ECB may provide more Cheap Loans

European Central Bank President Mario Draghi said Monday that another round of cheap loans could be provided to banks if needed to keep borrowing rates low and support the recovery.

Draghi told the European Parliament in Brussels the 17-nation euro zone’s economic revival still “needs to be firmly established.”

To help, the ECB is ready not only to keep its benchmark interest rate low for “an extended period of time” but also to offer a new round of so-called LTRO loans to banks “if needed,” Draghi said.


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