The new rise in interest rates from the ECB is here. Meanwhile, the financial earthquake that caused the bankruptcy of the Silicon Valley Bank is still present in the economic and financial spheres of the Eurozone. Find the best mortgage without mistakes Going from bank to bank is a thing of the past. GET INFORME FOR FREE The ECB raises interest rates for the sixth consecutive time The official interest rates of the European Central Bank (ECB) rise by 50 basis points . This was announce by the organization this Thursday, March 16, after the meeting of the Government Council chaired by Christine Lagarde. This is the sixth consecutive rate increase since July 2022, placing the price of money at a rate of 3.5% . The last increase was on February 2, where the percentage reached the 3% threshold for the first time since , after applying an increase of 50 basis points. ECB experts estimate that inflation will average 5.3% in 2023 , and will reach 2.1% in.

Despite tensions, the ECB maintains its policy

The ECB’s new interest rate increase comes in the midst of a context of tension in the various financial. However, the European organization is rowing against the current and remains firm in its inflation control policy. Lagarde and her Singapore Phone Number Data team emphasize the tensions hitting financial markets, ensuring that the ECB. According to the organization, “the banking sector in the euro area  resilience and solid capital and liquidity positions.” The ECB’s decision affects those. Pending action by the US Federal Reserve. Following the decision to maintain the upward trend in interest rates by the ECB, it is now the turn of the United States Federal Reserve (Fed). Although this is a very different situation from what we see in Europe, inflation also affects the American country.

The collapses of Silicon Valley Bank and Credit Suisse unleash financial panic

The entry into bankruptcy of Silicon Valley Bank at the last minute worries financial entities and markets around the world. The fear that the bankruptcy of Leman Brothers in 2008 could be repeated places. As if that were not enough, the crisis that broke out in the Swiss financial institution Cyprus Phone Number List Credit Suisse this week has been the last straw. And one of the triggers for Credit Suisse’s collapse comes as a result. In Spain, the fear that the bankruptcy would spread to other financial entities caused falls. Specifically, the drop was 4.3%. Recommende reading: Euribor in 2024: what is the forecast? Financial tension causes the Euribor to plummet With the tense situation that the financial markets.

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