Standard Chartered’s Winters says ‘gloom’ over economy arguably overdone

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China Development Forum in Beijing

DUBAI (Reuters) – Standard Chartered Chief Executive Bill Winters said on Tuesday it was appropriate to be cautious in the current economic conditions, but the pessimism was probably too much.

“Of course there are difficult times ahead with inflation hitting full force, with interest rate impacts coming, with central banks organising a slowdown in growth – but there’s plenty of signs for encouragement as well,” he said.

“So on balance, yeah I’d say it’s appropriate to be cautious right now. But the gloom, arguably, is overdone,” he added at a conference in Riyadh.

(Reporting by Yousef Saba; Editing by Andrew Cawthorne)