The ECB does not give up lowering rates if necessary, says the Bank of Spain

The Governor of the Bank of Spain, Pablo Hernández de Cos, explained that the ECB decided on Thursday to keep interest rates unchanged because it has other tools to deal with the crisis caused by the coronavirus, which does not imply that they do not download if you see necessary.

In a meeting with journalists held this Friday, Hernández de Cos defended the decision adopted by the European Central Bank (ECB) and defended by its president, Christine Lagarde, which received harsh criticism and caused a strong reaction in the markets, which were expecting a new cut interest rates.

The main indicator of the Spanish Stock Market, the IBEX 35, lost 14% in the worst session in its history.

Although he had no opportunity to expose it yesterday, the governor, Lagarde and the ECB council, which adopted all the decisions "unanimously," explained, does not rule out that it should be done if necessary, for which there is scope.


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