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turmoil is spreading. credit suisse will borrow almost $54 billion from swiss bank. the bank stock surging in the first few minutes of trading today in europe as shares plunged to a record low on wednesday after getting cut off by its biggest shareholder. anna stewart is live in london. markets are now open there. what is the latest? >> reporter: i think that we're seeing a bit of relief now on the european indices particularly with the banking stocks. let me show you how the european market opened. all the major indices are higher by around a percentage point led by the smi in switz...

The next few hours. not great timing perhaps for the ecb, but i'm sure that they will want to talk about the crisis that we saw around credit suisse and slump in the banking stocks yesterday. will they still increase rates by expected half a percentage point. i don't know. they may have to increase it by lessor cancel the rate hike all together. i think other central banks will be watching this very closely. because next week is busy, we have the bank of england and the federal reserve and even the swiss national bank all making rate decisions. >> and you can bet all those policymakers will be...