The Fed broke inflation by pushing its overnight interest-rate target to 20% in 1981.

1981年，美联储将隔夜利率目标上调至20%，打破了通胀循环。

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Before the crisis, the ECB would aim to keep overnight interest rates close to the refi rate.

危机发生之前，欧洲央行本想将隔夜利率保持在接近再融资利率的水平。

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By restricting its liquidity support, the ECB will be able to guide overnight interest rates towards 1% without having to alter its policy rate.

靠限制放出流动性，欧洲央行就能够引导隔夜利率向1%上扬，而无需改动政策利率。

youdao

I've got the Federal Funds Rate--it's the shortest interest rate, an overnight rate--it was at 4% at that time and then there was a sharp drop.

这是联邦基金利率,是最短期的利率,当时的隔夜拆借利率是4%,接下来利率急速下跌

耶鲁公开课 - 金融市场课程节选

Before the crisis, the ECB would aim to keep overnight interest rates close to the refi rate.

ECONOMIST: Appraising the European Central Bank

His comments indicated the Fed would maintain its target for overnight interest rates at 2.0% for the time being.

FORBES: Magazine Article

By restricting its liquidity support, the ECB will be able to guide overnight interest rates towards 1% without having to alter its policy rate.

ECONOMIST: Appraising the European Central Bank