Lose That European Attitude
Recession fears are dominating talk at the World Economic Forum underway in Davos, Switzerland. Will Europe continue to resist lowering interest rates even if it means the risk of a full-blown recession?
I think the ECB is behind the curve, says Tim Seymour. Interest rates in developed Europe are a lot higher than they are in the US.
So far Europe has been reluctant to cut rates, he says. Part of the issue is that there are conflicting views across 9 or 10 countries driving divergent points of view. Germany had been quite dominant and they’ve been very cautious about inflation.
If the ECB does cut interest rates I think the play is Turkey. Look at both Turkish Investment Fund (TKF) and Turkcell Iletisim Hizmetler (TKC), he counsels.
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