Nigeria MPC meeting expectations

Notwithstanding the hike in the price of foodstuff, ram and other items in Nigeria due to Eid-el-Kabir, Muslims in Nigeria are celebrating the holy festival also known as Eid-al-Adha. However, with the price of a ram ranging between ₦120,000 and ₦400,000, not everyone is smiling as they observe the yearly ritual.⁣⁣

It's the first time since the global financial crash that inflation in Germany has reached such levels. The coronavirus pandemic is not the only factor driving the surge.

Here are a few reasons to pick up a copy of The Guardian on Friday. Find these stories and much more when you grab a copy of The Guardian on Friday.⁣

Rising inflation suggests economic recovery is going well in the EU's east. But as Poland joins its neighbors in tightening monetary policy to stem further rises, is this the start of an era of higher borrowing costs?

In Turkey, young people recently expressed their frustration with the authorities when students protested an ongoing spike in housing prices. This protest movement reflects the growing difficulties of the general population amid sky-high living costs, even as the government refuses to acknowledge the economic crisis. Our Istanbul correspondents Ludovic de Foucaud, Hussein Asad and Shona Bhattacharyya report.

The US consumer price index rose at an annual rate of 6.2 percent in October, its biggest jump since 1990. Also, amid the country's tight labour market, Starbucks workers hope to form the first-ever unions at the company's US branches. Finally, Tesla CEO Elon Musk sells $5 billion in company shares.

Pakistan is witnessing an unprecedented economic turmoil, with the inflation rate rising exponentially. DW spoke to some locals who say it has become impossible for them to make ends meet.

Inflation is continuing to soar in advanced economies around the world. In the UK, the consumer price index rose by 4.2 percent in October, the highest in a decade, while the eurozone's inflation rate hit a 13-year high. Also in the show: the EU proposes new rules to combat deforestation, and thousands of Chinese millennials seek a new life on rural farms.

France's popular, government-regulated tax-free savings account scheme, known as the "Livret A", is likely to raise interest rates in February after recording the biggest deposit outflow since 2014.

The omicron variant of Covid-19 has added a fresh layer of uncertainty to global stock markets. Rabobank's Senior Market Strategist Christian Lawrence talks us through the latest volatility, and what he expects from central banks in the coming weeks. Also in the show: India's coal mines could hamper the country's efforts to reduce carbon emissions.

The Federal Reserve is paving the way for possible interest rate hikes next year, in an effort to contain stubbornly high inflation. At the conclusion of a two-day policy meeting Wednesday, the central bank announced plans to phase out its large-scale bond-buying program faster than initially planned. The Fed started purchasing bonds during the pandemic as a way to keep borrowing costs across the economy low and to prevent any market disruptions.

2021 brought big changes to households and businesses around the world. In the last show of the season, Stephen Carroll and Kate Moody take a look at some of the biggest business and economic stories of the year and how they might evolve in 2022.