as opposed to having came so far. so there is actually an inbuilt mechanism of reproduction and continuation of the protests. and if the images we see from iranian cities from yesterday, and even today is anything to go by, i don't see really any level of exhaustion or fatigue and the people. so i think we should expect this go on for a while actually come on my scene with university of sussex, mr. murphy, we appreciate your time, your insights tonight. thank you. ah, every journey begins with the 1st step and every language with the 1st word louis pinnacle. rico is in germany to learn german. why not learn with him a simple online on your mobile and free shopping d, w e learning course, nikos vague. german made easy on the green.

do you feel worried about the planet? me too. i'm neil. host of the on the green fence both coast and to me it's clear. we need to change the solutions or out the join me for a deep dive into the green transformation for me to do full of them. ah, ah, another rates rise from the european central bank. will this help keep rapidly rising prices under control, or is the bank of nudging europe into recession? we'll speak to an expert. also coming up. as the cost of living starts to bite, we look at the revival of the pawn shop. it's a time again, d, w, a business bolcom. the european central bank has raised rates to the highest for

more than a decade, adding on sunday 5 basis points to try and tame record inflation. the move marks a tough balancing act for the e. c. b, as it tries to keep prices under control while attempting to avoid a looming recession in the euro zone. the covey pandemic has left its mark, but more importantly, russia's war and ukraine and the knock on effect on fuel prices of putting the years on economy under pressure. andrarios now is fritzy cola guy who is chief economist at german state owned investment and development bank k f w. thank you very much for joining us for it. see both italy's prime minister maloney and france as president micron of warned against increasing interest rate saying it could cause of recession. the c b president of course says it's necessary to contain inflation. so who cited you on? well, i think and the current inflation readings that we're seeing in the euro zone, these d

b has to show that it's primary goal is to maintain price stability and, and about 10 percent for the euro's down as a total u. c. b, it has no other way than to increase interest rates for other in particular. also because inflation expectations are still above the 2 percent target for inflation for a b u result. but shouldn't the easy be just, except that the driver of inflation energy prices, primary drivers say, is outside of its control. in my view, the you see the ears taking those very closely into consideration. and i think it's also a fact that energy prices are explaining around half of inflation these days in the euro zone. i think that the u. c. b in

as discussions is very much also looking at the economic development. the reality also is that we do have the economic that we do have economic repercussions due to the very high inflation readings that we are seeing at this point. because we have purchasing power that people in the euro zone are losing because of those high inflation rates. and so at this point and those high readings, the c b, it doesn't have any chance, but to make sure that the, the inflation is being rained in. so i think at this point and also with regards to different measures of inflation expectations, niecy b has to send a very strong signal that it is willing to to bring inflation down.

ok. so sending an important signal that with the interest rate rise, um, where do you see yours on economy going from here? after all, the could be a tough winter ahead and multiple economists to pressing the easy be to do more to be as hawkish as the federal reserve all the bank of england, for example. well, i think that the euro zone is in for a difficult economic macro economic situation is in for a for, for, for a mild recession. we are seeing this in germany where we are looking into. 9 economic activity that in the year to come 2023 is going to shrink wildly. this of course will also feed back into less inflation pressures. and hence i think that

b, c, b will. and so basically has now been a very strongly that it will maintain price stability. and then at the end of the 1st quarter, 2023 will be able to use the to maybe come even down a little bit from, from the tide, new sites, the cycle. ok, so there are clouds, but may be some sun just on the horizon in the distance. thank you very much. that optimism that note of optimism at the end. pretty cool guy. thank you very much. i want to get more on those energy costs now. and you report in the international energy agency out or to day saying it, the high prices do come with the silver lining. the war in ukraine is speeding up a global departure from fossil fuel use, the adoption of more renewables. the paris base organisation says global emissions are set to peak by 2025, giving way to cleaner sources,

including renewables. rising prices for oil, gas, and coal behind the trend, the i. e. a said the wall was leading to profound and long lasting changes in energy markets. and as those rising energy prices that are weighing on households at the moment, especially in europe, some are struggling to afford the cost of living. in order to make ends meet. some people are looking to an age old solution for short term high interest loans, the pawnshop. the customers of the shop into his work have fallen on hard times. there's a video game console in the box. done from out of the owner gives the customer a receipt she has just given the consoling on as a collateral for that, she gets a 100 year alone for 3 months. with a monthly interest of 4 percent. looseness is up at michael myers swan shock due to the sky, rocketing cost of leaving his customers,

