Of course, under a situation where both long- and short-term interest rates are quite low and the credit intermediation function of financial institutions is also hampered, such effects might not be large.
SPEECH  Crypto dominos: the bursting crypto bubbles and the destiny of digital finance Keynote speech by Fabio Panetta, Member of the Executive Board of the ECB, at the Insight Summit held at the London Business School London, 7 December 2022 It is a true pleasure to be back at the London Business School. [1] I did my PhD here many years ago.