Economics
UBS Chairman Weber Says Coronavirus Effects Are Underestimated
- Central banks need to help businesses survive impact of virus
- Weber speaks about UBS CEO succession decision made this week
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UBS Group AG Chairman Axel Weber said markets are underpricing the risk that the coronavirus poses to the global economy.
“There is going to be quite a bit of impact that is going to go beyond the first quarter and that is where fiscal response, providing businesses with some tax relievers, some emergency funding, that is going to be very important for putting businesses through,” Weber said in a Bloomberg TV interview during the G-20 Summit in Riyadh.