need more money than they earn. for him he had. what before the war lights border cost one year 39 cents. now it's up to one year or $99.00 fundraising coffee went from 3 years 60 to 4 years. everything cost more once alone has been granted. the pon item goes on a shelf video games rare model trains. anything with some resale value. if the customer doesn't pay back the loan on time, the pawn shop is entitled to resell the collateral that's the normal and then the regular forward i can make ends meet with her salary dispute. so now a lot of people come to our pawn shop who didn't need to do that in the past. the pawn shop is one of several branches, all located in the rural area in west germany at noon. and the pawn shop is for most customers pay off their loan on time and get their items back,

relic swatches are particularly valued up to 18000 years or more. one of them belongs to the boss of a manufacturing company. my 100. here's the problem for many trade on how their claims don't pay by. they still have to pay their bills and rent taxes salaries in at the end of the money that they bring in their expensive watches in the toilet. one of these men once upon a tv set, so he can pay his gas bill for we used to pay $150.00 euros. now it's $250.00. we feel that good. he gets 100 years ago enough for now. at the end of the week, he expects the government's gas allowance payment for the next month. then he hopes he'll be able to get us to be back. and now let's go to some of the other global business stories making news. the european union has agreed to ban the sale of new

vehicles with combustion engines from 2035 negotiators from the european parliament and the 27 members of the block clinched the deal. the banners expected to be part of the use climate change package called fit for $55.00. and volkswagen says it will invest $763000000.00 in mexico by 2025 to modernize its plant in the state of pipeline. the funds will go to building a new paint unit and add production of a new petra powered vehicle. the u. s. economy rebounded in the 3rd quarter growing at a 2.6 percent annual rate after contracting in the previous quarter. strong exports in consumer spending as well as a healthy job market help bolster growth and mid concerns with possible recession. governance spending also lifted the economy, but housing investment tumbled 26 percent from either. earlier, the federal reserves aggressive interest rate hikes are triggering much higher

mortgage rates. and joining us now from wall street is at sabrina ke kessler, the new york stock exchange sabrina, despite the positive growth numbers. why do economists still fear a recession? so the main problem is that the growth comes largely from an error and narrowing trade deficit. and of course, the increase in experts are it's exports. it's more like a one off and not really a turn around because both of these numbers don't really reflect like the, the underlying health of the economy. what we do see, see though, is that we have so persisting inflation. we do see a decelerating a consumer demand, weaker demand, and um, so raising the rising interest rate so that all really are headwinds, which is why it, that economists still fear that a recession is quite likely in the next upcoming month. and i was on an apple

announcing results on thursday. what can we make of the 2 companies quarters, you know, amazon having a particularly rough time by the looks of it. and and so this week has really taken a toll on check investors in general, and also amazon and apple. they really cannot turn those trend around both. i'm stocks are falling off for mixed earnings here, especially amazon, the signaling a week, a guidance. it's the holiday quarter. so christmas with revenues coming in, or revenue expectations coming in and $15000000000.00 of below analysts estimates. and also it's cloud growth. it's the weakest. it has ever been in the last quarter . so these both reasons are really scaring investors off with apple. it's a bit different and we see a, a beat at the top and bottom line, but i, i phone sales and also the service segment came and below estimates. so both are really cutting back here, cutting expenditures. and yeah, as you can see,

your stocks are falling. okay. yeah, drugging down tech this week, but thank you very much for that. sabrina. in new york. and that's a, you're up to date with a d w business. if you want more, as always, you can check us out at the top dot com slash business. all on the d, w news, youtube channel, where you can find our business specials from me and the business team here in berlin. thank you very much for watching. mm hm. and the 2 teens targeted attacks on energy supply. how are people coping in here in eastern ukraine inhabitants are preparing for winter despite broken infrastructure. there's a sense of courage in the, in is their hope in the midst of destruction. why focus on

europe next? on d, w. o is the end of the pandemic in site. we show what it could look like will return to normal. and we visit those who are finding it difficult with successes on in our weekly coping 19 special. in 60 minutes on d w. oh, hello guys. this is the 77 percent. the platform for africa. you beat issues and share ideas. you

know, or this channel. we are not afraid to happen delicate topic because population is growing fast. i don't people clearly have the solutions, the future, a 77 percent every weekend on d w. ah ah, hello and welcome to focus on europe. it is nice to have you with us today. it will be the hardest winter in our history. these words uttered by ukrainian president zalinski were meant to prepare his fellow ukrainians for what's coming in the next few months i had but already.