The paper aims to determine to what extent the macroeconomic developments in Europe in 2020-2021 has affected the desirable interest rates determined by the Taylor rule from the perspective of countries that adopted the euro and, for comparison, the Czech Republic. European Central Bank sets uniform interest rates applicable throughout the euro area, but there are persistent differences between its members macroeconomic differences between its members, so the ECB's announced rates may not follow the Taylor rule to suit all euro area Member States. A correlation analysis using data from 14 countries showed euro area and the Czech Republic for the period 2003-2021 that the correlation of Taylor interest rates of euro area countries with the mean of the euro area-wide Taylor rates was very high in most cases, even when including the pandemic years 2020-2021, while base rates ECB interest rates over the period 2003-2021 were mostly less in line with the interest rate needs of individual euro area countries, or the relationship was not statistically significant.