ECB leaves October policy rates unchanged

The European Central Bank announced on 29 October 2026 that its Governing Council had left all three key interest rates unchanged. The deposit facility rate remains 2.50%, the main refinancing operations rate 2.65% and the marginal lending facility rate 2.90%. These figures refer to that dated policy decision rather than a continuously updated rate feed.

The Council identified higher energy prices as a source of inflation pressure and weaker growth prospects. It said underlying inflation had remained broadly stable so far, while wage developments had not yet shown a material response to the energy shock. It also reported tighter financing conditions since the previous meeting.

The ECB reiterated that decisions would depend on incoming data and the assessment made at each meeting. It did not commit to a predetermined rate path. Its APP and PEPP securities portfolios continue to decline because principal from maturing holdings is no longer reinvested.

Source: ECB monetary policy release, published 29 October 2026; verified 9 November 2026.