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Euro zone companies' borrowing binge accelerated in Aug - ECB

Economic Indicators Sep 27, 2022 09:44
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© Reuters. FILE PHOTO: A shopper pays with a euro bank note in a market in Nice, France, April 3, 2019. REUTERS/Eric Gaillard/

FRANKFURT (Reuters) - Euro zone companies extended their borrowing binge in August, taking on bank loans at the fastest pace since 2008 despite rising interest rates, European Central Bank data showed on Tuesday.

Bank lending to companies rose by 8.7% in August from 7.6% in July, while lending to households grew at a steady 4.5%, the data showed.

The ECB started raising interest rates in July to try to cool record-high inflation but so far this has not discouraged borrowing from banks, which have been slower than financial markets in raising their lending rates.

 

 

Euro zone companies' borrowing binge accelerated in Aug - ECB
 

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Comments (2)
Mal Vic
Mal Vic Sep 27, 2022 10:37
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Execs borrow, take the money, let the business collapse and shareholders are left holding the baby.
Samin Malakar
Samin Malakar Sep 27, 2022 10:13
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it is important information all of us great day good job
 
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