Germany Policy Rate

1999 - 2025 | Monthly | % pa | European Central Bank

Key information about Germany Policy Rate

  • Germany cash rate (Policy Rate: Month End: Main Refinancing Operations) was set at 2.15 % pa in Dec 2025, compared with 2.15 % pa in the previous Nov 2025.
  • Germany Policy Rate averaged 1.00 % pa and is updated monthly, available from Jan 1999 to Dec 2025.
  • The data reached an all-time high of 4.75 % pa in Apr 2001 and a record low of 0.00 % pa in Jun 2022.




Related information about Germany Policy Rate

  • In the latest reports, Germany Short Term Interest Rate: Month End: EURIBOR: 3 Months was reported at -0.57 % pa in Nov 2021.
  • Its Long Term Interest Rate (Long Term Interest Rate: Month Avg: Germany: ECB Harmonised ) was reported at 2.66 % pa in Nov 2025.
  • Germany Exchange Rate against USD averaged 0.86 (USD/EUR) in Oct 2025.
  • Its Real Effective Exchange Rate was 96.80 in Nov 2025.

View Germany's Policy Rate from Jan 1999 to Dec 2025 in the chart:

Germany Policy Rate

What was Germany's Policy Rate in Dec 2025?

Germany cash rate (Policy Rate: Month End: Main Refinancing Operations) was set at 2.15 % pa in Dec 2025, compared with 2.15 % pa in the previous Nov 2025. See the table below for more data.

Last Previous Min Max Unit Frequency Range
2.15 Dec 2025 2.15 Nov 2025 0.00 Jun 2022 4.75 Apr 2001 % pa monthly Jan 1999 - Dec 2025

