[ad_1]
EBC member of the Board of Governors of the European Central Bank (ECB) and EBNB governor Ewald Nowotny speaks at a press conference in Vienna, Austria, on March 28, 2019. REUTERS / Leonhard Foeger
VIENNA (Reuters) – The European Central Bank's new offer to lenders to effectively pay them to take its money should be limited to a certain period and not become a permanent fix, ECB President Ewald Nowotny said Friday.
The ECB decided on Thursday not to raise interest rates over the next year and offered to effectively pay the banks to borrow and lend that money to the real economy.
"From my point of view, this should not be one of the permanent instruments of the ECB," said Nowotny, president of the Austrian central bank, at a press conference in Vienna.
"Therefore, it is good that TLTRO III is a little less generous than the previous model."
Reportage of Kirsti Knolle; Edited by Catherine Evans
Source link
