EnergyGermany Official institution
ECB holds interest rates steady as energy prices keep climbing
The European Central Bank's Governing Council decided on 29 October 2026 to leave its three key interest rates unchanged. It said energy prices kept rising, which raises the risk of higher inflation and weaker growth. Underlying inflation has stayed broadly stable so far, and wages have not yet reacted significantly.
What does it mean?
The central bank is keeping borrowing costs where they are for now. Energy prices are still going up, which could push prices higher and slow the economy, so the bank is waiting to see how far this spreads.
Who is affected?
Borrowers and savers in the euro area, whose loan and deposit rates depend on these key rates.