Overview
The meeting at which the European Central Bank's Governing Council sets monetary policy. Held eight times a year, it decides the three key ECB rates — the main refinancing, deposit facility, and marginal lending rates. The most important event for the euro area's monetary policy, followed by the President's press conference.
Meeting summary （published 2026-10-08）
At its meeting on 9-10 September 2026, the ECB Governing Council unanimously decided to raise the three key ECB interest rates by 25 basis points. The conflict in the Middle East continues to generate persistent inflation pressures, with inflation set to remain well above the 2% medium-term target for an extended period. The ECB staff baseline projections show headline inflation averaging 3.0% in 2026, 2.5% in 2027 and 2.1% in 2028. Economic growth projections were revised upward to 0.9% for 2026, 1.4% for 2027 and 1.5% for 2028, reflecting greater than expected resilience of the euro area economy. Members judged that risks to the inflation outlook remained to the upside, while risks to economic growth remained to the downside. Core inflation was expected to remain above 2% throughout the projection horizon. The Governing Council is not pre-committing to a particular rate path.