The interest rate for using the deposit facility, the main refinancing operations interest rate, and the interest rate for using the marginal lending facility will be increased to 2.50%, 2.65%, and 2.90% respectively from September 16, the ECB announced.
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For residents, this means that loans may become more expensive. ECB interest rates are not directly linked to interbank interest rates “Euribor,” which together with the bank margin make up the mortgage interest rate. However, “Euribor” usually reacts to ECB decisions. On Thursday, September 9, the 6-month “Euribor” was 2.8%, and the 12-month already exceeded 3%.
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