As recently as 24 hours ago, the European Central Bank was widely expected to hike interest rates by half a percentage point Thursday in its fight against inflation. But Wednesday’s market turmoil could force a rethink. Banking stocks sold off sharply Wednesday, as concerns about the sector’s resilience in the wake of Silicon Valley Bank’s demise spread beyond the United States. Credit Suisse\n \n plummeted to a new record low.
“There are still huge uncertainties about what might happen next, but central banks … will now have to factor in the risk that the current situation snowballs into a broader loss of confidence in the banking system and a significant tightening in financial conditions,” he added. Inflation versus market turmoil At 8.5% in February, inflation in the euro area remains far above the ECB’s 2% target.
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Major European bank tells Credit Suisse to seek urgent central bank liquidity backstop - sourceA major European bank has held talks with Credit Suisse, urging the lender to seek an urgent central bank liquidity backstop, according to a source with knowledge of the discussions. Just in time I don't understand any of this. Why bank after bank is getting bankrupt? kpps Let’s hope the shit doesn’t hit the fan again like in 2008 😱
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European markets set to rally after Swiss central bank steps in to help Credit SuisseEuropean markets are set to rally at the open Thursday after the Swiss National Bank said it would provide additional liquidity to Credit Suisse. MohammedSekouty Hope for the best, prepare for the worst. LET ALL BANKS FAIL! 🙌 CRYPTO IS THE FUTURE!!! 🙌 Eh.. I just ate so much.. foodcoma 😒🥱😴 💀 When you won’t let the zombie bank die , you let another 7 banks to collapse with it
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Credit Suisse Turmoil: Swiss Central Bank Will Support Troubled Bank ‘If Necessary’The Swiss National Bank said it would provide liquidity to Credit Suisse if needed, but maintained the bank meets capital requirements imposed on “systemically important banks.” Bailouts are back baby!! It sounds like Hank Paulson’s „bazooka”
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Source: MarketWatch - 🏆 3. / 97 Read more »