Germany Policy Rate

1999 - 2026 | Monthly | % pa | European Central Bank

Key information about Germany Policy Rate

  • Germany cash rate (Policy Rate: Month End: Main Refinancing Operations) was set at 2.15 % pa in Feb 2026, compared with 2.15 % pa in the previous Jan 2026.
  • Germany Policy Rate averaged 0.75 % pa and is updated monthly, available from Jan 1999 to Feb 2026.
  • The data reached an all-time high of 4.75 % pa in Apr 2001 and a record low of 0.00 % pa in Jun 2022.




Related information about Germany Policy Rate

  • In the latest reports, Germany Short Term Interest Rate: Month End: EURIBOR: 3 Months was reported at -0.57 % pa in Nov 2021.
  • Its Long Term Interest Rate (Long Term Interest Rate: Month Avg: Germany: ECB Harmonised ) was reported at 2.81 % pa in Jan 2026.
  • Germany Exchange Rate against USD averaged 0.86 (USD/EUR) in Oct 2025.
  • Its Real Effective Exchange Rate was 96.30 in Jan 2026.

View Germany's Policy Rate from Jan 1999 to Feb 2026 in the chart:

Germany Policy Rate

What was Germany's Policy Rate in Feb 2026?

Germany cash rate (Policy Rate: Month End: Main Refinancing Operations) was set at 2.15 % pa in Feb 2026, compared with 2.15 % pa in the previous Jan 2026. See the table below for more data.

Last Previous Min Max Unit Frequency Range
2.15 Feb 2026 2.15 Jan 2026 0.00 Jun 2022 4.75 Apr 2001 % pa monthly Jan 1999 - Feb 2026

