Zimbabwe banks on cows as inflation soars
04 September 2022 | 5:45 am
Investing money into cattle is a growing business in Zimbabwe, where inflation is skyrocketing. Many people now consider it safer than putting money in the bank.
The Japanese and Indian currencies plunged to their lowest records in decades against the US dollar as Washington looked set to hike interest rates in a bid to tackle inflation.
Federal Reserve raises key interest rate 0.75% as it tries to calm inflation. The Federal Reserve said on Wednesday that it is raising its benchmark interest rate by three-quarters of a percentage point, the sharpest hike since 1994, as it seeks to combat the fiercest surge in U.S. inflation in four decades.
Since Russia invaded Ukraine four months ago, the cost of living crisis has become a global issue. Prices have gone up around the world. In Europe, the countries that use the euro saw an average of 8.1 percent inflation in May. Pressure on prices, combined with stuttering economic growth, has sparked fears of a recession. These concerns could still come into play regarding the EU's response to the Russian invasion of Ukraine. In this programme, we're joined by two MEPs to discuss how the EU should balance sanctions against Russia with the risk of recession.
Zimbabwe's central bank has announced plans to sell gold coins in a bid to tame runaway inflation that has considerably weakened the local currency.
US President Joe Biden's administration remains divided on whether to allow some of the tariffs to expire to ease inflation or renew them to maintain leverage over Beijing.
Rising inflation worldwide has made nearly everything more expensive - from energy to essential consumer goods. One country hit the hardest by rising prices is Argentina - inflation hit 51% at the end of 2021 and is expected to top 70% by the end of this year. Our correspondents Eléonore Vanel and Nicolas Flon took a look at the different avenues - both legal and illegal - Argentinians are taking to deal with the skyrocketing cost of living.
Before publishing its newest economic forecast Thursday, the Eurogroup is addressing issues driving policy. Coronavirus, supply chains and Russia's war on Ukraine are just some of the headaches they are dealing with.
Inflation in the US sent prices for gas, food and rent surging in the fastest rate since 1981. The pressure on US households is likely to lead to the Federal Reserve hiking interest rates again.
The Hungarian government has just extended price caps on fuel and other items until July 1. Will that work against soaring prices?
Estonia is considered the richest country out of the three Baltic states, and yet it has the highest inflation in the eurozone. That's making life difficult for the poor.
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.
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