Weak euro zone lending adds to recession fears

FRANKFURT, Oct 25 - Bank lending across the euro zone came to a near standstill last month, European Central Bank data showed on Wednesday, providing further evidence that the 20-nation bloc was skirting a recession.

Lending to businesses expanded by just 0.2% in September, the lowest figure since late 2015 when the bloc was just emerging from its debt crisis, and down from 0.7% a month earlier. Lending is taking a hit after a string of interest rate hikes took the ECB's key rate to a record high 4% last month, all in the hope this would depress activity enough for inflation to return to 2%.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. Treasury sees 'potential improvement' in sovereign debt casesKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »