At the same time, concerns about interest rates put the stock markets under renewed pressure. According to an insider, the monetary watchdogs of the ECB are likely to stick to the planned large interest rate hike of half a percentage point on Thursday, despite the recent turbulence in the banking sector. Because the ECB expects inflation to remain too high in the coming years, an insider told Reuters news agency.
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In view of the shock waves after the bankruptcy of the SVB, doubts arose about the determination of the ECB to raise interest rates again. “It cannot be assumed that the ECB will be thrown off course by the US bank failures,” said Thomas Altmann, portfolio manager at asset manager QC Partners.