Policy Rate by Country Comparison

country/region Last Frequency Range
Albania (% pa) 2.50 Nov 2025 monthly Jan 2000 - Nov 2025
Algeria (% pa) 2.75 Dec 2025 monthly Jan 1963 - Dec 2025
Argentina (%) 25.46 Dec 2025 monthly Jan 1985 - Dec 2025
Armenia (% pa) 6.50 Dec 2025 monthly May 2001 - Dec 2025
Australia (% pa) 3.60 Dec 2025 monthly Aug 1990 - Dec 2025
Austria (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Azerbaijan (% pa) 6.75 Dec 2025 monthly Jan 2005 - Dec 2025
Bahrain (% pa) 4.50 Dec 2025 monthly Jan 2007 - Dec 2025
Bangladesh (% pa) 10.00 Oct 2025 monthly Sep 2009 - Oct 2025
Belarus (% pa) 9.75 Dec 2025 monthly Jul 1991 - Dec 2025
Belgium (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Bolivia (% pa) 3.26 Dec 2025 monthly Jan 2013 - Dec 2025
Botswana (% pa) 3.75 Apr 2022 monthly Aug 1976 - Apr 2022
Brazil (% pa) 15.00 Nov 2025 monthly Mar 1999 - Nov 2025
Bulgaria (% pa) 1.81 Dec 2025 monthly Feb 1991 - Dec 2025
Canada (% pa) 2.25 Dec 2025 monthly Dec 1992 - Dec 2025
Chile (% pa) 4.50 Dec 2025 monthly May 1995 - Dec 2025
China (% pa) 1.40 Nov 2025 monthly May 2012 - Nov 2025
Colombia (% pa) 9.25 Dec 2025 monthly Apr 1995 - Dec 2025
Croatia (% pa) 3.00 Dec 2022 monthly Dec 1992 - Dec 2022
Cyprus (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Czech Republic (% pa) 2.50 Dec 2025 monthly Jan 1993 - Dec 2025
Denmark (% pa) 1.60 Dec 2025 monthly Aug 1914 - Dec 2025
Ecuador (% pa) 7.74 Jan 2026 monthly Jul 1995 - Jan 2026
Egypt (% pa) 20.50 Dec 2025 monthly Jan 1991 - Dec 2025
Estonia (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
European Union (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Finland (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
France (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Georgia (% pa) 8.00 Dec 2025 monthly Jan 2008 - Dec 2025
Germany (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Ghana (% pa) 25.00 Nov 2025 monthly Nov 2002 - Nov 2025
Greece (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Hong Kong SAR, China (% pa) 4.00 Dec 2025 monthly Jun 1992 - Dec 2025
Hungary (% pa) 6.50 Nov 2025 monthly Oct 1990 - Nov 2025
Iceland (% pa) 8.00 Dec 2025 monthly Jan 1994 - Dec 2025
India (% pa) 5.25 Dec 2025 monthly Apr 2001 - Dec 2025
Indonesia (% pa) 4.75 Dec 2025 monthly Jun 2015 - Dec 2025
Ireland (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Israel (% pa) 4.25 Dec 2025 monthly Dec 1998 - Dec 2025
Italy (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Ivory Coast (% pa) 2.50 Mar 2017 monthly Jan 1964 - Mar 2017
Japan (% pa) 0.50 Nov 2025 monthly Mar 2006 - Nov 2025
Jordan (% pa) 6.75 Dec 2025 monthly Dec 1965 - Dec 2025
Kazakhstan (% pa) 18.00 Dec 2025 monthly Feb 1992 - Dec 2025
Kenya (% pa) 9.00 Dec 2025 monthly Jul 2003 - Dec 2025
South Korea (% pa) 2.50 Nov 2025 monthly May 1999 - Nov 2025
Kosovo (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Kuwait (% pa) 3.50 Dec 2025 monthly Jul 1999 - Dec 2025
