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Refinancing Tender Rate is the possibly least interest rate for funds attracting claims in the tender of the European Central Bank. Every two weeks the ECB holds a tender for funds investment, which is necessary for liquidity support in money system.
High interest rates reduce the growth of consumer lending and stimulate the growth of savings, which leads to slower economic growth. The growth of rates usually leads to an increase in capital inflows and the growth of the national currency in the medium term, however, if growth rates are not based on high rates of economic growth, it could lead to economic stagnation and negative impact on the currency markets in the long term.
- Release Frequency: monthly.
- Release Schedule: 11:45 GMT, usually on the first Thursday of the month.
- Source: The European Central Bank.