New Economy Forum

UBS, DBS Top Executives Warn That High Inflation May Stay

WATCH: NYSE President Cunningham, DBS CEO Gupta, PIMCO Vice Chairman Studzinski and UBS Chairman Weber share their take on the inflation debate.Source: Bloomberg

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By Patrick Winters and Ameya Karve

November 17, 2021 at 3:00 AM UTC

Updated on

November 17, 2021 at 3:48 AM UTC

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The heads of two global banks predicted an uncertain time ahead for the world economy as inflation rises and persists.

The world may see “uncomfortably high” rates of inflation for one to three years, UBS Group AG Chairman Axel Weber said at the Bloomberg New Economy Forum in Singapore Wednesday. Inflation is getting a lot more structural, DBS Group Holdings Ltd. Chief Executive Officer Piyush Gupta said at the event.