Kyrgyzstan (% pa) 11.00 Dec 2025 monthly Jan 1999 - Dec 2025
Laos (% pa) 8.50 Nov 2025 monthly Dec 1992 - Nov 2025
Latvia (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Lebanon (% pa) 20.00 Sep 2025 monthly Apr 1964 - Sep 2025
Lithuania (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Luxembourg (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Macau SAR, China (% pa) 4.00 Dec 2025 monthly Dec 1999 - Dec 2025
North Macedonia (% pa) 5.35 Oct 2025 monthly Jan 2002 - Oct 2025
Malawi (% pa) 26.00 Dec 2025 monthly Jan 1980 - Dec 2025
Malaysia (% pa) 2.75 Nov 2025 monthly Apr 2004 - Nov 2025
Malta (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Mauritius (% pa) 4.50 Dec 2025 monthly Dec 1999 - Dec 2025
Mexico (% pa) 7.00 Dec 2025 monthly Jan 2008 - Dec 2025
Moldova (% pa) 5.00 Dec 2025 monthly Feb 2001 - Dec 2025
Mongolia (% pa) 12.00 Dec 2025 monthly Jul 2007 - Dec 2025
Montenegro (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Morocco (% pa) 2.25 Nov 2025 monthly Jun 1995 - Nov 2025
Myanmar (% pa) 9.00 2025 yearly 1986 - 2025
Nepal (% pa) 6.00 Nov 2025 monthly Jul 2003 - Nov 2025
Netherlands (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
New Zealand (% pa) 2.25 Nov 2025 monthly Mar 1999 - Nov 2025
Nigeria (% pa) 27.00 Dec 2025 monthly Jan 2006 - Dec 2025
Norway (% pa) 4.00 Nov 2025 monthly Jan 1991 - Nov 2025
Oman (% pa) 4.25 Dec 2025 monthly May 2007 - Dec 2025
Pakistan (% pa) 12.00 Nov 2025 monthly Feb 1992 - Nov 2025
Paraguay (% pa) 6.00 Dec 2025 monthly Jul 2010 - Dec 2025
Peru (% pa) 4.25 Dec 2025 monthly Sep 2003 - Dec 2025
Philippines (% pa) 5.25 Nov 2025 monthly Jun 2016 - Nov 2025
Poland (% pa) 4.00 Dec 2025 monthly Jan 2005 - Dec 2025
Portugal (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Qatar (% pa) 4.60 Dec 2025 monthly Mar 2003 - Dec 2025
Romania (% pa) 6.50 Nov 2025 monthly Jan 2003 - Nov 2025
Russia (% pa) 16.00 Dec 2025 monthly Sep 2013 - Dec 2025
Saudi Arabia (% pa) 4.25 Dec 2025 monthly Jan 2000 - Dec 2025
Serbia (% pa) 5.75 Dec 2025 monthly Jan 2001 - Dec 2025
Singapore (% pa) 1.05 Nov 2025 monthly Jul 2005 - Nov 2025
Slovakia (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Slovenia (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
South Africa (% pa) 6.75 Dec 2025 monthly Nov 1999 - Dec 2025
Spain (% pa) 2.15 Dec 2025 monthly Jan 1999 - Dec 2025
Sri Lanka (% pa) 7.25 Dec 2025 monthly Jan 1997 - Dec 2025
Sweden (% pa) 1.75 Dec 2025 monthly Jan 1987 - Dec 2025
Switzerland (% pa) -0.08 Dec 2025 monthly Jun 1999 - Dec 2025
Syria (% pa) 5.00 Dec 2025 monthly Jan 1962 - Dec 2025
Taiwan, China (% pa) 2.00 Nov 2025 monthly Jul 1961 - Nov 2025
Tajikistan (% pa) 7.50 Dec 2025 monthly Jun 1995 - Dec 2025
Thailand (% pa) 1.25 Dec 2025 monthly May 2000 - Dec 2025
Tunisia (% pa) 7.50 Dec 2025 monthly Jan 2000 - Dec 2025
Turkey (% pa) 38.00 Dec 2025 monthly Jun 1996 - Dec 2025
Ukraine (% pa) 15.50 Dec 2025 monthly Dec 1992 - Dec 2025
United Arab Emirates (% pa) 3.65 Dec 2025 monthly Nov 2007 - Dec 2025

