FRANKFURT (MNI) – The European Central Bank announced Tuesday that
it is launching a liquidity-absorbing fine-tuning operation today at
13:00 GMT.
The operation takes the form of a variable rate tender with a
maximum bid rate of 1.00%, without a pre-set limit, the ECB said.
The bank is carrying out the measure to drain a “large positive
liquidity imbalance” that is expected today, the last day of the reserve
maintenance period, the bank explained.
–Frankfurt Bureau tel.: +49-69-720 142, email: frankfurt@marketnews.com
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