Refinitiv Newscasts - Business Lookahead: red light, green light

Credit Suisse AG

12/06/2023 07:34

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_wfn1uqtg&referenceId=tag:reuters.com,2023:newsml_RW847508062023RP1_930&pageId=RefinitivNewscasts
Source: Reuters

Description: From decision time, again, at the Fed and ECB, to the birth of a
new banking giant in Switzerland, these are business and finance stories to
watch out for in the coming days. Rachel Faber has the story.
Short Link: https://refini.tv/45VJ1oL

Video Transcript:

From more big calls on rates to the birth of a megabank, these are the big
stories in business and finance to watch out for in the coming day. Wednesday
sees another big policy decision by the US Federal Reserve. The bets are that
it will keep rates on hold this time. Inflation numbers out the day before
could tip the balance one way or the other. The European Central Bank has a
big call to make too. Traders expect it to do another quarter-point rate hike.
The focus is more on any hints about what comes next. With inflation slowing
and the Eurozone economy in recession, many think peak rates must now be near.
The Bank of Japan’s new governor thinks the country is gradually waking
up to the idea of inflation. But with recent data showing sharp drops in
household spending and real wages, few expect big change at Friday’s
policy meeting. Hopes are running high for fresh stimulus measures in China
though. Dismal export numbers were just the latest to suggest an economic
recovery there could be stalling. New figures on home prices, jobs, and
consumer sentiment will provide fresh clues. And a super-bank could be born in
Switzerland. UBS is expected to complete the acquisition of scandal-prone
Credit Suisse as early as Monday. The combined lender will oversee assets of
$5 trillion. Some fear that could pose a danger to the Swiss economy, should
the new bank also get into trouble