European Central Bank Headquarters
European Central Bank Main Refinancing Rate
The First Rate Hike to Be Postponed Further
Starts Thursday, June 6, 2019 at 11:45
Updated Saturday, June 1, 2019
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 remain negative at -0.40%. For this reason, the attention will turn to the press conference which will begin 45 minutes after the rates decision is released. After some recent comments, interest rates are expected to remain unchanged for a prolonged period. Please follow us for live coverage in real time of the event and the impact it might have on the currency by experienced analysts.
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About European Central Bank Main Refinancing 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.