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India is our big bet for five years, not just six months: Julius Baer's Mark Matthews

Talking about crude oil prices, Matthews said that production cuts from OPEC+ will lead to a surge in prices, which will eventually lead inflation higher

October 07, 2022 / 09:17 AM IST

Mark Matthews, managing director at Julius Baer, said that India is their 'big bet' for a long period of five years and not just for six months, and they would continue to invest in Indian markets.

In an interview to CNBC-TV18, Matthews said global markets are in constant fear amid hawkish commentary by major central bankers against the backdrop of record-high inflation.

He also believes that if at all global markets were to enter a recession, its impact would be mild due to ample availability of jobs worldwide.

"Even if we got a recession, I think it'll be a mild one because the labour market is still so strong. There's still 1.7 jobs available for every one unemployed person looking for work ... so either we're gonna have a mild recession, or we won't have a recession," he explained.

Talking about crude oil prices, Matthews said that production cuts from OPEC+ (Organization of the Petroleum Exporting Countries) will lead to a surge in oil prices, which will eventually lead inflation higher.

"As for the oil price, $100 a barrel is possible given the production cuts from OPEC," he said. "This certainly makes one less confident about headline inflation going down because the major reason for the headline inflation going down was the (decline in) oil price."

 
Moneycontrol News
first published: Oct 7, 2022 09:17 am