Euro interest rates today
The euro short-term rate (€STR) and the European Central Bank's key interest rates, updated from the ECB several times a day.
How rates have moved
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Source: ECB statistics, ECB Data Portal (€STR, key rates).
What these rates mean for your loan
ECB key rates are set by the European Central Bank's Governing Council, usually at meetings every six weeks. The deposit facility rate is what banks earn on money left at the ECB overnight and is the rate that currently steers the economy. The main refinancing rate is what banks pay to borrow from the ECB for a week, and the marginal lending rate is the cost of emergency overnight borrowing.
The €STR is the average rate banks in the euro area pay to borrow from each other overnight without collateral. The ECB calculates and publishes it every business day, and it normally sits just below the deposit facility rate.
When these rates rise or fall, banks' own funding costs follow, and so do the rates they offer on new fixed-rate mortgages and on variable loans when they reset. A change of 0.25 points on a €200,000 loan over 25 years moves the monthly payment by roughly €25 to €30. Try it in the loan calculator, or see how much you can borrow at a different rate.
What about Euribor?
Most variable-rate mortgages in the euro area are priced as Euribor plus a fixed margin, with Euribor usually reset every 3, 6 or 12 months. Euribor reflects what banks expect ECB rates to be over that period, so it moves closely with the rates above. Euribor is owned and published by the European Money Markets Institute (EMMI), not the ECB, and its licence does not allow us to republish the figures here. You can see the latest Euribor rates on EMMI's website, and your loan contract or bank will tell you which Euribor tenor and margin apply to you.
What happened to LIBOR?
LIBOR no longer exists. It was phased out between 2021 and 2023 after concerns about how it was set, and the last temporary “synthetic” versions ended in September 2024.
Loans that used LIBOR have moved to new reference rates based on real transactions:
- Euro: €STR (euro LIBOR ended in 2021; Euribor continues)
- US dollar: SOFR, the Secured Overnight Financing Rate
- British pound: SONIA, the Sterling Overnight Index Average
- Swiss franc: SARON, the Swiss Average Rate Overnight
- Japanese yen: TONA, the Tokyo Overnight Average Rate
If an older loan still mentions LIBOR, your lender will have told you which rate replaced it. Ask them if you are unsure.
Rates are shown for information only and are not an offer of credit or financial advice. The rate you are offered depends on your lender, your loan and your circumstances.