A group of powerful central bankers and finance officials ended the World Economic Forum on an optimistic note on Saturday, citing the stimulative effects of low oil prices and aggressive monetary policy in Europe.
"Some pessimism prevailing in Davos this year is a bit exaggerated," Haruhiko Kuroda, governor of the Bank of Japan, said on a panel Saturday in Davos, Switzerland. His remarks echoed those of BlackRock CEO Larry Fink said the tone of WEF this year was less optimistic than last.
Kuroda said the more than 50 percent drop in the price of oil "could accelerate global economic growth in coming years." He also said that the European Central Bank's move this week to buy $60 billion in bonds a month, so-called quantitative easing, "would greatly improve the world economic outlook" given the region's leading role in global markets.