ECB Will Switch to Variable Rate on Three-Month Cash Offers
Written on March 6, 2010
The European Central Bank said its offerings of three-month cash will return to variable interest rates on April 28. President Jean-Claude Trichet made the announcement at a press conference in Frankfurt.
“Amounts will be set with the aim of ensuring smooth conditions in money markets” and avoiding “significant spreads” between the ECB’s benchmark rate and the rate at which money is alloted, Trichet said freecreditscore. The benchmark rate serves as the minimum bid rate.
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