April 6, 2018 / 7:48 AM / a year ago

Trade war fear already raising borrowing costs: ECB's Coeure

CERNOBBIO, Italy, April 6 (Reuters) - Fears of a trade war fuelled U.S. moves on tariffs, are already raising borrowing costs by hurting stock markets and creating uncertainty, a European Central Bank board member said on Friday.

“Falls in equity prices in response to the U.S. announcement to impose a tariff on steel and aluminium, and prevailing uncertainty on the scope of any retaliatory measures, have already contributed to tighter financial conditions,” Benoit Coeure said at an event in Cernobbio, Italy. (Reporting By Mark Bendeich, writing by Francesco Canepa in Frankfurt; editing by John Stonestreet)

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