Former Bank of England Governor Mervyn King talks about central banks finding themselves on unfamiliar ground, the Federal Reserve's ability to raise interest rates, and the difficult work of the European Central Bank.

Staff strike at the Bank of England over pay, highlighting growing pressure on the government to lift a cap on public-sector wages.

JP Morgan Securities Chief U.S. Economist Michael Feroli discusses the U.S. January jobs report and Federal Reserve policy with Bloomberg's Shery Ahn and Vonnie Quinn on "Bloomberg Markets: Americas."

The selection of Andrew Bailey is expected to be confirmed by the treasury on Friday. The 60-year-old will become the 121st governor and will take over from Mark Carney, who leaves the prestigious post on January 31.

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.

It is the fourth month in a row the central bank's Monetary Policy Committee has voted for a rise. Policymakers are currently trying to stem inflation amid high energy prices sparked partly by Russia's war in Ukraine.

The Bank of England has followed the US Federal Reserve in raising interest rates. Both economies are battling the highest level of inflation in years and hope that tighter monetary policy will curb spiralling price rises. Also in the show: Australia's new government commits to more ambitious emissions reduction targets, and TV critics question Netflix's plans for a reality show based on the life-or-death hit "Squid Game".

Soaring inflation is prompting the bank to raise interest rates from current historic lows. The move could put a brake on rising prices but might also dampen growth.

The ECB bank has raised key rates by 50 basis points, more than it had signaled. The hike could hurt its credibility as being predictable, but that's a small price to pay in these unusual times, says Ashutosh Pandey.

The US Federal Reserve has raised interest rates by 0.75 percent for the third time in a row, bringing America's borrowing costs to the highest level since 2008. Like other central banks, the Fed hopes to tame inflation, which is hovering near 40-year highs.

The Bank of England has warned that the UK economy may already be in recession, as it hikes interest rates for the seventh time to combat the spiralling pace of price rises. Inflation is still hovering nearly 40-year highs at just under 10 percent.

The Bank of England has launched a £65 billion emergency bond-buying programme, in an effort to calm the markets and avert a financial crisis. The "unprecedented" support comes amid mounting criticism of the government's plan to slash taxes.