Jim Rogers |
CGTN:
More central banks have cut benchmark interest rates to cushion economies from an outbreak fallout, including the U.S. Federal Reserve which cut rates to near zero on March 15. But China's People's Bank of China (PBOC) held rates steady.More at CGTN.
Jim Rogers, renowned international investor who praised the Chinese central bank for doing a better job than the western central banks, said that the "interest rate going to zero is not going to cure the virus and the economy."
As the U.S. and Europe are now hit hard by the virus, "we are going to have to wait until they put a lot of quarantines and tight measures to slow down the virus, whether it will take weeks or months, and then maybe they can start to loose up and do business again," Rogers said.
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