Portugal Policy Rate
1999 - 2025 | Monthly | % pa | European Central Bank
Key information about Portugal Policy Rate
- Portugal 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.
- Portugal 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.
Portugal joined the Euro Area on January 1st, 1999, thus adopting the European Central Bank (ECB) monetary policy mechanisms.
Related information about Portugal Policy Rate
- In the latest reports, Portugal 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: Portugal: ECB Harmonised) was reported at 3.03 % pa in Nov 2025.
- Portugal Exchange Rate against USD averaged 0.86 (USD/EUR) in Oct 2025.
- Its Real Effective Exchange Rate was 94.46 in Nov 2025.
View Portugal's Policy Rate from Jan 1999 to Dec 2025 in the chart:
What was Portugal's Policy Rate in Dec 2025?
Portugal 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) | 5.75 Dec 2025 | monthly | Jul 2003 - Dec 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 Jan 2026 | monthly | Jan 2005 - Jan 2026 |
| 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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Learn more about what we doPortugal Key Series
| Government and Public Finance | Last | Frequency | Range |
|---|---|---|---|
| Consolidated Fiscal Balance: % of GDP (%) | 0.4 Sep 2025 | quarterly | Dec 1995 - Sep 2025 |
| Consolidated Fiscal Balance (USD mn) | 3,449.979 Sep 2025 | quarterly | Mar 1995 - Sep 2025 |
| Tax Revenue (USD mn) | 27,008.651 Sep 2025 | quarterly | Mar 1999 - Sep 2025 |
| Tax Revenue: % of GDP (%) | 29.4 Sep 2025 | quarterly | Mar 1999 - Sep 2025 |
| National Government Debt (USD mn) | 345,501.8 Sep 2025 | quarterly | Mar 2000 - Sep 2025 |
| Government Debt: % of GDP (%) | 97.6 Sep 2025 | quarterly | Dec 1995 - Sep 2025 |
| Forecast: Government Expenditure (EUR bn) | 156.693 2030 | yearly | 1986 - 2030 |
| Forecast: Government Net Debt (EUR bn) | 280.157 2030 | yearly | 1990 - 2030 |
| Forecast: Government Revenue (EUR bn) | 153.396 2030 | yearly | 1986 - 2030 |
| General Govt Gross Debt: as % of GDP (%) | 97.600 Sep 2025 | quarterly | Dec 1995 - Sep 2025 |
| Government Budget: ytd: Balance (EUR mn) | -4,270.494 Oct 2025 | monthly | Dec 1992 - Oct 2025 |
| Government Budget: ytd: Revenue (EUR mn) | 61,989.239 Nov 2025 | monthly | Dec 2004 - Nov 2025 |
| Government Budget: ytd: Expenditure: Current (EUR mn) | 56,887.064 Oct 2025 | monthly | Jan 2005 - Oct 2025 |
| Government Budget: ytd: Revenue: Current: Tax: Direct (EUR mn) | 22,801.247 Oct 2025 | monthly | Dec 1992 - Oct 2025 |
| Government Budget: ytd: Expenditure (EUR mn) | 60,259.798 Oct 2025 | monthly | May 2009 - Oct 2025 |
| Government Budget: ytd: Revenue: Current: Tax: Indirect: Value Added Tax (EUR mn) | 24,257.188 Nov 2025 | monthly | Dec 1992 - Nov 2025 |
| Government Budget: ytd: Expenditure: Capital (EUR mn) | 3,372.733 Oct 2025 | monthly | Jan 2005 - Oct 2025 |
| Foreign Trade | Last | Frequency | Range |
|---|---|---|---|
| Forecast: Exports of Goods Growth (%) | 1.806 2030 | yearly | 1980 - 2030 |
| Trade Balance (USD mn) | -2,301.4 Nov 2025 | monthly | Jan 1957 - Nov 2025 |
