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ECB won't cut deposit rate below -0.2 percent – Reuters poll

(Reuters) – The European Central Bank won’t cut its deposit rate below the current -0.2 percent, according to 19 of 21 euro area money market traders polled by Reuters on Monday.

The ECB made the rate negative – effectively charging euro area banks to park money with it – in June and then chopped it further below zero in September.

But the large take-up of targeted long-term ECB loans last week has been widely construed as a sign lending to private businesses is on the rise.

In a separate Reuters survey, economists predicted private lending would show an increase for the first time in nearly three years in data due on Thursday. (ECONEZ)

That survey of 23 traders also predicted the ECB would allot 120.0 billion euros at its weekly operation compared with 142.4 billion euros last week.

Banks are expected to take 20.0 billion euros at the ECB’s three-month tender, down from 22.3 billion euros last time.

(Reporting by Deepti Govind; Polling by Hari Kishan and Siddharth Iyer; editing by John Stonestreet)

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