SocGen’s Cabannes Wants Rate Cut in December

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Nov. 07 (Bloomberg) -- Bloomberg’s Caroline Connan reports on Societe Generale’s earnings and what their Deputy CEO is expecting from the ECB. She speaks on Bloomberg Television’s “On The Move.” (Source: Bloomberg)

French banks and monitoring and those issues.

That's right, manus.

Societe generale, france's second largest bank, net number missed stims.

It still rose compared to last year.

The shares are rising at the moment.

Socgen is concerned about the deflation risks in europe.

I asked -- whether they needed to increase capital in order to pass the next round of e.c.b. stress tests and the need for deflation.

I think the part is the trust and confidence.

All the different players in the euro-zone.

How can we increase confidence in europe today?

At one point, which is very positive, the -- review and the stress test process which is launched by the e.c.b. to really improve or increase the confidence in the european banking system which could lead probably to a better -- in terms of boost for europe.

Is it -- pass the liquidity review in the next run of stress tests?

We are confident in this -- this test next year.

You would not need to raise any capital in order to pass this next round of stress tests?

No.

do you believe there is a risk of deflation the euro-zone?

Confident that the e.c.b. will make the right decision to avoid the deflation risk.

We are confident in the fact that the euro-zone would -- take a positive course.

Inflation was at 0.7% last month.

Is it too low?

Probably yes and probably the e.c.b. will have to make a decision.

Would you be in favor of a rate cut at the december meeting?

Yes.

Yes, societe generale is in favor of a rate cut at the december meeting of the e.c.b. and no -- will not need to raise capital in order to pass the next round of stress tests.

December, the next g.d.p. figures and also its own inflation forecast.

Back to you.

Well done.

To get a c.e.o. of a bank to give you a one-word answer on rates.

Joining us now to discuss his outlook for commodities is the global head of commodities research at goldman sachs.

He joins us now from the natural resources conference in london.

Great to have you with us on "on the move" this morning.

I want to kick it off on a global base is.

Tapering predicates what happens to the dollar.

I want to get a sense from you, are we just too excited that we're going to see taper pushed out further and sfwurte 2014? -- further into 20 2014? i think it is important to distinguish the direct versus the indirect.

The ones that have a direct impact would be the precious metals and not the industrial metals.

Your concern about too much optimism was priced in those issues.

That's right, manus.

Societe generale, france's second largest bank, net number missed stims.

It still rose compared to last year.

The shares are rising at the moment.

Socgen is concerned about the deflation risks in europe.

I asked -- whether they needed to increase capital in order to pass the next round of e.c.b. stress tests and the need for deflation.

I think the part is the trust and confidence.

All the different players in the euro-zone.

How can we increase confidence in europe today?

At one point, which is very positive, the -- review and the stress test process which is launched by the e.c.b. to really improve or increase the confidence in the european banking system which could lead probably to a better -- in terms of boost for europe.

Is it -- pass the liquidity review in the next run of stress tests?

We are confident in this -- this test next year.

You would not need to raise any capital in order to pass this next round of stress tests?

No.

do you believe there is a risk of deflation the euro-zone?

Confident that the e.c.b. will make the right decision to avoid the deflation risk.

We are confident in the fact that the euro-zone would -- take a positive course.

Inflation was at 0.7% last month.

Is it too low?

Probably yes and probably the e.c.b. will have to make a decision.

Would you be in favor of a rate cut at the december meeting?

Yes.

Yes, societe generale is in favor of a rate cut at the december meeting of the e.c.b. and no -- will not need to raise capital in order to pass the next round of stress tests.

December, the next g.d.p. figures and also its own inflation forecast.

Back to you.

Well done.

To get a c.e.o. of a bank to give you a one-word answer on rates.

Joining us now to discuss his outlook for commodities is the global head of commodities research at goldman sachs.

He joins us now from the natural resources conference in london.

Great to have you with us on "on the move" this morning.

I want to kick it off on a global base is.

Tapering predicates what happens to the dollar.

I want to get a sense from you, are we just too excited that we're going to see taper pushed out further and sfwurte 2014? -- further into 20 2014? i think it is important to distinguish the direct versus the indirect.

The ones that have a direct impact would be the precious metals and not the industrial metals.

Your concern about too much optimism was priced in immediately after the government shut down.

We saw a modest rally.

This text has been automatically generated. It may not be 100% accurate.

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