rate at 5 5.25%. but it has won the there may be increases later in this year. what exactly is the european central bank thinking? when it comes to its increases today, here is what the president had to say. indicators of underlying the president had to say. indicators of underlying price the president had to say. indicators of underlying price pressures - the president had to say. indicators| of underlying price pressures remain strong, although some show tentative signs of softening. staff have revised up their projections for inflation, excluding energy and food, especially for this year and next, owing to past upward surprises and the implications of the robust labour market for the speed of this inflation. they now see it reaching 5.1% in 2023, before it declines to 3% in 2024. 50 5.1% in 2023, before it declines to 396 in 2024- 5.196 in 2023, before it declines to 396 in 2024. ., ., 396 in 2024. so that view there from the eumpean 396 in 2024. so that view there
historical rate hiking campaign hours the time to take a break and give the time to adjust to its actions that have pushed up the cost of borrowing for things like mortgages, business loans, and credit cards. the decision left the fed s benchmark at between 5% and 525%. for companies and consumers alike the pain may not be over. as fed chair jerome powell meekly during his press conference, with us inflation running above the bank s 2% target its job is not yet done. i bank s 2% target its “ob is not et done. ~ . , bank s 296 target its “ob is not yet amt yet done. i think, as anyone can see. yet done. i think, as anyone can see. not yet done. i think, as anyone can see, not a yet done. i think, as anyone can see, not a single - yet done. i think, as anyone j can see, not a single person yet done. i think, as anyone i can see, not a single person on the committee wrote down a rate cut this year. nor is it likely to be appropriate, if you think about it, inflation ha
there was not a rate cut this year there was not a rate cut this year nor there was not a rate cut this year nor is there was not a rate cut this year nor is it likely to be appropriate if you think about it. inflation has not moved down it. inflation has not moved down and it is not reacted much to our down and it is not reacted much to our interview existing rate hikes to our interview existing rate hikes so to our interview existing rate hikes so we have to keep at it. most officials think two more rate hikes are needed this year, starting perhaps as early as next month. wednesday s decision ushers in a new phase in the fed s battle to lower prices and follows a path carved out by central banks in countries such as australia and canada, which recently announced rate hikes following a break. the latest decision by america s central bank comes at a time when inflation is slowing but not as quickly as the federal reserve wants. earlier, i spoke with blerina uruci o
the united nations is leading a global appeal to help pakistan cope with the devastating floods which have left a third of the country under water and killed more than 1,100 people. provinces like sindh and balochistan in the south are the worst affected but mountainous regions in the north west have also been badly hit. the crisis is not over yet as heavy rain continues and water surges down the indus river. sean dilley reports. in some parts of pakistan, it s been relentless. more than 33 million people have been affected by flooding in the country s heaviest rain for more than a decade. this year s monsoon season has claimed well over 1,100 lives since june. more than 3,500 kilometres of road have been damaged, and over 993,000 homes, too. in the northern city of sukkur, temporary retreat for families washed out of their homes. translation: our houses have i collapsed because of the floods. we had a home and it was enough for us. now all our belongings are buried und