http://www.ft.com/cms/s/0/0e993c00-bdd1-11e0-babc-00144feabdc0.html#axzz1TqowDXMe
The ECB said that banks deposited €104.9bn overnight on Tuesday, the highest level since early February and up from €49.9bn on Friday. The central bank pays below market rates, implying the jump means that banks are hoarding funds rather than lending to each other.
SAMEER SAYS - HOARDING AND NOT LENDING - IS THIS NOT WHAT I HAD SAID - CLEAR CUT SIGN OF DEFLATION SCARE
“The moves we’ve seen in the past three days suggest this is nervousness based in the euro markets, not elsewhere,” said Simon Smith, chief economist at FXPro.
The ECB said that banks deposited €104.9bn overnight on Tuesday, the highest level since early February and up from €49.9bn on Friday. The central bank pays below market rates, implying the jump means that banks are hoarding funds rather than lending to each other.
SAMEER SAYS - HOARDING AND NOT LENDING - IS THIS NOT WHAT I HAD SAID - CLEAR CUT SIGN OF DEFLATION SCARE
“The moves we’ve seen in the past three days suggest this is nervousness based in the euro markets, not elsewhere,” said Simon Smith, chief economist at FXPro.
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