ECB hikes interest rates despite banking turmoil

BUSINESS DAILY © FRANCE 24

The European Central Bank has raised key interest rates by 0.5%, despite recent turmoil in the banking sector. John Leer, chief economist at Morning Consult, said he expects most central banks to stay the course as they fight high inflation – and that could affect more lenders. "As interest rates start rising, I think we will see more and more poor risk management, more poor decisions having been made by banks, and it's really a matter of time for those decisions to be exposed," he told FRANCE 24.