Orphanides comments highlight ECB divide

Comments by the governor of the Central Bank of Cyprus on Wednesday underlined the split between members of the European Central Bank's (ECB) Governing Council on whether eurozone interest rates should fall to zero.

Athanasios Orphanides, the Cypriot governor who is a member of the 22-strong council, indicated on Wednesday evening that he would support near-zero interest rates, labelling the belief that monetary policy becomes ineffective when rates are so low a dangerous fallacy. The Cypriot

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