There were a few commentators speculating about interest rate cuts at the start of the month.
Well since then european bond prices have plunged showing that rates are only going in one direction -UP!
& indeed this is the growing consensus among ECB bankers.
Prof. Shiller at Davos today said that the housing market bubble didn’t need higher rates to burst. It seems that everything is falling into place and his projection that the bubble would last a max. of 12 months seems highly authoritative.