ECB rates can still go much lower, staff research shows
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FRANKFURT (Reuters) - European Central Bank interest rates, already deep in negative territory, could go much lower before any further cuts become counterproductive, new research by the bank's staff showed on Thursday.A paper, which does not necessarily represent the ECB's opinion, showed that even at minus 1%, the ECB would still not hit the so-called reversal rate, where bank lending starts to contract and rate cuts become counterproductive."On the face of it, these results seem reassuring:..