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 2026-06-11）
The Governing Council raised the three key ECB interest rates by 0.25 percentage point, effective 17 June: the deposit facility rate to 2.25%, the main refinancing rate to 2.40%, and the marginal lending rate to 2.65%. Eurosystem staff projections put headline inflation at 3.0% in 2026, 2.3% in 2027 and 2.0% in 2028, and core inflation (excluding energy and food) at about 2.5% in 2026–2027 and 2.2% in 2028; the 2026 and 2027 inflation projections were revised up, reflecting higher energy prices. Real GDP growth was projected at 0.8% in 2026, 1.2% in 2027 and 1.5% in 2028, revised down from March, reflecting the impact of the Middle East conflict on commodity markets and confidence. The Council reiterated a data-dependent, meeting-by-meeting approach and did not pre-commit to a particular rate path.