The ECB announced a hike of 50bps in its three key interest rates, taking them to 3.50%, 3.75%, and 3% effective on March 22 to keep battling inflation.
The European Central Bank has convened to raise three of its key interest rates by 50bps , fueled by the persistence in the inflation numbers reported by the bloc. Christine Lagarde, president of the institution, stated that the banking sector in Europe was resilient and that the institution was ready to provide liquidity if necessary.The European Central Bank has decided to keep raising interest rates in its war against inflation.
The recent decline was primarily spearheaded by the energy price downtrend; however food and beverages prices soared by 15% during the same period.The institution did not address directly the recent developments that took Credit Suisse, one of the biggest Swiss banks, to the brink of collapse, ultimately receiving a $54 billionThe euro area banking sector is resilient, with strong capital and liquidity positions.
The collapse of Credit Suisse comes after the recent closure and intervention of three U.S-based banks —
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