Policy Rate by Country Comparison

country/region Last Frequency Range
Albania (% pa) 2.50 Feb 2026 monthly Jan 2000 - Feb 2026
Algeria (% pa) 2.75 Feb 2026 monthly Jan 1963 - Feb 2026
Argentina (%) 28.28 Feb 2026 monthly Jan 1985 - Feb 2026
Armenia (% pa) 6.50 Feb 2026 monthly May 2001 - Feb 2026
Australia (% pa) 3.85 Feb 2026 monthly Aug 1990 - Feb 2026
Austria (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Azerbaijan (% pa) 6.50 Feb 2026 monthly Jan 2005 - Feb 2026
Bahrain (% pa) 4.50 Feb 2026 monthly Jan 2007 - Feb 2026
Bangladesh (% pa) 10.00 Jan 2026 monthly Sep 2009 - Jan 2026
Belarus (% pa) 9.75 Feb 2026 monthly Jul 1991 - Feb 2026
Belgium (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Bolivia (% pa) 3.41 Feb 2026 monthly Jan 2013 - Feb 2026
Botswana (% pa) 3.75 Apr 2022 monthly Aug 1976 - Apr 2022
Brazil (% pa) 15.00 Jan 2026 monthly Mar 1999 - Jan 2026
Bulgaria (% pa) 1.81 Dec 2025 monthly Feb 1991 - Dec 2025
Canada (% pa) 2.25 Feb 2026 monthly Dec 1992 - Feb 2026
Chile (% pa) 4.50 Feb 2026 monthly May 1995 - Feb 2026
China (% pa) 1.40 Nov 2025 monthly May 2012 - Nov 2025
Colombia (% pa) 10.25 Feb 2026 monthly Apr 1995 - Feb 2026
Croatia (% pa) 3.00 Dec 2022 monthly Dec 1992 - Dec 2022
Cyprus (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Czech Republic (% pa) 2.50 Feb 2026 monthly Jan 1993 - Feb 2026
Denmark (% pa) 1.60 Feb 2026 monthly Aug 1914 - Feb 2026
Ecuador (% pa) 7.54 Feb 2026 monthly Jul 1995 - Feb 2026
Egypt (% pa) 19.50 Feb 2026 monthly Jan 1991 - Feb 2026
Estonia (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
European Union (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Finland (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
France (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Georgia (% pa) 8.00 Feb 2026 monthly Jan 2008 - Feb 2026
Germany (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Ghana (% pa) 25.00 Nov 2025 monthly Nov 2002 - Nov 2025
Greece (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Hong Kong SAR, China (% pa) 4.00 Feb 2026 monthly Jun 1992 - Feb 2026
Hungary (% pa) 6.25 Feb 2026 monthly Oct 1990 - Feb 2026
Iceland (% pa) 8.00 Jan 2026 monthly Jan 1994 - Jan 2026
India (% pa) 5.25 Feb 2026 monthly Apr 2001 - Feb 2026
Indonesia (% pa) 4.75 Feb 2026 monthly Jun 2015 - Feb 2026
Ireland (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Israel (% pa) 4.00 Feb 2026 monthly Dec 1998 - Feb 2026
Italy (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Ivory Coast (% pa) 2.50 Mar 2017 monthly Jan 1964 - Mar 2017
Japan (% pa) 0.50 Nov 2025 monthly Mar 2006 - Nov 2025
Jordan (% pa) 6.75 Jan 2026 monthly Dec 1965 - Jan 2026
Kazakhstan (% pa) 18.00 Feb 2026 monthly Feb 1992 - Feb 2026
Kenya (% pa) 8.75 Feb 2026 monthly Jul 2003 - Feb 2026
South Korea (% pa) 2.50 Feb 2026 monthly May 1999 - Feb 2026
Kosovo (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Kuwait (% pa) 3.50 Feb 2026 monthly Jul 1999 - Feb 2026
