Orphanides Says ECB Will Cut Benchmark Rate At Minimum (Audio)

Athanasios Orphanides, former governor of the Central Bank of Cyprus and former member of the European Central Bank governing council, says the ECB will implement a rate cut when it meets to set policy next week, as well as some other easing measure, ideally a broad-based quantitative easing strategy based on sovereign debt purchases. Orphanides, professor of the practice of global economics and management at MIT’s Sloan School of Management, says the ECB’s balance sheet is currently contracting, which is tantamount to tightening. Orphanides speaks with Bloomberg’s Vonnie Quinn on Bloomberg Radio’s "The Hays Advantage" from the conference, entitled “Frameworks for Central Banking in the Next Century” which took place at Stanford University.

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