ECB board member Coeure back on the wires 3 May
- policy interventions are undoubtedly having an impact on markets
- on-going monitoring so far does not suggest impairments to the price discovery process
- we now have proof that market functioning below zero does not imply different logics and mechanisms
So negative rates are the new norm. Forgive me for being just a little afraid.
- banks' profitability has actually improved when you look at overall impact of ECB mon pol
- would not necessarily remain true if depo facility were to lowered significantly further
Hints at limits to negative rate extension helping support the euro.
