Deutsche Bank CEO calls on ECB to ‘end era of cheap money in Europe’

EU-Euro-Europe-Eurozone-700x450.jpgDeutsche Bank’s chief executive John Cryan has called for the European Central Bank to move towards tightening monetary policy ahead of their meeting in Frankfurt tomorrow.

Cryan added that he sees Frankfurt as the prime location for a financial hub as the Brexit process prompts banks to relocate from London.

“The era of cheap money in Europe should come to an end – despite the strong euro,” Cryan said at an event in Frankfurt, Reuters reports.

Some economists expect ECB members to further lean towards a QE tapering announcement in October at the meeting tomorrow. A poll of 63 economists by Reuters at the end of August revealed almost three quarters expect the ECB to announce further tapering of QE in October.