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Euro Hits 2 Years Low amid Talks over Long-term Loans


Sat 16 Feb 2019 | 12:22 AM
Taarek Refaat

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.