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Main » 2016 » March » 18 » Praet: ECB could cut rates again if the economy does not recover
Praet: ECB could cut rates again if the economy does not recover

FRANKFURT (Reuters) - European Central Bank chief economist said on Friday in an interview that the euro zone central bank may cut interest rates again if the euro zone economy will not recover, and in more extreme conditions, the bank will consider the possibility to print money and distribute it directly to people.



Central Bank disappointed investors last week when Mario Draghi, said that does not provide for further interest rate cuts, raising the question of his promise in 2012 to "do everything possible" to save the euro. The markets have since stabilized, and on Thursday, Draghi said that ECB rates will remain at current or lower levels for a long time.

ECB chief economist Peter Praet said that rates are not reached its lower limit, even taking into account their negative impact. He said: "As shown by other central banks, we have not reached the lower limit."

Praet said that if the "negative interest rates worsen the prognosis or financial conditions do not will adjust in the desired direction, which is to stimulate the economy and inflation, thus, lowering rates will remain the main weapon of the ECB."

The ECB has cut three key interest rates last week and announced its intention to expand the program to purchase euro-zone companies, corporate bonds, which have an investment grade rating and are not banks.



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