De Blonay: No stimulus until markets fall 15% further

Jupiter's Guy de Blonay said markets may have to plunge a further 15% before "complacent" policymakers look to more QE.

The manager of the £696m Jupiter Financial Opportunities fund said that complacency has led to the absence of a clear path forward, but suggested markets will ultimately force the hands of governments and central banks. "Last year we said true quantitative easing had to be done in Europe, and the sterilising of asset purchases was not going to be helpful. But the ECB is clearly not in favour of this at the moment". De Blonay suggested the picture may alter slightly on 1 November, when ECB president Jean-Claude Trichet steps down to be replaced by Italian central bank governor Mario Dr...