Series: IMF Working Papers
Author(s): William Arrata , Benoit Nguyen , Imene Rahmouni-Rousseau , and Miklos Vari
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 07 December 2018
Keywords: Interest rates, Monetary policy, Money markets, Central banks and their policies, Central banks and their policies, Repurchase agreements, Assets, Specialness, repo market, asset purchases
Most short-term interest rates in the Euro area are below the European Central Bank deposit facility rate, the rate at which the central bank remunerates banks' excess reserves. This unexpected development coincide...