Rate Gap Monitor

The gap between the ECB rate and what Irish banks pay businesses on deposit

Name: Irish business deposit rate gap (ECB vs Irish banks)
Creator: Vendors.ie
Published: 2026-06-10

As of July 2026, the ECB paid banks 2.25% to park cash overnight while Irish banks paid businesses just 0.12% on overnight deposits: a gap of 213 bps.#

Reference month July 2026 · Source: ECB Data Portal, Irish series compiled by the Central Bank of Ireland · Updated 2026-09-10

ECB pays banks

2.25%

deposit facility rate

Banks pay business

0.12%

overnight deposits

The gap

213 bps

what banks keep

Cycle pass-through

8.0%

of ECB hikes since June 2026

Since the ECB started raising in June 2026, the policy rate has moved 25 bps and the Irish overnight business deposit rate has moved 2 bps.

ECB rate vs Irish business deposit rate, charted

The full monthly history of both rates. The red line is what banks earn parking cash at the ECB overnight; the blue line is what they pay Irish businesses on overnight balances. The shaded band between them is the gap.

ECB deposit facility rate vs Irish bank rate on overnight business deposits, monthly
Month	ECB deposit facility rate (%)	Irish bank rate on overnight business deposits (%)	Gap (bps)
2000-01	2	0.09	191
2000-02	2.25	0.09	216
2000-03	2.5	0.14	236
2000-04	2.75	0.15	260
2000-05	2.75	0.15	260
2000-06	3.25	0.24	301
2000-07	3.25	0.26	299
2000-08	3.25	0.26	299
2000-09	3.5	0.26	324
2000-10	3.75	0.31	344
2000-11	3.75	0.32	343
2000-12	3.75	0.32	343
2001-01	3.75	0.32	343
2001-02	3.75	0.32	343
2001-03	3.75	0.32	343
2001-04	3.75	0.32	343
2001-05	3.5	0.24	326
2001-06	3.5	0.24	326
2001-07	3.5	0.24	326
2001-08	3.25	0.24	301
2001-09	2.75	0.16	259
2001-10	2.75	0.1	265
2001-11	2.25	0.07	218
2001-12	2.25	0.07	218
2002-01	2.25	0.07	218
2002-02	2.25	0.07	218
2002-03	2.25	0.07	218
2002-04	2.25	0.07	218
2002-05	2.25	0.07	218
2002-06	2.25	0.07	218
2002-07	2.25	0.07	218
2002-08	2.25	0.07	218
2002-09	2.25	0.07	218
2002-10	2.25	0.07	218
2002-11	2.25	0.07	218
2002-12	1.75	0.06	169
2003-01	1.75	0.35	140
2003-02	1.75	0.41	134
2003-03	1.5	0.33	117
2003-04	1.5	0.37	113
2003-05	1.5	0.34	116
2003-06	1	0.31	69
2003-07	1	0.37	63
2003-08	1	0.37	63
2003-09	1	0.32	68
2003-10	1	0.32	68
2003-11	1	0.36	64
2003-12	1	0.32	68
2004-01	1	0.29	71
2004-02	1	0.34	66
2004-03	1	0.35	65
2004-04	1	0.37	63
2004-05	1	0.39	61
2004-06	1	0.38	62
2004-07	1	0.37	63
2004-08	1	0.37	63
2004-09	1	0.38	62
2004-10	1	0.39	61
2004-11	1	0.39	61
2004-12	1	0.39	61
2005-01	1	0.41	59
2005-02	1	0.4	60
2005-03	1	0.36	64
2005-04	1	0.38	62
2005-05	1	0.36	64
2005-06	1	0.36	64
2005-07	1	0.37	63
