European Central Bank meeting —

At its 19 March 2026 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.

No change in rates, as expected; focus is on forward guidance and risk assessment.

The war in the Middle East has made the outlook significantly more uncertain, creating upside risks for inflation and downside risks for economic growth.

Explicitly flags upside inflation risk, which could delay rate cuts or prompt hikes.

Meeting documents

Background reading

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