Great Recession

In real terms, adjusted to inflation, rent and home prices declined in February compared to January across Türkiye and the country's three largest cities, according to a report from Istanbul-based Bahçeşehir University's Economic and Social Research Center (BETAM).

China's central bank yesterday cut a key benchmark lending rate used to price mortgages, as Beijing seeks to rescue its housing market from a deepening crisis and boost flagging growth in the country's economy.

The third biggest concern was “economy and jobs”

Redoubling support for war-stricken Ukraine is the "single best" way to aid the global economy, U.S .Treasury Secretary Janet Yellen said Sunday, along with boosting emerging economies and tackling debt distress.

Greece's economy is particularly vulnerable to fluctuations in international energy prices due to its high dependence on fossil fuels, and despite the support provided to industry and low-income households, could be severely affected by prices, the European Commission noted this week.

Demand has been rising for secondhand cars in a market trying to fend off the tight supply of new vehicles.

Besides the availability problems, what drives the demand is people's expectations that prices will go up in the coming months due to the perceived depreciation of the local currency.

Swiss Finance Minister Karin Keller-Sutter said Switzerland's economy would probably have collapsed had Credit Suisse gone bankrupt, in an interview published yesterday.

Keller-Sutter told Le Temps newspaper that the government had acted in the country's best interests in swiftly arranging the takeover of Switzerland's second-biggest bank by its larger domestic rival UBS.

Prices of residential properties in Slovenia kept rising last year but the number of transactions fell, in particular in Ljubljana. Overall, prices rose by 11.3%, fresh statistics show.

The increase in home prices recorded in 2022 was the second most substantial in recent years and follows a 15.8% spike the year before.

Developments over the past week have felt eerily familiar for those of us who followed the global financial crisis in 2008. Analysts argued in early 2008 that Bear Stearns' problems were a result of poor management and a failure to hedge risk. The spread of instability to a European bank (Commerzbank) was considered to be limited. Sound familiar?

The banking crisis that hit Silicon Valley Bank (SVB) last week has spread. We recall with a shudder two recent financial contagions: the 1997 Asian Financial Crisis, which led to a deep Asian recession, and the 2008 Great Recession, which led to a global downturn.