# Fine-tuning operations, monetary policy (monetary fine-tuning operations)

- Canonical URL: https://www.gerhardmerk.de/fine-tuning-operations-monetary-policy-monetary-fine-tuning-operations
- Post ID: 587733
- Modified: 2023-07-25T20:59:44+00:00
- Language: en

## Definition

Irregular open market operations conducted by the ECB as the central bank, mainly aimed at smoothing unexpected liquidity fluctuations in the market. Accordingly, liquidity-providing fine-tuning instruments (reverse transactions, foreign exchange swaps, outright transactions) and liquidity-absorbing fine-tuning operations (reverse transactions, foreign exchange swaps, collection of banks' term deposits) are used. - Cf. ECB Monthly Bulletin, November 2006, pp. 91 ff. (detailed presentation with overviews), Deutsche Bundesbank Annual Report 2006, p. 34 (presentation of individual steps taken in 2006). Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

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