signs of inflation slowing in the worlds largest economy but fears of recession in the us are growing. plus the world bank has set a leadership change at a time where it's unprofessionalfor change at a time where it's unprofessional for world leaders for the analysis of what's next for the institution. hello and welcome to asia business report i karishma vaswani. we start this morning and the worlds largest economy, the united states where inflation is dropped to

its lowest level for nearly two years. consumer prices rose by 5% of the year to march, a far cry from the 9% it was that in june. but there are warnings of a possible recession in the pipeline. our business reporter is katie silver, she's been looking through the dater and joins me now on the programme. great to have you on the show. this looks pretty optimistic, doesn't it was back it's good news it isn't it? it’s doesn't it was back it's good news it isn't it?— news it isn't it? it's good news it isn't it? it's good news but it _ news it isn't it? it's good news but it needs - news it isn't it? it's good news but it needs to - news it isn't it? it's good news but it needs to be i news but it needs to be analysed further and taken with analysed further and taken with a grain of salt. inflation is down and there are warnings every session but still we are hearing the fed may hike rates for the three things that don't normally go together. in terms of the inflation figure we heard 5% growth in the month of march for the 5% inflation in the month of march down 6% one month earlier. it's been welcome particular by president biden who says this provides families with breathing room and an opportunity to balance

their bank balances in this time. particularly seeing reductions in the cost of food and fuel do things hugely important for american families. 5% is still a far cry from the 2% target that most major economies target when it comes to inflation. we have seen particular price rises in vehicles and medical care, things are very important to american families as a result wear hearing the fed may continue to hike interest rates at the next opportunity in the order of about 25 or quarter of percentage point, which is lower than they have been. they will make it the tenth hike in a row as well as the fact that we are seeing at the moment interest rates at their highest level in 15 years. we also heard there are predictions of the economy will tilt into recession by the end of next year as a result of the banking crisis that we had been speaking about time and time again. hit the failures of signature banks as well as credit suisse they are predicting it might see economic growth at around four

point present. economic growth at around four point present-— point present. thank you for keein: point present. thank you for keeping us _ point present. thank you for keeping us up-to-date - point present. thank you for keeping us up-to-date on i point present. thank you for i keeping us up-to-date on that keeping us up—to—date on that story. as katie was saying about inflation in the united states is a similar picture in india where the countries retail inflation for march rose at the slowest pace in nearly 15 months. the consumer price index rose 566% from a year earlier according to government data released on wednesday. that never falls within the inflation target band of around two and 6% set by the reserve bank of india. last week the central bank held its key rate study after six consecutive hikes. despite consumer prices showing signs of moderating in the us in india inflation is still very much a concern but officials at the international monetary fund for the risk to the global economy that the fund is worried about. our north america north america bidders corresponded with speaking to the deputy managing director of the imf. we speaking to the deputy managing director of the imf.— director of the imf. we are seeinu director of the imf. we are seeing multiple _ director of the imf. we are seeing multiple kinds - director of the imf. we are seeing multiple kinds of i seeing multiple kinds of stresses. we are in an environment where inflation is

still too high. it is well above central—bank targets which is why they are raising interest rates to bring it down. we saw in march the banking sector turmoil we had in the us and in switzerland. that's come down for now but we know that after a decade of low interest rates lots of vulnerabilities have built up. we could see it much more stress going forward. that's a risk, it's not our baseline. but that is a risk. the other as we worry about is what might happen with energy prices. the war is definitely not over. climate risks are abundant. these are many of the concerns we have. . , ., ., we have. the latest inflation numbers _ we have. the latest inflation numbers in _ we have. the latest inflation numbers in the _ we have. the latest inflation numbers in the united - we have. the latest inflationl numbers in the united states have been released. it shows a bit of a mixed picture. should the united states continue to raise interest rates?- raise interest rates? inflation numbers have _ raise interest rates? inflation numbers have come - raise interest rates? inflation numbers have come mostly l raise interest rates? inflation| numbers have come mostly in night with what was expected. we have headline inflation

that's now around 5% for the parkour is at 5.6% that's what we've been worried about. —— the core. something by the way we see all over the world, which is why headlights are coming down because energy crisis in food prices are coming down for the core inflation which is what monetary cares about is been more stubborn and sticky. our message on staying the course for central banks to bring inflation down remains. meanwhile the finance ministers of india, japan and france will hold a press briefing on thursday on the sidelines of the imf spring meeting to announce the launch of debt restructuring negotiations for sri lanka. our indian business correspondent has more of what's expected. this marks the launch of formal restructuring negotiations between sri lanka and some of its biggest creditors for the depressed briefing will be addressed by the finance ministers of india,

japan and france along with the sri lankan president. the three credited countries have been working closely to urge the debt restructuring in a coordinated fashion, the international monetary fund fund has said but this precisely means, whether it's a reworking of repayment timelines or loans is something that will be discussed in feedstocks with all of the countries will have to agree upon the same terms. they would support the structuring with a crucial precondition for $3 billion bailout that came through last month. this is the countries in 17th time at bailout was approved after serious shortages of foreign exchange reserves and at unprecedented financial crisis led to sri lanka defaulting on its external liabilities. the country continues to be in the grips of soaring inflation as well as a shortage of essential commodities such as food and fuel. one and three sri lankan

