13.9 C
New York
April 1, 2023
Banking Business Credit Suisse europe European Central Bank European Union Eurozone Interest rates news

ECB raises eurozone interest rate despite banking sector fears

Concerns half-point could set off domino-effect across financial industry knocked by Credit Suisse crisis

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, Credit Suisse.

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.

Continue reading…

Related posts

Who will succeed David Frost as Brexit minister and what does it mean for EU talks?

TheWorldsNews

Russia-Ukraine war live: air raid alarms sound in Kyiv and Kherson; Bakhmut reaching stalemate, say US thinktank

TheWorldsNews

Ukraine crisis: Scholz heads to Russia to meet Putin as US tells citizens in Belarus to leave – live news

TheWorldsNews