MNI BRIEF: Bank Lending Standards Unchanged In Q3 -- ECB
MNI (LONDON) - Euro area bank lending standards were unchanged for firms in Q3, the latest ECB survey shows, although demand for loans picked up modestly despite remaining "weak overall".
While credit standards remained unchanged in net terms, risk perceptions were again "reported as having a small tightening impact," according to the survey. A small net easing was reported in Germany.
Banks also reported a further net easing of credit standards for loans to households for house purchase, of -3%, whereas a further 6% net tightening was reported for consumer credit.
The data offered scant fresh information for policymakers, but with no change in the overall situation, there will be little to change Governing Council members' minds as they head into Thursday's meeting, when rates are expected to be cut for a second consecutive time. (See MNI INTERVIEW: ECB Should Cut In October, Says Kazaks )