Q: Were concerns of having negative rates in....>

ECB: Q: Were concerns of having negative rates in place for a long time

discussed today? If economy slows, what tool will ECB turn to first?

- A: Concerned about low rate as it is predicated on low growth. Would rather

have higher growth and higher rates. As part of strat review will look at

implications of negative rates for extended period and how that impacts ability

to act if needed. Different rules apply to different parts of the yield curve If

growth did not recovery - which part of the yield curve will ECB want to target?

- Q: on climate change and will it wait until review is finished to incorporate

any climate change initiatives into portfolio etc?

- A: Climate change will be important factor discussed in review - most of the

rest of the answer she had said previously.