Euro area MFI interest rates mixed in March

In March 2026, the weighted indicator for corporate loan financing costs in the euro area rose by 8 basis points to 3.59 percent.

This increase was primarily influenced by new loans to businesses, with significant movements observed across various maturities.

For instance, new loans exceeding €1 million with an initial interest rate fixation between three months and one year saw a substantial climb of 37 basis points, reaching 3.51 percent.

Loans of the same size with variable rates or a very short fixation period (up to three months) also increased by 13 basis points to 3.32 percent.

Conversely, long-term corporate borrowing costs for new loans over €1 million with fixation exceeding ten years decreased by 6 basis points to 3.65 percent.

Smaller loans up to €250,000 with short-term fixation remained stable at 3.64 percent.

On the deposit side, new corporate deposits with an agreed maturity of up to one year increased by 4 basis points to 1.94 percent, while overnight deposits were nearly unchanged at 0.54 percent.

For private households, the weighted indicator for housing loan financing costs remained largely unchanged in March 2026, standing at 3.35 percent.

Most categories of housing loans showed minimal movement, including variable-rate loans or those with an initial fixation up to one year (3.50 percent), and long-term housing loans (over ten years fixation) almost constant at 3.24 percent.

In contrast, new consumer loans to households recorded a decrease of 5 basis points, settling at 7.46 percent.

On the deposit side, new household deposits with an agreed maturity of up to one year increased by 4 basis points to 1.82 percent, while overnight deposits were essentially unchanged at 0.26 percent.