October 9, 2019 / 7:57 AM / 2 months ago

De Guindos: ECB could cut rates further but side effects becoming more tangible

BERLIN, Oct 9 (Reuters) - European Central Bank Vice President Luis de Guindos said in an interview published on Wednesday that the ECB could cut interest rates further but added that the side effects of monetary policy were starting to become more tangible.

Asked by Market News - in an interview published on the ECB’s website - whether he ruled out tweaking the ECB’s monetary policy at an October meeting, de Guindos said: “We will have to see what happens with the outlook. And we will have to see what happens with the downside risk.”

Asked if tiering was a kind of mitigation that could lead to further rate cuts, he said: “We haven’t discussed it, but my impression is that -0.50% is the correct level at present, and as to any further cut, we will have a good, in-depth discussion in the Governing Council.” (Reporting by Michelle Martin, editing by Thomas Escritt)

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