Eurosystem official rates

The official interest rates of the Eurosystem, i.e. the interest rate on the main refinancing operations, the rate on the marginal lending facility and the rate on the deposit facility are the key instruments for the implementation of the monetary policy and for the signalling of the monetary policy stance. The recourse to these instruments plays an important role in the formation of the short-term interest rates in the euro area interbank money market, such as EURIBOR and EONIA rates.