Aktuelle Frage im Economics Forum:
„Inwieweit beeinflusst das QE-Programm der EZB die Entwicklungen an den Kapitalmärkten und welche Auswirkungen erwarten Sie in Verbindung mit einem – sich weiter verbreitenden - Negativ-Zinsumfeld auf die Realwirtschaft und die Asset Management Industrie?“
Current Question in the Economics Forum:
“To what extent will the ECB’s QE programme influence the development and performance of capital markets and how do you assess the impact of QE and an increasingly widespread negative interest rate environment on the real economy and the asset management industry?”
Klicken Sie auf den entsprechenden Experten, um das gesamte Statement angezeigt zu bekommen:
Ken Orchard, Portfolio Manager, European Fixed Income, T. Rowe Price (19.02.2015):
"We believe there are some potential positive effects from the ECB’s asset purchases programme that could boost the Eurozone economy in the second half of 2015. Firstly, the euro is substantially weaker against almost all currencies this year. This should help boost Eurozone exports as a weaker currency makes them cheaper abroad.
Another potential impact from the ECB’s action is that it could take a lot of sovereign debt off banks’ balance sheets. Consequently, in order to maintain their profit margins, banks would be forced to increase lending to the private sector. Such a development could boost investment.
Overall, we expect the ECB’s action to continue to be supportive for riskier assets in Europe as government bond yields are likely to remain at low levels. As a result, investors in search of higher yielding assets could head further down the credit-quality curve in bond markets. Alternatively, they could decide to invest more of their money in stock markets, thus driving up European share prices."