Bond investor Bill Gross on Monday criticized ultra-low interest rates, saying they could harm global growth instead of boosting it in the way that many central banks intend. "Low interest rates globally destroy financial business models that are critical to the functioning of modern day economies," Gross, who oversees the Janus Global Unconstrained Bond Fund , wrote in his monthly investment outlook. "Negative/zero bound interest rates may exacerbate, instead of stimulate, low growth rates ... by raising savings and deferring consumption," he wrote. Central banks around the world, particularly in developed markets, have slashed interest rates in recent years to boost sluggish growth.
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