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ECB reportedly faces pushback from euro area finance ministers over NIRP

“I reckon this is going to be quite a debate in the next year or so especially if the euro area economy is seen struggling once again in 2020” reports forexlive.com. The report says that the ECB is facing increasing pushback against their negative interest rate policy in private engagements with the region’s finance ministers.Adding that some euro area finance chiefs are challenging the ECB’s stance during confidential discussions on the economy, complaining about its detrimental impact on savings and pension systems, according to people familiar with the situation.ForexLive However, it is said that the ECB rebutted by noting that negative rates wouldn’t last so long if governments did more to stimulate economies instead.
 
Source: forexlive.com



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