Monthly euro short term rate 2025| ��ƽ��

Monthly euro short term rate from October 2019 to January 2025

Characteristic	Euro short-term rate
Jan 25	2.92%
Dec 24	3.06%
Nov 24	3.16%
Oct 24	3.34%
Sep 24	3.56%
Aug 24	3.66%
Jul 24	3.66%
Jun 24	3.75%
May 24	3.91%
Apr 24	3.91%
Mar 24	3.91%
Feb 24	3.91%
Jan 24	3.9%
Dec 23	3.9%
Nov 23	3.9%
Oct 23	3.9%
Sep 23	3.75%
Aug 23	3.64%
Jul 23	3.4%
Jun 23	3.24%
May 23	3.08%
Apr 23	2.9%
Mar 23	2.57%
Feb 23	2.28%
Jan 23	1.9%
Dec 22	1.57%
Nov 22	1.37%
Oct 22	0.66%
Sep 22	0.36%
Aug 22	-0.08%
Jul 22	-0.51%
Jun 22	-0.58%
May 22	-0.58%
Apr 22	-0.58%
Mar 22	-0.58%
Feb 22	-0.58%
Jan 22	-0.58%
Dec 21	-0.58%
Nov 21	-0.57%
Oct 21	-0.57%
Sep 21	-0.57%
Aug 21	-0.57%
Jul 21	-0.57%
Jun 21	-0.56%
May 21	-0.56%
Apr 21	-0.57%
Mar 21	-0.56%
Feb 21	-0.56%
Jan 21	-0.56%
Dec 20	-0.56%
Nov 20	-0.56%
Oct 20	-0.55%
Sep 20	-0.55%
Aug 20	-0.55%
Jul 20	-0.55%
Jun 20	-0.55%
May 20	-0.54%
Apr 20	-0.54%
Mar 20	-0.53%
Feb 20	-0.54%
Jan 20	-0.54%
Dec 19	-0.54%
Nov 19	-0.54%
Oct 19	-0.55%

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Release date

January 2025

More information

Region

Europe

Survey time period

October 2019 to January 2025

Supplementary notes

Values are for the final trading day of the month, and have been rounded.

According to the source: "The euro short-term rate (€STR) reflects the wholesale euro unsecured overnight borrowing costs of banks located in the euro area. The €STR is published on each TARGET2 business day based on transactions conducted and settled on the previous TARGET2 business day (the reporting date “T”) with a maturity date of T+1 which are deemed to have been executed at arm’s length and thus reflect market rates in an unbiased way."

The euro short term rate was introduced on October 1, 2019, with an initial value of -0.549 percent.

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Since its introduction in October 2019, the Euro Short-Term Rate (€STR) has remained constant at between -0.51 and -0.59 percent until the second half 2022. Since then, it increased, peaking at 3.9 between the end of 2023 and the beginning of 2024. As of January 2025, the rate stood at 2.92 percent. The €STR is an interest rate benchmark designed to replace the Euro OverNight Index Average (EOIA), adopting a different calculation methodology that returns significantly lower rates. It is intended that the EOIA will be discontinued from January 3, 2022.

How is the Euro Short-Term Rate calculated?

The €STR uses transaction data included in daily reporting on monetary exchanges from the 52 largest eurozone banks to calculate the average interests rate attached to loans throughout a business day. Only unsecured loans are included, as the rate on secured loans would be affected by the type of underlying collateral. Several key respects distinguish the €STR from alternative benchmarks like the EOIA, and the London Intrabank Offered Rate (LIBOR). First, the €STR is based on transaction data alone, whereas the LIBOR asking major banks directly what rate they would charge other banks for short terms loans. The second main difference is that, by considering money market transactions rather than only intrabank lending (like the EOIA and LIBOR), the €STR incorporates the role of other major actors like money market funds, insurance companies, and other financial corporations.

Difference between €STR and EURIBOR

The Euro Interbank Offered Rate (EURIBOR) is the other main reference interest rate governing eurozone lending. The EURIBOR differs from €STR though as it is based on a survey of the interest rates a panel of major banks would offer other major banks for interbank term deposits. There are therefore different reference rates published for different maturities, for example the EURIBOR one month rate, the EURIBOR six month rate, and the EURIBOR 12 month rate. In contrast, the €STR is intended to track the cost of overnight borrowing.