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ECB

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European Central Bank expected to slow pace of rate hikes

The European Central Bank is expected to increase interest rates for the seventh-straight time to tackle high inflation but may opt for a smaller hike at its six-weekly meeting. Analysts predict further rate hikes are “likely to remain in the pipeline.”

European banks ‘extremely solid’: French central bank chief

European banks are in “extremely solid” shape, unlike some US lenders, due to the effectiveness of the Basel III rules, said Francois Villeroy de Galhau, France’s central bank chief and a member of the European Central Bank’s governing council. Troubled European banking giant Credit Suisse was a “special case” due to business model difficulties and internal control system failures, he said. The ECB is ready to provide liquidity to ensure financial system stability, but the priority remains the fight against inflation, Villeroy de Galhau added.