The European Central Bank expanded its Pandemic Emergency Purchase Programme (PEPP) by another €500 billion and extended it to at least the end of March 2022 at its December monetary policy meeting, aiming to support the Eurozone's struggling economy amid the coronavirus crisis. Moreover, policymakers approved more long-term loans on cheap terms for another year until June 2022, and announced four additional pandemic emergency longer-term refinancing operations to be offered in 2021. The main refinancing rate was held at 0 percent while the deposit rate remained at a record low -0.5 percent. Meanwhile, the outlook for economic activity has been revised down in the short term, with GDP seen expanding by just 3.9 percent in 2021 compared to 5 percent predicted in September. Inflation projections for 2020 and 2022 were also revised down to 0.2 and 1.1 percent from 0.3 and 1.3 percent, respectively. source: European Central Bank
Interest Rate in the Euro Area averaged 1.81 percent from 1998 until 2020, reaching an all time high of 4.75 percent in October of 2000 and a record low of 0 percent in March of 2016. This page provides - Euro Area Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Interest Rate in Euro Area is expected to be 0.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Euro Area to stand at 0.00 in 12 months time. In the long-term, the Euro Area Interest Rate is projected to trend around 0.00 percent in 2021, according to our econometric models.