| Total Exports (USD mn) | 7,707.2 Nov 2025 | monthly | Jan 1993 - Nov 2025 |
| Total Exports Growth (%) | -1.7 Nov 2025 | monthly | Jan 1994 - Nov 2025 |
| Aluminum: Exports (USD th) | 311,567.683 2024 | yearly | 1995 - 2024 |
| Exports: Medicament (USD th) | 3,528,600.993 2024 | yearly | 1995 - 2024 |
| Exports: Medicinal and Pharmaceutical Product (USD th) | 156,342.270 2024 | yearly | 1995 - 2024 |
| Total Imports (USD mn) | 11,532.8 Sep 2025 | monthly | Jan 1993 - Sep 2025 |
| Total Imports Growth (%) | -3.0 Oct 2025 | monthly | Jan 1994 - Oct 2025 |
| Imports: Medicament (USD th) | 2,985,797.474 2024 | yearly | 1995 - 2024 |
| Imports: Medicinal and Pharmaceutical Product (USD th) | 1,408,935.558 2024 | yearly | 1995 - 2024 |
| Total Exports to USA (USD mn) | 336.110 Nov 2025 | monthly | Jan 1960 - Nov 2025 |
| Total Imports from USA (USD mn) | 181.382 Nov 2025 | monthly | Dec 1974 - Nov 2025 |
| Total Exports to China (USD mn) | 60.889 Nov 2025 | monthly | Sep 1994 - Nov 2025 |
| Total Imports from China (USD mn) | 530.235 Nov 2025 | monthly | Feb 1974 - Nov 2025 |
| Exports (EUR) | 6,668,250,924.000 Nov 2025 | monthly | Jan 1993 - Nov 2025 |
| Exports: Electrical Machinery and Equipment (EUR mn) | 597.665 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Exports: Vehicles Other Than Railway and Tramway (EUR mn) | 1,001.039 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Exports: Footwear and Gaiters (EUR mn) | 135.689 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Exports: Plastics and Articles (EUR mn) | 280.905 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Exports: Mineral Fuels, Mineral Oils and Products of Their Distillation (EUR mn) | 145.354 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Exports: EU: Germany (EUR mn) | 1,035.105 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Exports: EU: France (EUR mn) | 811.346 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Exports: EU: Spain (EUR mn) | 1,822.289 Oct 2025 | monthly | Jan 2004 - Oct 2025 |
| Imports (EUR) | 8,659,466,501.000 Nov 2025 | monthly | Jan 1993 - Nov 2025 |
| Imports: Mineral Fuels, Mineral Oils and Products of Their Distillation (EUR mn) | 581.379 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Imports: Vehicles Other Than Railway and Tramway (EUR mn) | 1,143.243 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Imports: Plastics and Articles (EUR mn) | 353.338 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Imports: Nuclear Reactors, Boilers (EUR mn) | 818.472 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Imports: Electrical Machinery and Equipment (EUR mn) | 888.003 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Imports: EU: Germany (EUR mn) | 1,078.514 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Imports: EU: France (EUR mn) | 658.496 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Imports: EU: Spain (EUR mn) | 3,103.768 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Imports: Non EU: United States (EUR mn) | 156.932 Nov 2025 | monthly | Jan 2004 - Nov 2025 |
