On 29 October the Governing Council of the European Central Bank left its three key interest rates unchanged: 2.50% on the deposit facility, 2.65% on the main refinancing operations and 2.90% on the marginal lending facility. They remain the rates in force since 16 September, after the increase decided on 10 September.
In its release the ECB says energy prices have continued to rise, posing upside risks to inflation, while underlying inflation has so far remained broadly stable. Financing conditions have tightened since the previous meeting.
The central bank is not pre-committing to a particular rate path: it will decide meeting by meeting, based on the data. Payments on variable-rate mortgages follow Euribor, which also moves on market expectations: unchanged policy rates do not mean unchanged payments.
| Rate | From 16 September 2026 | After 29 October 2026 |
|---|---|---|
| Deposit facility | 2.50% | 2.50% |
| Main refinancing | 2.65% | 2.65% |
| Marginal lending | 2.90% | 2.90% |
Source: European Central Bank, releases of 10 September and 29 October 2026.
Sources
Where the data, rules and figures quoted here come from.
