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Search resuls for: "” Holger Schmieding"


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London CNN —The euro area economy is growing again. Separately, official data showed that the overall rate of inflation continued to fall this month. The consumer price index for the euro area rose by 5.3%, down from 5.5% in June. Germany stagnated last quarter, but that was a modest improvement from the previous six months, when Europe’s biggest economy was stuck in recession. Demand for business loans in the euro area fell to a record low in the second quarter, according to a survey published by the ECB last week.
Persons: , Putin, ” Holger Schmieding, Michael Probst, Christine Lagarde Organizations: London CNN, Gross, ECB, European Central Bank Locations: Ukraine, Germany, Frankfurt
London CNN —Shares in European banks slumped Wednesday as speculation about the health of Credit Suisse (CSGKF) reignited the market turmoil sparked by the collapse of Silicon Valley Bank. Europe’s benchmark Stoxx Europe 600 Banks index, which tracks 42 big EU and UK banks, has fallen 13% since last Wednesday’s close. In 2018, former President Donald Trump watered down key parts of the Dodd-Frank Act, which set stricter rules for the banking sector. But European banks are required to hold capital to cover the risk of a large and sudden change in borrowing costs. “This means that European banks have less exposure to market risk on bonds, despite a similar rise in yields,” Moody’s said in its note.
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