Some ECB officials are said to doubt rate tiering will happen

Bloomberg reports

• ECB officials are said to lack enthusiasm for sub-zero tiering
• ECB is said not to have discussed further deposit rate cuts
• Debate on tiering is said to underline that there are plenty of tools still left

For some context, the ECB is believed to be moving forward with an analysis on rate tiering but the report here says that there are officials who doubt that it will actually happen upon completion of the analysis. The sources mentioned say that they aren't opposed to Draghi examining such measures but they don't see any merits to revamp the current negative interest rate tool.

In case you missed out on what started this whole debate, it is the fact that banks in the region are starting to feel squeezed with regards to profitability thanks to the negative interest rates applied by the ECB. It's a similar story to what we're seeing in Japan.