The Fed vs Inflation
"Joint interest rate break can prevent deeper crisis"
The major central banks led by the ECB and the Fed should make a joint statement that all interest rate hikes are on hold until stability returns to the financial markets. That's what Unicredit's economist Erik Nielsen writes in a comment, according to several media.
"Such a statement within the next few days would most likely be needed to pull us back from the brink of a much deeper crisis," Nielsen writes.
Felipe Villarroel, manager at Twentyfour Asset Management, also believes that the central banks need to act to "instill confidence in the system", and prevent further bank runs.
Thibault Camus / AP
The political tours around Jack Ma
Chinese media: Jack Ma has appeared in China
Chinese e-commerce company Alibaba's founder, Jack Ma, has returned to mainland China after a long absence since falling out of favor with Beijing.
This is reported by the South China Morning Post.
Jack Ma is said to have visited a school next to Alibaba's headquarters in Hangzhou, and his return coincides with Beijing trying to restore confidence in entrepreneurs after years of crackdowns on tech giants that have held back investment in the country.
Jack Ma was hard hit by Beijing at the end of 2020, when the stock market listing of the Alibaba Group-linked fintech company Ant Financial was cancelled. Just before the listing, which looked set to be the largest ever IPO, Jack Ma made remarks about China's banking system that media sources said angered President Xi Jinping and ordered the listing suspended.
Fredrik Sandberg/TT
Professor: Better equipped but crisis cannot be ruled out
Swedish banks are significantly safer today than during the financial crisis in 2008. This is stated by two economists for TT and downplays the risk of the turbulence in the US and Europe spilling over to Swedish banks and affecting Swedish taxpayers.
Economics professor Ted Lindblom at the Gothenburg School of Economics points, among other things, to the requirement for higher buffers - more equity in relation to lending - which should function as airbags.
- You cannot rule out a financial crisis, but we are better equipped today, he says.
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