families experiencing food insecurity. latertoday families experiencing food insecurity. later today the world banks outgoing chief is due to address the media for the v announced his resignation in february and will be stepping down at the end of june. the organisation will select a new president next month. the former chief executive is the most likely candidate following his nomination by the united states, the banks largest shareholder. it's been a lot of discussion about what lies ahead for the world bank, which is also the pressure to focus more on global public goods like climate change for the earlier i spoke with the centre for strategic and international studies and she told me the world bank isn't the only multilateral development banks facing this kind of pressure. there is a lot of pressure are notjust there is a lot of pressure are not just the world there is a lot of pressure are notjust the world bank but on all of the development banks to really increase their work and their efforts on so—called global public goods. and the two that really are front and

centre are pandemic preparedness and also climate change. so how exactly the institutions do that i think is a big question beyond just the mandate to do more on global public goods is the question of how additional work on that front is finance. 50 how additional work on that front is finance.— how additional work on that front is finance. so how much should we _ front is finance. so how much should we expect _ front is finance. so how much should we expect going - front is finance. so how much l should we expect going forward or depend on multi—development banks like the world bank for financing when it comes to things like climate change? are using a shift there at all? certainly the developing banks are in important provider of financing in the tens of billions of dollars. the needs are only going to increase and i think the demands of institutional financing will continue to increase. if you been listening to the discussions at the spring meetings the needs are not even in the billions of dollars they are actually in the trillions of dollars. so in terms of what the official sector can bring,

certainly very important financing. i think it's the role that these institutions can have in mobilising additional private finance. what we really need to meet the moment and meet the needs that are stemming from these global public goods is an order of magnitude that really requires the mobilisation of massive amounts of private capital. you've outlined the challenge really well because you do need more financing from the private sector for that how did they go about getting that in working with the private sector to achieve this?— with the private sector to achieve this? the banks are already doing _ achieve this? the banks are already doing this _ achieve this? the banks are already doing this to - achieve this? the banks are already doing this to a - achieve this? the banks are i already doing this to a certain extent. in terms of bringing the climate sector to the table but what you will hear his demand for them to do more. and you'll hear a lot of the use of the world de—risking. so how can these institutions de—risk certain projects so that it becomes more attractive for the private sector? they have mechanisms to do that now

through the provision of guarantees. but i think they'll be a lot more pressure on them to do more for them as far as the type of risks that they can help to mitigate, that's a big question and i think there needs to be some innovation as far as the source of activities these banks can support. and when we are talking about things like the energy transition, are there more creative ways that these banks can work to actually speed transition by bringing in more private capital?— private capital? stephanie sie . el private capital? stephanie siegel from _ private capital? stephanie siegel from the _ private capital? stephanie siegel from the centre - private capital? stephanie siegel from the centre forj siegel from the centre for strategic and international studies speaking to be a little earlier. before we go i want to tell you how the e—cigarette manufacturerjoule apps has manufacturer joule apps has agreed manufacturerjoule apps has agreed to pay for access hundred and $62 million to settle claims by six us states after being accused of targeting teenagers. the firm did not admit wrongdoing and said the latest deal was part of its commitment to resolve issues from the companies passed. ggoo has been accused of fuelling an increase in

teenage shaping. the company has repeatedly denied targeting young people but critics point to its colourful packaging, variety of flavours and use of young models in ad campaigns. that is it from us. thank you for watching. that is it from us. thank you forwatching. do that is it from us. thank you for watching. do stay bbc news. birkenhead park has always been at the heart of the community. from royal visits to rugby games. and today it's in the running to be a unesco world heritage site. birkenhead park was the world's first publicly funded park. it opened its gates in 1847, and since then has become the blueprint for green spaces around the world, most famously for new york's central park. and today, this green space welcomes around 2 million visitors every year. we do get visitors coming

from all over the world we want people to come in on the cruise ships, come to the park and see what we've got here, because i know central park's probably ten times bigger than this. but we're special. we area we are a little oasis. we used to come here we were young — we used to come here we were young. now are not quite as young. — now are not quite as young. we got the kids, the grandkids. they're all here now and we love it. other sites shortlisted for the honour include york city centre and a collection of iron age settlements in shetland. there are 33 unesco sites in the uk, and birkenhead park is hoping tojoin them on the prestigious list, which recognises cultural, historical or scientific significance. hey i'm kash with the catch up tonight. biden visit northern ireland, scotland's gender reform and ariana grande has a message

to herfans. first up, us president joe biden has been in northern ireland to mark 25 years since the end of the troubles, a conflict that saw more than 3,000 people killed. he met political leaders, including prime minister rishi sunak, before giving a short speech in belfast, where he talked about the importance of keeping the peace. every person killed in the troubles left an empty chair at the dining room table and a hole in the heart that was never filled for the ones they lost. peace was not inevitable. we can't ever forget that. other news now. the uk's government decision to block legislation that aims to make it easierfor people in scotland to change their legally recognised gender is to be challenged in court. the scottish government argues that the current process is too difficult and invasive and causes distress to an already marginalised and vulnerable minority group.

singer ariana grande has called on fans to be gentler about comments on her and other people's bodies, after recent scrutiny of her appearance on social media. and a new study showed 63% of teenage girls can't name any of the lionesses. a report by football beyond borders suggested that a lack of diversity in the england women's team is one of the factors. now i want to leave you with 10 seconds of tech. scientists have designed a robotic 3d—printed hand that can grasp and hold objects using only the movements of its wrists. that's it from me. see you.

hello, i'm tulsen tollett and welcome to the bbc sport centre. coming up on this programme: holders real madrid have one foot in the champions league semifinals while ac milan hold off napoli in an all—italian affair. the uk and the republic of ireland submit theirjoint bid to host euro 2028, but two of the proposed stadiums aren't even built yet. and a first—ever women's team gold at the european championships for great britain.