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GC To "Regularly Assess" How TLTRO Repayments Impact Mon Pol

ECB

Also a note on TLTRO repayments in the monetary policy decision press release, about which Lagarde will no doubt be asked to elaborate upon at the press conference - particularly how it impacts upon the ECB's outlook for excess liquidity and balance sheet policy in general:

  • "As banks are repaying the amounts borrowed under the targeted longer-term refinancing operations, the Governing Council will regularly assess how targeted lending operations are contributing to its monetary policy stance."
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