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It's a central banking world: Manager

This world is one in which central bankers are "all in," said Katie Nixon, CIO of Northern Trust Wealth Management, on Friday.

Earlier on Friday, China's central bank cut interest rates for the sixth time since November in another attempt to jump-start a slowing economy.

"Things aren't so good in China, which is why they [central bankers] are being very proactive and very aggressive with a sixth rate cut in a matter of 12 months," Nixon told CNBC's "Power Lunch." "So I think it sends a message to investors that central bankers will do what it takes to stabilize economic growth and to try to inflate economies."

The People's Bank of China (PBOC) said on its website that it was lowering the one-year benchmark bank lending rate by 25 basis points to 4.35 percent, effective from Oct. 24.

Central banks around the world, including in the U.S. and Europe, have engaged in some type of stimulus program since the financial crisis to help their respective economies.

Krishna Memani, Oppenheimer Funds CIO, called it an "adjustment process for the global economy that is going to take time and continue for a while."

His advice for investors is to take advantage of lower interest rates. "That means owning equities and risky assets, and when you have corrections in the marketplace, like you did in August, you have to go in a bit more," he said in the same interview.

— Reuters contributed to this report.