Investors go back into battle with rising interest rates
The past three months have afforded investors little pause for thought. Since a run on Silicon Valley Bank (svb) in March, markets have had to judge first whether one American lender would collapse (yes), then others (yes, though mercifully few), then whether the contagion would spread overseas (just to Credit Suisse). With the takeover of […]
The world’s $13trn interest bill
After a calm 2010s, in which interest rates hardly budged, inflation is putting central-bank officials to work. Indeed, policymakers have rarely been busier. In the first quarter of 2021, policy rates in a sample of 58 rich and emerging economies stood at an average of 2.6%. By the final quarter of 2022, this figure had […]