By: Taarek Refaat
BERLIN, Feb. 15 (SEE)- The euro fell against the US dollar on Friday to its lowest level in two years after the European Central Bank (ECB) announced considering the possibility of granting long-term loans to banks.
The euro fell 0.2 percent to record $ 1.1270, after hitting $ 1.1231, its lowest level since last November, and near the lowest level of June 2016.
Speaking at the Council on Foreign Relations (CFR ) in New York, ECB Executive Board Member Benoît Coeuré said that long-term loans to banks are "being discussed."
Coeuré added that banks in some southern European countries will face difficulties in repaying long-term financing loans as of 2020.
"The euro zone's inflation rate will not fluctuate significantly, while economic growth will witness a slowdown," he concluded.