The benchmark interest rate in Spain is set by the European Central Bank. The European Central Bank expanded its Pandemic Emergency Purchase Programme (PEPP) by another €500 billion and extended it to at least the end of March 2022 at its December monetary policy meeting, aiming to support the Eurozone's struggling economy amid the coronavirus crisis. Moreover, policymakers approved more long-term loans on cheap terms for another year until June 2022, and announced four additional pandemic emergency longer-term refinancing operations to be offered in 2021. The main refinancing rate was held at 0 percent while the deposit rate remained at a record low -0.5 percent. Looking ahead, the outlook for economic activity has been revised down in the short term, as well as inflation projections for 2020 and 2022. source: European Central Bank

Interest Rate in the Euro Area averaged 1.81 percent from 1998 until 2020, reaching an all time high of 4.75 percent in October of 2000 and a record low of 0 percent in March of 2016. This page provides the latest reported value for - Spain Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.

Interest Rate in Euro Area is expected to be 0.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Euro Area to stand at 0.00 in 12 months time. In the long-term, the Euro Area Interest Rate is projected to trend around 0.00 percent in 2021, according to our econometric models.

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Spain Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.00 4.75 0.00 1998 - 2020 percent Daily

Spain Money Last Previous Highest Lowest Unit
Interest Rate 0.00 0.00 4.75 0.00 percent [+]
Interbank Rate -0.38 -0.38 15.75 -0.40 percent [+]
Money Supply M1 1192764.00 1195683.00 1195683.00 88382.00 EUR Million [+]
Money Supply M2 1343936.00 1344202.00 1344202.00 294870.00 EUR Million [+]
Money Supply M3 1381314.00 1382764.00 1384696.00 413023.00 EUR Million [+]
Banks Balance Sheet 2920.60 2926.20 3733.00 439.60 EUR Billion [+]
Foreign Exchange Reserves 66523.41 68435.01 71310.70 323.95 EUR Million [+]
Loans to Private Sector 471374.00 471910.00 952604.00 105781.00 EUR Million [+]
Loan Growth 4.70 4.10 19.70 -2.10 percent [+]
Private Debt to GDP 194.10 199.10 274.80 131.40 percent [+]
Central Bank Balance Sheet 972913.00 961504.00 972913.00 13829.00 EUR Million [+]

Spain Interest Rate
Spain is a member of the European Union which has adopted the euro. Spain's benchmark interest rate is set by the European Central Bank. The official designation for the rate is main refinancing operation.