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ECB's Visco favours bond buys over rate cuts: Handelsblatt

Tue, 3rd Dec 2019 12:22

BERLIN, Dec 3 (Reuters) - Italy's representative on the
European Central Bank's governing Council said he favours bond
purchases over interest rate cuts as a stimulus tool because
their effects are broader and stronger.

"I prefer bond purchases to negative rates," Bank of Italy
governor Ignazio Visco told German business daily Handelsblatt
in an interview published on Tuesday.

"Negative rates achieve little and have possibly damaging
side effects on the financial system. The effect of bond
purchases is stronger and more widespread."
(Reporting By Thomas Seythal; Writing by Francesco Canepa in
Frankfurt; Editing by Andrew Heavens)

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