Technical Analysis

Euro zone banks tighten credit by most since debt crisis, ECB says

Reuters Note

Euro zone banks have tightened access to credit for companies by the most since the 2011 debt crisis and expect to continue doing so as they turn more pessimistic on the economy amid rising funding costs, a European Central Bank survey showed on Tuesday.

But demand for loans from enterprises and household also fell, with the drop in demand for mortgages the biggest on record on the back of higher interest rates and lower confidence, the ECB’s quarterly Bank Lending Survey showed.

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