ECB's Rehn: Eurozone slowdown seems more durable than just the short-term
Comments by ECB governing council member, Olli Rehn, to Bloomberg
- Domestic demand will help avoid a recession
- Negative rates shouldn't become the new normal
- ECB to decide on TLTRO details well before September start date
- Says that regional banks can expect details by June
- ECB doesn't want to raise rates prematurely amid risks
His remarks carry a similar theme to what has been communicated at the ECB meeting during the start of this month. But the fact that policymakers continue to mention about recession risks in their commentary isn't really a sign of confidence if you ask me.