The European Central Bank has raised interest rates across the eurozone by 0.5 percentage points, despite fears that higher borrowing costs could set off a domino effect across a banking sector already reeling from a collapse in confidence in Switzerland’s second largest lender,Officials at the ECB, the central bank covering the 19-member euro bloc, said inflation was likely to remain high “for too long”, forcing it to continue with its planned run of rate increases.
At its last meeting in February, the ECB clearly signalled its intention to hike the rate this month, but financial markets had been betting on a last-minute U-turn in light of this week’s turmoil.Swiss Central Bank stepped in Without referencing the overnight rescue loan, the ECB said on Thursday that its governing council was “monitoring current market tensions closely” and stood “ready to respond as necessary to preserve price stability and financial stability in the euro area”.
Christine Lagarde, the president of the ECB, said the central bank would treat the heightened tensions in financial markets separately from its strategy for bringing down inflation.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Credit Suisse needs capital raise or break-up, Morningstar says“We expect the 2023 loss to increase to such an extent that its capital adequacy could be under threat,” Morningstar analyst Johann Scholtz said in a note.
Source: FinancialReview - 🏆 2. / 90 Read more »
Credit Suisse warns of ‘material weaknesses’ in financial reportingSwiss bank’s shares fall as annual report reveals another blow to its bid to recover from string of scandals
Source: GuardianAus - 🏆 1. / 98 Read more »
Credit Suisse shares fall to record low as top investor rules out more fundingSaudi National Bank says it cannot stump up more cash because of regulatory restrictions
Source: GuardianAus - 🏆 1. / 98 Read more »
Credit Suisse shares close near record low, sparking fears from investorsCredit Suisse shares close down more than 24 per cent, stoking fears of another bank collapse following the closing down of Silicon Valley Bank in the United States. And some this chain reaction is perfect ingredient for WW3 how much of a crash is needed. Many government's have much to hide a good way to avoid accountability. the contagion spreads...
Source: abcnews - 🏆 5. / 83 Read more »
ASX LIVE: ASX futures tumble; Credit Suisse sinks, BHP, Rio, oil price plungeAustralian futures -1.7pc. Bond yields sink again. Gold climbs. Credit Suisse plunges 24pc, government steps in. Oil at lowest since Dec 2021. Follow updates here. fightclub moment incoming
Source: FinancialReview - 🏆 2. / 90 Read more »
Live: ASX to slide as Credit Suisse share plunge rattles marketsThe ASX 200 is expected to fall sharply when trade opens, after a plunge for giant Swiss bank Credit Suisse triggered a rout on European stock markets and losses on Wall Street overnight. Follow live on our blog. Let the games begin! When do I start writing cheques for billionaires? Pull out. No shares. No investment properties, buy GOLD! Get out of the pyramid scheme. 🛑 robbing future generations and growing inflation!! Buy gold. It’s real. Not numbers on a screen. Lol 😂
Source: abcnews - 🏆 5. / 83 Read more »