BOF gov and ECB governing council member Villeroy out on Bloomberg 23 Sept
- but there are limits
- there is a lower bound but we don't know exactly where
Thanks for that insight and forward guidance.
- in the short term rates will remain low and yield curve will stay rather flat
- pace of rate rise will depend on inflation pick up
- we have investment dearth rather than savings glut
- strong TLTRO take-up shows its strength
- ECB policy was net positive for bank profitability
EURUSD and EURGBP just running into a few sellers after a strong start to the session.
ECB's Villeroy - Neg rates are useful
