- Says fed has room to ease monetary policy further given low inflation, high unemployment .
- Says major central banks should ease policy more.
- U.K. central bank should consider buying assets other than gilts.
- Says ECB should cap rates on Italian and Spanish bonds .
- Italy and Spain bond markets experiencing a “slow panic”.
- Italian and Spanish yields don’t reflect fundamentals .
- Says too soon to say whether UK’s ‘funding -for -lending ‘ scheme producing results.
- Fed may not be able to to mimic UK funding for loans plan .
- Says criticism of QE is exaggerated ., easing can substitute for rate cuts .
- ECB bond buying is within mandate .
And it begins
