ECB holds rates unchanged; deposit facility remains at 2.50%
The 29 October decision keeps all three key rates unchanged. The ECB highlights energy risks without committing to its next rate move.
The European Central Bank’s Governing Council kept all three key interest rates unchanged on 29 October 2026, according to its official decision.
The deposit facility rate remains 2.50%, the main refinancing operations rate 2.65% and the marginal lending facility rate 2.90%.
The energy assessment
The ECB assesses continuing energy-price increases as creating upside inflation risks and downside growth risks. It says underlying inflation has remained broadly stable so far and wages do not show a material response at this stage. This is the central bank’s assessment, not a certain forecast of future prices.
The Governing Council reiterates its medium-term 2% inflation target and a data-dependent, meeting-by-meeting approach. It is not committing to a particular rate path.
What holding rates means
The decision concerns the ECB’s key rates. It does not set a uniform rate for every bank loan or deposit. It is separate from today’s announcement of Christine Lagarde’s future departure.
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