European Central Bank Deposit Rate
Event Date: Thursday, July 22, 2021
Event Time: 11:45 CET
Updated Wednesday, July 14, 2021
The European Central Bank lowered refinancing rates to 0.0% in 2016. They have kept them unchanged since then and are expected to keep them on hold again this time, while the deposit rates remained negative at -0.40% for a long time. But, we saw a deposit rate cut by 0.10%, after the dovish remarks we have heard from the ECB in the last meetings. The ECB has tried to play down the economic rebound after the reopening, following the second lockdown, but they are getting forced to accept the improved reality, so we have to keep an eye on them for such remarks, which would send the Euro higher. Please follow us for live coverage in real time of the event by experienced analysts.
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About European Central Bank Deposit Rate
The Main Refinancing Rate is also called the Minimum Bid Rate or the Repo Rate. This is the interest rate at which the European Central Bank (ECB) refinances the operations that provide the major part of liquidity to the secondary banking system. The ECB decides eight times a year on interest rates. The decision is made by six members of the ECB executive board and fifteen members of the Eurozone Central Banks. The decision is usually anticipated and therefore priced in by the market. The ECB’s press conference statement that usually follows the main refinancing rate get the most attention since the change in the refinancing rate is already history once it is moved. Although, there are times when the rate is unexpected and the market reacts violently.