The European Central Bank’s latest monetary policy and economic outlook as of November 2025, including interest rates, inflation, GDP, and financial conditions in the euro area.
The European Central Bank (ECB) has released its latest monetary policy update as of November 17, 2025. The report includes details on the deposit facility rate, asset holdings, inflation projections, GDP growth, labour market conditions, and financial market developments.
The deposit facility rate remains at -0.50%. Asset side data show ongoing asset purchase programmes and credit operations. Inflation projections indicate a gradual decline from recent peaks, with HICP inflation expected to average 2.0% in Q4 2025, stabilizing around 2.0% in 2026 and 2027.
Real GDP growth is projected to continue, supported by private consumption and investment. Labour market data show an unemployment rate around 7.5% in Q4 2025. Wage growth expectations and credit flows to households and firms are also detailed in the report.
The report discusses the role of asset markets, exchange rate patterns, and the potential for economic reforms to support sustainable growth and resilience in the euro area. The full report is available at the ECB’s official website.
