Abstract
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.
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© 2007 Physica-Verlag Heidelberg
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(2007). Stylized Facts and First Explanations. In: The Design of the Eurosystem’s Monetary Policy Instruments. Contributions to Economics. Physica-Verlag HD. https://doi.org/10.1007/978-3-7908-1978-6_3
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DOI: https://doi.org/10.1007/978-3-7908-1978-6_3
Publisher Name: Physica-Verlag HD
Print ISBN: 978-3-7908-1977-9
Online ISBN: 978-3-7908-1978-6
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