The Governing Council of the European Central Bank (ECB) today decided on key parameters of the new series of targeted longer-term refinancing operations (TLTRO III), including the interest rates that will be charged. The quarterly operations, first announced in March, will help preserve favourable bank lending conditions and support the accommodative stance of monetary policy. They will start in September 2019 and end in March 2021, and have a maturity of two years each. The interest rate for each operation will be set at a level of 10 basis points above the average rate applied to the Eurosystem’s main refinancing ... (full story)