Standard Chartered Chief Executive BillWinters expects central banks’ fight against surging inflation, driven by structural cost pressures such as wage growth. Moneyweb StanChart Banking
Standard Chartered Chief Executive Bill Winters expects central banks’ fight against surging inflation, driven by structural cost pressures such as wage growth, to result in a “relatively shallow and short” recession by early next year.
Comparing Singapore’s quick return to pre-pandemic norms, Winters said he expected the bank to return to “good solid growth in China and Hong Kong” once restrictions on travel and consumer activities were relaxed. Winters described the job market as extremely competitive and said wages were also on the rise. With the bank’s headcount near 2019-levels, there was no “belt tightening” in prospect, he said.
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