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Added on the 19/10/2016 19:22:17 - Copyright : Reuters EN
"A decision on a pause was not made today," Fed Chair Jerome Powell says during a press conference when asked whether the US Federal Reserve has made the decision to pause rate hikes. SOUNDBITE
US Federal Reserve Chair Jerome Powell announces a 0.25 percentage point increase in interest rates, but signals that the battle to rein in inflation is not yet over. "We continue to anticipate that ongoing increases will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time," Powell tells reporters at a news conference. SOUNDBITE
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
The Bank of England announces in a press conference it is hiking its key interest rate by 0.75 percentage points, the biggest increase in 33 years, to fight inflation set to peak around 11 percent in recession-hit Britain. The latest rate hike mirrors aggressive rate-tightening by central banks worldwide as economies battle the highest prices in decades. SOUNDBITE
The European Central Bank President Christine Lagarde warns that growth in the eurozone risks slowing further, while inflation could continue to rise beyond recent record highs. SOUNDBITE
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