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ECB doesn't want ultra-low rates for long

Reporter: Xu Zhen 丨 CCTV.com

10-26-2016 14:55 BJT

European Central Bank president Mario Draghi says the ECB is aware of the increasing costs to the financial sector because of its ultra-loose monetary policies. Draghi also says the bank doesn't want to maintain negative interest rates for too long.

ECB's president Mario Draghi said, "All this doesn't mean that very low interest rates are costless. We are aware of the added distortions that can result from them. Indeed we would certainly prefer not to have to keep interest rates at such low levels for an excessively long time, since the unwelcome side-effects may accumulate over time."

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