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ECB's Praet: Demand an issue in weak bank lending

FXStreet (Łódź) - ECB executive board member and chief economist Peter Praet said on a panel discussion at the Eurofi Financial Forum in Milan, Italy that the weakness in bank lending in the Eurozone was brought about by not only by supply problems but also by demand issues.

"Both demand and supply action is needed in order to improve bank lending," Praet stressed, adding that ECB's asset quality review of Eurozone banks should have a positive impact on credit supply.

Moreover, the ECB policymaker urged Member States to increase efforts to boost work force participation and stimulate productivity. He also highlighted the weak corporate investment in the euro area.

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USD/CHF jumps to test 1-year highs

Following news that the SNB may be opened to negative rates, the USD/CHF jumped around 60 pips from 0.9325 to test 1-year highs at 0.9385 where the pair found some selling interest.
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