2005-08	1	0.36	64
2005-09	1	0.41	59
2005-10	1	0.4	60
2005-11	1	0.44	56
2005-12	1.25	0.44	81
2006-01	1.25	0.46	79
2006-02	1.25	0.44	81
2006-03	1.5	0.52	98
2006-04	1.5	0.53	97
2006-05	1.5	0.51	99
2006-06	1.75	0.61	114
2006-07	1.75	0.58	117
2006-08	2	0.63	137
2006-09	2	0.72	128
2006-10	2.25	0.68	157
2006-11	2.25	0.69	156
2006-12	2.5	0.72	178
2007-01	2.5	0.73	177
2007-02	2.5	0.73	177
2007-03	2.75	0.91	184
2007-04	2.75	0.88	187
2007-05	2.75	0.97	178
2007-06	3	1.07	193
2007-07	3	1.01	199
2007-08	3	0.95	205
2007-09	3	0.94	206
2007-10	3	0.9	210
2007-11	3	0.92	208
2007-12	3	0.88	212
2008-01	3	0.9	210
2008-02	3	0.97	203
2008-03	3	0.94	206
2008-04	3	0.97	203
2008-05	3	0.95	205
2008-06	3	0.95	205
2008-07	3.25	0.97	228
2008-08	3.25	1.06	219
2008-09	3.25	1.01	224
2008-10	3.25	1.03	222
2008-11	2.75	0.97	178
2008-12	2	0.68	132
2009-01	1	0.71	29
2009-02	1	0.53	47
2009-03	0.5	0.4	10
2009-04	0.25	0.4	-15
2009-05	0.25	0.37	-12
2009-06	0.25	0.3	-5
2009-07	0.25	0.36	-11
2009-08	0.25	0.29	-4
2009-09	0.25	0.3	-5
2009-10	0.25	0.3	-5
2009-11	0.25	0.3	-5
2009-12	0.25	0.32	-7
2010-01	0.25	0.32	-7
2010-02	0.25	0.33	-8
2010-03	0.25	0.23	2
2010-04	0.25	0.23	2
2010-05	0.25	0.2	5
2010-06	0.25	0.27	-2
2010-07	0.25	0.36	-11
2010-08	0.25	0.28	-3
2010-09	0.25	0.23	2
2010-10	0.25	0.26	-1
2010-11	0.25	0.27	-2
2010-12	0.25	0.26	-1
2011-01	0.25	0.3	-5
2011-02	0.25	0.27	-2
2011-03	0.25	0.29	-4
2011-04	0.5	0.32	18
2011-05	0.5	0.32	18
2011-06	0.5	0.32	18
2011-07	0.75	0.33	42
2011-08	0.75	0.33	42
2011-09	0.75	0.32	43
2011-10	0.75	0.29	46
2011-11	0.5	0.29	21
2011-12	0.25	0.26	-1
2012-01	0.25	0.24	1
2012-02	0.25	0.23	2
2012-03	0.25	0.24	1
2012-04	0.25	0.25	0
2012-05	0.25	0.27	-2
2012-06	0.25	0.27	-2
2012-07	0	0.29	-29
2012-08	0	0.26	-26
2012-09	0	0.25	-25
2012-10	0	0.24	-24
2012-11	0	0.25	-25
2012-12	0	0.24	-24
2013-01	0	0.25	-25
2013-02	0	0.24	-24
2013-03	0	0.36	-36
2013-04	0	0.34	-34
2013-05	0	0.34	-34
2013-06	0	0.32	-32
2013-07	0	0.32	-32
2013-08	0	0.33	-33
2013-09	0	0.31	-31
2013-10	0	0.32	-32
2013-11	0	0.32	-32
2013-12	0	0.28	-28
2014-01	0	0.28	-28
2014-02	0	0.29	-29
2014-03	0	0.3	-30
2014-04	0	0.28	-28
2014-05	0	0.28	-28
2014-06	-0.1	0.3	-40
2014-07	-0.1	0.31	-41
2014-08	-0.1	0.31	-41
2014-09	-0.2	0.29	-49
2014-10	-0.2	0.28	-48
2014-11	-0.2	0.3	-50
2014-12	-0.2	0.31	-51
2015-01	-0.2	0.31	-51
2015-02	-0.2	0.3	-50
2015-03	-0.2	0.31	-51
2015-04	-0.2	0.25	-45
2015-05	-0.2	0.25	-45
2015-06	-0.2	0.25	-45
2015-07	-0.2	0.25	-45
2015-08	-0.2	0.23	-43
2015-09	-0.2	0.22	-42
2015-10	-0.2	0.23	-43
2015-11	-0.2	0.24	-44
2015-12	-0.3	0.22	-52
2016-01	-0.3	0.21	-51
2016-02	-0.3	0.21	-51
2016-03	-0.4	0.22	-62
2016-04	-0.4	0.21	-61
