Sylvain Broyer This is Me

 Web References

1. 1. Forex Trading with Forex Club International - Analyses

   www.fxclub.com/review/r794.htm - [Cached]

   Published on: 10/18/2003   Last Visited: 11/12/2006

   Sylvain Broyer, European economist with IXIS Corporate and Investment Bank in Paris, said inflation levels could still decelerate even more.
   
   "The low point on inflation is still in front of us. Euro zone inflation could reach 1.6% in October and stay under the ECB's price stability threshold (of 2%) until the end of the year," Broyer said.
   
   But, ING's Sonntag said, "this phenomenon is likely to be temporary."
   
   "As recent data suggests, the deceleration in 2007 might not be as severe as previously feared and with inflation inching back above 2% in the medium-term, the ECB will remain 'en garde' and feel convinced that the normalization process should be pursued," he said.
   
   He is looking for rates to rise to 3.75% in the first quarter of next year before the ECB enters a 'wait-and-see' mode.
   
   Calyon's Kotecha is also looking for a peak in euro zone rates at 3.75% and suggests that this has yet to fully discounted in euro zone interest rate futures.
   
   "The ECB still appears determined to get interest rates back to neutral and its rhetoric suggests it remains confident on the outlook for activity," he said.

2. 2. Forex Trading with Forex Club International - Analyses

   www.forexclub.org/review/r794. - [Cached]

   Published on: 10/18/2003   Last Visited: 11/5/2006

   Sylvain Broyer, European economist with IXIS Corporate and Investment Bank in Paris, said inflation levels could still decelerate even more.
   
   "The low point on inflation is still in front of us. Euro zone inflation could reach 1.6% in October and stay under the ECB's price stability threshold (of 2%) until the end of the year," Broyer said.
   
   But, ING's Sonntag said, "this phenomenon is likely to be temporary."
   
   "As recent data suggests, the deceleration in 2007 might not be as severe as previously feared and with inflation inching back above 2% in the medium-term, the ECB will remain 'en garde' and feel convinced that the normalization process should be pursued," he said.
   
   He is looking for rates to rise to 3.75% in the first quarter of next year before the ECB enters a 'wait-and-see' mode.
   
   Calyon's Kotecha is also looking for a peak in euro zone rates at 3.75% and suggests that this has yet to fully discounted in euro zone interest rate futures.
   
   "The ECB still appears determined to get interest rates back to neutral and its rhetoric suggests it remains confident on the outlook for activity," he said.