
| 2014 | 10 Sep. | −0.20 | 0.05 | - | 0.30 |
| 11 Jun. | −0.10 | 0.15 | - | 0.40 | |
| 2013 | 13 Nov. | 0.00 | 0.25 | - | 0.75 |
| 8 May. | 0.00 | 0.50 | - | 1.00 | |
| 2012 | 11 Jul. | 0.00 | 0.75 | - | 1.50 |
| 2011 | 14 Dec. | 0.25 | 1.00 | - | 1.75 |
| 9 Nov. | 0.50 | 1.25 | - | 2.00 | |
| 13 Jul. | 0.75 | 1.50 | - | 2.25 | |
| 13 Apr. | 0.50 | 1.25 | - | 2.00 | |
| 2009 | 13 May | 0.25 | 1.00 | - | 1.75 |
| 8 Apr. | 0.25 | 1.25 | - | 2.25 | |
| 11 Mar. | 0.50 | 1.50 | - | 2.50 | |
| 21 Jan. | 1.00 | 2.00 | - | 3.00 | |
| 2008 | 10 Dec. | 2.00 | 2.50 | - | 3.00 |
| 12 Nov. | 2.75 | 3.25 | - | 3.75 | |
| 15 Oct.4 | 3.25 | 3.75 | - | 4.25 | |
| 9 Oct.3 | 3.25 | - | - | 4.25 | |
| 8 Oct. | 2.75 | - | - | 4.75 | |
| 9 Jul. | 3.25 | - | 4.25 | 5.25 | |
| 2007 | 13 Jun. | 3.00 | - | 4.00 | 5.00 |
| 14 Mar. | 2.75 | - | 3.75 | 4.75 | |
| 2006 | 13 Dec. | 2.50 | - | 3.50 | 4.50 |
| 11 Oct. | 2.25 | - | 3.25 | 4.25 | |
| 9 Aug. | 2.00 | - | 3.00 | 4.00 | |
| 15 Jun. | 1.75 | - | 2.75 | 3.75 | |
| 8 Mar. | 1.50 | - | 2.50 | 3.50 | |
| 2005 | 6 Dec. | 1.25 | - | 2.25 | 3.25 |
| 2003 | 6 Jun. | 1.00 | - | 2.00 | 3.00 |
| 7 Mar. | 1.50 | - | 2.50 | 3.50 | |
| 2002 | 6 Dec. | 1.75 | - | 2.75 | 3.75 |
| 2001 | 9 Nov. | 2.25 | - | 3.25 | 4.25 |
| 18 Sep. | 2.75 | - | 3.75 | 4.75 | |
| 31 Aug. | 3.25 | - | 4.25 | 5.25 | |
| 11 May | 3.50 | - | 4.50 | 5.50 | |
| 2000 | 6 Oct. | 3.75 | - | 4.75 | 5.75 |
| 1 Sep. | 3.50 | - | 4.50 | 5.50 | |
| 28 Jun.2 | 3.25 | - | 4.25 | 5.25 | |
| 9 Jun. | 3.25 | 4.25 | - | 5.25 | |
| 28 Apr. | 2.75 | 3.75 | - | 4.75 | |
| 17 Mar. | 2.50 | 3.50 | - | 4.50 | |
| 4 Feb. | 2.25 | 3.25 | - | 4.25 | |
| 1999 | 5 Nov. | 2.00 | 3.00 | - | 4.00 |
| 9 Apr. | 1.50 | 2.50 | - | 3.50 | |
| 22 Jan. | 2.00 | 3.00 | - | 4.50 | |
| 4 Jan. 1 | 2.75 | 3.00 | - | 3.25 | |
| 1 Jan. | 2.00 | 3.00 | - | 4.50 | |
| (interest rate levels in percentages per annum) | |||||
Prior to 10 March 2004, changes to the interest rate for main refinancing operations were, as a rule, effective as of the first operation following the date indicated, unless stated otherwise. The change on 18 September 2001 was effective on that same day. From 10 March 2004 onwards, the date refers both to the deposit and marginal lending facilities and to the main refinancing operations (with changes effective from the first main refinancing operation following the Governing Council decision), unless otherwise indicated.
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Let’s start at the beginning. The main key ECB rate is the refinancing rate. At the time of writing, the ECB refinancing rate is 0.050%, its lowest level ever. What does this 0.050% rate mean?
Ecb Rate 2020
To keep the prices stable (inflation below, but close to, 2%) the European Central Bank uses several monetary policy instruments to steer interest rates and manage banking liquidity. The most traditional operations are what we call the Main Refinancing Operations (MRO). When liquidity is needed, a bank can borrow directly from the ECB. Every week, banks of the Eurozone go (virtually) to the ECB desk to borrow money at the refinancing rate fixed by the ECB (0.050%). The loan is made under the form of a Repurchase Operation (Repo). The bank sells security assets to the ECB and borrows money. One week later, the bank gives the money back with interest to the ECB and recovers its security assets.
Ecb Deposit Rate Forecast
Ecb Deposit Rate Decision
The two other key ECB rates are the overnight deposit rate (-0.20%) and the overnight marginal lending rate (0.30%). The first is the interest rate paid by the ECB to banks having a deposit (for the moment, it is the opposite because the rate is negative). The second is the rate paid by banks to the ECB when they want to use overnight credit outside the refinancing operations.