Deutsche Bundesbank
Discount rate, 2.50% since 19 April 1996.
as of 2026-09-08 · own history · 91 decisions since 1948
Germany·EUR·all central banks2026-09-08 · 2.50%
Every decision
Newest first; a shaded row marks a change of instrument.
| Date | Level | Change | Instrument |
|---|---|---|---|
| 1996-04-19 | 2.50% | −0.50% | Discount rate |
| 1995-12-15 | 3.00% | −0.50% | Discount rate |
| 1995-08-25 | 3.50% | −0.50% | Discount rate |
| 1995-03-31 | 4.00% | −0.50% | Discount rate |
| 1994-05-13 | 4.50% | −0.50% | Discount rate |
| 1994-04-15 | 5.00% | −0.25% | Discount rate |
| 1994-02-18 | 5.25% | −0.50% | Discount rate |
| 1993-10-22 | 5.75% | −0.50% | Discount rate |
| 1993-09-10 | 6.25% | −0.50% | Discount rate |
| 1993-07-02 | 6.75% | −0.50% | Discount rate |
| 1993-04-23 | 7.25% | −0.25% | Discount rate |
| 1993-03-19 | 7.50% | −0.50% | Discount rate |
| 1993-02-05 | 8.00% | −0.25% | Discount rate |
| 1992-09-15 | 8.25% | −0.50% | Discount rate |
| 1992-07-17 | 8.75% | +0.75% | Discount rate |
| 1991-12-20 | 8.00% | +0.50% | Discount rate |
| 1991-08-16 | 7.50% | +1.00% | Discount rate |
| 1991-02-01 | 6.50% | +0.50% | Discount rate |
| 1989-10-06 | 6.00% | +1.00% | Discount rate |
| 1989-06-30 | 5.00% | +0.50% | Discount rate |
| 1989-04-21 | 4.50% | +0.50% | Discount rate |
| 1989-01-20 | 4.00% | +0.50% | Discount rate |
| 1988-08-26 | 3.50% | +0.50% | Discount rate |
| 1988-07-01 | 3.00% | +0.50% | Discount rate |
| 1987-12-04 | 2.50% | −0.50% | Discount rate |
| 1987-01-23 | 3.00% | −0.50% | Discount rate |
| 1986-03-07 | 3.50% | −0.50% | Discount rate |
| 1985-08-16 | 4.00% | −0.50% | Discount rate |
| 1984-06-29 | 4.50% | +0.50% | Discount rate |
| 1983-03-18 | 4.00% | −3.50% | Discount rate |
| 1980-05-02 | 7.50% | +0.50% | Discount rate |
| 1980-02-29 | 7.00% | +1.00% | Discount rate |
| 1979-11-01 | 6.00% | +1.00% | Discount rate |
| 1979-07-13 | 5.00% | +1.00% | Discount rate |
| 1979-03-30 | 4.00% | +1.00% | Discount rate |
| 1977-12-16 | 3.00% | −0.50% | Discount rate |
| 1975-09-12 | 3.50% | −0.50% | Discount rate |
| 1975-08-15 | 4.00% | −0.50% | Discount rate |
| 1975-05-23 | 4.50% | −0.50% | Discount rate |
| 1975-03-07 | 5.00% | −0.50% | Discount rate |
| 1975-02-07 | 5.50% | −0.50% | Discount rate |
| 1974-12-20 | 6.00% | −0.50% | Discount rate |
| 1974-10-25 | 6.50% | −0.50% | Discount rate |
| 1973-06-01 | 7.00% | +1.00% | Discount rate |
| 1973-05-04 | 6.00% | +1.00% | Discount rate |
| 1973-01-12 | 5.00% | +0.50% | Discount rate |
| 1972-12-01 | 4.50% | +0.50% | Discount rate |
| 1972-11-03 | 4.00% | +0.50% | Discount rate |
| 1972-10-09 | 3.50% | +0.50% | Discount rate |
| 1972-02-25 | 3.00% | −1.00% | Discount rate |
| 1971-12-23 | 4.00% | −0.50% | Discount rate |
| 1971-10-14 | 4.50% | −0.50% | Discount rate |
| 1971-04-01 | 5.00% | −1.00% | Discount rate |
