 "The headquarters of the European Central Bank (ECB) are pictured in Frankfurt")
Euro zone banks are set to repay nearly $310 billion in loans to the European Central Bank next week, the ECB said on Friday, the biggest cash withdrawal from the euro zone’s financial system in the euro's 22-year history.
The move is part of ECB efforts to fight record-high inflation in the euro zone by raising the cost of credit and it is its first step towards mopping up even more liquidity next year by trimming its multi-trillion-euro bond portfolio.
The euro zone’s central bank said lenders would repay 296 billion euros worth of the 2.1-trillion-euros, multi-year credit they have taken under
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