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...UBS agreed to rescue Credit Suisse last March in a deal orchestrated by Switzerland’s finance ministry, financial regulator and central bank....
...Can central banks claim much credit for bringing inflation down? Isabel Schnabel: It’s a myth that the inflation trajectory would have been the same in the absence of monetary policy action....
...“But we should remain proportionate going forward given an economy that has stagnated for 18 months, risks to the economic outlook that are skewed to the downside, and credit conditions that are in restrictive...
...At some point, this risks leaving lenders without sufficient reserves and could cause unwanted volatility in short-term borrowing costs and even a credit crunch....
...The €12.2bn monthly drop in eurozone private sector lending in January, reported by the European Central Bank on Tuesday, is the first such decline since August....
...The sharp slowdown in eurozone bank lending stabilised in October after a pick-up in monthly credit flows for mortgages, according to data from the European Central Bank....
...If the Reagan‑Thatcher revolution was about crushing union power, the pendulum seems to be shifting in favour of labour. Unions are changing too....
...Many believe that regional economies that are performing slightly better than feared means a more painful recession can be avoided, while falling inflation will allow central banks to cut interest rates,...
...China’s “credit impulse” — the change in the flow of credit — was a “headwind for growth for much of the last year” but has now moved back into positive territory, BofA’s analysts said....
...Credit Suisse’s takeover by UBS last March marked the first demise of a globally systemic lender since the financial crisis....
...Underlying concerns that EU companies will be lured to the US by the $369bn Inflation Reduction Act’s package of tax credits and subsidies also cast a shadow....
...No more foreign credit causes the economy to collapse. However, before, during and after the invasion, the value of Russia’s exports has far exceeded what it pays for imports....
...Hopes last week of a ceasefire deal ahead of the start of Ramadan this coming Sunday — or for that matter Biden’s State of the Union address on Thursday — have fizzled....
...Italian bonds rallied on Monday after Rome avoided a potential downgrade of its credit rating to “junk” status, in a boost to Prime Minister Giorgia Meloni’s right-wing coalition government....
...The European Central Bank last month paused its recent series of interest rate hikes designed to fight inflation....
...There are signs this could keep rising, including a union demand in Germany for a €500-per-month wage increase for the country’s almost 1mn construction workers — equivalent to a 21 per cent pay rise for...
...Extreme weather risked causing “reduced tax revenues, increased government expenditure, lower credit ratings and increased cost of borrowing”, it added....
...The divergence between European and US credit spreads has played out primarily at the weakest end of the credit quality spectrum....
...Larger, healthy banks can extend more credit, which supports companies and overall economic growth....
...Keeping a sizeable level of reserves would “underpin the willingness of banks to extend credit in spite of the risks associated with illiquid assets (such as bank loans) in a world much more prone to macro-financial...
...The turmoil in banking markets this year, which led to the collapse of several US banks and the forced rescue of Credit Suisse in March, “was a clear reminder of what can happen if issues are detected but...
...A deeper political union was needed “to simplify the solution”....
...Joe Biden will try to stamp out doubts about his re-election prospects in his State of the Union speech on Thursday, while laying out the choice facing American voters in this year’s presidential race....
...The figures will be a key indicator of how close the European Central Bank is to cutting interest rates....
...She has also commissioned former Italian prime minister and European Central Bank president Mario Draghi to write a report on the state of the EU’s competitiveness and proposals to improve it, as part of...
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