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Rate cuts good, but 'clarity' over global issues better for business: Citi CEO

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MANILA - As central banks around the world cut interest rates to boost their economies, the head of one of the world's largest financial companies said interest rates can only do so much and businesse

MANILA - As central banks around the world cut interest rates to boost their economies, the head of one of the world's largest financial companies said interest rates can only do so much and businesses want "clarity" more.

"We can have the conversation in terms of whether or not quantitive easing in some places has overstayed its functionality," Corbat said in an exclusive interview with ANC's The Boss. He said the financial industry was particularly affected, as interest rates in Europe are already negative.Besides not being able to charge fees for holding clients' money, businesses also don't necessarily borrow more because rates are low, he added. Despite the uncertainties over trade issues, the global economy remains resilient, Corbat said, thanks to consumption.

 

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