SVB a casualty in 'battle between fire and ice' against inflation, bankers hear

Silicon Valley Bank's collapse is part of the 'battle between fire and ice' in global efforts to curb inflation, causing stress and casualties in the banking industry. Market halfway through the fight to 'slay inflation'.

March 14, 2023 . 9:37 PM

1 min read

Silicon Valley Bank's collapse is part of the 'battle between fire and ice' in global efforts to curb inflation, says Morgan Stanley co-president.
Steep interest rate rises to combat soaring consumer prices has led to stress and casualties in the banking industry.
The market is around halfway through a fight to 'slay inflation' that would be waged over 12 to 18 months.
SVB's collapse put fresh pressure on banks across Asia and Europe, but European banking stocks later stabilised.
U.S. banks have seen a wave of customers applying to shift their accounts to larger lenders.