Minimum Bid Rate
Also known as the main refinancing rate, the minimum bid rate is the European Central Bank’s current lowest limit for refinancing operations.
It is the main one of three interest rates set by the ECB, including the rates on overnight deposits and overnight credit. Minimum bid rate announcements are one of the most important economic indicators coming out of the eurozone.
Even though the actual rate itself is usually priced into the market, the ECB press conference that follows its announcement can be a very volatile time for euro markets. This is because traders are hanging off every word of the ECB president, trying to get a view on his or her sentiment on the future prospects of the European economy.