Banks › European Central Bank › History › 23 Jul 2026
European Central Bank: decision of 23 July 2026
The ECB Governing Council kept its three key interest rates unchanged, leaving the deposit facility rate at 2.25%.
Decision
hold
- Rate
- 2.25%=2.25%
- Change
- 0 bp
- Vote
- unanimous
- Announced
- 14:15 Berlin time
Sources
- Statement
- ecb.europa.eu/press/pr/date/2026/html/ecb.m…
- Account of the meeting
- ecb.europa.eu/press/accounts/2026/html/ecb.…
- Press conference
- ecb.europa.eu/press/press_conference/moneta…
- Recorded
- 23 Jul 2026
- Data
- JSON
What the bank said
The Governing Council said the outlook for energy prices stood close to the baseline of the June staff projections and well above the levels recorded before the conflict in the Middle East.
It said uncertainty remained high and the full inflationary impact of the energy shock had yet to play out, so it was closely monitoring the shock and its indirect and second-round effects.
Guidance. The Governing Council said it would follow a data-dependent, meeting-by-meeting approach and was not pre-committing to a particular rate path.
“Uncertainty remains high and the full inflationary impact of the energy shock has yet to play out.”
Before and after
- Previous decision: 11 Jun 2026, raised the deposit facility rate by 25 bp to 2.25%.
- Next decision: 10 Sept 2026, raised the deposit facility rate by 25 bp to 2.50%.
- All European Central Bank decisions and the rate history