ECB Minutes: Considered Sharper Rate Cut in March
European Central Bank (ECB) March policy account/minutes released today
showed governing council considered a much sharper rate cut in March,
but feared reaching a zero lower bound.
Key points
Discussed negative rate exemption in March
Saw exemptions scheme as too complex
Broad agreement among members that strong policy response was needed but there were different views on package components
A further cut in the deposit rate would pressure banks profitability
(Market News Provided by FXstreet)
