ECB, which is expected to lift interest rates by a half-point, will get chance to address banking crisis


The first central bank that will have a chance to address the collapse of California’s SVB Financial last Friday will be the European Central Bank, which meets Thursday to determine interest rates.

SVB had a minimal presence in the eurozone, apart from offices in Germany and Ireland, but investors fear a deposits exodus for its eurozone peers. The Euro Stoxx banks index XX:SX7E has dropped 12% in the last week. The 2-year German bund BX:TMBMKDE-02Y was yielding 2.81% on Tuesday, down from 3.33% last Wednesday.





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