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Jain Sees End to Accomodative Monetary Policy in 2015

Jan. 29 (Bloomberg) -- Investors will probably have to prepare for an end to accommodative monetary policy in the first half of next year, said Deutsche Bank AG co-Chief Executive Officer Anshu Jain.

“Right now, we’re talking about tapering,” Jain, 51, said in a Bloomberg Television interview in Frankfurt today. “We’ve had a long period of very easy market conditions and as those ebb, understandably we will get some implications from that. We believe the end to easy monetary policy comes probably first quarter of 2015.”

Central banks have sought to bring their economies out of a recession since the 2008 financial crisis by buying sovereign bonds and flooding banks with cheap cash, driving debt yields lower and increasing demand for equities. A revival in economic growth has increased speculation that policy makers will start to tighten policy.

“We’ll have to keep an eye on the asset classes that have performed, which have revalued so significantly over the past two or three years, but I see the fundamentals there are still quite strong,” Jain said.

To contact the reporters on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net; Hans Nichols in Washington at hnichols2@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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