ECB carries out three-month tender

The European Central Bank injected €75 billion into the money markets on Wednesday as part of a three-month refinancing operation.

Commercial banks placed bids for €139 billion, meaning that the central bank met 54% of requests. The central bank's operations tend to satisfy between 67% and 77% of requests.

The marginal rate, which is the lowest rate at which commercial banks secure funds, was 4.35% - down 21 basis points from the 30 August tender, but still 35 basis points above the ECB's bas

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