12 Sep Euro Area Interest Rate
The benchmark interest rate In the Euro Area was last recorded at 0 percent. Interest Rate in the Euro Area averaged 1.90 percent from 1998 until 2019, reaching an all time high of 4.75 percent in October of 2000 and a record low of 0 percent in March of 2016. In the Euro Area, benchmark interest rate is set by the Governing Council of the European Central Bank. The primary objective of the ECBâ€™s monetary policy is to maintain price stability which is to keep inflation below, but close to 2 percent over the medium term. In times of prolonged low inflation and low interest rates, ECB may also adopt non-standard monetary policy measures, such as asset purchase programmes. The official interest rate is the Main refinancing operations rate.
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