Kyrgyzstan (% pa) 11.00 Jan 2026 monthly Jan 1999 - Jan 2026
Laos (% pa) 8.50 Nov 2025 monthly Dec 1992 - Nov 2025
Latvia (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Lebanon (% pa) 20.00 Sep 2025 monthly Apr 1964 - Sep 2025
Lithuania (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Luxembourg (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Macau SAR, China (% pa) 4.00 Feb 2026 monthly Dec 1999 - Feb 2026
North Macedonia (% pa) 4.00 Feb 2026 monthly Jan 2002 - Feb 2026
Malawi (% pa) 26.00 Feb 2026 monthly Jan 1980 - Feb 2026
Malaysia (% pa) 2.75 Feb 2026 monthly Apr 2004 - Feb 2026
Malta (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Mauritius (% pa) 4.50 Feb 2026 monthly Dec 1999 - Feb 2026
Mexico (% pa) 7.00 Feb 2026 monthly Jan 2008 - Feb 2026
Moldova (% pa) 5.00 Feb 2026 monthly Feb 2001 - Feb 2026
Mongolia (% pa) 12.00 Feb 2026 monthly Jul 2007 - Feb 2026
Montenegro (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Morocco (% pa) 2.25 Feb 2026 monthly Jun 1995 - Feb 2026
Myanmar (% pa) 9.00 2025 yearly 1986 - 2025
Nepal (% pa) 5.75 Dec 2025 monthly Jul 2003 - Dec 2025
Netherlands (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
New Zealand (% pa) 2.25 Nov 2025 monthly Mar 1999 - Nov 2025
Nigeria (% pa) 26.50 Feb 2026 monthly Jan 2000 - Feb 2026
Norway (% pa) 4.00 Feb 2026 monthly Jan 1991 - Feb 2026
Oman (% pa) 4.25 Feb 2026 monthly May 2007 - Feb 2026
Pakistan (% pa) 11.50 Jan 2026 monthly Feb 1992 - Jan 2026
Paraguay (% pa) 5.50 Feb 2026 monthly Jul 2010 - Feb 2026
Peru (% pa) 4.25 Feb 2026 monthly Sep 2003 - Feb 2026
Philippines (% pa) 5.25 Nov 2025 monthly Jun 2016 - Nov 2025
Poland (% pa) 4.00 Jan 2026 monthly Jan 2005 - Jan 2026
Portugal (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Qatar (% pa) 4.35 Feb 2026 monthly Mar 2003 - Feb 2026
Romania (% pa) 6.50 Feb 2026 monthly Jan 2003 - Feb 2026
Russia (% pa) 15.50 Feb 2026 monthly Sep 2013 - Feb 2026
Saudi Arabia (% pa) 4.25 Feb 2026 monthly Jan 2000 - Feb 2026
Serbia (% pa) 5.75 Feb 2026 monthly Jan 2001 - Feb 2026
Singapore (% pa) 1.05 Nov 2025 monthly Jul 2005 - Nov 2025
Slovakia (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Slovenia (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
South Africa (% pa) 6.75 Feb 2026 monthly Nov 1999 - Feb 2026
Spain (% pa) 2.15 Feb 2026 monthly Jan 1999 - Feb 2026
Sri Lanka (% pa) 7.25 Feb 2026 monthly Jan 1997 - Feb 2026
Sweden (% pa) 1.75 Feb 2026 monthly Jan 1987 - Feb 2026
Switzerland (% pa) -0.08 Feb 2026 monthly Jun 1999 - Feb 2026
Syria (% pa) 5.00 Jan 2026 monthly Jan 1962 - Jan 2026
Taiwan, China (% pa) 2.00 Nov 2025 monthly Jul 1961 - Nov 2025
Tajikistan (% pa) 7.50 Dec 2025 monthly Jun 1995 - Dec 2025
Thailand (% pa) 1.00 Feb 2026 monthly May 2000 - Feb 2026
Tunisia (% pa) 7.00 Feb 2026 monthly Jan 2000 - Feb 2026
Turkey (% pa) 37.00 Feb 2026 monthly Jun 1996 - Feb 2026
Ukraine (% pa) 15.00 Feb 2026 monthly Dec 1992 - Feb 2026
United Arab Emirates (% pa) 3.65 Feb 2026 monthly Nov 2007 - Feb 2026

