November 20, 2013 / 3:48 PM / 6 years ago

ECB mulls negative deposit rate - Bloomberg citing sources

The euro sculpture is seen outside the headquarters of the European Central Bank (ECB) in Frankfurt, November 5, 2013. REUTERS/Kai Pfaffenbach (

FRANKFURT (Reuters) - The European Central Bank is considering making banks pay to deposit cash with it overnight, news agency Bloomberg said on Wednesday, citing unnamed sources.

Bloomberg said that were the ECB to decide to take the deposit rate into negative territory from the current level of zero, it would consider an interest rate of -0.1 percent.

ECB President Mario Draghi said earlier this month that the central bank was technically ready for negative rates, if warranted by the economy.

Draghi’s comments came after the ECB cut its main refinancing rate to a record low of 0.25 percent, but kept its deposit rate unchanged at zero.

Reporting by Sakari Suoninen

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below