| 1970-12-03 | 6.00% | −0.50% | Discount rate |
| 1970-11-18 | 6.50% | −0.50% | Discount rate |
| 1970-07-16 | 7.00% | −0.50% | Discount rate |
| 1970-03-09 | 7.50% | +1.50% | Discount rate |
| 1969-09-11 | 6.00% | +1.00% | Discount rate |
| 1969-06-20 | 5.00% | +1.00% | Discount rate |
| 1969-04-18 | 4.00% | +1.00% | Discount rate |
| 1967-05-12 | 3.00% | −0.50% | Discount rate |
| 1967-04-14 | 3.50% | −0.50% | Discount rate |
| 1967-02-17 | 4.00% | −0.50% | Discount rate |
| 1967-01-06 | 4.50% | −0.50% | Discount rate |
| 1966-05-27 | 5.00% | +1.00% | Discount rate |
| 1965-08-13 | 4.00% | +0.50% | Discount rate |
| 1965-01-22 | 3.50% | +0.50% | Discount rate |
| 1961-05-05 | 3.00% | −0.50% | Discount rate |
| 1961-01-20 | 3.50% | −0.50% | Discount rate |
| 1960-11-11 | 4.00% | −1.00% | Discount rate |
| 1960-06-03 | 5.00% | +1.00% | Discount rate |
| 1959-10-23 | 4.00% | +1.00% | Discount rate |
| 1959-09-04 | 3.00% | +0.25% | Discount rate |
| 1959-01-10 | 2.75% | −0.25% | Discount rate |
| 1958-06-27 | 3.00% | −0.50% | Discount rate |
| 1958-01-17 | 3.50% | −0.50% | Discount rate |
| 1957-09-19 | 4.00% | −0.50% | Discount rate |
| 1957-01-11 | 4.50% | −0.50% | Discount rate |
| 1956-05-06 | 5.00% | −0.50% | Discount rate |
| 1956-04-19 | 5.50% | +1.00% | Discount rate |
| 1956-03-08 | 4.50% | +1.00% | Discount rate |
| 1955-08-04 | 3.50% | +0.50% | Discount rate |
| 1954-05-20 | 3.00% | −0.50% | Discount rate |
| 1953-06-11 | 3.50% | −0.50% | Discount rate |
| 1953-01-08 | 4.00% | −0.50% | Discount rate |
| 1952-08-21 | 4.50% | −0.50% | Discount rate |
| 1952-05-29 | 5.00% | −1.00% | Discount rate |
| 1950-10-27 | 6.00% | +2.00% | Discount rate |
| 1949-07-14 | 4.00% | −0.50% | Discount rate |
| 1949-05-27 | 4.50% | −0.50% | Discount rate |
| 1948-07-01 | 5.00% | — | Discount rate |
1996-04-192.50%
Discount rate−0.50%
1995-12-153.00%
Discount rate−0.50%
1995-08-253.50%
Discount rate−0.50%
1995-03-314.00%
Discount rate−0.50%
1994-05-134.50%
Discount rate−0.50%
1994-04-155.00%
Discount rate−0.25%
1994-02-185.25%
Discount rate−0.50%
1993-10-225.75%
Discount rate−0.50%
1993-09-106.25%
Discount rate−0.50%
1993-07-026.75%
Discount rate−0.50%
1993-04-237.25%
Discount rate−0.25%
1993-03-197.50%
Discount rate−0.50%
Show all 91 decisions
1993-02-058.00%
Discount rate−0.25%
1992-09-158.25%
Discount rate−0.50%
1992-07-178.75%
Discount rate+0.75%
1991-12-208.00%
Discount rate+0.50%
1991-08-167.50%
Discount rate+1.00%
1991-02-016.50%
Discount rate+0.50%
1989-10-066.00%
Discount rate+1.00%
1989-06-305.00%
Discount rate+0.50%
1989-04-214.50%
Discount rate+0.50%
1989-01-204.00%
Discount rate+0.50%
1988-08-263.50%
Discount rate+0.50%
1988-07-013.00%
Discount rate+0.50%
1987-12-042.50%
Discount rate−0.50%
1987-01-233.00%
Discount rate−0.50%
1986-03-073.50%
Discount rate−0.50%
1985-08-164.00%
