The ECB keeps interest rates on hold at 1%. Despite widespread recession, bank president Mario Draghi says there will be no rate cut or stimulus any time soon.
Keith Wade discusses the outlook for the global economy.
Virginie Maisonneuve told CNBC, 'the LTRO was needed to really help the system go forward. We know this is an adjustment process that is going to be very long and we needed that injection of liquidity in order to get by'.
There is a distinction to be made between normal times and what we have seen so far, which is a pretty classic textbook multiple expansion-led rally against a backdrop of better economic data.
It is fair to say that 2011 was not the most auspicious year for global equity markets. The exuberant rallies, characteristic of markets in 2009 and 2010, made several flash appearances last year, but it was a much choppier picture overall and the overarching mood was one of caution and risk aversion.
Richard discusses the benefits of investing in Asian income strategies...
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