This month's U.S. banking system turmoil and renewed recession worries have left global investor confidence at one of the lowest levels in the last 20 years, and that does not even account for this week's demise of Credit Suisse.
Canada's inflation rate slowed more than expected in February to its lowest level in 13 months, data showed on Tuesday, backing up the central bank's plans to hold off on further interest rates hikes. The annual inflation rate fell to 5.2% in February from 5.9% in January, the biggest single-month decline in almost three years, Statistics Canada said.
* * SNB expected to hike rates by 50 bps on Thursday - Reuters poll. * Markets split on 25 bps or no hike for BoE on Thursday - IRPR. * Norges Bank seen hiking by 25 bps on Thursday - Reuters poll. By Joice Alves.
* FITCH: AUTHORITIES ARE KEY TO EASING LIQUIDITY PRESSURE ON EUROPEAN BANKS. * FITCH - MARKET VOLATILITY TO MAKE IT HARDER FOR BANKS WITH "PERCEIVED WEAKNESSES" TO MAINTAIN STRONG LIQUIDITY WITHOUT BACKSTOP FROM AUTHORITIES. * FITCH: AS RATES CONTINUE TO RISE, EXPECT EUROPEAN BANKS TO INCREASE PASS-THROUGH RATES TO AVOID NET DEPOSIT OUTFLOWS.
Canada's inflation rate slowed more than expected in February to its lowest level in 13 months, data showed on Tuesday, backing up the central bank's plans to hold off on further interest rates hikes. The annual inflation rate fell to 5.2% in February from 5.9% in January, the biggest single-month decline in almost three years, Statistics Canada said.
The central bank to the world's central banks, the Bank for International Settlements, said on Tuesday it fully supported recent actions taken by the likes of the Swiss National Bank and Federal Reserves to address banking system problems.
Short-dated euro zone bond yields jumped on Tuesday, calmed by central banks' efforts to shore up liquidity, and as the focus turned to the Federal Reserve's two-day policy meeting that begins later in the day.
Sterling fell on Tuesday as broader market fears about banks subsided and the focus shifted to the outlook for interest rates, with the Federal Reserve and Bank of England both due to meet this week.
-Investors crept cautiously into bank stocks on Tuesday, with share prices including First Republic Bank's moving higher as immediate concerns about smaller U.S. lenders and further market ructions eased in the wake of the rescue of Credit Suisse.
Executives from the world's largest trading houses and mining companies are among those discussing market trends at the FT Commodities Global Summit in Lausanne, Switzerland, this week. PIERRE ANDURAND, HEAD OF ANDURAND CAPITAL. "Taking a back of the envelope calculation, the big change over the next decade is EVs and it takes 10 years to make a new fleet of cars.
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