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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 ....
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 quite complex, this. with me is our business presenter ben thompson. european central bank has put rates up european central bank has put rates up by european central bank has put rates up by half a 1%, what is the impact of that? it up by half a 196, what is the impact of that? , , . up by half a 196, what is the impact ofthat? , , . , up by half a 196, what is the impact of that? , , . , ., of that? it sends a message that inflation is of that? it sends a message that inflation is a of that? it sends a message that inflation is a big of that? it sends a message that inflation is a big concern - of that? it sends a message that inflation is a big concern for- ....