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Monetary policy should not be designed for banks, BNP Paribas chairman says

November 14, 2019


In an era of negative interest rates in Europe, monetary policy should not be geared towards appeasing the banking sector, BNP Paribas Chairman Jean Lemierre has said.

Speaking to CNBC’s Annette Weisbach at the BNP Conference in London on Thursday, Lemierre said the ECB (European Central Bank) was moving in the right direction with its latest rate cut and substantial bond buying package, but “can’t be alone” in efforts to stimulate the European economy.

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