SVB Fallout
ECB Unlikely to Signal Another Big Hike Due to SVB, Bloomberg Economics Says
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The collapse of Silicon Valley Bank lowers the chances of the European Central Bank committing at this week’s meeting to another big increase in borrowing costs, according to Bloomberg Economics.
The US lender’s fall is a reminder that “when rates rise quickly things get broken,” Chief European Economist Jamie Rush said before Thursday’s planned half-point hike in the deposit rate.