ECB sticks to planned rate hike despite turmoil

  • 📰 inquirerdotnet
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 86%

Philippines Headlines News

Philippines Latest News,Philippines Headlines

The European Central Bank stuck to a planned interest rate increase on Thursday as it remained laser-focused on battling sky-high inflation despite market turmoil over fears of a widening banking crisis. | AFP

Its shares soared more than 30 percent at the open Thursday, and European stocks rebounded slighlty.

It also insisted that the eurozone banking sector is “resilient, with strong capital and liquidity positions”. The US Federal Reserve and the Bank of England, who have both been hiking rates to combat soaring prices, hold meetings next week.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 3. in PH

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China’s central bank warns against U.S., Western ‘suppression’The People’s Bank of China said it will “appropriately” respond to U.S. and Western “containment and suppression”, in a rare warning by the central bank following calls by President Xi Jinping to safeguard national security. | Reuters
Source: inquirerdotnet - 🏆 3. / 86 Read more »

China's central bank warns against US, Western 'suppression'The unusual statement from the People's Bank of China suggests Beijing may be signaling it is ready to deploy a wide range of countermeasures in response to increasing tension with the West.
Source: rapplerdotcom - 🏆 4. / 86 Read more »

Swiss central bank throws financial lifeline to Credit Suisse after shares pummeledCredit Suisse leads a rout in European bank shares on Wednesday, March 15, as its largest investor says it cannot provide more financial assistance because of regulatory constraints.
Source: rapplerdotcom - 🏆 4. / 86 Read more »

Swiss central bank throws financial lifeline to Credit Suisse after shares pummeledSwiss regulators pledged a liquidity lifeline to Credit Suisse in an unprecedented move by a central bank after the flagship Swiss lender’s shares tumbled as much as 30 percent. | Reuters
Source: inquirerdotnet - 🏆 3. / 86 Read more »

ECB likely to stick to big rate hike despite banking turmoil, source saysEuropean Central Bank policymakers are still leaning toward a half-percentage-point rate hike, despite turmoil in the banking sector, as they expect inflation will remain too high in coming years. | Reuters
Source: inquirerdotnet - 🏆 3. / 86 Read more »

European banks battered as Credit Suisse drops 20%Shares in European banks got pummeled again on Wednesday, as Credit Suisse plunged to fresh record lows after the lender’s biggest shareholder said it could not raise its 10 percent stake citing regulatory issues. | Reuters
Source: inquirerdotnet - 🏆 3. / 86 Read more »