ECB’s Muller: There are not many euro area banks that took risks like SVB did
|European Central Bank (ECB) Governing Council member Madis Muller is making some comments on the global banking crisis, in his appearance on Friday.
Key quotes
“SVB created a backdrop of uncertainty.”
“Credit Suisse has had problems for years.”
“SNB’s intervention in Credit Suisse has made decision-making easier.”
“There are not many euro area banks that took risks like SVB did.”
“There is no sign yet of persistent inflation pressure easing.”
“Banking uncertainty complicates communication.”
“The latest inflation forecasts assume more rate hikes.”
Market reaction
The EUR/USD pair is extending its recovery mode above 1.0650 on the above comments. At the press time, the pair is trading at 1.0654, adding 0.48% on the day.
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