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Germany Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -2.7 Dec 2025 quarterly Dec 1991 - Dec 2025
Consolidated Fiscal Balance (USD mn) -59,276.118 Dec 2025 quarterly Mar 1991 - Dec 2025
Tax Revenue (USD mn) 314,507.152 Dec 2025 quarterly Mar 1991 - Dec 2025
Tax Revenue: % of GDP (%) 23.4 Dec 2025 quarterly Mar 1991 - Dec 2025
National Government Debt (USD mn) 3,271,285.0 Sep 2025 quarterly Mar 2000 - Sep 2025
Government Debt: % of GDP (%) 63.0 Sep 2025 quarterly Mar 2000 - Sep 2025
Forecast: Government Expenditure (EUR bn) 2,707.148 2030 yearly 1991 - 2030
Forecast: Government Net Debt (EUR bn) 3,815.153 2030 yearly 1991 - 2030
Forecast: Government Revenue (EUR bn) 2,497.167 2030 yearly 1991 - 2030
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 2.600 2030 yearly 1980 - 2030
Trade Balance (USD mn) 20,106.1 Dec 2025 monthly Jan 1957 - Dec 2025
Total Exports (USD mn) 156,176.3 Dec 2025 monthly Jan 1957 - Dec 2025
Total Exports Growth (%) 2.8 Dec 2025 monthly Jan 1951 - Dec 2025
Aluminum: Exports (USD th) 11,279,159.417 2024 yearly 1995 - 2024
Exports: Medicament (USD th) 70,970,902.063 2024 yearly 1995 - 2024
Exports: Medicinal and Pharmaceutical Product (USD th) 54,214,028.985 2024 yearly 1995 - 2024
Total Imports (USD mn) 136,070.2 Dec 2025 monthly Jan 1957 - Dec 2025
Total Imports Growth (%) 5.6 Dec 2025 monthly Jan 1951 - Dec 2025
Imports: Medicament (USD th) 36,738,204.645 2024 yearly 1995 - 2024
Imports: Medicinal and Pharmaceutical Product (USD th) 41,845,878.903 2024 yearly 1995 - 2024
Total Exports to USA (USD mn) 12,144.339 Dec 2025 monthly Sep 1977 - Dec 2025
Total Imports from USA (USD mn) 9,286.030 Dec 2025 monthly Jul 1990 - Dec 2025
Total Exports to China (USD mn) 7,884.906 Dec 2025 monthly Jan 2000 - Dec 2025
Total Imports from China (USD mn) 16,816.537 Dec 2025 monthly Jan 2000 - Dec 2025
Motor Vehicle Exports: Car (Unit) 225,300.000 Jan 2026 monthly Jul 2000 - Jan 2026
Imports: SITC: Electrical Machinery, TV Image and Sound Reproducing (EUR th) 15,363,498.000 Dec 2025 monthly Jan 2008 - Dec 2025
Imports: SITC: Vehicles, Motorcycles & Bicycles (EUR th) 10,099,717.000 Dec 2025 monthly Jan 2008 - Dec 2025
Exports: SITC: Machinery and Mechanical Appliances (EUR th) 20,254,846.000 Dec 2025 monthly Jan 2008 - Dec 2025
Exports: SITC: Electrical Machinery, TV Image and Sound Reproducing (EUR th) 13,819,452.000 Dec 2025 monthly Jan 2008 - Dec 2025
Imports: SITC: Mineral Fuels & Oils, Bituminous Substances (EUR th) 8,097,166.000 Dec 2025 monthly Jan 2008 - Dec 2025
Exports: SITC: Vehicles, Motorcycles & Bicycles (EUR th) 16,753,710.000 Dec 2025 monthly Jan 2008 - Dec 2025
Exports: SITC: Pharmaceutical Products (EUR th) 8,193,489.000 Dec 2025 monthly Jan 2008 - Dec 2025
Exports: SITC: Plastics & Articles Thereof (EUR th) 4,305,866.000 Dec 2025 monthly Jan 2008 - Dec 2025
Imports: SITC: Pharmaceutical Products (EUR th) 4,952,090.000 Dec 2025 monthly Jan 2008 - Dec 2025
Imports: SITC: Machinery and Mechanical Appliances (EUR th) 13,494,304.000 Dec 2025 monthly Jan 2008 - Dec 2025
Exports: SITC: Iron & Steel (EUR th) 1,650,276.000 Dec 2025 monthly Jan 2008 - Dec 2025
Imports: SITC: Iron & Steel (EUR th) 1,543,474.000 Dec 2025 monthly Jan 2008 - Dec 2025
Exports: China (EUR th) 6,733,481.000 Dec 2025 monthly Jan 2000 - Dec 2025
Exports fob (EUR mn) 118,636.707 Dec 2025 monthly Jan 1950 - Dec 2025
Imports cif (EUR mn) 104,951.963 Dec 2025 monthly Jan 1950 - Dec 2025
Exports fob: YoY (%) 6.100 Dec 2025 monthly Jan 2001 - Dec 2025
Imports cif: YoY (%) 8.400 Dec 2025 monthly Jan 2001 - Dec 2025
Trade Balance: swda (EUR bn) 17.170 Dec 2025 monthly Jan 1950 - Dec 2025
Exports fob: swda (EUR bn) 133.370 Dec 2025 monthly Jan 1950 - Dec 2025
Imports cif: swda (EUR bn) 116.200 Dec 2025 monthly Jan 1950 - Dec 2025
Exports Value: HS: Photosensitive Semiconductor Devices, Photovoltaic Cells asse... (EUR th) 21,668.000 Dec 2025 monthly Jan 2021 - Dec 2025
Imports Value: HS: Photosensitive Semiconductor Devices, Light Emitting Diodes (... (EUR th) 58,699.000 Dec 2025 monthly Jan 2021 - Dec 2025
