Loan demand by firms and households continue to decline sharply – ECB survey

<ul><li>Eurozone banks tightened credit standards further in Q3, more than expected</li><li>Decline in net demand for loans was significantly stronger than banks had expected</li><li>This is mainly driven by higher interest rates, lower consumer confidence</li></ul><p>In other words, higher rates plus worsening economic conditions don't make a good recipe for credit appetite. Who knew. ¯\_(ツ)_/¯</p>

This article was written by Justin Low at www.forexlive.com.