European Central Bank - eurosystem
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Monetary policy glossary

key ECB interest rates

The interest rates that reflect the stance of the monetary policy of the ECB and that are set by the Governing Council. The key ECB interest rates are: the interest rate on the main refinancing operations (the fixed rate in fixed rate tenders and the minimum bid rate in variable rate tenders); the interest rate on the marginal lending facility; and the interest rate on the deposit facility.