Eurozone money market spike driven by French bank contingency tests

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Eurozone money market spike driven by French...
 © In-Cyprus 2020
A sudden jump in the European Central Bank’s new ESTR interest rate benchmark this week was triggered by French banks bidding for extra cash as part of contingency tests, two sources familiar with the bloc’s money markets said on Friday.

The euro short-term rate, ESTR, spiked around 3 basis points to -0.511% at Wednesday’s fixing from the previous day . It had fallen back to -0.542% at Thursday’s fixing.

The spike raised eyebrows in euro zone bond and money markets, where investors are assessing how the ECB’s overnight rate responds to...


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This article was automatically added to our system 22-11-2019

Eurozone money market spike driven by French bank contingency tests


The contents of this article including any associated images are © In-Cyprus 2020
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Article Tags: eurozone, money, market, spike, driven, french, contingency, tests,