Central banks were trying to engineer something of an economic miracle in 2023, by taming inflation without causing a recession. The aim was a soft landing, but the glide path was bumpy.
The historic series of US interest rate hikes contributed to a string of bank failures. The collapse of Silicon Valley Bank on March 10 sparked a crisis of confidence that spread as far as Credit Suisse, which was forcibly sold to UBS five working days later.
The collapse of Silicon Valley Bank on March 10
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