Bloomberg Talks Banco Santander Chair Ana Botin Talks "Soft Landing"
Apr 19, 2024
Banco Santander Chair Ana Botin discusses the global economic outlook and geopolitical risks in international banking. Topics include inflation, employment, differences in terminal rates between Europe and the US, strategies for managing higher terminal rates, and global banks' approaches to net interest income planning.
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Global Economy Achieved A Super Soft Landing
- Despite geopolitical crises, Ana Botín says the macro picture is better than feared with falling inflation, ongoing growth and very high employment.
- She describes the outcome so far as a "super soft landing" compared with expectations a year ago.
Geopolitics Is The Primary Economic Risk
- Geopolitical risks and rising protectionism are now the primary threats to growth and supply chains.
- Botín warns these trends create structural inflation and require businesses to prioritize security and diversification.
Prioritize Secure, Diversified Supply Chains
- Prioritize security and diversification when managing supply chains and strategic planning.
- Balance affordability with security while also managing the green transition, Botín advises.