European Central Bank

Money Moves

Deciding whether to raise rates again

The European Central Bank spent early 2026 cutting interest rates. An oil shock, and now a surprise growth spurt, have flipped its direction toward another hike.

Updated Jul 31

Rule Changes

Raised rates for the first time in nearly three years

The European Central Bank cut interest rates for two years. On Thursday it reversed, raising its key deposit rate to 2.25% from 2.0%. It is the first hike since September 2023.

Updated Jun 11

Rule Changes

Expanded to 21 members; welcomed Bulgaria with Frankfurt headquarters illumination

Bulgaria became the 21st eurozone member on January 1, 2026, replacing the lev at a fixed rate of 1.95583 per euro. Euro banknotes and coins began circulating at midnight, ending nearly three decades under a currency board.

Updated May 19