ECB's Long-term Loans To See Strong Demand, Won't Boost Interbank Lending: Poll

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ECB's Long-term Loans To See Strong Demand, Won't Boost Interbank Lending: Poll

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ECB's Long-term Loans To See Strong Demand, Won't Boost Interbank Lending: Poll

by Wochit 0:50 mins

ECB's Long-term Loans To See Strong Demand, Won't Boost Interbank Lending: Poll

by Wochit 0:50 mins

Demand for the European Central Bank's newly announced long-term loans will be strong, traders polled by Reuters said, but they will do little to boost interbank lending. ECB President Mario Draghi last week announced a slew of measures to combat low inflation - including cutting interest rates to record lows and a new series of long-term loans, known as Targeted Long-Term Refinancing Operations. All but two of the 21 traders polled expect take-up to be more than half the roughly 400 billion euros the ECB is offering in the hope of encouraging more lending. The latest long-term loans come with the condition that banks use the funds to lend to the bloc's non-financial private sector.

Wochit

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