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DBS CEO underscores psychological impact of negative rates

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From left: DBS head of consumer banking and wealth management Tan Su Shan (moderator), Committee on the Future Economy member Harish Manwani, SPH Deputy CEO Anthony Tan, Insead dean Ilian Mihov and SBF vice-chairman Gautam Banerjee.

Singapore

THE negative interest rate environment in two-thirds of the world, including most of Europe and Japan, are spooking global markets not just because of its impact on the financial sector - below zero rates hurt banks' profitability - but it also affects the "psychology" on what