At a glance. The next ECB interest rate decision is on Thursday 17 December 2026, usually announced at 14:15 Frankfurt time (13:15 in London) with the press conference about 30 minutes later. The deposit facility rate, the ECB's main policy rate, is 2.50% since 16 September 2026. Every meeting in your own time zone is in the economic calendar.
What the ECB interest rate decision is
The European Central Bank (ECB) sets monetary policy for the euro area. At its monetary policy meetings the Governing Council, made up of the six members of the Executive Board and the governors of the national central banks of the euro-area countries, decides the three key interest rates. Its aim is price stability, which the ECB defines as inflation of 2% over the medium term. The decision is announced on the second day of a meeting, and the market reaction depends on how far it differs from what was expected.
The next meetings, from the ECB's calendar
| Decision day | Weekday | In Frankfurt | In London | In New York |
|---|---|---|---|---|
| 17 December 2026 | Thursday | 14:15 (usual) | 13:15 | 08:15 |
| 4 February 2027 | Thursday | 14:15 (usual) | 13:15 | 08:15 |
| 18 March 2027 | Thursday | 14:15 (usual) | 13:15 | 09:15 |
| 29 April 2027 | Thursday | 14:15 (usual) | 13:15 | 08:15 |
| 10 June 2027 | Thursday | 14:15 (usual) | 13:15 | 08:15 |
| 22 July 2027 | Thursday | 14:15 (usual) | 13:15 | 08:15 |
| 9 September 2027 | Thursday | 14:15 (usual) | 13:15 | 08:15 |
| 28 October 2027 | Thursday | 14:15 (usual) | 13:15 | 08:15 |
The dates are the ECB's own, as held in the economic calendar on 2026-11-08. The announcement is usually at 14:15 Frankfurt time; the ECB's calendar page lists the day and not the hour, so the calendar marks the time as usual. The gaps between these meetings range from 42 to 49 days.
The three key rates, and where they are now
- Deposit facility rate: 2.50%. What banks earn on overnight deposits with the ECB. It is the rate the ECB steers with and the one the headlines quote.
- Main refinancing operations rate: 2.65%. The rate on the ECB's regular lending to banks.
- Marginal lending facility rate: 2.90%. What banks pay for overnight borrowing from the ECB.
The latest change was an increase of 0.25 percentage points on 16 September 2026. The main refinancing rate was 0.50 points above the deposit rate until 12 June 2024 and 0.15 points above it from 18 September 2024, when the ECB narrowed the gap. All figures are from the ECB Data Portal.
Every rate change since 2022
The deposit facility rate was −0.50% until 27 July 2022, when it went to 0.00%. Since then the ECB has changed it 20 times: 12 increases and 8 cuts. The peak was 4.00%, reached on 20 September 2023 after 10 increases.
| Date | Deposit rate | Change (points) | Main refinancing rate | Marginal lending rate |
|---|---|---|---|---|
| 16 September 2026 | 2.50% | +0.25 | 2.65% | 2.90% |
| 17 June 2026 | 2.25% | +0.25 | 2.40% | 2.65% |
| 11 June 2025 | 2.00% | −0.25 | 2.15% | 2.40% |
| 23 April 2025 | 2.25% | −0.25 | 2.40% | 2.65% |
| 12 March 2025 | 2.50% | −0.25 | 2.65% | 2.90% |
| 5 February 2025 | 2.75% | −0.25 | 2.90% | 3.15% |
| 18 December 2024 | 3.00% | −0.25 | 3.15% | 3.40% |
| 23 October 2024 | 3.25% | −0.25 | 3.40% | 3.65% |
| 18 September 2024 | 3.50% | −0.25 | 3.65% | 3.90% |
| 12 June 2024 | 3.75% | −0.25 | 4.25% | 4.50% |
| 20 September 2023 | 4.00% | +0.25 | 4.50% | 4.75% |
| 2 August 2023 | 3.75% | +0.25 | 4.25% | 4.50% |
| 21 June 2023 | 3.50% | +0.25 | 4.00% | 4.25% |
| 10 May 2023 | 3.25% | +0.25 | 3.75% | 4.00% |
| 22 March 2023 | 3.00% | +0.50 | 3.50% | 3.75% |
| 8 February 2023 | 2.50% | +0.50 | 3.00% | 3.25% |
| 21 December 2022 | 2.00% | +0.50 | 2.50% | 2.75% |
| 2 November 2022 | 1.50% | +0.75 | 2.00% | 2.25% |
| 14 September 2022 | 0.75% | +0.75 | 1.25% | 1.50% |
| 27 July 2022 | 0.00% | +0.50 | 0.50% | 0.75% |
Source: European Central Bank, Data Portal, key interest rates (dates on which a rate changed), as held in the calendar on 2026-11-08.
