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Beecroft: The ECB never ceases to surprise
The ECB never ceases to surprise which it comes to failing to ease appropriately. That's according to the Chairman of Saxo Capital Markets, Nick Beecroft. Nick says if he were in charge, rates would have been cut and we can expect full blown QE by the middle of the year.
The European Central Bank left all its main interest rates unchanged on Thursday. Its president, Mario Draghi, dismissed talk of deflation but did admit that inflation would be low for some time. He referred to the "complexity" of the global financial situation and the need to gather more information as to why the ECB hadn't taken more decisive action.
Nick Beecroft says he'd be cutting rates immediately and would have considered taking the deposit rate into negative territory. He's also predicting the ECB will be forced into bringing in much more monetary easing policies by the middle of the year because the difference between the Eurozone and the US economies will be stark.
01:57 minutes
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