ING CEO Blasts ECB for Signaling Plan to Cut Rates, Restart QE

If the European Central Bank decides to cut interest rates and restart bond purchases, it would hurt the euro-area economy more than help it, according to ING Groep’s chief executive officer.

Ralph Hamers said on a call with journalists Thursday that it’s “not the moment” for such support measures. Lending demand in the region, he argued, is already sufficiently met, and pessimistic tones from the central bank could reinforce consumers’ waning confidence.