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| Country: |
Euro Zone
| | Definition: |
Refinancing Tender Rate
| | Description: |
Refinancing Tender Rate is the possibly least interest rate for funds attracting claims in ECB tender. Every two weeks the tender is held for funds investment, which is necessary for liquidity support in money system. Refinancing tender rate is the main European interest rate (12). The ECB set the higher inflationary edge at 2. If the consumer prices grow above 2 per year, interest rates increase may be expected.
| | Influence: |
High rates decrease the consumer lending growth ratio and trigger savings growth, which causes economic growth slowdown. Herewith, expectation of the interest rates increase usually causes «boom» of consumer lending. The rates growth usually leads to the growth of capital inflow into the country and to the national currency growth in the mid-term perspective. If the rates growth isn't based on high economy growth ratio, it may lead to the stagnation of economy and negative influence on markets in the long-term perspective.
| | Market Importance: |
| | Released: |
Released monthly, usually on the first Thursday of the month at 11:45 GMT. ECB's chairman press-briefing starts at 12:30 GMT.
| | Source: |
The European Central Bank
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