Euro zone companies cut loan applications for first time in six years: ECB

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Credit applications by euro zone companies unexpectedly fell last quarter for th...

FILE PHOTO: The logo of the European Central Bank is pictured outside its headquarters in Frankfurt, Germany, December 8, 2016. REUTERS/Ralph Orlowski

The euro zone has been struggling with sluggish growth for two years as a global trade war and a slowdown in China hurt its exports, offsetting stronger domestic demand in some countries. “Net demand for loans to enterprises declined in the fourth quarter of 2019 ... the first time this had been seen since the fourth quarter of 2013, whereas banks had expected it to remain stable overall,” the ECB said.

Demand for mortgages continued to rise, however, particularly in France, Italy and Germany - likely strengthening concerns that the ECB’s ultra-easy policy is fuelling housing bubbles in some countries.

 

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