ECB interest rate on deposit facilities 2008-2025

In June 2024, the European Central Bank (ECB) lowered its deposit facility interest rate for the first time in over two years, marking a shift in its monetary policy stance. This move was followed by a gradual adjustment, with the rate reaching 3.25 percent six months later. By December 2024, the ECB implemented an additional rate cut, bringing the rate down to three percent. In early 2025, the ECB implemented two further cuts, setting the rate at 2.5 percent in March 2025. These reductions came after a prolonged period of steady rate increases, signaling a measured response to evolving economic conditions and a potential recalibration of its approach to support growth and stability.