European Central Bank meeting —

At its 11 September 2025 meeting, the European Central Bank held its policy rate at 2.00%.

Decision

hold — 2.00% to 2.00%

Key passages

The Governing Council today decided to keep the three key ECB interest rates unchanged.

The hold decision confirms the pause after previous cuts, aligning with market expectations.

Inflation is currently at around the 2% medium-term target and the Governing Council’s assessment of the inflation outlook is broadly unchanged.

Inflation at target reduces urgency for further action, but no new hawkish signal.

Meeting documents

Background reading

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