ECB holds interest rate at record 0% low
12 March 2021 | 7:00 am
The European Central Bank has announced it is leaving its benchmark refinancing rate on hold at a historic low of 0%.
The United States reported nearly 1 million new coronavirus infections on Monday, the highest daily tally of any country in the world and nearly double the previous U.S. peak set a week ago as the spread of the Omicron variant showed no signs of slowing.
The United Nations is seeking more than $5 billion from international donors this year to tackle the humanitarian crisis in Afghanistan. It's the largest ever UN appeal for a single country, to avert what it describes as a "catastrophe". More than half of Afghanistan's population will need emergency assistance this year, with the UN estimating that 55 percent of Afghans are suffering from acute hunger. FRANCE 24's Business Editor Stephen Carroll has the details.
Two separate studies showed that 2021 was among the warmest years in the overall record, which goes back to 1880. The data underscores the global climate crisis.
The new wave of coronavirus infections in Germany has now surpassed numbers last seen in November. Experts are warning of the threat this poses to the unvaccinated.
Teenager Zara Rutherford is expected to become the youngest woman to fly solo around the globe when she is expected to return to Belgium on Thursday. The British-Belgian teenager landed in the German village of Egelsbach on Wednesday, one-stop short of completing a journey that will make her the youngest woman ever to fly solo around the globe.
During a press conference to mark his first year in office, US President Joe Biden cited high prices as one of the biggest problems facing the United States. Inflation hit a 40-year high of 7 percent in December. Our correspondents report from Washington on how a higher cost of living is driving many workers to change jobs for higher pay, and FRANCE 24's Business Editor Stephen Carroll looks at how the French government is tackling this issue.
It's been a rollercoaster 24 hours on global stock markets, with huge swings on Wall Street and volatility hitting its highest level since October 2020. Investors are waiting for the decision from the US Federal Reserve on when it will start raising interest rates, but are also concerned about the rising tensions at Ukraine's border. Meanwhile, Bitcoin has slumped as low as $33,000, down over 50 percent from its peak in November. Our Business Editor Stephen Carroll has the details.
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.
Stock markets slumped in Asia on Thursday and European shares started the day's trading in the red, after signals from the US Federal Reserve that it could raise interest rates more than three times in 2022. Fed Chair Jerome Powell said the central bank's policy committee was "of a mind" to start raising rates in March, and that it would be guided by the economic data. FRANCE 24's Business Editor Stephen Carroll looks at market reaction to the announcements.
Inflation fed by high oil and gas prices hit record levels in Europe for the third month in a row, extending pain for consumers and sharpening questions about future moves by the European Central Bank. Once again, soaring energy prices played a major role, rising a painful 28.6%.
After massive loses in 2019 and 2020, European aircraft giant Airbus has shifted towards "recovery and growth" and made more money than expected last year. The company now aims to ramp up production.
South Korea's prime minister has asked people to not "panic" as the country sees a record high in daily COVID-19 infections. Meanwhile, Hong Kong will test its entire population in March. DW has the latest.
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