...Since the onset of financial market turmoil in August #### the European Central Bank (ECB), in line with other major central banks, has significantly expanded its term liquidity management operations. With market turmoil resulting in diminished liquidity in interbank markets and greater volatility in banks demand for short\##term funds, the ECB has been faced with balancing the challenges of facilitating financial stability and promoting orderly conditions in the interbank markets, with its core aim of achieving its inflation targets via its monetary policy. This has led the ECB to substantially expand its provision of term liquidity, in line with the increasing scarcity of alternative wholesale funding s ources. ...

Report Type: Special Report
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