June 9, 2020 / 2:59 PM / a month ago

Rate cuts remain an option for ECB, Schnabel says

FRANKFURT, June 9 (Reuters) - Interest rate cuts remain an option for the European Central Bank but asset purchases are now a more appropriate tool to stimulate the euro zone economy, ECB board member Isabel Schnabel said on Tuesday.

“Currently, we consider asset purchases to be a more effective and efficient tool, also taking potential side effects into account,” Schnabel said in a Twitter Q&A. “But our experience with negative interest rates has been positive, and lowering interest rates remains an option for the future.” (Reporting by Balazs Koranyi; Editing by Alex Richardson)

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