one-year liquidity

Ralph Atkins

Jean-Claude Trichet, European Central Bank president, has just announced the next – and last – offer of unlimited 12-month liquidity will be at an interest rate linked to future changes in the main policy rate. I blogged on the attractiveness of such a move yesterday. Mr Trichet insisted the move sent no signals about a future tightening of monetary policy. More on ft.com later…

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Ralph Atkins

An aside from Mr Trichet leads Ralph to wonder how the ECB is planning to price its December one-year liquidity offering – there is plenty of scope for the Bank to send the wrong signals Read more