Did the ECB Signal What They Would Do Next?

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The ECB raised rates by half a percentage point. There was talk that the European central bank might ease up on interest rate rises at their Thursday meeting. The First Republic rescue follows the backstopping of one of Europe's big lenders Credit Swiss stock plummeted earlier this week, so the Swiss central bank threw out a lifeline.

The largest US banks have banded together to deposit $30bn into First Republic Bank in an attempt to bolster its finances, the European Central Bank has raised interest rates by half a percentage point, Emmanuel Macron failed a critical parliamentary test and chose to override lawmakers to pass his unpopular plan to raise France’s retirement age, and the FT’s Stephen Morris explains why HSBC took a chance on Silicon Valley Bank UK.

Mentioned in this podcast:

Wall Street banks to deposit $30bn into First Republic

ECB increases rates by 0.5 percentage points

Macron to pass pension reform by decree as protests sweep France

Why HSBC swooped on SVB UK

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

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