El-Erian Says No Appetite to Raise Rates in 2012: Tom Keene

Policy makers are unlikely to raise borrowing costs in 2012, with benchmark rates to stay at or close to zero in the U.S. and Europe, according to Pacific Investment Management Co.’s Mohamed A. El-Erian.

Pimco advises investors stay in the five- to nine-year range in bonds for safety and to earn income, El-Erian, chief executive and co-chief investment officer of the world’s biggest manager of bond funds, said in a radio interview today on “Bloomberg Surveillance” with Tom Keene and Ken Prewitt.