What Is ECB key interest rate?

The European Central Bank (ECB) key interest rate is the set of policy rates used by the ECB to steer monetary policy in the eurozone. The three main rates are:

• The main refinancing operations rate — the rate at which banks can borrow from the ECB for one week.

• The deposit facility rate — the rate banks receive for overnight deposits with the ECB. This is the primary tool for steering monetary policy since 2022.

• The marginal lending facility rate — the rate for overnight borrowing from the ECB.

These rates serve as the eurozone equivalent of the risk-free rate and influence all borrowing costs across the euro area.

ECB rate decisions and historical data are available through the ECB Data API.

See also

• Risk-free rate

• US Treasury note

• Benchmark

• FDIC national rate