ECB Needs Clear Monetary Policy Case for Tiering, Knot Says - Bloomberg

• Proof required negative rates are disrupting monetary policy.
•  Knot expresses doubt tiering best way to solve the problem.

A Bloomberg news has reported that the European Central Bank would need a clear monetary-policy reason to consider acting to mitigate the effects of negative interest rates on banks, Governing Council member Klaas Knot was quoted as saying Sunday.

“There must at least be some evidence that negative rates are disrupting the impact of monetary policy through their effect on bank profitability,” Bloomberg reported, noting Knot, who is the governor of the Dutch central bank, saying in an interview with Handelsblatt newspaper.

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