ECB takes steps to discourage trading on euro reference rate

ECB warns it may delay a day if trading linked to its rate doesn't decline

Airport delays
High time: ECB delays publishing euro reference rate

The European Central Bank is moving the publication time of its euro reference rate to later in the day in a bid to discourage its use for trading purposes, adding that it will consider not publishing the rates until the next business day if activity tied to them does not decline.

The initial changes will take effect on July 1, 2016, when publication of the daily euro rate will be delayed from the current 13:30 GMT until 15:00 GMT. The central bank says the calculation methodology will remain

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