Perspectivas políticas monetarias bancos centrales- septiembre 2014

atixis Global Asset Management - Lunes, 01 de Septiembre

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·         Michael Gladchun, Fixed Income expert, Loomis, Sayles & Company: “We expect that the end of the Federal Reserve's bond-buying program in October will be a non-event with little impact on broader markets. The program's end has been very clearly telegraphed by the Federal Open Market Committee (FOMC), and thus markets have long been expecting the program to come to an end this fall…”

·         Philippe Waechter, Chief Economist, Natixis Asset Management

“Timing is everything. The main challenge for the Fed as it moves toward normalizing its monetary policy will be to avoid a repeat of 1937–1938, when after a few years of strong growth, policy was normalized and then economic activity collapsed…”

 

·         Laura Sarlo, European Sovereign Analyst, Loomis, Sayles & Company

“The Bank of England's Monetary Policy Committee (MPC) has indicated that it's edging closer toward raising short-term interest rates. Although we expect the MPC to move toward raising rates in coming quarters, we expect the Committee to be more patient with rates, given our view that credit policy has been tightening since November via the actions of the Financial Policy Committee…”

 

·         Chris Wallis, CEO, Equity Manager, Vaughan Nelson Investment Management

“Over the next couple of quarters, we think we’re going to see inflation come in a little hotter than what the market anticipates. We don’t think overall inflation is going to move so high that it will impact risk assets such as stocks. But what it should call into question is the Fed’s ability to maintain such an accommodative monetary policy…”

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