ECB’s Stark warns of low interest rate curse


Jürgen Stark, a member of the European Central Bank (ECB) executive board, on Friday said there were severe costs attached to keeping interest rates low over a long period.

At an ECB conference in Frankfurt, Germany, Stark said: "The period prior to the financial crisis has demonstrated that global policy accommodation for a protracted period of time can inadvertently distort incentives and behaviour in the financial sector. Low interest rates over too long a period foster an underpricing of

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