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Javier Navarro, Director of GBS Finance in Valencia, talks about interest rates

The pressure on the stock exchanges has increased recently due to a number of factors. On one hand, the price of crude oil remains high due to geopolitical tensions with Iran and, on the other, there are fears of a possible low acceptance of the exchange plan for the Greek debt.

We believe that if the ECB does not lower rates agin this week it is because of the effects of last week’s LTRO II. But rates will be lowered by 50 basic points in future meetings, reaching 0.5%, as economic and labor market growth in Europe is still very weak.