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Added on the 16/03/2022 20:01:26 - Copyright : AFPTV - First images
European Central Bank President Christine Lagarde warns that Russia's decision to exit a landmark deal for the export of grain from Ukraine could push food prices higher and add to inflation. The withdrawal constitutes "upside risks to inflation", Lagarde says, after the ECB raised rates for the ninth straight time to fight fast-rising consumer prices. SOUNDBITE
A perfect storm of doom has been pummeling the global economy in recent months, undermining global growth expectations, but the IMF warns the worst-case scenario is plausible, which would cut growth to one of the lowest levels in the past five decades. SOUNDBITE
The world's economic outlook is "much more pessimistic" as a result of the war in Ukraine, warns Secretary-General Mathias Cormann, as the OECD slashes its 2022 growth forecast and projects higher inflation. SOUNDBITE
Paolo Gentiloni, European Commissioner for Economy, announces that the EU is sharply cutting its eurozone growth forecast for 2022 to 2.7 percent as the bloc struggles with skyrocketing energy prices due to the war in Ukraine. SOUNDBITE
Inflation could rise higher and stay there longer than expected as the US economy recovers from the downturn caused by the Covid-19 pandemic, Federal Reserve Chair Jerome Powell says. He notes that inflation is well above the Fed's two percent goal, mostly due to temporary factors including supply bottlenecks. SOUNDBITE
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