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Has the ECB set the tone for the Fed?
Heading into last week’s ECB meeting there was speculation that the ECB’s flagged 50bps rate hike would not go ahead. Why? Well, it was the worries over potential contagion from European banks over the loss of confidence in Credit Suisse that was circulating strongly on Wednesday last week. However, Credit Suisse secured liquidity from the Swiss National Bank late Wednesday and intends to borrow up to $50 bln. FINMA also issued a statement in support of Credit Suisse saying that it ‘meets the higher capital and liquidity requirements applicable to systemically important banks’. So, this seemed to steady the ... (full story)
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- Posted: Mar 20, 2023 6:00pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 668
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