ECB won’t lower rates in near future - Praet

ECB won’t lower rates in near future - Praet European Central Bank board member Peter Praet emphasized it would take a worse inflation view for the to slash interest rates, but lowering the rate further is not an option. In March, the deposit rate was cut to -0.4% to force money deposited at the central bank into the economy, spurring inflation and economic growth. The ECB's chief economist said the favorable effect of negative rates, which were introduced in 2014, improved financial situations and offset any negative effects which may be correlated to banks' earnings capability or other related perils.