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Stats › Intraday en marktmicrostructuur › Pass-through, euro area

Corporate borrowers got 85 per cent of the European rate cuts, current account savers got 5 per cent

Loans to companies
85.1%
Household deposits with agreed maturity
65.7%
Loans for house purchase
23.4%
Household overnight deposits
5.1%

Our own arithmetic: the change in each rate from its reading at the policy peak to August 2026, divided by the 1.75 percentage point fall in the deposit facility rate. Each input rate is a composite rate on new business read in a monthly bank interest rate release. The central bank publishes no pass-through ratio of its own, so these are derived figures, not official ones.

Between the September 2023 peak and August 2026 the deposit facility rate fell 1.75 percentage points. Company loan rates fell 1.49 points over the same window. The rate on household overnight deposits fell 0.09 points.

1.75ppPolicy rate fall, Sept 2023 to Aug 2026
85.1%Pass-through to company loan rates
65.7%Pass-through to household term deposits
5.1%Pass-through to household overnight deposits

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