The ECB’s rate decision came as European markets recovered from a dramatic sell-off on Wednesday, when fears over the health of Credit Suisse, one of Europe’s biggest banks, sank indices and wiped billions off the value of stocks.
As market analysts waited on ECB chief Christine Lagarde’s follow-up comments, Europe’s central bank insisted the euro area banking sector is resilient, with strong capital and liquidity positions. “As such, these tensions imply additional uncertainty around the baseline assessments of inflation and growth,” it said.
Rachel McGovern of umbrella group Brokers Ireland said the situation is very worrying for the vast majority of mortgage holders, not just tracker mortgage holders.
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Credit Suisse to borrow €50 billion from Swiss central bank after share price plungeCredit Suisse plunged and dragged down other major European lenders in the wake of bank failures in the US. They can’t let this one fail. Lots of “prominent” and “honest” people have their hard earned savings in there. 😉 Just alot of money shifting band aids, it won't stop the crash. It's coming and it's not going to be pretty
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Credit Suisse gets €50bn support from Swiss central bank to stem crisisThe move is unprecedented at a major Swiss lender since the 2008 financial crash
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Credit Suisse gets €51bn support from Swiss central bank to stem crisisCredit Suisse tapped the Swiss National Bank for as much as 50 billion francs (€50.7 billion) and offered to repurchase debt, seeking to stem a crisis of confidence that has sent shockwaves across the global financial system.
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Taoiseach ‘not concerned’ about Irish banks as Credit Suisse latest to rattle marketsSwiss authorities issue statement in support of Credit Suisse as financial markets bet ECB will scale back planned half-point rate hike on Thursday Is that not the most nervous smile we've ever seen on LeoVaradkar's face? rtenews Independent_ie irishexaminer thejournal_ie MichealMartinTD EamonRyan MaryLouMcDonald HollyCairnsTD ivanabacik What do you think mmcgrathtd? Will our banks weather the current storm? We heard that reply back in 2007. Sounds like history repeating itself. “ You can trust me. I’m not like the others.”
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ECB unlikely to signal another big interest rate hike due to SVB, economists sayIt had previously been predicted that officials would give guidance on rate increases as they look to tackle inflation
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EBS announces increase across its fixed rate residential mortgagesLender, which is owned by AIB, cites ‘rising interest rate environment’ following ECB moves
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