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ECB's de Guindos warns of hit to banks from higher rates

ECB's de Guindos warns of hit to banks from higher rates
ECB's de Guindos warns of hit to banks from higher rates Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Published on Updated
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LONDON - Euro zone banks are set for some pain as the economy slows and higher interest rates land some companies in hot water, the European Central Bank vice-president Luis de Guindos said on Tuesday.

"You have to take into consideration that we're going to have a slowdown of the economy and simultaneously that higher rates will have a clear an impact on the solvency of corporates," de Guindos told an event in London.

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