'The year of inflection': Top bank CEOs weigh in on inflation outlook
Publishing timestamp: 2023-01-17 07:12:25
Summary
Investors are cautiously optimistic on recent deluge of promising data from major economies, with inflation prints indicating that consumer price increases may be coming back to earth. Standard Chartered CEO Bill Winters and UBS CEO Ralph Hamers both suggested markets should wait for more rounds of key data points before determining that falling inflation has become trend. Winters noted that corporate and consumer balance sheets in U.S. are still in good shape, meaning economy can absorb higher rates more readily than in previous hiking cycles and suggesting Fed "has got way to go." He also pointed to recent "substantial outperformance of growth in emerging markets," which could be furthered as China reopens its economy and demand returns.
Sentiment: NEUTRAL
Tickers: STAN-GB, 0R3T-GB, UBSG-CH,
Keywords: business news, united states, davos, switzerland, banks, politics, davos - world economic forum, economic events, standard chartered plc, ubs group ag, breaking news: davos, world economy,