March 12, 2019 / 3:53 PM / a month ago

ECB's Praet says negative rates still a powerful tool

FRANKFURT, March 12 (Reuters) - The European Central Bank’s chief economist defended on Tuesday the ECB’s sub-zero policy rate, calling it a powerful tool with more positive than negative effects.

“Negative rates continue to be a powerful tool to reach our price stability objective,” Peter Praet said on Twitter. “The side effects are outweighed by the positive effects on financing conditions for firms and households.” (Reporting By Francesco Canepa; editing by John Stonestreet)

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