Pimco Says ECB Not Seriously Thinking About Unconventional Tools
2013-12-05 15:21:09.614 GMT
By Stefania Spezzati
Dec. 5 (Bloomberg) -- New ECB forecast doesn’t imply ECB is
seriously contemplating the use of unconventional monetary
policy, Thomas Kressin, head of European foreign exchange at
Pimco, says in interview.
* EUR may continue to move gradually higher
* A new LTRO is unlikely; would be conditional on banks on-
lending funds to real economy
* ECB thinks along the lines of BOE’s Funding for Lending
Scheme
* ECB wants to make sure new money flows to real economy
* NOTE: Pimco says yday if CPI shows sign of undershooting 1%
in 2014, ECB may offer another LTRO maturing beyond 1Q 2015
* NOTE: ECB cuts CPI forecasts for 2013-2014
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--Editor: Patricia Lui
To contact the reporter on this story:
Stefania Spezzati in Milan at +39-02-8064-4216 or
sspezzati@bloomberg.net
To contact the editor responsible for this story:
Deborah L Hyde at +44-20-3216-4829 or
dhyde10@bloomberg.net
2013-12-05 15:21:09.614 GMT
By Stefania Spezzati
Dec. 5 (Bloomberg) -- New ECB forecast doesn’t imply ECB is
seriously contemplating the use of unconventional monetary
policy, Thomas Kressin, head of European foreign exchange at
Pimco, says in interview.
* EUR may continue to move gradually higher
* A new LTRO is unlikely; would be conditional on banks on-
lending funds to real economy
* ECB thinks along the lines of BOE’s Funding for Lending
Scheme
* ECB wants to make sure new money flows to real economy
* NOTE: Pimco says yday if CPI shows sign of undershooting 1%
in 2014, ECB may offer another LTRO maturing beyond 1Q 2015
* NOTE: ECB cuts CPI forecasts for 2013-2014
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
--Editor: Patricia Lui
To contact the reporter on this story:
Stefania Spezzati in Milan at +39-02-8064-4216 or
sspezzati@bloomberg.net
To contact the editor responsible for this story:
Deborah L Hyde at +44-20-3216-4829 or
dhyde10@bloomberg.net