Spain central bank rate holds at 2.5% in October 2026

Spain's central bank policy rate stood at 2.5% in October 2026, according to the Banco de España. The rate was the same in September 2026, also 2.5%, so it did not move between those 2 months. Housing Market Group's calculation from Banco de España figures puts the change between September 2026 and October 2026 at 0 percentage points.

The October level is above where the rate stood during the summer. The Banco de España recorded a rate of 2.25% in June 2026, July 2026 and August 2026, before the move to 2.5% in September 2026. The rate was also higher than a year earlier. It was 2.0% in October 2025, and HMG calculates that it rose by 0.5 percentage points between October 2025 and October 2026.

Several other countries in HMG's data for October 2026 had the same rate as Spain. Germany's rate was also 2.5%, according to the Deutsche Bundesbank, and HMG's calculation shows it likewise rose by 0.5 percentage points between October 2025 and October 2026. Canada's rate was 2.5% as well, according to the Bank of Canada, but its increase over that period was smaller, at 0.25 percentage points.

Other countries recorded higher rates in October 2026. The Reserve Bank of Australia's rate was 4.6%, up 1 percentage point on October 2025 by HMG's calculation. The Bank of England's rate was 3.75%, and it fell by 0.25 percentage points between October 2025 and October 2026. Bank Indonesia's rate stood at 5.75% in October 2026. In Malaysia, Bank Negara Malaysia's rate was 2.75% in October 2026, with a change of 0 percentage points on a year earlier.

HMG also ranked the countries in this sheet by how much their policy rate changed between October 2025 and October 2026. In this ranking, 1 marks the largest change and a fall counts as a negative change. Spain placed 3 of 6. Its rate rose over the period, but by less than Australia's increase of 1 percentage point.

Overall, the Banco de España figures show a rate that held steady in October 2026 after it increased in September 2026. That leaves it above its summer level and above its October 2025 level. Policy rates affect borrowing costs across the economy, including the cost of mortgages, which is why HMG tracks them alongside housing market indicators.