2016-05	-0.4	0.21	-61
2016-06	-0.4	0.22	-62
2016-07	-0.4	0.21	-61
2016-08	-0.4	0.2	-60
2016-09	-0.4	0.22	-62
2016-10	-0.4	0.21	-61
2016-11	-0.4	0.21	-61
2016-12	-0.4	0.03	-43
2017-01	-0.4	0.03	-43
2017-02	-0.4	0.02	-42
2017-03	-0.4	0.02	-42
2017-04	-0.4	0.01	-41
2017-05	-0.4	0.02	-42
2017-06	-0.4	0.02	-42
2017-07	-0.4	0.01	-41
2017-08	-0.4	0.02	-42
2017-09	-0.4	0.02	-42
2017-10	-0.4	0.01	-41
2017-11	-0.4	0.02	-42
2017-12	-0.4	0.01	-41
2018-01	-0.4	0.02	-42
2018-02	-0.4	0.01	-41
2018-03	-0.4	0.01	-41
2018-04	-0.4	0.01	-41
2018-05	-0.4	0.02	-42
2018-06	-0.4	0.02	-42
2018-07	-0.4	0.02	-42
2018-08	-0.4	0.02	-42
2018-09	-0.4	0.02	-42
2018-10	-0.4	0.01	-41
2018-11	-0.4	0.01	-41
2018-12	-0.4	0.01	-41
2019-01	-0.4	0.01	-41
2019-02	-0.4	0.01	-41
2019-03	-0.4	0.01	-41
2019-04	-0.4	0.01	-41
2019-05	-0.4	0.01	-41
2019-06	-0.4	0.01	-41
2019-07	-0.4	0.03	-43
2019-08	-0.4	0.03	-43
2019-09	-0.5	0.04	-54
2019-10	-0.5	0.03	-53
2019-11	-0.5	0.05	-55
2019-12	-0.5	0.04	-54
2020-01	-0.5	0.01	-51
2020-02	-0.5	0.02	-52
2020-03	-0.5	0.02	-52
2020-04	-0.5	0.02	-52
2020-05	-0.5	0.02	-52
2020-06	-0.5	0.02	-52
2020-07	-0.5	0.02	-52
2020-08	-0.5	0.03	-53
2020-09	-0.5	0.05	-55
2020-10	-0.5	0.05	-55
2020-11	-0.5	0.04	-54
2020-12	-0.5	0.01	-51
2021-01	-0.5	0.01	-51
2021-02	-0.5	0.01	-51
2021-03	-0.5	-0.08	-42
2021-04	-0.5	-0.08	-42
2021-05	-0.5	-0.05	-45
2021-06	-0.5	-0.05	-45
2021-07	-0.5	-0.05	-45
2021-08	-0.5	-0.05	-45
2021-09	-0.5	-0.11	-39
2021-10	-0.5	-0.09	-41
2021-11	-0.5	-0.08	-42
2021-12	-0.5	-0.09	-41
2022-01	-0.5	-0.12	-38
2022-02	-0.5	-0.11	-39
2022-03	-0.5	-0.12	-38
2022-04	-0.5	-0.12	-38
2022-05	-0.5	-0.11	-39
2022-06	-0.5	-0.11	-39
2022-07	0	-0.09	9
2022-08	0	0.03	-3
2022-09	0.75	0.03	72
2022-10	0.75	0.03	72
2022-11	1.5	0.04	146
2022-12	2	0.04	196
2023-01	2	0.04	196
2023-02	2.5	0.05	245
2023-03	3	0.05	295
2023-04	3	0.05	295
2023-05	3.25	0.08	317
2023-06	3.5	0.1	340
2023-07	3.5	0.1	340
2023-08	3.75	0.09	366
2023-09	4	0.11	389
2023-10	4	0.11	389
2023-11	4	0.12	388
2023-12	4	0.1	390
2024-01	4	0.17	383
2024-02	4	0.11	389
2024-03	4	0.1	390
2024-04	4	0.12	388
2024-05	4	0.14	386
2024-06	3.75	0.11	364
2024-07	3.75	0.14	361
2024-08	3.75	0.14	361
2024-09	3.5	0.12	338
2024-10	3.25	0.12	313
2024-11	3.25	0.11	314
2024-12	3	0.11	289
2025-01	3	0.1	290
2025-02	2.75	0.1	265
2025-03	2.5	0.07	243
2025-04	2.25	0.05	220
2025-05	2.25	0.05	220
2025-06	2	0.07	193
2025-07	2	0.07	193
2025-08	2	0.07	193
2025-09	2	0.07	193
2025-10	2	0.07	193
2025-11	2	0.07	193
2025-12	2	0.08	192
2026-01	2	0.06	194
2026-02	2	0.09	191
2026-03	2	0.09	191
2026-04	2	0.09	191
2026-05	2	0.1	190
2026-06	2.25	0.12	213
2026-07	2.25	0.12	213

