Subscriber OnlyMarketsEconomicsThe ECB Is Preparing to Inflict More Pain on BanksECB expected to cut deposit rate to at least minus 0.5%Lenders such as Deutsche and UBS say policy is ruining financeFormer ECB Vice President Vitor Constancio discusses the impact of negative rates on banks (scroll to 2’52").(Source: Bloomberg)ByYuko Takeo and Nicholas Comfort+FollowSeptember 11, 2019, 4:00 AM UTCUpdated onSeptember 11, 2019, 11:51 AM UTCTerms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The European Central Bank is about to turn the screws again on financial institutions by diving even deeper into negative interest rates.