Spain Policy interest rate
Spain Policy interest rate is 2.25 percent, in force since 17 Jun 2026. It was 2 percent before that. Last checked against the official source on 11 Sep 2026.
ECB deposit facility rate — the euro area's operative policy rate, applicable to Spain as a Eurosystem member. Spain has no independent national policy rate; Banco de España implements ECB decisions.
Compare policy interest rate across all 34 European countries →
| Current value | 2.25 percent |
|---|---|
| In force from | 2026-06-17 |
| Official source | ECB Governing Council monetary policy decisions of 11 June 2026 (rates raised by 25bp with effect from 17 June 2026); rate history table 'Key ECB interest rates' |
| Last verified | 2026-09-11 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
Served value is the DEPOSIT FACILITY RATE (2.25%), which has been the euro area's effective operative policy rate throughout the excess-liquidity/floor-system era; the ECB's operational framework review announced 13 March 2024 narrowed the MRO-DFR spread to 15bp with effect from 18 September 2024, formalising the DFR's steering role. On the same 17 June 2026 effective date the main refinancing operations (MRO) rate is 2.40% and the marginal lending facility 2.65%. The 11 June 2026 decision was the ECB's FIRST INCREASE since September 2023, reversing part of the eight consecutive cuts delivered June 2024 - June 2025; the ECB cited Middle East conflict-driven inflation pressure, with June 2026 Eurosystem staff projections of 3.0% headline HICP for 2026 (2.3% for 2027, 2.0% for 2028). This series must be reconciled identically across Germany, France, Italy, Netherlands, Ireland, Portugal, Greece and every other euro-area file — a divergence between them is a data error, not a national difference; verified identical to the German and French files (2.25%, effective 2026-06-17). Spain-specific caveat: Banco de España publishes the same rates in Spanish at bde.es but is a transmission channel, not a rate-setter. Access: ecb.europa.eu serves clean static HTML, no JS shell, no geo-block. ECB UPDATE (verified 2026-08-22): the Governing Council HELD on 23-24 July 2026 - deposit facility 2.25%, MRO 2.40%, marginal lending 2.65%, all unchanged and in effect since 17 June 2026 ('decided to keep the three key ECB interest rates unchanged'). Next monetary-policy meeting: 9-10 September 2026 (Berlin; decision 14:15 CET on the 10th), then 28-29 Oct and 16-17 Dec. A change takes effect from the start of the following reserve maintenance period - this series uses the EFFECTIVE date.
Earlier values
| From | Value | Source |
|---|---|---|
| 2025-06-11 | 2 | European Central Bank - key ECB interest rates, DEPOSIT… |
| 2025-04-23 | 2.25 | European Central Bank - key ECB interest rates, DEPOSIT… |
| 2025-03-12 | 2.5 | European Central Bank - key ECB interest rates, DEPOSIT… |
| 2025-02-05 | 2.75 | European Central Bank - key ECB interest rates, DEPOSIT… |
| 2024-12-18 | 3 | European Central Bank - key ECB interest rates, DEPOSIT… |
| 2024-10-23 | 3.25 | European Central Bank - key ECB interest rates, DEPOSIT… |
| 2024-09-18 | 3.5 | European Central Bank - key ECB interest rates, DEPOSIT… |
| 2024-06-12 | 3.75 | European Central Bank - key ECB interest rates, DEPOSIT… |
| 2023-09-20 | 4 | European Central Bank - key ECB interest rates, DEPOSIT… |
| 2023-08-02 | 3.75 | European Central Bank - key ECB interest rates, DEPOSIT… |
| 2023-06-21 | 3.5 | European Central Bank - key ECB interest rates, DEPOSIT… |
| 2023-05-10 | 3.25 | European Central Bank - key ECB interest rates, DEPOSIT… |
Get it programmatically
curl https://euroref.dev/v1/es/policy-rate
# $0.005 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://euroref.dev/v1/es/policy-rate/history?from=2020-01-01
# Provenance: curl https://euroref.dev/provenance/es/policy-rateOther Spain series: Value added tax (IVA) · VAT registration threshold · Minimum wage (Salario Mínimo Interprofesional, SMI) · Public holidays · Consumer price index (IPC) · Corporate income tax (Impuesto sobre Sociedades) · Withholding tax rates · Personal income tax (IRPF) · Statutory social-insurance contributions · ECB main refinancing operations rate (fixed rate) · Late-payment interest (EU Late Payment Directive) · Statutory legal interest (interés legal del dinero)
The same figure elsewhere: Sweden · Switzerland · Türkiye · Ukraine · United Kingdom · all 34