Dutch parliament tells ECB's Draghi it opposes 'tiered' rates  

11 Sep, 2019

The letter, addressed directly to ECB President Mario Draghi as the bank's governing council gathers for a policy meeting, ignores the convention that central banks should be free of political pressures.

The letter included a translation into English of a motion passed by Dutch parliament that says offering banks "tiered", or preferentially high, interest rates on deposits held at the ECB would be unfair to pension funds that are currently forced to invest at negative rates.

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