ECB & Fed Rate Decisions 2026/2027
Every interest-rate decision of the European Central Bank and the US Federal Reserve (FOMC) — with times in German time (CET/CEST), the current policy rate and the results of recent meetings.
ECB: decision 14:15, press conference 14:45. Fed: statement 2:00 p.m. Washington time — usually 20:00 German time, 19:00 in the few weeks around the clock change. All times on this page in German time (CET/CEST).
🇪🇺 ECB rate decisions
ECB meeting dates 2026
ECB meeting dates 2027
ECB meeting dates 2028
🇺🇸 Fed rate decisions (FOMC)
FOMC meeting dates 2026
FOMC meeting dates 2027
ECB rate path
Since February 5, 2026, the ECB has decided on interest rates at 6 meetings and raised them 2 times and left them unchanged 4 times. The deposit rate thus rose from 2.00% to 2.50% — an increase of 50 basis points.
Most recently, on September 10, 2026, the Governing Council decided on a a hike of 25 basis points to 2.50%.
| Date | Decision | Before | After |
|---|---|---|---|
| Hike (+25 bp) | 2.25% | 2.50% | |
| unchanged | 2.25% | 2.25% | |
| Hike (+25 bp) | 2.00% | 2.25% | |
| unchanged | 2.00% | 2.00% | |
| unchanged | 2.00% | 2.00% | |
| unchanged | 2.00% | 2.00% |
Fed rate path
Since January 28, 2026, the Fed has decided on interest rates at 6 meetings and raised them once and left them unchanged 5 times. The federal funds target range thus rose from 3.50–3.75% to 3.75–4.00% — an increase of 25 basis points.
Most recently, on September 16, 2026, the Federal Open Market Committee (FOMC) decided on a a hike of 25 basis points to 3.75–4.00%.
| Date | Decision | Before | After |
|---|---|---|---|
| Hike (+25 bp) | 3.50–3.75% | 3.75–4.00% | |
| unchanged | 3.50–3.75% | 3.50–3.75% | |
| unchanged | 3.50–3.75% | 3.50–3.75% | |
| unchanged | 3.50–3.75% | 3.50–3.75% | |
| unchanged | 3.50–3.75% | 3.50–3.75% | |
| unchanged | 3.50–3.75% | 3.50–3.75% |
Interest-rate gap between the US and the euro area
Policy rates are currently higher in the US: the Fed's target range is 3.75–4.00%, the ECB's deposit rate 2.50%. Measured against the lower bound of the Fed range, the gap is 1.25 percentage points.
The two rates are not identical — the ECB steers through its deposit rate, the Fed through a target range for the overnight rate between banks — but they are a fair comparison of the policy stance. The rate gap is one of the factors that move the euro–dollar exchange rate. For companies with large foreign business this shows up in quarterly results as a currency effect, which is why many of them also report currency-adjusted growth.
What does a rate decision mean for stocks?
What matters is the surprise
For the stock market the decision itself matters less than how far it deviates from expectations. The likely outcome is usually priced into futures markets days in advance. A meeting moves prices sharply mainly when the decision differs from what was expected — or when the statement and the press conference suggest that the next step may look different than assumed. At four meetings a year both central banks also publish new economic projections, which offer further hints about the path ahead.
Interest rates and stock valuation
Interest rates feed directly into stock valuations: future profits are discounted to today at an interest rate. When rates rise, profits expected far in the future are worth less today — so fast-growing companies, whose profits lie largely ahead of them, often react more sensitively than established companies with high current earnings. At the same time, bonds and savings accounts become more attractive alternatives to stocks. Falling rates work the other way round.
Where rates show up in quarterly results
Monetary policy reaches quarterly results with a delay. Higher rates make new loans and refinancing more expensive, which companies with high net debt feel most in their interest expense. Banks, by contrast, tend to benefit from a wider interest margin, while real-estate companies and utilities, with their large capital needs, are considered particularly rate-sensitive. Demand reacts too: where purchases are financed on credit — homes, cars or machinery — high rates slow business down.
Rate decisions during earnings season
Some of the upcoming rate decisions fall into the usual earnings season, the weeks in which most companies publish their quarterly results. Company results and central-bank signals then hit the market in the same days:
- Q3 2026 earnings season: Fed rate decision on October 28, 2026, ECB rate decision on October 29, 2026
- Q4 2026 earnings season: Fed rate decision on January 27, 2027, ECB rate decision on February 4, 2027
The relationships described are typical mechanisms — not a forecast and not investment advice.
Frequently asked questions
When is the next ECB rate decision?
The next ECB rate decision is on Thursday, October 29, 2026. The Governing Council publishes its decision at 14:15, the press conference starts at 14:45 (German time).
What time does the ECB announce its rate decision?
The ECB publishes its monetary-policy decisions on the second meeting day at 14:15 Frankfurt time in a press release. The press conference explaining the decision follows at 14:45.
What is the ECB interest rate right now?
The deposit facility rate, through which the ECB steers monetary policy, stands at 2.50% (as of the decision on September 10, 2026). The last change was decided on September 10, 2026: a hike of 25 basis points to 2.50%.
When is the next Fed rate decision?
The Federal Reserve's next rate decision is on Wednesday, October 28, 2026. The FOMC statement is released at 19:00 German time, the press conference starts at 19:30.
What time is the Fed rate decision in European time?
The FOMC releases its statement at 2:00 p.m. Washington time, which is usually 20:00 in Germany. Because the US and Europe change their clocks on different Sundays, the announcement comes at 19:00 German time in a few weeks in March and late October. Among the upcoming meetings this applies to: October 28, 2026 (19:00), March 17, 2027 (19:00).
What is the Fed interest rate right now?
The target range for the federal funds rate is 3.75–4.00% (as of the decision on September 16, 2026). The last change was decided on September 16, 2026: a hike of 25 basis points to 3.75–4.00%.
What does a rate decision mean for stocks?
Interest rates affect stocks in two ways: they set the rate at which future profits are discounted, and they change companies' financing costs and demand. Higher rates therefore tend to weigh on valuations — especially for fast-growing companies — while falling rates support them. Because the likely decision is usually priced in beforehand, it is mainly surprises and the outlook for the next steps that move prices.
Sources (official calendars): ECB · Federal Reserve