The chief executive of Credit Suisse has sharply altered his view on global central banks, telling CNBC that policymakers have been handling the current environment "very well."
"You have heard me previously taking about QE (quantitative easing) in a negative way. I was worried about the exit strategy a few years back. I have got to say ... that they (central banks) have handled this very well," Tidjane Thiam told CNBC.
Central banks have embarked on a low interest rate policy in the wake of the financial crisis, which has lowered banks' profitability. However, with the recent pick-up in the global economy, central bankers in the U.S., Europe and the U.K. have started slowing down their asset purchase programs or even lifting benchmark rates. This change in strategy if abruptly done or ill-communicated could spark a sell-off in markets as investors quickly change their perspectives. But, as yet, that hasn't been the case.