September 24, 2019 / 12:14 PM / a month ago

ECB sees little evidence of money market tightening: de Guindos

FILE PHOTO: European Central Bank (ECB) Vice-President Luis de Guindos speaks during a news conference after the informal meeting of ministers for economic and financial affairs (ECOFIN) and Eurogroup in Helsinki, Finland, 13 September 2019. Lehtikuva/Emmi Korhonen via REUTERS

FRANKFURT (Reuters) - The European Central Bank sees “very little evidence” of higher rates in the money markets as a result of its decision to create a two-tier rate on deposits, the ECB’s Vice President Luis de Guindos said on Tuesday.

“If (inter-bank lending) transactions were to occur at higher rates than before, then we may see upward pressure on certain money market rates,” de Guindos said.

“At this stage, we see very little evidence of this being priced in by the market, but the ECB will continue to actively monitor conditions in the money market,” he added.

Reporting By Francesco Canepa; Editing by Balazs Koranyi

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