Portugal Policy Rate (ECB Deposit Facility Rate)
Portugal Policy Rate (ECB Deposit Facility 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.
The euro-area policy rate applicable to Portugal: the ECB deposit facility rate, the Governing Council's primary policy signal since the March 2024 operational framework review.
Compare policy interest rate across all 34 European countries →
| Current value | 2.25 percent |
|---|---|
| In force from | 2026-06-17 |
| Official source | European Central Bank, Monetary policy decisions of the Governing Council, 11 June 2026 (press release ecb.mp260611); Key ECB interest rates statistical table |
| Last verified | 2026-09-11 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
STRUCTURAL NOTE: Portugal has NO national policy rate. The Banco de Portugal has had no independent monetary-policy competence since 1 January 1999; monetary policy for the euro area is set by the ECB Governing Council under Art. 127-133 TFEU and the ESCB/ECB Statute. The value served is the euro-area-wide ECB deposit facility rate (DFR), which applies identically in all 20 euro-area members, not a Portuguese-specific rate. On 11 June 2026 the Governing Council raised all three key rates by 25 basis points with effect from 17 June 2026: deposit facility 2.25%, main refinancing operations (MRO) 2.40%, marginal lending facility 2.65%. This was the first ECB increase since September 2023, reversing part of the eight cuts delivered between June 2024 and June 2025; the ECB cited energy-driven inflation pressure from the Middle East conflict. The DFR is served here because since the 18 March 2024 framework change the ECB steers short-term money-market rates through the DFR and narrowed the MRO-DFR spread to 15bp; the MRO rate (2.40%) remains the headline 'refinancing' rate cited by some sources. The Governor of the Banco de Portugal sits on the Governing Council in a personal capacity, not as a national delegate, and there is no Portuguese national rate to set. No Governing Council monetary-policy meeting fell between 17 June 2026 and the last_confirmed date, so 2.25% is still in force. This block is kept reconciled across the euro-area bloc (DE, ES, FR, AT, BE, IE, IT, NL, PT). Access: ecb.europa.eu serves the full key-rates table as static HTML and loaded cleanly. 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/pt/policy-rate
# $0.005 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://euroref.dev/v1/pt/policy-rate/history?from=2020-01-01
# Provenance: curl https://euroref.dev/provenance/pt/policy-rateOther Portugal series: Value Added Tax (Imposto sobre o Valor Acrescentado - IVA) · VAT registration threshold · minimum wage · Public Holidays (Feriados obrigatorios) · inflation rate (CPI) · corporate tax rate · Withholding tax rates · income tax rates · Statutory social-insurance contributions · ECB main refinancing operations rate (fixed rate) · Late-payment interest (EU Late Payment Directive) · Statutory legal interest (juros legais)
The same figure elsewhere: Romania · Serbia · Slovakia · Slovenia · Spain · all 34