State Street : Reacts to European Central Bank Interest Rate Decision
July 25, 2016 at 05:52 pm EDT
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LONDON and BOSTON - July 21, 2016- In light of today's interest rate decision from the European Central Bank (ECB) Tim Graf, head of macro strategy - Europe at State Street Global Markets, and David Furey, Portfolio Strategist, Fixed Income, Cash & Currency at State Street Global Advisors, offers their views.
Tim Graf: 'As we expected, the ECB held to their current set of policies. We were a bit surprised by the relatively upbeat take on current events and their impact on inflation and inflation expectations. While we think they will stand pat on major innovations for now, as previously announced programmes unfold, we suspect the need to ease may emerge later this year.'David Furey: 'Uncertainty over the impact of the referendum result is more on degree rather than direction, and so it is surprising that this was not reflected in a view that risks are skewed to the downside.'
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $27 trillion in assets under custody and administration and $2 trillion* in assets under management as of March 31, 2016, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street's website atwww.statestreet.com.
*Assets under management were $2.30 trillion as of March 31, 2016. AUM reflects approx. $32.6 billion (as of March 31, 2016) with respect to which State Street Global Markets, LLC (SSGM) serves as marketing agent; SSGM and State Street Global Advisors are affiliated.
Important Information
This press release is provided for informational purposes only and should not be considered investment advice. Any such views are subject to change at any time based upon market or other conditions and State Street disclaims any responsibility to update such views. Neither State Street nor the speaker can be held responsible for any direct or incidental loss incurred by applying any of the information offered. Please consult your tax or financial advisor for additional information concerning your specific situation.
State Street Corporation published this content on 25 July 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 July 2016 21:51:07 UTC.
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