Ester

Ester stands for Euro short-term rate, the new ECB unsecured overnight rate.

''On 16 May 2018 the Governing Council decided that the new ECB unsecured overnight rate would be called ESTER (euro short-term rate). This interest rate, which will be produced before 2020, will complement existing benchmark rates produced by the private sector and serve as a backstop reference rate.''

External

 * ECB, Ongoing initiatives, Interest rate benchmarks, Euro short-term rate (ESTER)