ECB: There aren’t many banks in the eurozone that would take risks like SVB did – Madis Muller

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Madis Müllermember of the Governing Council of the European Central Bank (ECB), makes some comments on the global banking crisis, in his appearance on Friday.

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“The SVB has created a background of uncertainty.”

“Credit Suisse has been in trouble for years.”

“The SNB’s intervention in Credit Suisse has facilitated decision-making.”

Not many eurozone banks have taken risks like SVB did“.

“There are no signs yet that the pressure on inflation has eased.”

“The uncertainty of banking complicates communication.”

Latest inflation forecasts assume further rate hikes“.

market reaction

EUR/USD extends its recovery above 1.0650 following earlier comments. At time of writing, the pair is trading at 1.0654, gaining 0.48% on the day.

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Source: Fx Street

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