Government Council for Foreign Affairs and Defence

ECB adjusts remuneration of minimum reserves

Retrieved on: 
Friday, July 28, 2023

- PRESS RELEASE

Key Points: 
  • - PRESS RELEASE
    ECB adjusts remuneration of minimum reserves
    27 July 2023
    - Minimum reserves to be remunerated at 0%
    - Change preserves the effectiveness and improves the efficiency of monetary policy
    The Governing Council of the European Central Bank (ECB) today decided to set the remuneration of minimum reserves at 0%.
  • Minimum reserves are reserve balances that credit institutions are required to hold with their Eurosystem national central bank on average over a maintenance period.
  • In October last year, the Governing Council decided to reduce the remuneration of minimum reserves from the rate on the main refinancing operations (MRO rate) to the DFR.
  • Notes
    - The ECB has published explanations of minimum reserves and the deposit facility rate.

Luis de Guindos: The inflation outlook and monetary policy in the euro area

Retrieved on: 
Saturday, July 8, 2023

    The most recent dataset covers ratings data until December 2022.

Key Points: 
  •     The most recent dataset covers ratings data until December 2022.
  • CEREP provides information on credit ratings issued by Credit Rating Agencies (CRAs) which are either registered or certified in the European Union.
Sarah Edwards 

Christine Lagarde: Remarks at G30 dinner

Retrieved on: 
Monday, June 19, 2023

- SPEECH

Key Points: 
  • - SPEECH
    Remarks at G30 dinner
    Remarks by Christine Lagarde, President of the ECB, at the G30 dinner in Amsterdam
    Amsterdam, 16 June 2023
    Inflation has been coming down, with the latest data showing a broad-based decline.
  • This revision is due to past upward surprises in inflation and the implications of the robust labour market for the speed of disinflation.
  • In this context, labour productivity growth will be lower and rising unit labour costs are likely to put upward pressure on inflation.
  • The Governing Council also confirmed that it will discontinue the reinvestments under the asset purchase programme as of July 2023.