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MNI BRIEF: Bank Lending Data Still Weak - De Guindos

(MNI) London

Lending weak and policy still restrictive, ECB VP tells an MNI event.

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Eurozone bank lending has seen a very small upturn at the margins, but overall remains weak, European Central Bank Vice President Luis de Guindos said on Wednesday.

The ECB's Bank Lending Survey, expected just two days ahead of its July meeting, will be an important data point for the Governing Council and will likely underline that the cumulative 450 basis points of tightening since July 2022 are still offering some restriction to monetary policy, de Guindos told an MNI Connect livestreamed event.

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Eurozone bank lending has seen a very small upturn at the margins, but overall remains weak, European Central Bank Vice President Luis de Guindos said on Wednesday.

The ECB's Bank Lending Survey, expected just two days ahead of its July meeting, will be an important data point for the Governing Council and will likely underline that the cumulative 450 basis points of tightening since July 2022 are still offering some restriction to monetary policy, de Guindos told an MNI Connect livestreamed event.

Keep reading...Show less