Banking Monitor

Report Date: 8th May, 2023

The Federal Reserve raised its policy rate again last week and indicated that any fall in the rate was unlikely in 2023. And the Fed continued to reduce its balance sheet. Another regional bank, PacWest, suffered significant deposit outflows and its share price dived, along with the small banks index. Downward pressure on bank deposits remains and credit lending growth is weak.

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Author: Independent Strategy

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