FRANKFURT, Feb 7 (Reuters) - The European Central Bank
said on Tuesday it would cut the maximum rate it pays on
deposits held by governments to give them an incentive to
redeploy that cash into the financial system.
Starting on May 1, the ECB will apply a 20 basis-points
discount to the Euro Short-Term Rate (ESTR), which is currently
the ceiling rate on government deposits.
(Reporting by Francesco Canepa, editing by Ed Osmond)
004906975651247; Reuters Messaging:
francesco.canepa.thomsonreuters.com@reuters.net))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.