Euro-area comparison: across the euro area, banks paid businesses 0.60% on overnight deposits in July 2026, a gap of 165 bps against the ECB rate. Ireland's gap is wider than the euro-area average.

Download CSV JSON feed Decision-by-decision timeline

Full data

Month	ECB rate	Irish business deposit	Gap
July 2026	2.25%	0.12%	213 bps
June 2026	2.25%	0.12%	213 bps
May 2026	2.00%	0.10%	190 bps
April 2026	2.00%	0.09%	191 bps
March 2026	2.00%	0.09%	191 bps
February 2026	2.00%	0.09%	191 bps
January 2026	2.00%	0.06%	194 bps
December 2025	2.00%	0.08%	192 bps
November 2025	2.00%	0.07%	193 bps
October 2025	2.00%	0.07%	193 bps
September 2025	2.00%	0.07%	193 bps
August 2025	2.00%	0.07%	193 bps
July 2025	2.00%	0.07%	193 bps
June 2025	2.00%	0.07%	193 bps
May 2025	2.25%	0.05%	220 bps
April 2025	2.25%	0.05%	220 bps
March 2025	2.50%	0.07%	243 bps
February 2025	2.75%	0.10%	265 bps
January 2025	3.00%	0.10%	290 bps
December 2024	3.00%	0.11%	289 bps
November 2024	3.25%	0.11%	314 bps
October 2024	3.25%	0.12%	313 bps
September 2024	3.50%	0.12%	338 bps
August 2024	3.75%	0.14%	361 bps
July 2024	3.75%	0.14%	361 bps
June 2024	3.75%	0.11%	364 bps
May 2024	4.00%	0.14%	386 bps
April 2024	4.00%	0.12%	388 bps
March 2024	4.00%	0.10%	390 bps
February 2024	4.00%	0.11%	389 bps
January 2024	4.00%	0.17%	383 bps
December 2023	4.00%	0.10%	390 bps
November 2023	4.00%	0.12%	388 bps
October 2023	4.00%	0.11%	389 bps
September 2023	4.00%	0.11%	389 bps
August 2023	3.75%	0.09%	366 bps
July 2023	3.50%	0.10%	340 bps
June 2023	3.50%	0.10%	340 bps
May 2023	3.25%	0.08%	317 bps
April 2023	3.00%	0.05%	295 bps
March 2023	3.00%	0.05%	295 bps
February 2023	2.50%	0.05%	245 bps
January 2023	2.00%	0.04%	196 bps
December 2022	2.00%	0.04%	196 bps
November 2022	1.50%	0.04%	146 bps
October 2022	0.75%	0.03%	72 bps
September 2022	0.75%	0.03%	72 bps
August 2022	0.00%	0.03%	-3 bps
July 2022	0.00%	-0.09%	9 bps
June 2022	-0.50%	-0.11%	-39 bps
May 2022	-0.50%	-0.11%	-39 bps
April 2022	-0.50%	-0.12%	-38 bps
March 2022	-0.50%	-0.12%	-38 bps
February 2022	-0.50%	-0.11%	-39 bps
January 2022	-0.50%	-0.12%	-38 bps
December 2021	-0.50%	-0.09%	-41 bps
November 2021	-0.50%	-0.08%	-42 bps
October 2021	-0.50%	-0.09%	-41 bps
September 2021	-0.50%	-0.11%	-39 bps
August 2021	-0.50%	-0.05%	-45 bps
July 2021	-0.50%	-0.05%	-45 bps
June 2021	-0.50%	-0.05%	-45 bps
May 2021	-0.50%	-0.05%	-45 bps
April 2021	-0.50%	-0.08%	-42 bps
March 2021	-0.50%	-0.08%	-42 bps
February 2021	-0.50%	0.01%	-51 bps
January 2021	-0.50%	0.01%	-51 bps
December 2020	-0.50%	0.01%	-51 bps
November 2020	-0.50%	0.04%	-54 bps
October 2020	-0.50%	0.05%	-55 bps
September 2020	-0.50%	0.05%	-55 bps
August 2020	-0.50%	0.03%	-53 bps
