The European Central Bank (ECB) kept its three key interest rates unchanged on 29 October 2026, leaving the deposit facility rate at 2.50%. The rates have applied since 16 September 2026, after two increases this year.
The main refinancing operations rate stays at 2.65% and the marginal lending facility rate at 2.90%, according to the ECB decision.
The ECB raised its deposit rate from 2.00% to 2.25% from 17 June 2026 and to 2.50% from 16 September 2026, its table of key rates shows.
The ECB said energy prices have kept rising, creating upside risks to inflation and downside risks to growth. Financing conditions have tightened since its previous meeting. It is not pre-committing to a particular rate path and will decide meeting by meeting.
Euro area inflation rose to 3.8% in September from 3.2% in August, the monetary policy statement says. Mortgage rates in the euro area rose to 3.6% in August from 3.5% in July, and mortgage demand fell substantially in the third quarter because of higher rates.
In Greece, the average rate on new floating-rate housing loans fell 14 basis points to 3.39% in August 2026, Bank of Greece data show. Greek inflation was 5.1% in September, according to the Bank of Greece’s Note on the Greek Economy.
What it means for buyers
The pause means no new increase in ECB rates this month. The June and September increases still stand, and the ECB has given no guidance on its next move.
The Bank of Greece’s September loan rate data, due on 2 November, is the next update on Greek mortgage rates. Our earlier piece sets out the questions non-resident buyers can put to Greek banks, and our report on the Q3 2026 bank lending survey covers loan demand in Greece.
What happens next
The Bank of Greece publishes interest rates on new loans for September 2026 on 2 November 2026.
