how interest rates helped trigger its collapse and what central bankers should do next
- Written by Charles Read, Fellow in Economics and History at Corpus Christi College, University of Cambridge
A former prime minister of Britain, Harold Wilson, is famous for remarking that a week is a long time in politics. But in the world of finance, it seems everything can change in just two days.
Only 48 hours elapsed between a statement from US-based Silicon Valley Bank (SVB) on March 8 that it was seeking to raise US$2.5 billion (£2 billion)...