July 2020	-0.50%	0.02%	-52 bps
June 2020	-0.50%	0.02%	-52 bps
May 2020	-0.50%	0.02%	-52 bps
April 2020	-0.50%	0.02%	-52 bps
March 2020	-0.50%	0.02%	-52 bps
February 2020	-0.50%	0.02%	-52 bps
January 2020	-0.50%	0.01%	-51 bps
December 2019	-0.50%	0.04%	-54 bps
November 2019	-0.50%	0.05%	-55 bps
October 2019	-0.50%	0.03%	-53 bps
September 2019	-0.50%	0.04%	-54 bps
August 2019	-0.40%	0.03%	-43 bps
July 2019	-0.40%	0.03%	-43 bps
June 2019	-0.40%	0.01%	-41 bps
May 2019	-0.40%	0.01%	-41 bps
April 2019	-0.40%	0.01%	-41 bps
March 2019	-0.40%	0.01%	-41 bps
February 2019	-0.40%	0.01%	-41 bps
January 2019	-0.40%	0.01%	-41 bps
December 2018	-0.40%	0.01%	-41 bps
November 2018	-0.40%	0.01%	-41 bps
October 2018	-0.40%	0.01%	-41 bps
September 2018	-0.40%	0.02%	-42 bps
August 2018	-0.40%	0.02%	-42 bps
July 2018	-0.40%	0.02%	-42 bps
June 2018	-0.40%	0.02%	-42 bps
May 2018	-0.40%	0.02%	-42 bps
April 2018	-0.40%	0.01%	-41 bps
March 2018	-0.40%	0.01%	-41 bps
February 2018	-0.40%	0.01%	-41 bps
January 2018	-0.40%	0.02%	-42 bps
December 2017	-0.40%	0.01%	-41 bps
November 2017	-0.40%	0.02%	-42 bps
October 2017	-0.40%	0.01%	-41 bps
September 2017	-0.40%	0.02%	-42 bps
August 2017	-0.40%	0.02%	-42 bps
July 2017	-0.40%	0.01%	-41 bps
June 2017	-0.40%	0.02%	-42 bps
May 2017	-0.40%	0.02%	-42 bps
April 2017	-0.40%	0.01%	-41 bps
March 2017	-0.40%	0.02%	-42 bps
February 2017	-0.40%	0.02%	-42 bps
January 2017	-0.40%	0.03%	-43 bps
December 2016	-0.40%	0.03%	-43 bps
November 2016	-0.40%	0.21%	-61 bps
October 2016	-0.40%	0.21%	-61 bps
September 2016	-0.40%	0.22%	-62 bps
August 2016	-0.40%	0.20%	-60 bps
July 2016	-0.40%	0.21%	-61 bps
June 2016	-0.40%	0.22%	-62 bps
May 2016	-0.40%	0.21%	-61 bps
April 2016	-0.40%	0.21%	-61 bps
March 2016	-0.40%	0.22%	-62 bps
February 2016	-0.30%	0.21%	-51 bps
January 2016	-0.30%	0.21%	-51 bps
December 2015	-0.30%	0.22%	-52 bps
November 2015	-0.20%	0.24%	-44 bps
October 2015	-0.20%	0.23%	-43 bps
September 2015	-0.20%	0.22%	-42 bps
August 2015	-0.20%	0.23%	-43 bps
July 2015	-0.20%	0.25%	-45 bps
June 2015	-0.20%	0.25%	-45 bps
May 2015	-0.20%	0.25%	-45 bps
April 2015	-0.20%	0.25%	-45 bps
March 2015	-0.20%	0.31%	-51 bps
February 2015	-0.20%	0.30%	-50 bps
January 2015	-0.20%	0.31%	-51 bps
December 2014	-0.20%	0.31%	-51 bps
November 2014	-0.20%	0.30%	-50 bps
October 2014	-0.20%	0.28%	-48 bps
September 2014	-0.20%	0.29%	-49 bps
August 2014	-0.10%	0.31%	-41 bps
July 2014	-0.10%	0.31%	-41 bps
June 2014	-0.10%	0.30%	-40 bps
May 2014	0.00%	0.28%	-28 bps
April 2014	0.00%	0.28%	-28 bps
March 2014	0.00%	0.30%	-30 bps
February 2014	0.00%	0.29%	-29 bps
January 2014	0.00%	0.28%	-28 bps
December 2013	0.00%	0.28%	-28 bps
