European Central Bank (ECB) President Mario Draghi said Friday that the environment of low rates in the euro zone has not hurt the profits of European banks.”As regards bank profitability, ECB research finds little evidence that our monetary policy is currently doing harm,” Draghi told an audience in Frankfurt.The central bank has been under some criticism from bank managers for keeping interest rates too low for a long time. The lower that interest rates are, the less banks can charge customers for taking out loans. Many CEOs have therefore bemoaned the ultra-loose policy that the central bank has embarked upon.
Source: Draghi says ECB has not hurt banks’ profits – CNBC
Oil Close Leaves Longs Nervous
Turning the Page on Part One of Tax Reform
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.