Money Talks

Nearly a dozen central banks across the globe raised their benchmark interest rates during the week, in a bid to rein in rising consumer prices. The US Federal Reserve has been pushing up borrowing costs since March. It has announced its latest rate hike of 75 basis points, on Wednesday. Other central banks also have to contend with rising demand for US dollars.

For more on monetary policies around the world, we had Mario Unali from Milan and Amine Nedjai from London.

#FederalReserve #InterestRates #MonetaryPolicy

Turkish President Recep Tayyip Erdogan is meeting with economic managers on Friday, partly to discuss the fate of the Russian payments system Mir. Two of Türkiye's largest banks, Denizbank and Isbank, have already suspended the use of the Mir platform this week. State-owned financial institutions, Halkbank, Vakif and Ziraat, continue to allow Mir transactions on their networks.

#Mir #Sanctions #PaymentSystems

Federal Reserve hikes interest rates by 75 basis points on Wednesday. Global stocks are in free fall as monetary policy makers in the US pledged to keep up their fight against inflation, even if it comes at the expense of economic growth.

For more on US monetary policy, we spoke to Danni Hewson, who is a financial analyst at AJ Bell in the UK.

#FederalReserve #InterestRates #Inflation

Energy markets are surging amid continued uncertainty over supply levels, due to the crisis in Ukraine. The commodity erased losses from overnight caused by fears over lower demand from a weak global economy. Adding to worries over the availability of oil is the failure of the world's producers to pump out what they've promised. Latest available data show the global cartel OPEC+ is, on average, more than 3.5M barrels short of its daily output goal.

For more on energy markets, we spoke to David Madden, who is a market analyst at Equiti Capital in London.

#EnergyPrices #Oil #NaturalGas

Global markets are up on Tuesday as investors wait for a string of central bank moves aimed at tackling surging consumer price hikes. Many expect another rate hike by the US Federal Reserve. Monetary policymakers in the UK and Japan are also expected to announce higher borrowing costs this week.

For more on global markets, we spoke to Naeem Aslam, who is the chief market analyst at AvaTrade in London.

#CentralBanks #InterestRates #Inflation

China is yet again bucking the global trend of interest rate hikes, with policymakers there slashing borrowing costs to prop up a struggling economy. The central bank in Beijing has announced a slight reduction in its main benchmark rates, to encourage lenders to extend more credit to households and businesses.

For more on Chinese economy, we spoke to Han Tan, who is the chief market analyst at Exinity Group in Abu Dhabi.

#China #InterestRates #PBOC

There's no end in sight to the crisis in Ukraine, and the turmoil it's caused in energy markets. So in major economies, discussions among policymakers now revolve around how much fuel they can get, from where, and at what price. That's drowned out calls for governments and companies to wean themselves off fossil fuels that are destroying the planet. But as Paolo Montecillo reports, there are still some who have their priorities straight.

For more, we were joined by UN Environment Programme Climate Change Coordinator, Niklas Hagelberg from Nairobi.

#ClimateCrisis #Patagonia #FossilFuels

One third of food products go uneaten into the garbage. That's according to the UN Environment Programme, which estimates this food waste adds up to more than 1.3B tonnes each year. That's enough to feed every single person living below the poverty line, four times over! Turkish start-up Fazla Gida is one of many companies now trying to find innovative solutions to this global problem.

#FazlaGida #FoodWaste #FoodPrices

On Tuesday, the Dow Jones had its worst day since June 2020. All this took place after a key August inflation report came in hotter than expected, hurting investor optimism for cooling prices and a less aggressive Federal Reserve.

While global markets are gripped by fear of a looming economic recession, one industry that seems to be staving off the slowdown, is technology. Mark Chaffey is CEO at Hackajob, a recruitment platform for tech firms. He says the sector's demand for skilled workers is rising at record pace.

#StockMarkets #Inflation #TechTalents

Spiraling energy prices are threatening to shut down thousands of businesses across the EU. But the crisis is also reviving fortunes for some. Output from nuclear reactors is being raised and coal power plants, which were closed due to their environmental impact, are getting a new lease on life. Energy companies are reeling in billions of dollars in profit, and now officials want them to do more to rein in inflation. Tayyibe Aydin reports.

For more, we spoke to independent analyst Neil Atkinson in Paris.

#EuropeanUnion #Energy #WindfallTax