EnergyGermany Official institution
ECB holds interest rates steady as energy shock clouds outlook
The European Central Bank kept its three key interest rates unchanged on 29 October 2026. The deposit rate stays at 2.50%, the main refinancing rate at 2.65%, and the marginal lending rate at 2.90%. The bank said rising energy prices are pushing inflation risks up while threatening growth, and it will set policy meeting by meeting.
What does it mean?
The ECB is leaving borrowing costs where they are for now, so loans and savings rates in the euro area won't change because of this decision. The bank is watching energy prices closely, since they could push up prices for everyday goods while slowing the economy.
Who is affected?
Banks and borrowers in the euro area, and people with savings or loans whose rates depend on ECB policy.