Sunday, March 20, 2016

Roubini : Japan is not at the center of Global concern

"Japan is not at the center of global concern as such, but certain policy decisions including the BOJ adopting a negative interest rate recently have had a ripple effect following similar moves in Europe, with banks there also going negative," Roubini, also a professor of economics at New York University's Stern School of Business, explained.

"The notion of a negative interest rate started to have bad connotations and in Europe has killed banks' net income margins, which is ineffective and could be counterproductive," the Istanbul-born American said at the Foreign Correspondents' Club of Japan (FCCJ), although added that the use of minus interest rates by central banks "shouldn't be entirely ruled out."

Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

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