ECB Holds Interest Rates at 2%, As Expected

11 September 2025

ECB Holds Interest Rates at 2%, As Expected
Photo of the Illumination of the ECB Building for the Europe Day 2025 in Frankfurt on May 8, 2025. Photo by the ECB.

By Marta Vilar – FRANKFURT (Econostream) – The European Central Bank’s Governing Council on Thursday decided to keep its key interest rates unchanged, as widely expected by markets and analysts.

The three ECB interest rates will stay at 2.0% for the deposit facility, at 2.15% for the main refinancing operations and at 2.40% for the marginal lending facility.

“Inflation is currently at around the 2% medium-term target and the Governing Council’s assessment of the inflation outlook is broadly unchanged”, the ECB said in a statement.

The ECB now projects HICP of 2.1% in 2025, 1.7% in 2026 and 1.9% in 2027, with the measure ex-energy and food at 2.4% in 2025, 1.9% in 2026 and 1.8% in 2027.

Economic growth projections are revised higher in 2025 to 1.2%, lower in 2026 to 1.0% and are left unchanged at 1.3% for 2027.

“The Governing Council is determined to ensure that inflation stabilises at its 2% target in the medium term”, the ECB said.