When the decision lands in your time zone
The decision is at 14:15 Frankfurt time and the press conference about 30 minutes later. Local times for the next meeting and a summer one:
| City | Thu 17 December 2026 | Thu 10 June 2027 |
|---|---|---|
| Frankfurt | 14:15 | 14:15 |
| London | 13:15 | 13:15 |
| New York | 08:15 | 08:15 |
| Dubai | 17:15 | 16:15 |
| Mumbai | 18:45 | 17:45 |
| Singapore | 21:15 | 20:15 |
| Tokyo | 22:15 | 21:15 |
| Sydney | 00:15 next day | 22:15 |
The two dates differ in some cities because Europe and other countries change their clocks on different days. For the press conference add 30 minutes. The calendar's time-zone selector does the conversion for you.
How a decision moves markets
A rate decision moves markets when it differs from what was expected, and the statement and the President's remarks at the press conference can matter as much as the rate itself. The euro is the first to react, so EUR/USD, EUR/GBP and EUR/JPY are the usual pairs. The decision is read together with euro-area inflation and the US releases that feed dollar expectations: the CPI report, the jobs report and the FOMC decision. Expectations come from market prices and forecasters; the calendar's forecast column covers data releases, and the official block lists only the official dates.
Sizing a trade around the decision
Two sharp moves, the statement and the press conference, make for an unusual half hour. Take EUR/USD with a $10,000 account risking 1% ($100). One pip is worth $10 per standard lot:
| Plan | Stop (pips) | Lots | Loss if stopped at the level | Loss if the stop fills 15 pips beyond |
|---|---|---|---|---|
| Normal day | 20 | 0.50 | $100 (1.0%) | $175 (1.8%) |
| Same lots into the release | 20 | 0.50 | $100 (1.0%) | $175 (1.8%) |
| Wider stop for the release | 50 | 0.20 | $100 (1.0%) | $130 (1.3%) |
| Half the risk, wider stop | 50 | 0.10 | $50 (0.5%) | $65 (0.7%) |
On a normal day a 20-pip stop and 0.50 lots risks $100. Keep the same size through the decision and let the stop fill 15 pips beyond its level, and the loss is $175 (1.8% of the account). A 50-pip stop at 1% risk cuts the size to 0.20 lots, and half the risk to 0.10. Decide beforehand whether you hold through both moves or stand aside until the press conference ends. The position size calculator, the lot size calculator and the EUR/USD page do the arithmetic for your own account.
Get these dates in your calendar
Subscribe once and the dates arrive in Apple Calendar, Outlook, Google Calendar or any app that reads iCalendar, in your own time zone. The feeds are rebuilt from the official schedules every day, and your calendar app refreshes them on its own timetable, usually every few hours to a day. A download is a one-time copy. Events carry the date, the time and the official figures, never forecasts, and show as free time.
| Feed | Subscribe | Download | |
|---|---|---|---|
| Fed, US jobs, CPI and PPI, ECB and UK data releases | Subscribe | Download .ics | Google Calendar |
| FOMC interest rate decisions and minutes | Subscribe | Download .ics | Google Calendar |
| US jobs report (NFP), CPI and PPI releases | Subscribe | Download .ics | Google Calendar |
| ECB monetary policy decisions and press conferences | Subscribe | Download .ics | Google Calendar |
| UK inflation, labour market and GDP releases | Subscribe | Download .ics | Google Calendar |
Where a publisher does not list the hour (FOMC and ECB announcements), the event says it is a usual time. The Google Calendar link opens Google, which then fetches the feed itself; this site sets no cookie and receives nothing from your calendar.
Dates: European Central Bank, Governing Council monetary policy meeting calendar. Rates: ECB Data Portal. As held in the calendar on 2026-11-08. Education only, not financial advice.
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Quick questions
When is the next ECB interest rate decision?
Thursday 17 December 2026, according to the ECB's calendar, usually announced at 14:15 Frankfurt time with the press conference about 30 minutes later.
What is the ECB deposit facility rate now?
2.50%, in force since 16 September 2026, according to the ECB Data Portal. The main refinancing rate is 2.65% and the marginal lending rate 2.90%.
What time is the ECB decision?
Usually 14:15 Frankfurt time, which is 13:15 UTC in winter and 12:15 UTC in summer. The calendar shows it in your time zone and marks the time as usual because the ECB's calendar page lists the day only.
How often does the ECB meet on interest rates?
Roughly every six weeks. In the calendar the gaps between meetings range from 42 to 49 days.
Which currencies move on an ECB decision?
The euro first, so EUR/USD, EUR/GBP and EUR/JPY are the usual pairs, with European indices and bond yields also reacting.
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Last updated November 2026. For education only. Not financial advice.