Super investor Jim Rogers discusses the monetarian measures by Western central banks, while in China their colleagues have not lowered interest rates to fight the effects of the coronavirus. In Europe and the US they have not even started to fight the virus and we have to see how that works out, he tells at CGTN.
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.
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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