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Will G7 meet solve global credit crisis? Experts react

Published on Mon, Oct 13, 2008 at 09:38   |  Updated at Mon, Oct 13, 2008 at 10:08  |  Source : CNBC-TV18
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Leaders from the G7 and the G20, as well as the Euro zone, met over the weekend to discuss ways to try to recover from the credit crisis. How are they going to impact equity markets going forward? Experts react:

 

Jeffrey Halley, Senior Manager, FX Trading Saxo Capital Markets said, "I think it's positive news over the weekend. Central banks around the world have united to solve the problem. Japan has offered its reserves to the IMF to help out any countries that needs it. So, we are seeing quite a global response here. I think we have to see the nuts and bolts of it get enacted during the week, but overall it's very good news.

 

Ben Pedley, MD and Investment Strategist, LGT Investments Management said, “I personally would be telling clients who are still holding onto equities and don’t feel comfortable that this is a rally to sell into. I don’t see any signs yet that the credit market situation is going to improve."

 

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