Central Banks
BNP Head Says ECB Shouldn’t Delay Starting to Cut Interest Rates
- Bonnafe says cost of energy transition will be very high
- CEO says bank will hit low-carbon energy financing goal early
This article is for subscribers only.
BNP Paribas SA Chief Executive Officer Jean-Laurent Bonnafe said the European Central Bank shouldn’t wait long to start easing monetary policy in order to protect the euro-area economy.
“Europe has slowed down much more than the US, where activity remains at a very high level, and Germany is especially affected,” he told La Tribune Dimanche newspaper. “So we shouldn’t delay starting to lower interest rates, in order to preserve the fabric of the European economy. These decisions are for the ECB.”