ECB Refinancing Rate in Italy
In Italy, monetary policy is determined by the European Central Bank (ECB). The European Central Bank (ECB) maintained historically low policy rates since the Eurozone crisis until 2021, reflecting prolonged economic sluggishness and low inflation in the Euro area. However, in 2022-2023, the focus shifted towards normalizing policy in response to economic recovery and rising inflation, with policy rates hiked to an over decade high. In 2024, the ECB started loosening its stance again amid moderating inflation.
The ecb refinancing rate ended 2024 at 3.15%, compared to the end-2023 value of 4.50% and the figure a decade earlier of 0.05%. It averaged 0.93% over the last decade. For more interest rate information, visit our dedicated page.
Italy Interest Rate Chart
Note: This chart displays Policy Interest Rate (%) for Italy from 2024 to 2015.
Source: Macrobond.
Italy Interest Rate Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| ECB Refinancing Rate (%, eop) | 0.00 | 0.00 | 2.50 | 4.50 | 3.15 |
| ECB Deposit Rate (%, eop) | -0.50 | -0.50 | 2.00 | 4.00 | 3.00 |
| 3-Month EURIBOR (%, eop) | -0.55 | -0.57 | 2.13 | 3.91 | 2.71 |
| 10-Year Bond Yield (%, eop) | 0.55 | 1.17 | 4.67 | 3.70 | 3.52 |
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