ECB's Visco: Negative interest rates have little effect

The pushback against negative rates is continuing

• Negative rates can have negative side effects on the financial system
• Prefers bond purchases over negative rates

It looks like policymakers are starting to get a bit concerned about the September stimulus package. It'll be interesting to see how this translates to monetary policy decisions next year - especially if regional banks come under further pressure.

More headlines regarding this today:

• ECB's de Cos: Prolonged period of low interest rates could threaten financial stability
• ECB reportedly faces pushback from euro area finance ministers over NIRP