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European Central Bank leaves rates unchanged as world's central banks wrestle with when to cutFRANKFURT, Germany (AP) — The European Central Bank left its key interest rate benchmark unchanged Thursday, choosing to wait for confirmation that rapidly receding inflation is firmly under control before cutting rates to support an economy that’s s
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Austrian central bank governor calls for end to ECB subsidy for commercial banksAustrian central bank Governor Robert Holzmann has called for the European Central Bank (ECB) to stop subsidizing commercial banks and reduce interest payments on the cash they receive from the ECB. Holzmann argues that the current structure places a major burden on the financial outcomes of central banks and that deficits cannot be sustained indefinitely. The issue stems from the ECB's quantitative easing program, which has led to commercial banks parking excess liquidity at the ECB at a 4% rate.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Austrian central bank governor calls for end to ECB subsidy for commercial banksAustrian central bank Governor Robert Holzmann has called for the European Central Bank (ECB) to stop subsidizing commercial banks and to cut interest payments on the cash lenders received from the central bank. Holzmann argues that the current structure places a major burden on the financial outcomes of central banks and that deficits cannot be run indefinitely. The issue stems from the ECB's quantitative easing program, which has led to commercial banks parking excess liquidity at the ECB at a 4% rate.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »