April 26, 2019 / 8:56 AM / 4 months ago

ECB's Rehn unconvinced by tiered deposit rate

HELSINKI, April 26 (Reuters) - European Central Bank policymaker Olli Rehn on Friday poured cold water on the prospect of a tiered rate on deposits, which would exempt euro zone banks from paying the ECB a charge on their idle cash.

“I’m not very convinced of the effectiveness of this tool (a tiered interest rate) on the basis of current knowledge,” the Finnish governor told a news conference.

“We always discuss the forward guidance at our meetings,” he added. (Reporting by Anne Karaunen; Writing by Francesco Canepa in Frankfurt; Editing by Alison Williams)

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