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IMF: uncertainty over the banking crisis in the United States remains “high”

IMF: uncertainty over the banking crisis in the United States remains “high”

The International Monetary Fund (IMF) considers that the uncertainty due to the banking crisis It remains “high”, which justifies “continuous vigilance” after the bankruptcy of two banks in the United States, the rescue of a third and Credit Suisse’s problems in Europe.

Therefore, he announced that he will make a more detailed assessment of the current outlook and its implications in the reports he will publish in April on the world economic outlook and global financial stability.

Julie Kozack, spokesperson for the IMF, highlighted the “quick” reaction to the risks to financial stability. “These actions have eased market tension to some extent. At the same time, uncertainty remains high and continued vigilance is needed,” he noted.

  International banks in crisis shake the markets.  Photo: composition LR

International banks in crisis shake the markets. Photo: composition LR

Repercussions of the Fed reset

On the other hand, after the United States Federal Reserve (Fed) increased interest rates by 0.25 points the day before to place them between 4.75% and 5%, the shares ended the trading session Thursday upwards.

Thus, the S&P 500 rose 0.3%, the Dow Jones Industrial Average rose 0.2% and the technology-heavy Nasdaq Composite advanced 1%. Earlier in the session, all three major averages had grown more than 1% with the Nasdaq rising more than 2%, and in afternoon trading both the S&P and Dow were in the red.

Bank stocks continued to be a source of pressure on Thursday, with the KBW regional bank index falling nearly 3% and regional banks including First Republic KeyCorp and Comerica all shedding more than 6%.

  Against all odds.  Amid turmoil in the US banking sector, the Fed prioritized mitigating inflation.  Photo: diffusion

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Against all odds. Amid turmoil in the US banking sector, the Fed prioritized mitigating inflation. Photo: diffusion

Dollar closed lower

In the local scenario, the dollar closed at S/3.7690, its lowest level so far this year and similar to the price of S/3.7630 on June 23, 2022. During the exchange session, the greenback depreciated by 0.05%.

Meanwhile, the Lima Stock Exchange closed with 13 indices in the red and lost 1.19% in the S&P/BVL Peru General, driven by mining that fell 2.37%.

The data

Fusion. This week, UBS, the main Swiss bank, bought rival Credit Suisse for $3.25 billion as part of an emergency bailout to avert a banking crisis.

Source: Larepublica

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