Stylized Facts and First Explanations

Part of the Contributions to Economics book series (CE)


The Eurosystem aims at steering the interbank money market rates in the euro area, the EONIA is its operational target. Figure 3.1 shows that the EONIA has tracked closely the MRO-rate, i.e. the ECB policy rate, so that from this point of view the Eurosystem’s operational framework has performed well.


Interest Rate Central Bank Euro Area Stylize Fact European Central 
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Copyright information

© Physica-Verlag Heidelberg 2007

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