Finance expert reveals how HSBC's takeover of Silicon Valley Bank affects you

A finance expert has revealed how HSBC's takeover of Silicon Valley Bank's UK arm will affect your money.

Senior finance lecturer Louise Cooper appeared on GMB this morning (13 March), to calm viewers' nerves after it was announced HSBC would be rescuing the bust enterprise for just £1.

“Two banks going bust, the implication is that interest rates have been raised “too quickly” and there could be damage done to the underlying economy,” she says,

“The interest rate increase will be much lower than previously expected."

It's good news for those looking to make big decisions such as remortgaging.

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