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Added on the 14/10/2013 15:21:38 - Copyright : Euronews EN
The Bank of England holds its interest rate at a 16-year high, insisting it was not yet the right time to cut with inflation staying high despite a fall to just above three percent. "That's encouraging. But we are not yet at a point where we can cut bank rates," he tells a press conference. IMAGES
"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
Eurozone inflation "dropped markedly" in September but is still expected to remain "too high for too long", European Central Bank President Christine Lagarde tells the press in Athens, whilst announcing that the ECB was holding interest rates steady. Policymakers had raised rates at each of their last 10 meetings as they sought to rein in soaring inflation driven in large part by surging energy prices in the wake of Russia's invasion of Ukraine. SOUNDBITE
European Central Bank President Christine Lagarde says Eurozone inflation is slowing but is still expected to be "too high for too long", as the ECB raises interest rates for the ninth consecutive time. SOUNDBITE
The European Central Bank president Christine Lagarde announces that the ECB will press ahead with a smaller interest rate hike as higher borrowing costs begin to take their toll, but says the inflation outlook remains "too high for too long". The central bank lifted its key rates by a quarter percentage point, down from half percentage point increases at its three previous meetings. SOUNDBITE
Federal Reserve Chair Jerome Powell announces a quarter-point increase in the benchmark interest rate to bring rising inflation under control, the first rate hike since the start of the Covid-19 pandemic. SOUNDBITE
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