SQUAWK BOX, THURSDAY 29TH JUNE, 2023

The world’s top central bankers meet at the ECB annual forum in Sintra, Portugal and stand firm on further rate hikes. U.S. Federal Reserve Chairman Jerome Powell says restrictive policies have not been restrictive for long enough to rein in inflation. ECB President Christine Lagarde tells CNBC that more hikes remain a prospect and that the central bank requires more time to assess its previous moves. U.S. markets are flat on the comments coming from Sintra but Apple stands out closing close to a record $3tn market cap. The main U.S. banks easily pass the Federal Reserve’s stress tests but concerns remain about the health of smaller regional lenders. In tech news, Micron beats Q3 earnings expectations on soaring A.I. demand and supply bottlenecks clearing.