EconomyGermany Official institution
ECB holds interest rates steady as inflation rises on energy costs
The European Central Bank, led by President Christine Lagarde and Vice President Boris Vujčić, decided on 29 October 2026 to leave its three key interest rates unchanged. Euro-area inflation climbed to 3.8% in September as energy prices surged, with energy inflation at 18.9%. The bank said it will decide on rates meeting by meeting and is not committing to a set path; key rates are the benchmark rates that set borrowing costs across the economy.
What does it mean?
The ECB is keeping its main interest rates where they are for now. Energy costs are pushing prices up faster, so borrowing for homes and businesses stays expensive.
Who is affected?
Households with mortgages or loans, businesses that borrow from banks, and people paying higher fuel and energy bills.