International monetary funds Chief Economist Pierre Olivier gourinchas. The imf and the world bank are having their annual meeting in marrakech and later today, Finance Ministers from the 620 and Central Bank Governors will be meeting to discuss the health of the Global Economy. According to the imf, Global Growth remains dampened by Supply Chain Disruptions linked to the covid 19 pandemic and russias war in ukraine, persistently high inflation, and spiralling borrowing costs. Heres our economics editor faisal islam. The message from the imf for the 190 Finance Ministers and central governor business in marrakesh is that the World Economy they hope had turned a corner after three years of rolling your clinical crisis. Well, it is limping forward rather than sprinting forward now with geopolitical crisis. Slowdowns in very specific countries like china that they had not expected. There is an additional worry about this new higher for longer Interest Rate world that might affect the bank
while india s growth story is strong, but inflation has been a sticking point, and on friday last week, the central bank also did not change the key interest rate, kept it on the higher side, showing its concern on the rising food prices. so that is something the government keenly wants to contain, and after the export curbs were announced last friday, the wholesale prices of onions did see some crashing down but this certainly has not left the exporters very happy. onions are so important to indian cooking aren t they? we saw the response from the farmers, who blocked that highway, what has the response from ordinary people been? well, onion prices have actually gone up substantially since last year, they are almost double. it is a kitchen staple in india and it is also a political subject across states in india, that is why the government is keenly focused on that. there are certainly has been a respite in prices, but most of it will reflect only in coming days when it move
will be key, but export curbs on onions is not the first one. we have seen the government take this road for rice and wheat earlier this year, and prices did come down in the domestic market after the export curbs were announced in the same happened with onions. wholesale market prices have actually been seen coming down, so that is really in the focus because despite the growth story that india portrays where we have seen multiple people updating their growth numbers in the coming months, inflation is still a sticky point and it was the reason why the central bank last friday kept the key interest rates unchanged on the higher side, showing its concern on rising food prices. onions are so important to indian cooking, aren t they? and we have seen some reaction from the producers of onions, those farmers blocking the highway. what has the response been otherwise? at been otherwise? at the moment, onions, been otherwise? at the moment, onions. which been otherwise? at the mo
Business report with sally. Another brazilian president on trial for corruption we tell you whats at stake as michel temer faces removal after less than a year in the job. Apple unveils its homepod so will this revolutionise your experience in the home or is this a poor attempt to catch up with its rivals . Welcome to World Business report. Im sally bundock. In a minute well cross over to our Asia Business hub to hear about toshibas efforts to sell its microChip Business. But first it doesnt seem like all that long ago we were talking about brazils meteoric rise to economic stardom as one of the so called brics. But all that has come crashing down thanks to a string of Corruption Allegations involving top politicians and companies. And it could all come to a head again later today as brazils Top Electoral Court resumes its trial against the countrys former president Dilma Roussef and her successor michel temer. This is how the economy has fared over the last five years. Since rousseff
Election, frances new president Emmanuel Macron looks set to win a landslide in the countrys parliamentary elections. Can he pushed through the major reforms that you promised voters, including Cutting Spending and overholding frances strict laws. Do you still trust the politicians . Do they deliver on their promises . Or do they just say what you want to hear to win your vote . Let us know, use the hashtag bbc Business Live. A very warm welcome to the programme. Do get in touch with your thoughts. The Prime Minister has formed a new government, and today she will be holding her first Cabinet Meeting says the election. Senior ministers reappointed by theresa may have publicly given hubbard backing, but several are reported to have demanded greater influence in return for their support. Meanwhile, the uncertainty caused by the General Election has led Business Confidence in the uk to sink through the floor. That is according to a lobby group that did according to a lobby group that did