Negative rates push central banks to take more risk

London

NEGATIVE interest rates in the developed world have forced central bank managers to take more risks as they strive to maintain the value of the trillions of dollars worth of assets they hold in reserves, a survey showed on Tuesday.

The poll of 77 managers, responsible for reserves worth US$6 trillion, also showed some 32 central banks are now invested in China's renminbi, up from 20 a year ago, before the decision to add it to the IMF's SDR basket of reserve currencies.