According to the ECB, the drop in loan demand from Eurozone companies in the second quarter was “significantly higher than expected.”
Banks in the euro zone reported a sharp net drop in demand for corporate loans in the second quarter, falling to its lowest level since 2003, a sign that rising rates are still weighing on the economy, the European Central Bank said on Tuesday.
The drop was “significantly higher than expected by banks in the previous quarter,” explains the ECB. At the same time, approval criteria for business loans and lines of credit have been further tightened, the institute adds in its quarterly survey of bank credit.
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Source: BFM TV