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Germany Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -2.3 Sep 2025 quarterly Dec 1991 - Sep 2025
Consolidated Fiscal Balance (USD mn) -46,923.274 Sep 2025 quarterly Mar 1991 - Sep 2025
Tax Revenue (USD mn) 289,924.014 Sep 2025 quarterly Mar 1991 - Sep 2025
Tax Revenue: % of GDP (%) 22.2 Sep 2025 quarterly Mar 1991 - Sep 2025
National Government Debt (USD mn) 3,271,285.0 Sep 2025 quarterly Mar 2000 - Sep 2025
Government Debt: % of GDP (%) 62.3 Jun 2025 quarterly Mar 2000 - Jun 2025
Forecast: Government Expenditure (EUR bn) 2,707.148 2030 yearly 1991 - 2030
Forecast: Government Net Debt (EUR bn) 3,815.153 2030 yearly 1991 - 2030
Forecast: Government Revenue (EUR bn) 2,497.167 2030 yearly 1991 - 2030
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 2.670 2030 yearly 1980 - 2030
Trade Balance (USD mn) 17,819.8 Sep 2025 monthly Jan 1957 - Sep 2025
Total Exports (USD mn) 152,951.1 Oct 2025 monthly Jan 1957 - Oct 2025
Total Exports Growth (%) 4.3 Oct 2025 monthly Jan 1951 - Oct 2025
Aluminum: Exports (USD th) 11,279,159.417 2024 yearly 1995 - 2024
Exports: Medicament (USD th) 70,970,902.063 2024 yearly 1995 - 2024
Exports: Medicinal and Pharmaceutical Product (USD th) 54,214,028.985 2024 yearly 1995 - 2024
Total Imports (USD mn) 133,068.3 Oct 2025 monthly Jan 1957 - Oct 2025
Total Imports Growth (%) 2.6 Oct 2025 monthly Jan 1951 - Oct 2025
Imports: Medicament (USD th) 36,738,204.645 2024 yearly 1995 - 2024
Imports: Medicinal and Pharmaceutical Product (USD th) 41,845,878.903 2024 yearly 1995 - 2024
Total Exports to USA (USD mn) 14,262.983 Oct 2025 monthly Sep 1977 - Oct 2025
Total Imports from USA (USD mn) 10,165.974 Sep 2025 monthly Jul 1990 - Sep 2025
Total Exports to China (USD mn) 7,608.555 Oct 2025 monthly Jan 2000 - Oct 2025
Total Imports from China (USD mn) 17,993.924 Oct 2025 monthly Jan 2000 - Oct 2025
Exports: SITC: Machinery and Mechanical Appliances (EUR th) 22,223,382.000 Oct 2025 monthly Jan 2008 - Oct 2025
Imports: SITC: Pharmaceutical Products (EUR th) 6,126,580.000 Oct 2025 monthly Jan 2008 - Oct 2025
Exports: SITC: Vehicles, Motorcycles & Bicycles (EUR th) 22,761,978.000 Oct 2025 monthly Jan 2008 - Oct 2025
Exports: SITC: Pharmaceutical Products (EUR th) 9,627,254.000 Oct 2025 monthly Jan 2008 - Oct 2025
Imports: SITC: Mineral Fuels & Oils, Bituminous Substances (EUR th) 8,174,804.000 Oct 2025 monthly Jan 2008 - Oct 2025
Imports: SITC: Electrical Machinery, TV Image and Sound Reproducing (EUR th) 17,985,372.000 Oct 2025 monthly Jan 2008 - Oct 2025
Imports: SITC: Machinery and Mechanical Appliances (EUR th) 15,076,653.000 Oct 2025 monthly Jan 2008 - Oct 2025
Exports: SITC: Electrical Machinery, TV Image and Sound Reproducing (EUR th) 15,892,665.000 Oct 2025 monthly Jan 2008 - Oct 2025
Imports: SITC: Vehicles, Motorcycles & Bicycles (EUR th) 12,975,615.000 Oct 2025 monthly Jan 2008 - Oct 2025
Exports: SITC: Plastics & Articles Thereof (EUR th) 5,891,117.000 Oct 2025 monthly Jan 2008 - Oct 2025
Exports: SITC: Iron & Steel (EUR th) 2,186,120.000 Oct 2025 monthly Jan 2008 - Oct 2025
Imports: SITC: Iron & Steel (EUR th) 2,250,170.000 Oct 2025 monthly Jan 2008 - Oct 2025
Exports: China (EUR th) 6,535,998.000 Oct 2025 monthly Jan 2000 - Oct 2025
Imports cif (EUR mn) 121,623.184 Oct 2025 monthly Jan 1950 - Oct 2025
Exports fob (EUR mn) 139,173.118 Oct 2025 monthly Jan 1950 - Oct 2025
Exports fob: YoY (%) 4.200 Oct 2025 monthly Jan 2001 - Oct 2025
Imports cif: YoY (%) 2.700 Oct 2025 monthly Jan 2001 - Oct 2025
Trade Balance: swda (EUR bn) 16.860 Oct 2025 monthly Jan 1950 - Oct 2025
Exports fob: swda (EUR bn) 129.170 Jan 2025 monthly Jan 1950 - Jan 2025
Imports cif: swda (EUR bn) 113.140 Jan 2025 monthly Jan 1950 - Jan 2025
Motor Vehicle Exports: Car (Unit) 217,900.000 Dec 2025 monthly Jul 2000 - Dec 2025
Exports Value: HS: Photosensitive Semiconductor Devices, Photovoltaic Cells asse... (EUR th) 25,537.000 Sep 2025 monthly Jan 2021 - Sep 2025
Imports Value: HS: Photosensitive Semiconductor Devices, Light Emitting Diodes (... (EUR th) 73,359.000 Oct 2025 monthly Jan 2021 - Oct 2025
