Pressure builds on ECB as figures show no lending growth
The Organisation for Economic Cooperation and Development (OECD) today called on the European Central Bank (ECB) to introduce negative interest rates on deposits, as ECB figures revealed lending to the productive economy continues to fall.
The ECB revealed loans to the private sector fell 0.9% in April, the worst result in the last three months. Year-on-year, loans to non-financial corporations was down 3.0%, and credit to households for consumption purposes fell 3.2%. On the other hand, loans
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