ECB Needs Reforms, QE Not Enough: Poole

The transcript discusses global economic stimulus efforts, focusing on the actions of the BOJ, ECB, and Fed. It examines the impact of these actions on currencies and interest rates, particularly the yen and euro. The discussion also covers fiscal policies in Europe, highlighting the need for economic reforms and the challenges posed by deflationary risks. The global recovery is analyzed, with a focus on asset allocation strategies, emphasizing equities, credit, and real estate as attractive investment options.

What is the main reason for the BOJ's larger stimulus compared to the Fed's program?

• The BOJ's program is larger relative to Japan's economy size

• Japan's economy is smaller than the US

• The Fed has already completed its QE program

• The BOJ is more aggressive in its policies

Why is QE considered less effective in Europe compared to the US?

• Europe has a market-led finance system

• Europe's economy is larger

• The ECB has a different mandate

• Europe relies on a bank-led finance system

What is the primary reason for the UK's faster growth compared to the rest of Europe?

• Higher fiscal deficit and stimulus

• Stronger currency

• More advanced technology

• Better trade agreements

What is a significant challenge for Japan's economic growth?

• High inflation rates

• Trade deficits

• Lack of technological advancement

• Demographic changes and public sector debt

What is the ECB's inflation target?

• Slightly above 2%

• Exactly 2%

• Slightly below 2%

• No specific target

Which countries in Europe are identified as needing significant economic reforms?

• Portugal and Ireland

• UK and Greece

• Germany and Spain

• France and Italy

In terms of asset allocation for 2015, which region is considered overweight in equities?

• Africa

• Latin America

• Asia

• Eastern Europe