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Negative Rates Are Starting to Worry ECB Officials

Officials are increasingly worried over damaging side effects
Chief economist Philip Lane continues to defend the policy

European Central Bank Headquarters Ahead Of Rate Announcement — Photographer: Hannelore Foerster/Bloomberg

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December 5, 2019, 5:00 AM UTCUpdated onDecember 5, 2019, 7:16 AM UTC

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Five weeks since Mario Draghi retired from running the European Central Bank, finding an outright fan of his legacy of negative interest rates has become a lot harder.