ECB decision on 29 October 2026: what it means for Euribor
The ECB's Governing Council announces its next interest rate decision on 29 October 2026 at 14:15 Frankfurt time. The deposit facility rate, the rate Euribor follows most closely, is 2.50 %.
Where Euribor stands
On 12 October 2026, 3-month Euribor fixed at 2.632 %, 6-month at 2.892 % and 12-month at 3.177 %, against a deposit facility rate of 2.50 %. The spread over the deposit rate is +13 basis points for 3-month Euribor and +68 for 12-month. 12-month Euribor is 54 basis points above 3-month: the money market is pricing further increases within a year.
| Rate | Value | vs deposit rate (bp) |
|---|---|---|
| Euribor 3M | 2.632 % | +13 |
| Euribor 6M | 2.892 % | +39 |
| Euribor 12M | 3.177 % | +68 |
| ECB deposit rate | 2.50 % | – |
What the decision means for 3, 6 and 12-month Euribor
Euribor moves before the ECB, not on the day. Across the 22 decisions since January 2024, 3-month Euribor moved on average 1.6 basis points on the first fixing after the announcement, against 8.5 basis points over the four weeks before it. For 12-month Euribor the figures are 2.4 and 10.2.
So a decision the market expected changes Euribor little the next day; what moves it is a surprise, and what the ECB signals about the meetings after. 3-month Euribor tracks the deposit rate most closely. 6- and 12-month Euribor also carry the expected path of rates over the months ahead, which is why they turn first.
Chart: Euribor and the ECB deposit rate
What it means for a mortgage
On a €150,000 loan over 25 years, every 0.25 percentage point move in 12-month Euribor changes the monthly payment by about €21, at today's level of 4.18 % including a 1.00 % margin.
A Euribor-linked loan only changes on its reset date, typically every 3, 6 or 12 months, so a move in Euribor reaches the payment at the next reset, not on the day of the decision.
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Daily rates and history: 3-month Euribor · 6-month Euribor · 12-month Euribor · ECB interest rate