Look for:

Our offer for

Research Detail

2024/03/14 / Erste Group Research

ECB provides itself with more flexibility

The ECB has completed the review of the operational framework for implementing monetary policy announced at the end of 2022 and publicized a number of changes, but also the retention of some parameters.

The ECB is thus preparing for the time after the current surplus liquidity has been reduced, which should be the case in a few years' time.

A future expansion of the range of instruments is planned via structural longer-term refinancing transactions and a structural securities portfolio.

Banks are likely to have been relieved by the decision to leave the minimum reserve ratio at 1%.

PDF Download Download PDF (152kB)

General information

AuthorErste Group Research
Product nameCredit News
Topic in focusMacro/ Fixed income
Economy in focusEurozone
Currency in focusEuro
Sector in focus-