hello and welcome to bbc news. banks and governments around the world are nervously watching the european markets to see if the crisis surrounding credit suisse will develop into a global banking crisis. so far things seem reasonably calm with shares in credit suisse rising almost 30% after the swiss national bank gave it a lifeline. but there are concerns that a potential interest rate rise later on thursday by the european central bank could add further volatility to the situation. earlier our business presenter sally bundock explained why the situation at credit suisse was notjust important to the financial community but to all of us: a real worry about credit suisse. if that bank, which is 160 odd years old in switzerland, were to fail, it could have the same effect that the lehman brothers collapse had in 2008, which is it brings a huge amount of fear within markets about the stability of other banks. so people therefore act very quickly and remove their funds from banks
daffodils in wales. and there is plenty of wet weather, muddy foot pads in lancashire and across the south west of england with rain across scotland as well. not a lot is set to change as we head through the rest of this week and into the start of next. still cloudy, mild and a lot more wet and windy weather to come in the forecast. this is today. you can see the rain starting today. you can see the rain starting to ease across scotland with a brisk south westerly wind and another cold front pushing slowly across england giving outbreaks of rain. south westerly wind, brisk towards western coasts dragging on mild air so temperatures away from the far north west of scotland are higher than they were yesterday. this afternoon in more detail without picks of rain across central and southern england was not the best of us sunshine today in north east england and temperatures peaking between 11 and 15. much higher than they were yesterday. all of that much milderfeeling they were y
and japan meet for the first time in 12 years, seeking to set aside historic differences. the european central bank has hiked interest rates by half of 1%, despite the impact of rising rates on the banking sector. it comes as central banks and governments around the world are nervously watching whether the crisis surrounding credit suisse will develop into a global banking crisis. shares in credit suisse have stabilised after the swiss national bank offered it a funding lifeline. so how did we get here? credit suisse was already in trouble before its biggest investor saudi national bank announced on wednesday that it could offer no more financial support. that lead to its share price plummetting by 30%. late wednesday the swiss central bank said it would provide financial support to the tune of $54 billion us dollars. that has reassured the markets for now but concerns remain about contagion from the collapse of the two us banks last week. it is all quite complex, it is all q