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Added on the 01/02/2023 21:07:33 - Copyright : AFPTV - First images
The European Central Bank has opted to lift interest rates by half a percentage point, according to ECB President Christine Lagarde. The rate represents a smaller hike than previously as the ECB has been lifting borrowing rates at an unprecedented pace in recent months to bring down record-high consumer prices after Russia's war in Ukraine sent energy and food costs surging, but Lagarde warns that "based on the substantial upward revision to the inflation outlook, we expect to raise them further." SOUNDBITE
Federal Reserve Chair Jerome Powell announces a raise of the benchmark interest rate by three-quarters of a percentage point, adding that the Fed expects ongoing rate increases "will be appropriate." It is the second straight 75 basis point increase, and the fourth rate hike this year. SOUNDBITE
The U.S. central bank kept interest rates on hold but opened the door to another rate hike in June by signaling confidence in the U.S. economy. Bobbi Rebell reports.
Minutes reveal the Fed raised rates in December even as some policy makers remained concerned about inflation. Bobbi Rebell reports.
"My colleagues and I are acutely aware that high inflation imposes significant hardship as it erodes purchasing power," US Federal Reserve Chair Jerome Powell says in Washington. SOUNDBITE
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