November 2013	0.00%	0.32%	-32 bps
October 2013	0.00%	0.32%	-32 bps
September 2013	0.00%	0.31%	-31 bps
August 2013	0.00%	0.33%	-33 bps
July 2013	0.00%	0.32%	-32 bps
June 2013	0.00%	0.32%	-32 bps
May 2013	0.00%	0.34%	-34 bps
April 2013	0.00%	0.34%	-34 bps
March 2013	0.00%	0.36%	-36 bps
February 2013	0.00%	0.24%	-24 bps
January 2013	0.00%	0.25%	-25 bps
December 2012	0.00%	0.24%	-24 bps
November 2012	0.00%	0.25%	-25 bps
October 2012	0.00%	0.24%	-24 bps
September 2012	0.00%	0.25%	-25 bps
August 2012	0.00%	0.26%	-26 bps
July 2012	0.00%	0.29%	-29 bps
June 2012	0.25%	0.27%	-2 bps
May 2012	0.25%	0.27%	-2 bps
April 2012	0.25%	0.25%	0 bps
March 2012	0.25%	0.24%	1 bps
February 2012	0.25%	0.23%	2 bps
January 2012	0.25%	0.24%	1 bps
December 2011	0.25%	0.26%	-1 bps
November 2011	0.50%	0.29%	21 bps
October 2011	0.75%	0.29%	46 bps
September 2011	0.75%	0.32%	43 bps
August 2011	0.75%	0.33%	42 bps
July 2011	0.75%	0.33%	42 bps
June 2011	0.50%	0.32%	18 bps
May 2011	0.50%	0.32%	18 bps
April 2011	0.50%	0.32%	18 bps
March 2011	0.25%	0.29%	-4 bps
February 2011	0.25%	0.27%	-2 bps
January 2011	0.25%	0.30%	-5 bps
December 2010	0.25%	0.26%	-1 bps
November 2010	0.25%	0.27%	-2 bps
October 2010	0.25%	0.26%	-1 bps
September 2010	0.25%	0.23%	2 bps
August 2010	0.25%	0.28%	-3 bps
July 2010	0.25%	0.36%	-11 bps
June 2010	0.25%	0.27%	-2 bps
May 2010	0.25%	0.20%	5 bps
April 2010	0.25%	0.23%	2 bps
March 2010	0.25%	0.23%	2 bps
February 2010	0.25%	0.33%	-8 bps
January 2010	0.25%	0.32%	-7 bps
December 2009	0.25%	0.32%	-7 bps
November 2009	0.25%	0.30%	-5 bps
October 2009	0.25%	0.30%	-5 bps
September 2009	0.25%	0.30%	-5 bps
August 2009	0.25%	0.29%	-4 bps
July 2009	0.25%	0.36%	-11 bps
June 2009	0.25%	0.30%	-5 bps
May 2009	0.25%	0.37%	-12 bps
April 2009	0.25%	0.40%	-15 bps
March 2009	0.50%	0.40%	10 bps
February 2009	1.00%	0.53%	47 bps
January 2009	1.00%	0.71%	29 bps
December 2008	2.00%	0.68%	132 bps
November 2008	2.75%	0.97%	178 bps
October 2008	3.25%	1.03%	222 bps
September 2008	3.25%	1.01%	224 bps
August 2008	3.25%	1.06%	219 bps
July 2008	3.25%	0.97%	228 bps
June 2008	3.00%	0.95%	205 bps
May 2008	3.00%	0.95%	205 bps
April 2008	3.00%	0.97%	203 bps
March 2008	3.00%	0.94%	206 bps
February 2008	3.00%	0.97%	203 bps
January 2008	3.00%	0.90%	210 bps
December 2007	3.00%	0.88%	212 bps
November 2007	3.00%	0.92%	208 bps
October 2007	3.00%	0.90%	210 bps
September 2007	3.00%	0.94%	206 bps
August 2007	3.00%	0.95%	205 bps
July 2007	3.00%	1.01%	199 bps
June 2007	3.00%	1.07%	193 bps
May 2007	2.75%	0.97%	178 bps
April 2007	2.75%	0.88%	187 bps
March 2007	2.75%	0.91%	184 bps
February 2007	2.50%	0.73%	177 bps
January 2007	2.50%	0.73%	177 bps
December 2006	2.50%	0.72%	178 bps
