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08-01-2016, 04:32 PM
DBS chief's view on 2016. The "currency wars" and "Yuan" are the key words...
Expect currency wars in 2016, DBS chief warns
08 Jan 2016 09:00
By Melissa Tan
2016 will be a year of "currency wars" and a yuan depreciation could lead to more corporate defaults by unhedged Chinese companies, DBS CEO Piyush Gupta warned on Wednesday, adding that he thinks the greenback could start to weaken as early as the second quarter.
The Singapore economy will also go through "perhaps the trickiest and most sensitive time in its economic transformation that we'll see for a long time", he told DBS private bank clients at a luncheon at the Ritz-Carlton, Millenia Singapore hotel.
In a 20-minute talk, Mr Gupta said he expects China to let the yuan depreciate and the US dollar to possibly weaken in the second half of the year, while Europe and Japan pursue an "easy monetary policy".
"I think if you had to put a label on 2016, I would say this is going to be a year of currency wars. I think everybody, by the end of the year, will all be trying to weaken their currency.
...
Source: Business Times
Expect currency wars in 2016, DBS chief warns
08 Jan 2016 09:00
By Melissa Tan
2016 will be a year of "currency wars" and a yuan depreciation could lead to more corporate defaults by unhedged Chinese companies, DBS CEO Piyush Gupta warned on Wednesday, adding that he thinks the greenback could start to weaken as early as the second quarter.
The Singapore economy will also go through "perhaps the trickiest and most sensitive time in its economic transformation that we'll see for a long time", he told DBS private bank clients at a luncheon at the Ritz-Carlton, Millenia Singapore hotel.
In a 20-minute talk, Mr Gupta said he expects China to let the yuan depreciate and the US dollar to possibly weaken in the second half of the year, while Europe and Japan pursue an "easy monetary policy".
"I think if you had to put a label on 2016, I would say this is going to be a year of currency wars. I think everybody, by the end of the year, will all be trying to weaken their currency.
...
Source: Business Times
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