(Bloomberg) -- Demand for corporate loans in the euro area saw a “substantial decline” in the first quarter as the region continues to reel from elevated...
-- Demand for corporate loans in the euro area saw a “ substantial decline ” in the first quarter as the region continues to reel from elevated borrowing costs that probably won’t be cut until the middle of the year, the European Central Bank said.The ECB’s quarterly Bank Lending Survey , published Tuesday, also showed that credit standards — banks’ internal guidelines or loan-approval criteria — were a little tighter for firms across the 20-nation bloc.
Officials in Frankfurt are parsing such data to determine how soon and how quickly they can undo their unprecedented series of interest-rate increases. With inflation in retreat, cuts are expected to begin in June. Analysts widely expect the deposit rate to be kept at a record-high 4% when policymakers meet this week.
Despite just managing to escape a recession after Russia attacked Ukraine and consumer prices surged, the bloc has barely registered any growth in more than a year.Banks continued to enjoy a “markedly positive” impact on their net interest margins over the past six months from the ECB’s rate hikes, though the cumulative effect is expected to diminish over the next half year.
Amazon and Temu are taking different tacks to challenge Poland's online marketplace leader Allegro, with the U.S. e-commerce giant leaning into video and the fashion-focused Chinese company relying on low prices to win customers. The two retailers see opportunities in Central and Eastern Europe's biggest economy and the region as a whole, where growth rates are set to outpace those of more mature Western markets as incomes rise and more shoppers move online.
Bloomberg Bank Lending Survey Loan Demand Substantial Decline Credit Standards
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