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ECB keeps its deposit rate at 2.50% as energy prices rise

The Governing Council kept all three key ECB rates unchanged on 29 October 2026. It said energy prices have kept rising, which adds to upside risks for inflation and downside risks for growth.

By FTC Editorial TeamPublished 1 min read

The Governing Council of the European Central Bank kept its three key interest rates unchanged on 29 October 2026. The deposit facility rate stays at 2.50%, the main refinancing operations rate at 2.65% and the marginal lending facility rate at 2.90% (ECB press release, monetary policy decisions, 29 October 2026).

ECB keeps its deposit rate at 2.50% as energy prices rise — central bank rate path diagram
A central bank's policy rate path across recent meetings

The decision in numbers

  • Deposit facility rate: 2.50%, unchanged
  • Main refinancing operations rate: 2.65%, unchanged
  • Marginal lending facility rate: 2.90%, unchanged
  • Press conference: 14:45 CET on 29 October 2026
ECB keeps its deposit rate at 2.50% as energy prices rise — leverage and margin diagram
Leverage: a small margin controlling a larger position

What the statement says

The bank says energy prices have continued to rise. It expects the energy shock to push inflation up and growth down, and it says financing conditions have tightened since the last meeting. Underlying inflation has stayed broadly stable so far, and wages do not show a material response at this stage. The Governing Council says it is not pre-committing to a particular rate path and will decide meeting by meeting.

ECB keeps its deposit rate at 2.50% as energy prices rise — risk-reward diagram
A risk-reward ratio of 1 to 2

Reading it

The rate was raised in September (the ECB's September increase), and this statement holds it there. The bank is leaving the next move open, so the inflation and growth data before its next meeting will matter most. For the euro area inflation reading the bank was weighing at its September meeting, see euro area inflation confirmed at 3.8%. For how rate decisions reach the single currency, see what moves EUR/USD. Live prices: EUR/USD.

Sources

  1. ECB: Monetary policy decisions, 29 October 2026

Common questions

What did the ECB decide on 29 October 2026?

It kept the deposit facility rate at 2.50%, the main refinancing operations rate at 2.65% and the marginal lending facility rate at 2.90%.

Did the ECB signal its next rate move?

No. The statement says the Governing Council is not pre-committing to a particular rate path and will decide meeting by meeting.

This article is for information only and is not financial advice. Trading forex and CFDs carries a high risk of losing money. Read the risk warning. Spotted an error? Tell the editors.

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