ECB's Visco: Negative rates can have side effects on the financial system

The European Central Bank (ECB) Governing Council member Ignazio Visco was out with some comments in the last hour and said that negative rates can have negative side effects on the financial system. I prefer bond purchases over negative rates, Visco added further.

This comes on the back of earlier comments by ECB's Pablo Hernandez de Cos and reflected that policymakers are a bit concerns about the September stimulus package.