LONDON, March 23 ― Switzerland and Norway hiked interest rates today to tackle inflation despite banking-sector turmoil, with the Bank of England next in line after the US...
LONDON, March 23 ― Switzerland and Norway hiked interest rates today to tackle inflation despite banking-sector turmoil, with the Bank of England next in line after the US Federal Reserve also lifted borrowing costs.
Central banks remain in inflation-fighting mode with the Fed pushing up interest rates by 25 basis points yesterday, one week after the European Central Bank unveiled a large 50 basis-point increase in eurozone borrowing costs. The Fed statement replaced a previous warning that “ongoing increases... will be appropriate” to tame inflation with a conditional one saying “some additional policy firming may be appropriate”.
The SNB said Swiss authorities had “put a halt to the crisis” at Credit Suisse, declaring that their actions preserved financial stability. This is the reason economists have in recent days spoken about the possibility of central banks pressing the pause button on rate rises
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.
US banks face scrutiny as Fed rate decision loomsWASHINGTON, March 22 ― A scramble by troubled US lender First Republic Bank to secure a capital infusion kept worries about the broader banking sector alive on Wednesday as...
Read more »
Bursa rides on US rally on hopes of dovish FedKUALA LUMPUR: The rebound on the domestic market is set to continue as tensions over the banking crisis continue to ease and investors look forward to expectations that the US Federal Reserve will raise the interest rate by a smaller 25 basis points margin at its upcoming meeting.
Read more »
Wall Street ends green on bank bounce as Fed takes focusNEW YORK, March 22 ― Wall Street closed sharply higher yesterday as widespread fears over liquidity in the banking sector abated and market participants eyed the Federal...
Read more »
London police force racist, misogynist and homophobic, says reviewLONDON, March 22 — Prime Minister Rishi Sunak and bereaved families on Tuesday led calls for “top to bottom” reform of London’s Metropolitan Police, after a review found...
Read more »
Fed’s Powell faces political, policy storm over SVB oversightCalls to audit or break up the Fed may resurface on Capitol Hill following the latest meltdown.
Read more »
Dollar muted as traders await Fed rate decisionSINGAPORE, March 22 ― The dollar was pinned near five-week lows today ahead of the conclusion of the US Federal Reserve's policy meeting, with investors awaiting clarity...
Read more »