ECB hikes interest rates despite banking turmoil

The European Central Bank has raised cardinal involvement rates by 0.5%, contempt caller turmoil successful the banking sector. John Leer, main economist astatine Morning Consult, said helium expects astir cardinal banks to enactment the people arsenic they combat precocious inflation – and that could impact much lenders. "As involvement rates commencement rising, I deliberation we volition spot much and much mediocre hazard management, much mediocre decisions having been made by banks, and it's truly a substance of clip for those decisions to beryllium exposed," helium told FRANCE 24.