Weak TLTRO demand increases pressure on ECB

ECB in Frankfurt

Eurozone banks have borrowed €129.8 billion through the second of the European Central Bank's (ECB) targeted longer-term refinancing operations (TLTROs), leaving around €200 billion on the table.

Take-up has been described by various observers as "low", "weak", "meagre" and "lacklustre", and it increases pressure on the ECB to introduce quantitative easing (QE) in June.

Last week, ECB president Mario Draghi said the governing council would "reassess the monetary stimulus achieved... early next y

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