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Added on the 19/05/2022 13:55:00 - Copyright : Le Soir
Minutes reveal the Fed raised rates in December even as some policy makers remained concerned about inflation. Bobbi Rebell reports.
Tokyo, May 18 (EFE).- Japan’s gross domestic product (GDP) fell in the first quarter by 2 percent year-on-year, according to preliminary data published Monday by the government, representing the second consecutive quarter of economic contraction.Between January and March, the world’s third-largest economy fell by 0.9 percent compared to the last quarter of 2019, according to the first estimate made by the Cabinet Office with inflation-adjusted data.The GDP data provides the first estimation of the impact of the novel coronavirus pandemic on the Japanese economy, which accumulated drops in two consecutive quarters after falling by 0.7 percent year-on-year between October and December 2019 and 1.8 percent quarter-on-quarter.(Camera: FRANK ROBICHON).FOOTAGE SHOWS SHOPS AND STREETS OF TOKYO, JAPAN.
More positive picture for Europe’s economy Tuesday, UK inflation edges above zero for November, German investor morale on the up and European shares recover from previous session’s losses. Grace Pascoe reports.
Supply bottlenecks and a shortage of workers could put pressure on US prices for longer than expected, Federal Reserve Chair Jerome Powell says. "As the reopening continues, bottlenecks, hiring difficulties and other constraints can prove to be greater and longer-lasting than anticipated," Powell tells reporters following the central bank's two-day policy meeting. SOUNDBITE
The ECB has cut all three of its interest rates and expanded its asset-buying programme in a bigger-than-expected cocktail of actions to boost the economy and stop ultra-low inflation becoming entrenched. David Pollard reports.
The European Central Bank has cut interest rates and increased its asset-buying programme in order to stop exceptionally lower inflation from leaking into the overall economy, sais ECB President Mario Draghi (Rough cut - no reporter narration)
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