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Added on the 31/10/2023 11:12:49 - Copyright : Trace Urban
The European Central Bank is setting the stage to raise interest rates in July, for the first time since 2011. Policy makers have been under growing pressure to tackle soaring inflation, which hit a record 8.1% in the Eurozone in May. Frédérik Ducrozet, Head of Macroeconomic Research at Pictet Wealth Management, tells France 24 it will take time for households and businesses to feel the effects of the change.
Shelling was heard in the northern part of Kharkiv on Thursday afternoon while smoke billowed from residential neighborhoods. At least one house was destroyed, and others set on fire by the shelling.
The US Federal Reserve is setting the stage to raise interest rates in March, to combat elevated inflation. It's also taking further steps to phase out its emergency support of the US economy. Nancy Vanden Houten, Lead US Economist at Oxford Economics, says America's central bank has limited tools to fight the surge in prices. Also in the show - workers at France's EDF go on strike, over government efforts to limit electricity bills.
Japanese Prime Minister Yoshihide Suga said in a surprise move on Friday he would step down, setting the stage for a new premier after a one-year tenure marred by an unpopular Covid-19 response and sinking public support.
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