ECB’s Villeroy: Maintaining low interest rate environment is completely justified and necessary
|ECB governing council member, Francois Villeroy de Galhau crossed the wires in the last hour saying that maintaining a low-interest rate environment is completely justified and necessary in light of the current economic situation.
Additional quotes:
• ECB needs time to assess the impact of negative rates.
• Monetary policy also has favourable effects for banks
• Impact of low-interest rate on banks should neither be ignored nor blow out of proportion.
• The main prerequisite for banks to improve profitability is for them to put in place restructuring strategies.
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