ECB Monetary Policy Has Not Hurt Bank Profits

European Central Bank (ECB) President Mario Draghi said Friday that the environment of low rates in the euro zone has not hurt the profits of European banks.”As regards bank profitability, ECB research finds little evidence that our monetary policy is currently doing harm,” Draghi told an audience in Frankfurt.The central bank has been under some criticism from bank managers for keeping interest rates too low for a long time. The lower that interest rates are, the less banks can charge customers for taking out loans. Many CEOs have therefore bemoaned the ultra-loose policy that the central bank has embarked upon.

Source: Draghi says ECB has not hurt banks’ profits – CNBC

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