Monetary Policy Glossary

Monetary Policy Glossary

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Fine-tuning operation 
An open market operation executed by the Eurosystem to deal with unexpected liquidity fluctuations in the market. The periodicity and maturity of these operations are not regulated.
Fixed rate tender 
Tender procedure, in which the interest rate is specified in advance by the central bank and in which participating counterparties bid the amount of money they want to transact at that interest rate.
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