| Export Value Index (2015=100) | 136.577 2021 | yearly | 1995 - 2021 |
| Import Value Index (2015=100) | 146.028 2021 | yearly | 1995 - 2021 |
| Monetary | Last | Frequency | Range |
|---|---|---|---|
| Non Performing Loans Ratio (%) | 1.2 Nov 2025 | monthly | Dec 1997 - Nov 2025 |
| Household Debt: % of GDP (%) | 55.9 Sep 2025 | quarterly | Dec 2007 - Sep 2025 |
| Non-Performing Loans (USD mn) | 2,941.644 Nov 2025 | monthly | Dec 1997 - Nov 2025 |
| Money Supply M1 (USD mn) | 175,751.669 Oct 2025 | monthly | Dec 1979 - Oct 2025 |
| Money Supply M2 (USD mn) | 353,348.016 Oct 2025 | monthly | Dec 1979 - Oct 2025 |
| M2 Growth (%) | 6.0 Oct 2025 | monthly | Dec 1980 - Oct 2025 |
| Reserve Requirement Ratio (%) | 1.0 Nov 2025 | monthly | Jan 1999 - Nov 2025 |
| Foreign Exchange Reserves (USD mn) | 10,723.2 Nov 2025 | monthly | Dec 1999 - Nov 2025 |
| Foreign Exchange Reserves: % of GDP (%) | 1.976 Sep 2025 | quarterly | Dec 1999 - Sep 2025 |
| Foreign Exchange Reserves: Months of Import (NA) | 1.1 Nov 2025 | monthly | Dec 1999 - Nov 2025 |
| Gold Reserves (USD mn) | 46,911.414 Sep 2025 | monthly | Dec 1956 - Sep 2025 |
| Total Deposits (USD mn) | 345,941.822 Oct 2025 | monthly | Dec 1979 - Oct 2025 |
| Total Deposits Growth (%) | 6.0 Nov 2025 | monthly | Dec 1980 - Nov 2025 |
| Domestic Credit (USD mn) | 396,331.3 Nov 2025 | monthly | Dec 1979 - Nov 2025 |
| Domestic Credit Growth (%) | 0.3 Aug 2019 | monthly | Dec 2001 - Aug 2019 |
| Debt Service Ratio: Households (%) | 5.900 Jun 2025 | quarterly | Mar 1999 - Jun 2025 |
| Debt Service Ratio: Private Non-Financial Sector (%) | 12.600 Jun 2025 | quarterly | Mar 1999 - Jun 2025 |
| Credit to Households (USD bn) | 185.143 Jun 2025 | quarterly | Dec 1979 - Jun 2025 |
| Credit to Private Non-Financial Sector (USD bn) | 453.321 Jun 2025 | quarterly | Mar 1957 - Jun 2025 |
| Household Debt (USD mn) | 198,211.4 Sep 2025 | quarterly | Dec 2007 - Sep 2025 |
| Total Loans (USD mn) | 264,951.539 Nov 2025 | monthly | Dec 1979 - Nov 2025 |
| Total Loans Growth (%) | 7.05 Nov 2025 | monthly | Dec 1980 - Nov 2025 |
| Private Debt: % of Nominal GDP (%) | 71.45 Sep 2025 | quarterly | Dec 1995 - Sep 2025 |
| Money Supply: M3: National Contribution: EC: M2: M1 (EUR mn) | 152,284.610 Oct 2025 | monthly | Sep 1997 - Oct 2025 |
| Money Supply: M3: National Contribution: EC: M2 (EUR mn) | 308,684.760 Nov 2025 | monthly | Sep 1997 - Nov 2025 |
| Official Reserve Assets: Foreign Currency Reserves (FC) (EUR mn) | 4,064.740 Jan 2025 | monthly | Dec 1999 - Jan 2025 |
| Official Reserve Assets (EUR mn) | 41,758.660 Jan 2025 | monthly | Dec 1999 - Jan 2025 |
| Outstanding Housing Credit (EUR) | 74,670.000 Nov 2025 | monthly | Nov 2003 - Nov 2025 |
| Business and Economic Survey | Last | Frequency | Range |
|---|---|---|---|
| Business Confidence Growth (% Point) | 3.9 Dec 2025 | monthly | Jan 1988 - Dec 2025 |
| Economic Sentiment Index: sa (1990-2006=100) | 107.500 Dec 2025 | monthly | Jan 1987 - Dec 2025 |
| Coincident Indicator: Economic Activity (%) | 1.600 Jan 2025 | monthly | Jan 1978 - Jan 2025 |
More Indicators for Portugal
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