Discount rate−0.50%
1984-06-294.50%
Discount rate+0.50%
1983-03-184.00%
Discount rate−3.50%
1980-05-027.50%
Discount rate+0.50%
1980-02-297.00%
Discount rate+1.00%
1979-11-016.00%
Discount rate+1.00%
1979-07-135.00%
Discount rate+1.00%
1979-03-304.00%
Discount rate+1.00%
1977-12-163.00%
Discount rate−0.50%
1975-09-123.50%
Discount rate−0.50%
1975-08-154.00%
Discount rate−0.50%
1975-05-234.50%
Discount rate−0.50%
1975-03-075.00%
Discount rate−0.50%
1975-02-075.50%
Discount rate−0.50%
1974-12-206.00%
Discount rate−0.50%
1974-10-256.50%
Discount rate−0.50%
1973-06-017.00%
Discount rate+1.00%
1973-05-046.00%
Discount rate+1.00%
1973-01-125.00%
Discount rate+0.50%
1972-12-014.50%
Discount rate+0.50%
1972-11-034.00%
Discount rate+0.50%
1972-10-093.50%
Discount rate+0.50%
1972-02-253.00%
Discount rate−1.00%
1971-12-234.00%
Discount rate−0.50%
1971-10-144.50%
Discount rate−0.50%
1971-04-015.00%
Discount rate−1.00%
1970-12-036.00%
Discount rate−0.50%
1970-11-186.50%
Discount rate−0.50%
1970-07-167.00%
Discount rate−0.50%
1970-03-097.50%
Discount rate+1.50%
1969-09-116.00%
Discount rate+1.00%
1969-06-205.00%
Discount rate+1.00%
1969-04-184.00%
Discount rate+1.00%
1967-05-123.00%
Discount rate−0.50%
1967-04-143.50%
Discount rate−0.50%
1967-02-174.00%
Discount rate−0.50%
1967-01-064.50%
Discount rate−0.50%
1966-05-275.00%
Discount rate+1.00%
1965-08-134.00%
Discount rate+0.50%
1965-01-223.50%
Discount rate+0.50%
1961-05-053.00%
Discount rate−0.50%
1961-01-203.50%
Discount rate−0.50%
1960-11-114.00%
Discount rate−1.00%
1960-06-035.00%
Discount rate+1.00%
1959-10-234.00%
Discount rate+1.00%
1959-09-043.00%
Discount rate+0.25%
1959-01-102.75%
Discount rate−0.25%
1958-06-273.00%
Discount rate−0.50%
1958-01-173.50%
Discount rate−0.50%
1957-09-194.00%
Discount rate−0.50%
1957-01-114.50%
Discount rate−0.50%
1956-05-065.00%
Discount rate−0.50%
1956-04-195.50%
Discount rate+1.00%
1956-03-084.50%
Discount rate+1.00%
1955-08-043.50%
Discount rate+0.50%
1954-05-203.00%
Discount rate−0.50%
1953-06-113.50%
Discount rate−0.50%
1953-01-084.00%
Discount rate−0.50%
1952-08-214.50%
Discount rate−0.50%
1952-05-295.00%
Discount rate−1.00%
1950-10-276.00%
Discount rate+2.00%
1949-07-144.00%
Discount rate−0.50%
1949-05-274.50%
Discount rate−0.50%
1948-07-015.00%
Discount rate—
Where these numbers come from
Every change from the Bundesbank's own discount and lombard rate table, 1948-07-01 to 1996-04-19 (held at that level through 1998-12-31, the Bank's last day of independent rate-setting before the ECB took over on 1999-01-01). The lombard rate is carried on each row as secondary. BIS Germany daily matches our discount level on 53 of 60 overlapping change dates and matches our lombard level (the binding rate during the 1979-1980 and 1991 tightening episodes and the 1983-03-18 cut) on 6 more; 1 dates match neither.