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Added on the 20/05/2022 15:23:49 - Copyright : AFPTV - First images
European Central Bank President, Christine Lagarde, announces the ECB is lifting its key rates of interest by 75 basis points, leaving them sitting in a range of between 0.75 and 1.5 percent. It came after the bank hiked rates by 50 basis points in July, its first increase in more than a decade, in order to tame record eurozone inflation. These levels "will ensure the timely return of inflation to our 2% medium term target" she says, during a press conference in Frankfurt. SOUNDBITE
German President Steinmeier appoints Joachim Nagel as the new head of the Bundesbank as the EU's top economy comes under pressure from inflation and Omicron. IMAGES
US Federal Reserve Chair Jerome Powell announces that the US Federal Reserve has voted to keep interest rates at a 22-year high, between 5.25 percent and 5.50 percent. SOUNDBITE
The European Central Bank president Christine Lagarde says that the ECB is raising interest rates again and signals it would "stay the course" in its monetary policy tightening, even as sky-high inflation starts to slow. SOUNDBITE
IMF chief Kristalina Georgieva warns that if central banks move too aggressively to tamp down price pressures, it could trigger a "prolonged" economic downturn. SOUNDBITE
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