ECB Survey of Monetary Analysts - March 2026

• Note, the survey period was between March 2nd to 5th. 
• Survey shows the medium Deposit Facility Rate holding at 2% in the long term. 
• Survey shows 2026 HICP at 2.0% Y/Y; 2027 2.0%; 2028 2.0%.

The ECB's survey suggests that monetary analysts expect the Deposit Facility Rate to remain steady at 2% over the long term. This aligns inflation expectations at a consistent 2.0% through 2028, implying that markets may not anticipate aggressive rate changes, reinforcing the belief in a stable monetary policy environment. As a result, this could lead to muted movements in fixed income and influence the EUR, as traders may recalibrate their outlook on interest rates and inflation dynamics.