Citi economists said: “We have long debated our view that China can be a major growth hedge this year – if anything, the recent global banking strains may have bolstered this thesis. “ The People’s Bank of China’s decision to cut its reserve requirement ratio showed “assurance of political support amid global volatilities,” Citi economists … Read more
Federal Reserve Board Chairman Jerome Powell holds a news conference following a meeting of the Federal Open Market Committee at the Federal Reserve on March 22, 2023 in Washington, DC. Alex Wang | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our new international markets newscast. CNBC Daily Open … Read more
Billionaire investor Bill Ackman said the US government’s intervention to protect depositors after the Silicon Valley Bank implosion is “not a bailout” and is helping to restore confidence in the banking system. In a tweet, the Pershing Square CEO said Monday’s SVB fallout indicated the government had done the “right thing”. But not all Wall … Read more