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 3,702.5 Dec 2025 monthly Jan 1971 - Dec 2025
Current Account Balance (USD mn) 12,178.4 Dec 2025 monthly Jan 1991 - Dec 2025
Current Account Balance: % of GDP (%) 3.1 Dec 2025 quarterly Mar 1991 - Dec 2025
Foreign Direct Investment (USD mn) -22,553.7 Dec 2025 monthly Jan 1971 - Dec 2025
Foreign Direct Investment: % of GDP (%) -0.4 Dec 2025 quarterly Mar 1991 - Dec 2025
Foreign Portfolio Investment (USD mn) 50,888.238 Dec 2025 quarterly Mar 1971 - Dec 2025
Foreign Portfolio Investment: % of GDP (%) 3.8 Dec 2025 quarterly Mar 1971 - Dec 2025
Foreign Portfolio Investment: Equity Securities (USD mn) -5,082.3 Sep 2025 quarterly Mar 1971 - Sep 2025
Foreign Portfolio Investment: Debt Securities (USD mn) 67,115.610 Dec 2025 quarterly Mar 1971 - Dec 2025
External Debt (USD mn) 7,965,114.8 Sep 2025 quarterly Jun 1999 - Sep 2025
External Debt: % of GDP (%) 147.6 2024 yearly 1999 - 2024
External Debt: Short Term (USD mn) 2,905,517.9 Sep 2025 quarterly Mar 2004 - Sep 2025
External Debt: Short Term: % of GDP (%) 52.5 2024 yearly 2004 - 2024
Total Debt: % of GDP (%) 594.0 Sep 2025 quarterly Mar 1999 - Sep 2025
Forecast: Current Account Balance (USD bn) 253.996 2030 yearly 1980 - 2030
Net International Investment Position (USD mn) 4,118,779.652 Sep 2025 quarterly Dec 1957 - Sep 2025
Insolvency (IN): No of Proceedings (NP) (Unit) 9,700.000 Nov 2025 monthly Jan 2003 - Nov 2025
DE: BOP: Net Errors and Omissions (USD mn) 38,264.366 2024 yearly 1971 - 2024
DE: BOP: Financial Account: Portfolio Investment: Net (USD mn) 34,336.677 2024 yearly 1971 - 2024
DE: BOP: Current Account: Personal Remittances: Paid (USD mn) 23,662.388 2024 yearly 1971 - 2024
DE: BOP: Current Account: Personal Remittances: Received (USD mn) 21,225.006 2024 yearly 1971 - 2024
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 1.5 2023 yearly 2005 - 2023
Household Debt: % of GDP (%) 48.9 Sep 2025 quarterly Dec 1991 - Sep 2025
Money Supply M1 (USD mn) 3,461,625.094 Jan 2026 monthly Jan 1957 - Jan 2026
Money Supply M2 (USD mn) 4,801,896.542 Jan 2026 monthly Jan 1969 - Jan 2026
M2 Growth (%) 4.0 Jan 2026 monthly Jan 1970 - Jan 2026
Reserve Requirement Ratio (%) 1.0 Dec 2025 monthly Jan 1999 - Dec 2025
Foreign Exchange Reserves (USD mn) 37,291.6 Jan 2026 monthly Jan 1957 - Jan 2026
Foreign Exchange Reserves: % of GDP (%) 0.713 Dec 2025 quarterly Dec 1991 - Dec 2025
Foreign Exchange Reserves: Months of Import (NA) 0.3 Dec 2025 monthly Jan 1957 - Dec 2025
Gold Reserves (USD mn) 562,123.097 Feb 2026 monthly Dec 1998 - Feb 2026
Total Deposits (USD mn) 7,461,547.984 Jan 2026 monthly Sep 1997 - Jan 2026
Total Deposits Growth (%) 3.9 Jan 2026 monthly Sep 1998 - Jan 2026
Domestic Credit (USD mn) 0.0 May 2025 monthly Jan 1999 - May 2025
Domestic Credit Growth (%) -100.0 May 2025 monthly Jan 2000 - May 2025
Debt Service Ratio: Households (%) 5.400 Jun 2025 quarterly Mar 1999 - Jun 2025
Debt Service Ratio: Private Non-Financial Sector (%) 12.400 Jun 2025 quarterly Mar 1999 - Jun 2025
Credit to Households (USD bn) 2,536.840 Jun 2025 quarterly Dec 1970 - Jun 2025
Credit to Private Non-Financial Sector (USD bn) 7,157.690 Jun 2025 quarterly Mar 1955 - Jun 2025
Household Debt (USD mn) 2,543,326.6 Sep 2025 quarterly Mar 1991 - Sep 2025
Total Loans (USD mn) 9,091,618.517 Jan 2026 monthly Jan 1957 - Jan 2026
Total Loans Growth (%) 3.05 Jan 2026 monthly Dec 1949 - Jan 2026
Private Debt: % of Nominal GDP (%) 72.67 Dec 2025 quarterly Dec 1991 - Dec 2025
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 10.4 Feb 2026 monthly Jan 1992 - Feb 2026
Business Climate: Balance: sa: Manufacturing Industry (NA) -11.329 Feb 2026 monthly Jan 1991 - Feb 2026
Business Assessment: Balance: Manufacturing Industry (NA) -14.200 Feb 2026 monthly Jan 1991 - Feb 2026
Economic Expectation Indicator: Germany (%) 58.300 Feb 2026 monthly Dec 1991 - Feb 2026
Current Economic Situation Indicator: Germany: Balance (%) -65.900 Feb 2026 monthly Dec 1991 - Feb 2026
Leading Economic Index (2016=100) 89.200 Dec 2025 monthly Jan 1965 - Dec 2025

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