November 2006	2.25%	0.69%	156 bps
October 2006	2.25%	0.68%	157 bps
September 2006	2.00%	0.72%	128 bps
August 2006	2.00%	0.63%	137 bps
July 2006	1.75%	0.58%	117 bps
June 2006	1.75%	0.61%	114 bps
May 2006	1.50%	0.51%	99 bps
April 2006	1.50%	0.53%	97 bps
March 2006	1.50%	0.52%	98 bps
February 2006	1.25%	0.44%	81 bps
January 2006	1.25%	0.46%	79 bps
December 2005	1.25%	0.44%	81 bps
November 2005	1.00%	0.44%	56 bps
October 2005	1.00%	0.40%	60 bps
September 2005	1.00%	0.41%	59 bps
August 2005	1.00%	0.36%	64 bps
July 2005	1.00%	0.37%	63 bps
June 2005	1.00%	0.36%	64 bps
May 2005	1.00%	0.36%	64 bps
April 2005	1.00%	0.38%	62 bps
March 2005	1.00%	0.36%	64 bps
February 2005	1.00%	0.40%	60 bps
January 2005	1.00%	0.41%	59 bps
December 2004	1.00%	0.39%	61 bps
November 2004	1.00%	0.39%	61 bps
October 2004	1.00%	0.39%	61 bps
September 2004	1.00%	0.38%	62 bps
August 2004	1.00%	0.37%	63 bps
July 2004	1.00%	0.37%	63 bps
June 2004	1.00%	0.38%	62 bps
May 2004	1.00%	0.39%	61 bps
April 2004	1.00%	0.37%	63 bps
March 2004	1.00%	0.35%	65 bps
February 2004	1.00%	0.34%	66 bps
January 2004	1.00%	0.29%	71 bps
December 2003	1.00%	0.32%	68 bps
November 2003	1.00%	0.36%	64 bps
October 2003	1.00%	0.32%	68 bps
September 2003	1.00%	0.32%	68 bps
August 2003	1.00%	0.37%	63 bps
July 2003	1.00%	0.37%	63 bps
June 2003	1.00%	0.31%	69 bps
May 2003	1.50%	0.34%	116 bps
April 2003	1.50%	0.37%	113 bps
March 2003	1.50%	0.33%	117 bps
February 2003	1.75%	0.41%	134 bps
January 2003	1.75%	0.35%	140 bps
December 2002	1.75%	0.06%	169 bps
November 2002	2.25%	0.07%	218 bps
October 2002	2.25%	0.07%	218 bps
September 2002	2.25%	0.07%	218 bps
August 2002	2.25%	0.07%	218 bps
July 2002	2.25%	0.07%	218 bps
June 2002	2.25%	0.07%	218 bps
May 2002	2.25%	0.07%	218 bps
April 2002	2.25%	0.07%	218 bps
March 2002	2.25%	0.07%	218 bps
February 2002	2.25%	0.07%	218 bps
January 2002	2.25%	0.07%	218 bps
December 2001	2.25%	0.07%	218 bps
November 2001	2.25%	0.07%	218 bps
October 2001	2.75%	0.10%	265 bps
September 2001	2.75%	0.16%	259 bps
August 2001	3.25%	0.24%	301 bps
July 2001	3.50%	0.24%	326 bps
June 2001	3.50%	0.24%	326 bps
May 2001	3.50%	0.24%	326 bps
April 2001	3.75%	0.32%	343 bps
March 2001	3.75%	0.32%	343 bps
February 2001	3.75%	0.32%	343 bps
January 2001	3.75%	0.32%	343 bps
December 2000	3.75%	0.32%	343 bps
November 2000	3.75%	0.32%	343 bps
October 2000	3.75%	0.31%	344 bps
September 2000	3.50%	0.26%	324 bps
August 2000	3.25%	0.26%	299 bps
July 2000	3.25%	0.26%	299 bps
June 2000	3.25%	0.24%	301 bps
May 2000	2.75%	0.15%	260 bps
April 2000	2.75%	0.15%	260 bps
March 2000	2.50%	0.14%	236 bps
February 2000	2.25%	0.09%	216 bps
January 2000	2.00%	0.09%	191 bps

