Sabato, 22 Settembre 2018

ECB stands ready to reduce interest rates, says Visco


Rome, May 31 - Interest-rate cuts by the European
Central Bank have been effective and the ECB stands ready to cut
again if necessary, Bank of Italy Governor Ignazio Visco said
Cutting rates to increase liquidity in the eurozone, "has
proven effective," Visco told a meeting of the central bank.
But more may be needed, he added.
"The ECB is examining, in concert with other European
institutions, initiatives to promote issues of securities backed
by loans to businesses".
Visco also called for measures to "break the negative
spiral" in credit availability in the economy, the result of a
drop in the amount of lending by nervous banks to businesses.
At the same time, companies have been increasingly afraid
to borrow, leading to economic stagnation.

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