ECB to Publish Policy Rates at 21:15 Beijing Time

The ECB's rate trio matters less for the headline number than for the spread between the deposit and lending rates, which frames the corridor the ECB is willing to tolerate as the policy stance evolves. For crypto and RWA markets, the signal is indirect: euro-area funding costs feed into the global liquidity backdrop that risk assets, including tokenized treasuries, are sensitive to. Whether the decision comes with any shift in the corridor's width, rather than the level itself, is the detail worth watching.