ECB policymakers are leaning toward a stimulus package that includes a rate cut,...
FRANKFURT - ECB policymakers are leaning toward a stimulus package that includes a rate cut, a beefed-up pledge to keep rates low for longer and compensation for banks over the side-effects of negative rates, five sources familiar with the discussion said.
An ECB spokesman declined to comment. The sources stressed that no decisions had been taken and discussions were ongoing, including on the size of the rate cut. Several sources said final proposals were likely to be given to policymakers only during the week of their meeting, as is now customary before major decisions.
Sovereign debt would remain the cornerstone of any new purchase program, but private sector assets were also again likely to be included, the sources added. Germany’s economy shrank last quarter and the bloc’s industrial sector is also contracting, raising the risk that export troubles could soon infect the domestic economy.
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