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the future of banking balancing ai innovation and traditional finance challenges

The collapse of Credit Suisse highlighted significant failures in management and risk assessment, emphasizing the need for better bank supervision. While concerns about UBS's size persist, the financial sector remains crucial to Switzerland's economy, benefiting from foreign assets and lower interest rates. The rise of AI in banking is expected to enhance risk monitoring but may also lead to job losses, as younger generations increasingly prefer AI-driven financial advice.

US Federal Reserve implements significant interest rate cut to boost economy

The U.S. Federal Reserve has cut its key interest rate by 0.50% to 5%, marking its first reduction since March 2020. This decision, anticipated by many, is expected to lead to further easing, with forecasts suggesting an additional 1.5% cut by 2026. The move aims to alleviate financial pressure on households amid rising inflation and high credit costs, while also potentially impacting mortgage and loan rates.
09:00 23.09.2024
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