FX.co ★ ECB Holds Key Rate at 2.65% in October, Signaling Policy Pause for Euro Zone

The European Central Bank left its key interest rate unchanged at 2.65% in October 2026, maintaining the same level as in September. The decision underscores a pause in the ECB’s monetary policy cycle, with the benchmark rate steady at 2.65% for a second consecutive month.

The unchanged rate suggests policymakers are in a wait-and-see mode, monitoring how earlier rate moves filter through the Euro Zone economy. With the latest data updated as of 29 October 2026, markets and analysts are likely to focus on incoming inflation and growth figures to gauge whether the ECB’s next move will be a prolonged hold, a tightening step, or the start of an eventual easing cycle.