About Us  |   Contact Us  |   Register  | Login  |   

Follow HedgeWorld on Twitter HedgeWorld on LinkedIn






HEDGEWORLD NEWS
Search the News
Advanced News Search
HedgeWorld News by Region
United States / Americas
Europe
Asia / Australia
International
HedgeWorld News Sections
Managed Futures & Derivatives
Daily News
Regulatory/Legal
Strategies/Analysis
Technology
Opinion
People
Indexes
Other News Features
Most Popular
LexisNexis Headlines
Reuters Headlines
The HedgeWorld Blog
Alternative Advantage Daily Newsletter
RSS Service
Sign Up For Email News Alerts
Reprints



UPDATE 1-ECB's Noyer: Markets overreacted to US stimulus comment
06/21/2013 Email this story  |  Printable Version

(Adds quotes)

PARIS, June 21 (Reuters) - ECB governing council member Christian Noyer said on Friday that markets had overreacted to the prospect of reduced U.S. monetary stimulus, adding it was a sign that the economy was getting back on track.

Noyer, who serves as head of the Bank of France, also said the French economy was showing signs of improvement but that he was not certain it would avoid recession this year.

"In my view the reaction of the markets was excessive and I think things will get back to normal relatively quickly," Noyer told French news channel LCI.

European stocks fell on Thursday after U.S. Federal Reserve Chairman Ben Bernanke confirmed the Fed would begin winding down its quantitative easing programme later this year, fuelling a worldwide selloff in stocks, fixed income and commodities.

"Central banks will one day have to go back to more traditional, normal, monetary policy and this means that economies are getting back to normal," Noyer said.

Asked to comment on the French economy, which is expected by the INSEE statistics office to shrink by 0.1 percent this year after posting zero growth last year, Noyer said he could see signs of improvement.

"I am seeing the beginning of an upturn and an acceleration, a very slow one...It's going in the right direction," he said.

But he added it was not yet certain that France would be able to avoid a recession in 2013.

"We began the year negatively...What is important is if we end the year in positive territory." (Reporting By Lionel Laurent; editing by John Irish)


Email This Story to a Friend   |   Display Printable Version of This Story

Story Copyright © 1999-2014 Reuters HedgeWorld All rights reserved.

HedgeWorld News is sponsored by:






Lipper    Privacy   User Policy  Legal Disclosure Copyright/DMCA  Site Map    FAQ    Glossary  Thomson Reuters for Hedge Funds
All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of HedgeWorld content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. HedgeWorld is a registered trademark of Thomson Reuters.