Euro zone firms find it harder to get credit, ECB survey shows
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Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Euro zone firms are finding it harder to get credit, an ECB survey showed on Monday.
- ✓Banks are becoming more cautious as companies face higher costs.
- ✓The share of firms reporting obstacles to getting a loan rose to 7% in the three months to September, up from 5% before.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Reuters
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
FRANKFURT, Oct 26 (Reuters) - Euro zone firms are having a harder time getting credit from their banks just as their finances are squeezed by more expensive fuel and higher costs, a European Central Bank survey showed on Monday.
The ECB has been gradually raising interest rates to stem an energy-driven rise in inflation, though it is expected to stay put this week to garner more evidence on how higher borrowing costs, including on the bond market, are affecting the economy.
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Its quarterly Survey on the Access to Finance of Enterprises in the euro area showed some strains were becoming visible, with firms reporting higher interest rates and a decrease in the availability of bank loans.
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