The Governing Council of the European Central Bank (ECB) decided on 10 September 2026 to raise its three key interest rates by 25 basis points. Since 16 September the deposit facility rate has been 2.50%, the main refinancing operations rate 2.65% and the marginal lending facility rate 2.90%.
The ECB explains that the conflict in the Middle East continues to generate inflation pressures and that inflation is set to remain well above target for an extended period. Its staff project inflation of 3.0% in 2026, 2.5% in 2027 and 2.1% in 2028, and GDP growth of 0.9% in 2026, 1.4% in 2027 and 1.5% in 2028.
Source: European Central Bank — Monetary policy decisions
Key figures
| Indicator | Value | Reference period |
|---|---|---|
| Deposit facility rate | 2.50% | effective 16 September 2026 |
| Main refinancing operations rate | 2.65% | effective 16 September 2026 |
| Marginal lending facility rate | 2.90% | effective 16 September 2026 |
| Projected euro area inflation | 3.0% | 2026 (then 2.5% in 2027 and 2.1% in 2028) |
| Projected GDP growth | 0.9% | 2026 (then 1.4% in 2027 and 1.5% in 2028) |
Outlook, limits and risks
Source
- European Central Bank — Monetary policy decisions — published on 10 Sept 2026
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Original summary written from the sources cited. It is neither investment advice nor an offer. Figures and forecasts belong to their authors and may be revised.
