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ECB May Think of Negative Interest Rates

EUR weakened against US dollar after the president of Germany’s Federal Reserve Bank Bundesbank and European Central Bank member Jens Weidmann stated that the bank might think of negative interest rates to counter the strong gains in currency. Negative interest rates would definitely make the currency unattractive and would be used as a funding currency for making investments in higher yielding assets, making it weaker. Bank will be closely looking at the exchange rate and its impact on the Inflation.

Source : Reuters