The European Central Bank's monetary easing has not yet reached a point at which it is doing more harm than good to the eurozone economy, says Pablo Hernandez de Cos, a member of the ECB's governing council. "Evidence suggests that we have not yet reached the reversal rate, but if rates remain negative for long, this may end up hampering bank-based monetary transmission," the policymaker said.
ECB policymaker hints at scope for further rate cuts
Sign up for GFMA SmartBrief
Securities, global capital markets and financial services news
Get the intelligence you need: news and information that is changing your industry today, hand-curated by our professional editors from thousands of sources and delivered straight to your inbox.