Group believes ECB must lower rates as part of moves to kick-start economy
Michael Karagianis, head of global strategy at Aberdeen, told more than 100 non-executive director's of the group's closed-ended funds that although the US has to be the driving force for any kind of recovery, other regions have to play their role. Speaking at the group's investment trust conference, Karagianis said that up until now, the European Central Bank (ECB) has been far too cautious about reducing interest rates due to the perceived threat of inflation. He said: 'While inflation in some European countries is currently above the ECB's target levels, these are backward looking. T...
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