# Eonia rate to be fixed above ECB's new reference rate

> The euro zone's Eonia rate will be fixed at 8.5 basis points above the ECB's new €STR reference rate from October 2, the ECB said on Friday. Eonia is being discontinued due to low volumes, and banks will gradually shift their contracts to €STR. A private sector working group recommended fixing the spread during the transition.

- Date: 2019-05-31 · published 2019-05-31T12:00:00.000Z
- Category: policy · region Euro zone · magnitude low
- Page: https://feedsoft.ai/events/59295-eonia-rate-to-be-fixed-above-ecb-s-new-reference-rate
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

This is a benchmark rate transition for euro money markets with no direct effect on commodity supply, demand or prices.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2019-04-10 | [Introductory statement to the press conference (with Q&A)](https://feedsoft.ai/events/59797-introductory-statement-to-the-press-conference-with-q-and-a.md) | +0.1% | -0.9% |
| EURUSD | 2025-03-05 | [European markets soar as Germany moves to lift ‘debt brake’ and raise defence spending \| Germany \| The Guardian](https://feedsoft.ai/events/5804-european-markets-soar-as-germany-moves-to-lift-debt-brake-and-raise-defence.md) | +3.7% | +2.5% |
| EURUSD | 2025-11-17 | [Market trend - Fertilizer middle market - beginning of](https://feedsoft.ai/events/21860-market-trend-fertilizer-middle-market-beginning-of.md) | -1.0% | +1.2% |
| EURUSD | 2019-02-13 | [EU brings industry together to tackle dollar dominance in energy trade](https://feedsoft.ai/events/60826-eu-brings-industry-together-to-tackle-dollar-dominance-in-energy-trade.md) | +0.2% | -0.1% |
| EURUSD | 2017-01-31 | [Euro spikes after Trump's trade adviser says Germany is using 'grossly undervalued' currency](https://feedsoft.ai/events/73173-euro-spikes-after-trump-s-trade-adviser-says-germany-is-using-grossly.md) | +0.5% | -0.6% |

## Sources

- reuters.com: https://www.reuters.com/article/uk-eurozone-benchmark-ecb/eonia-rate-to-be-fixed-above-ecbs-new-reference-rate-idUKKCN1T114P/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.