T. Rowe Price: Do not underestimate central banks' power
Recession due but will be relatively mild
T. Rowe Price's Nikolaj Schmidt
A recession is likely three years off but will be less severe than those in 2008 and 2001, according to T. Rowe Price's chief international economist.
Bucking consensus views that central bank rate cuts are no longer effective in stimulating global growth, Nikolaj Schmidt said while the central banks may have less room to manoeuvre, they were not "impotent"....
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