ECB's de Cos: Policy to remain highly accommodative for prolonged period of time
Comments by ECB governing council member, Pablo Hernandez de Cos
- Coronavirus outbreak keeps balance of risks tilted to the downside
Nothing new on offer by de Cos with his remarks here. But he does shift the blame back on banks by saying that they need to step up efforts to adapt their business models to become more profitable, rather than blame negative rates.
We have seen this story before. With every passing day, Europe is becoming the new Japan.