France policy interest rate
France has no national policy rate. Monetary policy for France is set by the ECB Governing Council for the whole euro area; the deposit facility rate (DFR) is the ECB's primary steering rate since the March 2024 operational framework review.
| Current value | 2.25 percent |
|---|---|
| In force from | 2026-06-17 |
| Official source | European Central Bank, Monetary policy decisions, press release of 11 June 2026 (rates on the deposit facility, main refinancing operations and marginal lending facility raised by 25 bp to 2.25%, 2.40% and 2.65% with effect from 17 June 2026); cross-checked against the ECB 'Key ECB interest rates' statistical table, which shows 17 Jun. 2026 = 2.25% as the latest row |
| Last verified | 2026-07-20 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
EURO-AREA RATE, NOT A FRENCH RATE. The Banque de France is a national central bank within the Eurosystem and has had no independent policy-rate power since 1 January 1999; it implements ECB decisions. This value is IDENTICAL to the German (DE) file and to every other euro-area file by construction — do not treat divergence between euro-area country files as a data update. Corridor at 20 July 2026: deposit facility 2.25%, main refinancing operations (MRO) 2.40%, marginal lending facility 2.65%, all effective 17 June 2026. The 11 June 2026 decision was a 25 bp HIKE from 2.00% — the first ECB increase since September 2023, reversing part of the eight consecutive cuts delivered between June 2024 and June 2025, and motivated by energy-driven inflation pressure from the Middle East conflict (euro-area flash HICP 3.2% y/y in May 2026, highest since September 2023). Under the current framework the MRO rate is fixed at DFR + 15 bp and the marginal lending rate at DFR + 40 bp. Rate changes take effect from the start of the following reserve maintenance period, which is why the announcement date (11 June) and the effective date (17 June) differ — this file uses the EFFECTIVE date. No Governing Council monetary policy meeting had taken place between 11 June 2026 and the last_confirmed date; the next scheduled decision falls in late July 2026, so this value should be re-checked immediately after it. ACCESS: the ECB key-rates HTML table renders server-side and fetches cleanly; the monetary-policy-statement index page is a JS/link shell that returns navigation only, so cite the dated press release under /press/pr/date/ instead.
Earlier values
Get it programmatically
curl https://euroref.dev/v1/fr/policy-rate
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://euroref.dev/v1/fr/policy-rate/history?from=2020-01-01
# Provenance: curl https://euroref.dev/provenance/fr/policy-rateOther France series: VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates · ECB main refinancing rate · late-payment interest rate