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ECB Leans Against Expansion Report

  • In response to an email request, the ECB lean against this morning Expansion report, writing that the report misrepresents the Money Market Contact Group's role, adding that the group isn't advisory to the ECB and doesn't provide insight into the central bank's intentions - although they stop short of outright denying that any such tool is under consideration.
  • Follows the report in Spanish press that the ECB was considering adding a 4th policy rate to its existing slate of three (refinancing, deposit, marginal lending).
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