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Rate Decision

The Governing Council raised the deposit facility to 2.50%, main refinancing operations to 2.65% and marginal lending facility to 2.90%, effective 16 September 2026.

Sources: [1]

Inflation Outlook

Headline inflation is projected at 3.0% in 2026, 2.5% in 2027 and 2.1% in 2028. Core inflation is foreseen at 2.5%, 2.6% and 2.3% respectively.

Sources: [1]

Growth Projections

Economic growth is projected at 0.9% in 2026, 1.4% in 2027 and 1.5% in 2028, with upside revisions for 2026 and 2027.

Sources: [1]

Policy Stance

The Governing Council will follow a data-dependent approach without pre-committing to a rate path, assessing inflation outlook and risks meeting by meeting.

Sources: [1]

Sources

  1. European Central Bank — Monetary policy decisions ↗

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