ECB meeting calendar

Euribor (Euro Interbank Offered Rate) is the reference rate behind most variable-rate mortgages in Spain, Italy, Portugal, Finland, the Netherlands and Austria. The five maturities below are the fixings of 4 September 2026: the 12-month rate is the one most household loans follow, the 3-month rate is common in Italy and Austria, and the 1-week and 1-month rates track ECB policy most closely.

All values are published one business day after the fixing, sourced from the Bank of Finland, and cross-checked monthly against the ECB Data Portal. Use the maturity pages for history, the monthly pages for revision averages, and the calculator to translate a change into euros per month.

Euribor is the rate at which euro-area banks lend to each other for a fixed term, published every TARGET2 business day by the European Money Markets Institute. This site republishes the Bank of Finland's copy of the fixings with a 24-hour delay, which is why the newest date is usually yesterday's.

Every number on this page is a published fixing, not an estimate: daily values come from the Bank of Finland's copy of the Euribor series, monthly averages are the arithmetic mean of those fixings and are cross-checked against the ECB Data Portal, and the tables are rebuilt each business day after the previous day's fixing appears. Tenors use the ACT/360 convention. Where a monthly average differs from the ECB figure by more than a hundredth of a point the methodology page lists the case.

Eight meetings a year

The Governing Council of the European Central Bank holds eight monetary-policy meetings each year, at roughly six-week intervals. At each meeting it sets the ECB's key interest rates, and the decision is announced at 14:15 CET on the meeting day, followed by a press conference. The table on this page lists the dates. There are other Governing Council meetings in between that do not take monetary-policy decisions; only the eight listed here are the ones that move Euribor.

The deposit facility rate as the anchor

Of the ECB's rates, the one that matters for Euribor is the deposit facility rate: the interest a bank earns on money it leaves at the ECB overnight. Because any bank can earn that rate risk-free, no bank will lend to another bank for a week or a month at much less, and few will pay much more to borrow. The 1-week and 1-month Euribor fixings therefore sit close to the deposit facility rate and step up or down with it within days of a decision. On 4 September 2026 the 1-week fixing was 2.154 % and the 1-month fixing 2.364 %.

How the longer maturities respond

The 3-month, 6-month and 12-month fixings are less directly tied to a single decision, because a loan of that length spans one or more future meetings. Their price is built from what the market expects those meetings to bring. This has a consequence that surprises many borrowers: the 12-month Euribor typically moves before a decision rather than after it. In the weeks leading up to a meeting at which a change is widely expected, the fixing drifts towards the level consistent with the new rate; by the time the decision is announced at 14:15, most of the adjustment has already happened, and the fixing on the following day may barely move. A decision that differs from what was expected, on the other hand, produces a visible jump.

On 4 September 2026 the 3-month, 6-month and 12-month fixings were 2.679 %, 2.794 % and 3.108 %. Their distance from the 1-week fixing is the market's reading of the meetings ahead, plus a term premium, and the forecast page turns that distance into implied forward rates.

What the calendar means for a mortgage

Your instalment does not change on a meeting day. It changes on the revision date in your contract, using the reference the contract specifies. The calendar is useful for a different reason: it tells you which meetings fall between now and your next revision, and therefore how many decisions the reference at that revision will have absorbed. A borrower on a monthly reset sees each decision within a month or two; a borrower on an annual revision sees the cumulative effect of a year of meetings in one step.

Reading the table

Each row gives the meeting date, the deposit facility rate that applied after the meeting where it has already taken place, and a short note where one is recorded. Past rows let you line up policy changes against the daily fixings on the maturity pages; future rows are the dates to watch. The dates are taken from the ECB's published calendar, and the table carries no commentary about what any meeting will decide.