Praet's Take on ECB Policy and the Economy: Interview Highlights
- Chief economist talks tiering, TLTRO, and times that were hard
- ECB must ‘seriously’ analyze negative-rate effect on lending
Peter Praet, chief economist at the European Central Bank (ECB), looks on during the 'ECB and its Watchers' conference in Frankfurt, Germany, on Wednesday, March 27, 2019.
Photographer: Andreas Arnold/BloombergThis article is for subscribers only.
The European Central Bank will need to have a solid monetary policy case before officials act to mitigate the side effects of negative interest rates on banks, according to chief economist Peter Praet. He also sees long-term loans for banks as an important instrument that can be calibrated to counteract possible further deterioration in the economy.
Below are the highlights of a Bloomberg interview with the 70-year old Belgian. As he prepares to leave at the end of May, he also gives an an account of his worst days on the job.