Overview
- The ECB raised its three main rates by 25 basis points on Thursday, June 11, 2026, taking the deposit rate to 2.25%, the main refinancing rate to 2.40% and the marginal lending rate to 2.65%.
- Alongside the hike the bank cut its growth forecasts and raised inflation projections for 2026–2027, citing higher energy prices that are feeding through to food, goods and services.
- Short-term money markets had begun pricing higher rates in March after the Iran conflict and the 3-month Euribor has already climbed, pushing some variable borrowing costs up before the ECB decision.
- A Facile.it example shows a typical variable mortgage payment rising by about €16 immediately and potentially reaching about €626 by year-end, which would mean roughly a €50 increase for 2026 versus January.
- The impact will vary by borrower because rises depend on remaining principal and loan length, and higher household payments could cut consumer spending and weigh on growth if rates continue to climb.