Praet: “Some bankers assert that an increase in the deposit rate would actually constitute a loosening of our policy, as banks would then give more credit. But as I said, lending levels are already developing well. No one likes the current environment. Not even me – I’d love to see higher growth and investment and more structural reforms.
The new wave is more focused on retail payments and driven by technology. Before passing any judgement, we have to start from the principle that innovation is good because it makes payments cheaper and faster. That’s an area where we’re learning a great deal from our African and Latin American colleagues. There’s a lot of leapfrogging toward innovative solutions.