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 11,438.6 Oct 2025 monthly Jan 1971 - Oct 2025
Current Account Balance (USD mn) 17,077.3 Oct 2025 monthly Jan 1991 - Oct 2025
Current Account Balance: % of GDP (%) 4.2 Sep 2025 quarterly Mar 1991 - Sep 2025
Foreign Direct Investment (USD mn) 15,861.7 Oct 2025 monthly Jan 1971 - Oct 2025
Foreign Direct Investment: % of GDP (%) 1.5 Sep 2025 quarterly Mar 1991 - Sep 2025
Foreign Portfolio Investment (USD mn) 83,492.035 Sep 2025 quarterly Mar 1971 - Sep 2025
Foreign Portfolio Investment: % of GDP (%) 6.4 Sep 2025 quarterly Mar 1971 - Sep 2025
Foreign Portfolio Investment: Equity Securities (USD mn) -5,082.3 Sep 2025 quarterly Mar 1971 - Sep 2025
Foreign Portfolio Investment: Debt Securities (USD mn) 88,574.297 Sep 2025 quarterly Mar 1971 - Sep 2025
External Debt (USD mn) 7,965,114.8 Sep 2025 quarterly Jun 1999 - Sep 2025
External Debt: % of GDP (%) 147.6 2024 yearly 1999 - 2024
External Debt: Short Term (USD mn) 2,905,517.9 Sep 2025 quarterly Mar 2004 - Sep 2025
External Debt: Short Term: % of GDP (%) 52.5 2024 yearly 2004 - 2024
Total Debt: % of GDP (%) 595.9 Jun 2025 quarterly Mar 1999 - Jun 2025
Forecast: Current Account Balance (USD bn) 244.728 2030 yearly 1980 - 2030
Net International Investment Position (USD mn) 4,118,779.652 Sep 2025 quarterly Dec 1957 - Sep 2025
Insolvency (IN): No of Proceedings (NP) (Unit) 9,448.000 Sep 2025 monthly Jan 2003 - Sep 2025
DE: BOP: Net Errors and Omissions (USD mn) 38,264.366 2024 yearly 1971 - 2024
DE: BOP: Financial Account: Portfolio Investment: Net (USD mn) 34,336.677 2024 yearly 1971 - 2024
DE: BOP: Current Account: Personal Remittances: Paid (USD mn) 23,662.388 2024 yearly 1971 - 2024
DE: BOP: Current Account: Personal Remittances: Received (USD mn) 21,225.006 2024 yearly 1971 - 2024
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 1.5 2023 yearly 2005 - 2023
Household Debt: % of GDP (%) 49.0 Jun 2025 quarterly Dec 1991 - Jun 2025
Money Supply M1 (USD mn) 3,336,159.983 Nov 2025 monthly Jan 1957 - Nov 2025
Money Supply M2 (USD mn) 4,676,307.976 Nov 2025 monthly Jan 1969 - Nov 2025
M2 Growth (%) 3.5 Nov 2025 monthly Jan 1970 - Nov 2025
Reserve Requirement Ratio (%) 1.0 Dec 2025 monthly Jan 1999 - Dec 2025
Foreign Exchange Reserves (USD mn) 37,407.7 Nov 2025 monthly Jan 1957 - Nov 2025
Foreign Exchange Reserves: % of GDP (%) 0.704 Sep 2025 quarterly Dec 1991 - Sep 2025
Foreign Exchange Reserves: Months of Import (NA) 0.3 Oct 2025 monthly Jan 1957 - Oct 2025
Gold Reserves (USD mn) 463,824.326 Dec 2025 monthly Dec 1998 - Dec 2025
Total Deposits (USD mn) 7,139,695.563 Nov 2025 monthly Sep 1997 - Nov 2025
Total Deposits Growth (%) 1.9 Nov 2025 monthly Sep 1998 - Nov 2025
Domestic Credit (USD mn) 0.0 May 2025 monthly Jan 1999 - May 2025
Domestic Credit Growth (%) -100.0 May 2025 monthly Jan 2000 - May 2025
Debt Service Ratio: Households (%) 5.400 Jun 2025 quarterly Mar 1999 - Jun 2025
Debt Service Ratio: Private Non-Financial Sector (%) 12.400 Jun 2025 quarterly Mar 1999 - Jun 2025
Credit to Households (USD bn) 2,536.840 Jun 2025 quarterly Dec 1970 - Jun 2025
Credit to Private Non-Financial Sector (USD bn) 7,157.690 Jun 2025 quarterly Mar 1955 - Jun 2025
Household Debt (USD mn) 2,531,962.4 Jun 2025 quarterly Mar 1991 - Jun 2025
Total Loans (USD mn) 8,686,511.475 Nov 2025 monthly Jan 1957 - Nov 2025
Total Loans Growth (%) 0.54 Nov 2025 monthly Dec 1949 - Nov 2025
Private Debt: % of Nominal GDP (%) 73.24 Sep 2025 quarterly Dec 1991 - Sep 2025
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 9.6 Dec 2025 monthly Jan 1992 - Dec 2025
Business Climate: Balance: sa: Manufacturing Industry (NA) -14.776 Dec 2025 monthly Jan 1991 - Dec 2025
Business Assessment: Balance: Manufacturing Industry (NA) -21.200 Dec 2025 monthly Jan 1991 - Dec 2025
Economic Expectation Indicator: Germany (%) 45.800 Dec 2025 monthly Dec 1991 - Dec 2025
Current Economic Situation Indicator: Germany: Balance (%) -81.000 Dec 2025 monthly Dec 1991 - Dec 2025
Leading Economic Index (2016=100) 87.300 Dec 2024 monthly Jan 1965 - Dec 2024

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