Overview
Key Statistics
A target interest rate set by the central bank in its efforts to influence short-term interest rates as part of its monetary policy strategy. This indicator shows the new target interest rate on the date the new rate was announced. Following the announcement by the Governing Council of the European Central Bank on March 13th 2024, the Main Refinancing Operations Rate (MRO) has been adjusted in order to reduce the spread between the MRO and the Deposit Facility Rate to 15 basis points (from its current spread of 50 basis points).<P> Additionally, the rate on the Marginal Lending Facility (MLF) has been adjusted to preserve the current spread with the MRO on its current level of 25 basis points.<P>This changes are effective from September 18th, 2024.<P>For further details, please see the statement in: {https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.pr240313~807e240020.en.ht ml#:~:text=The%20rate%20on%20the%20MROs%20will,in%20short%2Dterm%20money%20marke t%20rates}.<P>The main refinancing rate is the rate for the Eurosystem's regular open market operations (in the form of a reverse transaction) for the purpose of providing the banking system with the amount of liquidity that the former deems to be appropriate. Main refinancing operations are conducted through weekly standard tenders (in which banks can bid for liquidity) and normally have a maturity of one week. <BR>USE AS A FINANCIAL BENCHMARK MAY BE RESTRICTED. SEE {DOCS #2084680<GO>}.