ECB to publish new reference rate in October

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The European Central Bank announced that it will start publishing the new short-term reference rate for the euro on October 2, as part of the process of replacing the current short-term reference rate.

The announcement marks significant progress towards the ECB’s goal of replacing the euro overnight index average, or Eonia, with the new rate. The replacement process had been marked by a number of delays, as the working group has made slower progress than it initially anticipated.

Following the

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