Legend
- High Impact Expected
- Med Impact Expected
- Low Impact Expected
- Non-Economic
Revision
- Green NumberBetter than forecast -or- revised better
- Red NumberWorse than forecast -or- revised worse
- m/mMonth Over Month
- q/qQuarter Over Quarter
- y/yYear Over Year
- K Thousand
- M Million
- B Billion
- T Trillion
EZ ECB Main Refinancing Rate
It's an important driver of commodity demand - lower interest rates decrease carrying costs. Reduced costs to store goods will spur companies to make investments in raw materials, leading to higher inventory levels;
The rate decision is usually priced into the market, so it tends to be overshadowed by the ECB Press Conference, held 45 minutes later. Source changed release frequency from monthly to eight times per year as of Jan 2015;
- EZ Main Refinancing Rate Graph
- History
| Expected Impact / Date | Actual | Forecast | Previous |
|---|---|---|---|
| Jun 11, 2026 | 2.40% | 2.40% | 2.15% |
| Apr 30, 2026 | 2.15% | 2.15% | 2.15% |
| Mar 19, 2026 | 2.15% | 2.15% | 2.15% |
| Feb 5, 2026 | 2.15% | 2.15% | 2.15% |
| Dec 18, 2025 | 2.15% | 2.15% | 2.15% |
| Oct 30, 2025 | 2.15% | 2.15% | 2.15% |
| Sep 11, 2025 | 2.15% | 2.15% | 2.15% |
| Jul 24, 2025 | 2.15% | 2.15% | 2.15% |
- Details
Specs
Source:
Measures:
Interest rate on the main refinancing operations that provide the bulk of liquidity to the banking system;
Usual Effect:
'Actual' less than 'Forecast' is good for energy prices;
Frequency:
Scheduled 8 times per year;
Derived Via:
The 6 members of the ECB Executive Board and 15 of the 20 governors of the Euro area central banks vote on where to set the rate, via rotation. The split of votes is not publicly revealed;
Also Called:
Interest Rates, Refi Rate, Repo Rate, Minimum Bid Rate;
Acro Expand:
European Central Bank (ECB);
Event Type:
Central Bank