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Not taper time yet, but getting there-IMF Vinals

Thursday, Dec 12, 2013 - 04:29

Dec. 12 - A banking union is good news for the EU, says the IMF's Jose Vinals. And in the U.S., Fed economic stimulus shouldn't be withdrawn right away, but things are going in the right direction. Rough Cut (no reporter narration).

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What are your opinions of the deal that cost truck can map Brussels late last night. Well I think I can I think that diesel thing that needs to be. Yeah. -- you don't need to be further and made official. So we are now what do we know there are certain attract millions of things and where I'm officially commented on and so once. But I think if I DN. Do you deal. He's two -- that he has single a common solution funds to book. Help thinking that -- solution oh thanks so I think he -- could use a candidate he's a need to. And neutralize that risks to a certain extent in order to support dissing Google for solution mechanism so I think this is a step in the right direction. You think that is absolutely crucial that there is a mutual recession -- -- -- I think that you need not only a single and a supervisor. But a single resolution mechanism. And a single. Fund. That is common in that would be use to help reduce instances where a solution needs to be made. There you get home caring Frankfurt ECB cut interest rates to record low of focal point 25% in November. Do you think they still have room to cut rates further or have some other options. But I think that the ECB and they hit some of these themselves Haas instruments available. Two of montagne. He said needed or even to increase it further and it's true that do you media we are seeing that economic conditions really improving. I still do quite. So do you. And that inflation he's quite far from the objective policy ECB. So I think that US ECB has all the means at its disposal. To continue providing further monetary accommodation. -- if you look. More specifically had to endure and certain measures for example negative to positive traits has been talked about politics and largely untested no matter what what is your opinion tonight. I think that. Even if it's true that there are -- many experiences with that needs to postage rates. I think that he did if you would to be implemented he -- very clear signal a commitment. -- the ECB to do whatever it takes to getting inflation closer. To wait to -- came -- his intricate and very positive thing in fact. How about it quantitative easing that is something that has been done by. And and other largest major central banks in the world including Bank of England. The Fed. Bank of Japan do you think basically should follow these banks also and that. Well I. Think that if I had to me my old girls to sinks then -- -- appropriate to discuss. I -- -- -- they've improved its that was immediately if an older long term refinancing operation but this time -- some. Conditionality. Regarding the use of funds for provision of credit. Turn into the US the economy there has been. Giving some encouraging signs do you think it sent the right time for the Fed to start -- I think that the Fed should start tapering only. When they're convinced that the economic recovery sooner sufficiently strongly in the -- sustainable basis. This is something that hasn't happened yet. But tell us new date our core meaning these -- are more positive also continue its policy -- what happened just today in terms of the agreement. In Capitol Hill regarding the fiscal. The fiscal -- so all of these things are hiding out in the policy direction now -- it did bring me something we should. Should start before the end of the year or sometime. -- India. Indeed India. First start of 201014. He something that the Fed will need to decide. Depending on their own evaluation of a number of economic indicators. That seems to conceive a more promising now. Down and it was a case a few months ago when the Fed decided not to -- -- it was widely expected that they've taken in September.

Not taper time yet, but getting there-IMF Vinals

Thursday, Dec 12, 2013 - 04:29

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