The description is often, but not always, displayed on search engine results pages, so it can impact click-through rates.
I used to believe that the purpose of the Meta description tag was twofold: to help the page rank highly for the words that were contained within it, as well as to provide a nice description in the search engine results pages (SERPs). However, today it appears that, similar to the Meta keywords tag, the information you place in this tag is *not* given any weight in the ranking algorithms of Google, and only a tiny amount of weight in Yahoo's.
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