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Roubini: ECB Interest Rate @ 3% in 2012
Dr. Doom — or as he likes to call himself nowadays Dr. Realist — Nouriel Roubini mentioned in his recent speech that he expects interest rates in Europe to rise
significantly, with an increase from 50 to 75 bps in 2011 and possibly
topping 3% in 2012!
The differences between the Fed and the ECB could be destabilizing in the longer run.
Other highlights from the speech, via Forexlive:
- Greek debt level to GDP is at “level of insolvency”
- Irish govt rescue package aimed at saving banks risks deepening country’s debt crisis
- Sees US house prices declining in next few months
- China faces risk of “hard landing” in three years
A few days ago, Arnab Das, Managing Director of Market Research and
Strategy at Roubini Global Economics was already talking about rate
hikes from the ECB on CNBC:
We guess Roubini wants to see some European countries on their knees.
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Onward USD carry trade!
Mr.Market will have an abrupt shutdown....
The central bankers are beginning to realize they're not the ones driving the bus.
Mr. Market decides where to go, and Mr. Market is not concerned with collateral damage.
JS - Its "Portuguese". Not "Portugese" (American-italian version) . Wonder were this Roubi(sh)ni thinks US rates will be in 2012... 5%, 8%, 12%... just a thought!
No.
Its PortuGEESE.
@Tyler: first comment??? second??? IMHO..we need some housekeeping here!
don't you like poetic rhyme?
I didn't watch the video because this condescending elitist makes me puke. But at least savers might start to get more than 1-2% on their EUR CDs rather than being royally shafted with negative interest rates. Raise away ECB and f** the periphery - pardon my Portugese.
If they are giving away 3% on CD's it usually means inflation is around 8-10%. Doesn't matter what happens. Savers get screwed regardless.
That's the strategy. Raise rates slowly and say "Look savers rates are going up!!". Meanwhile inflation will be galloping way ahead and real interest rates will remain negative. Forget CDs, buy inflation hedges.
Fed would love EUR/USD 1-to-5 exchange rate.
LOL. maybe Bendonkey is trying to see if ECB will hire him if the gig fails in the USA. They will hang Ben in the USA and he needs another country he can feast on.
LOL. Probably they will hire Bendonkey to claim that everything is contained while Greece and other Pigs are falling apart.
can someone please explain why bonds in us aren't tanking TODAY?
TBT should be way up instead of way down!
How about your mom on her knees? Fuck europe and fuck you!
I AM CHUMBADUMBA! LOLOLOL!!
Understandable, when one is getting shafted...by the bumba...by a bad chum...supposed to be a friend of mom, but in reality a dumb, betty boop tootsie hummer, a sad pedo-bummer, a sly fly in the eye mom on table bamboozler, a gang-zoozler from bang doodler, a no pry but deep fry wok sizzler, a wet hand grenade for tar sands brigade no pop caboodler, a silent fart in a dart board cavort, a without a doubt deep wart abort. A sucker for congressional barmitzvah medal...a banksta with a smooth tongue making a stinger out of a shy nun. A honey bun ready to eat sour kraut to snob a frankfurter on a mad boner run. A juicy hamburger slab, french perfumed, dressed like a bimbo, climbing a curtain to make a drooling slob out of a pin striped knob on the job of poking a polka dotted widow to cough up her dough in front of a mirage of holy green backed smoke. A merry go round of every act in town that rhymes with porno-utopia and sings of cornucopia. A man for all seasons like a dog for all wars.