Methodology: exactly which numbers these are

Both series come from the European Central Bank's Data Portal, the official statistical source. Nothing on this page is estimated, modelled or written by software that guesses: every figure is read from the ECB's published statistics and the only processing is the arithmetic described below.

The ECB rate

We use the deposit facility rate (ECB series FM.B.U2.EUR.4F.KR.DFR.LEV), the rate banks earn for leaving cash with the ECB overnight. It is the floor of the ECB's rate corridor and the cleanest benchmark for what a bank could earn on the same money instead of paying it to you.

The Irish business deposit rate

We use the official rate Irish banks pay non-financial corporations (trading businesses, not households or financial firms) on overnight deposits, meaning instant-access balances such as a current or demand deposit account. This is ECB MFI Interest Rate (MIR) series MIR.M.IE.B.L21.A.R.A.2240.EUR.N, compiled by the Central Bank of Ireland from the returns of banks resident in Ireland and published through the ECB Data Portal. The series is labelled "new business", but because an overnight balance can be moved or repriced at any time, the ECB measures it across all such balances at month-end, so it reflects what businesses actually earned that month, not just newly opened accounts. We deliberately compare overnight with overnight: instant-access business money against the ECB's overnight rate. A separate series on this page tracks new fixed-term business deposits (MIR.M.IE.B.L22.A.R.A.2240.EUR.N) for context; fixed-term rates follow the ECB much more closely.

How the two series are lined up

The deposit series is monthly. The ECB rate only changes on Governing Council decision dates, so a single month can straddle two policy rates. For each month we use the ECB rate in effect on the last day of that month. The gap is then simply the ECB rate minus the deposit rate, expressed in basis points (100 bps = 1 percentage point). This rule is applied by code on every refresh and is never adjusted by hand.

Pass-through

Pass-through is reported two ways. The cycle figure (in the cards above) asks how much of the ECB's current run of moves reached business deposits: we take the last unbroken run of same-direction ECB decisions (hiking since 2026-06-17), compare the latest month with the last full month before that run began (May 2026), and divide the change in the deposit rate by the change in the ECB rate. The level figure is the deposit rate as a share of the ECB rate in the latest month (currently 5.3%).

Revisions and missing months

Official figures are occasionally revised. When that happens we overwrite the affected month and log the change in the revisions section of this page and in the JSON feed. The Irish monthly figures are published roughly five to seven weeks after the month ends; until a month is released it is simply absent, shown as awaiting release, and never filled in with the previous month's value.

Refresh schedule

An automated job pulls both series from the ECB API twice a month, timed around the ECB's publication window for the monthly interest-rate statistics, and again shortly after scheduled Governing Council decisions take effect. Each refresh is reviewed before it goes live.

Sources

ECB deposit facility rate - ECB Data Portal (FM.B.U2.EUR.4F.KR.DFR.LEV)Retrieved 2026-09-10
Irish bank rate on overnight business deposits - ECB Data Portal MIR (MIR.M.IE.B.L21.A.R.A.2240.EUR.N)Retrieved 2026-09-10
Euro-area bank rate on overnight business deposits - ECB Data Portal MIR (MIR.M.U2.B.L21.A.R.A.2240.EUR.N)Retrieved 2026-09-10
Irish bank rate on new fixed-term business deposits - ECB Data Portal MIR (MIR.M.IE.B.L22.A.R.A.2240.EUR.N)Retrieved 2026-09-10

Source: European Central Bank (ECB Data Portal). Irish series compiled by the Central Bank of Ireland. Reused under the ECB reuse policy. Cite this page freely with attribution to Vendors.ie. This page is informational and not financial advice.