g, b, t, q groups, all joining in the fun, which is what i did today by putting on my green shirt and tie i wonder if maria, are you wearing green today? rather, you know what happens. she's up makes the business. i'll see you monday. have a happy st. patrick's day and a good we did there with come have a tv highlights you every week in your in box subscribe. now will you become a criminal m. franklin may all ready,

know who's with hackers and paralyzed me? turn your societies, computers that out some of you and governments that go crazy for your data. we explain how these technologies work, how they can go in for, and that's how they can also go terribly. watch it now on youtube. ah, get ready for growth, that's according to the always cd. despite the banking term, all the group raises the world economic growth outlook. but it warns that the recovery is fragile, where he will hear from one of the authors of the report and 1st republic stocks

tumbling again even after rival banks lend a helping hand. i'm out easy now while ago the only cd has improved its growth forecast for major economies, but warns that inflation is still a risk organization for economic cooperation and development now expects the global economy to grow by 2.6 percent this year. it's previous forecast was 2.2 percent, despite relatively positive signs. it warned that this is a fragile recovery pointing to uncertainty because of the war in ukraine and price pressures. but we city also urge a central bank to continue raising interest rate. i'm joined now by either by cosco. she's one of the authors of the study, the always cd urging central banks to keep raising interest rates despite financial turmoil. why does it seem to be convinced by the stability of the banking system

friendly? we think that high interest rates are just a place and bring one place based on to the targets. we think that interest rates need to stay at a higher level. and in some countries, even though they're one of course high interest rates have questions on financial markets. as we've just recently witnessed in the us when since then to make those other 2 men to deal with financial instability concerns. and we think that they should use these tools, but use high interest rates to fight inflation. one of the countries that stands out in the outlook is india. your report predicts that it will grow the most out of any country in 2024, 7.7 percent overtaking china is in the us a turn to be the center of growth for asia coming many in general, asian economies are se shielded more than other countries from the current growth

slow down and partly because they would seeing a low inflation rates and other countries and obviously also less affected by the one you creed. and yes, growth is quite strong in object, though. it's also moderating and it's tied to financial conditions. but given that, of course, also the chinese economy is slowing. there has been snowing in the past a year. now in gas, growth is actually higher than your outlook for the u. k. has slightly improved as only recording negative growth this year in your report. could you tell us a little bit about why that is, and also maybe the differences in different european countries, outlooks. i mean, and data in the united kingdom have surprised a bit on the upside to recently. not as was the case also for a couple of other countries. still the bike, you know, opposition is still the course performing g 70 economy and our projection now,

which is related to a strong cost of living, squeeze that the company is facing. region prices of energy have increased more in, in u. k, than in comparable countries while we're just not keeping up with prices. but there, yes, there is not what we're issue was basically because the reason data price on an upside . what about if we look at europe in a comparative sense, how are different european economies expected to fair differently in the coming years? i mean this, we can guess they did the free, big european countries, france, italy, and germany. we see that this year growth is weaker in germany, been in the other 2 countries, mostly because gemini has been taken most strongly, not by the repercussions of the war. it is obviously more dependent on russian gas . it is also more interlinked gilbert supply chain. so also, you know,

the bottlenecks supply chain closing off the chinese economy last year. these had lodging, gemini, then on the other 2 countries. but today, going forward a gemini will also benefit more from the re opening of supply chain, some very opening in china. and there's also a very strong export on a going forward. so germany lagging behind there a bit is about cosca. thank you so much for speaking to us. welcome share. as a new us bank 1st republic have tumbled yet again after financial lifeline, failed to calm investors. 11 of the biggest us banks including j. p. morgan chase, and goldman sachs, teamed up to rescue the san francisco based rival providing a $30000000000.00 cash deposit. first for public was hit by depositor withdrawals. after silicon valley bank collapsed shares,

headphone 80 percent in the past week. i'm joined now by brad set, sir from the council on foreign relations. the sir sets are some of the biggest us banks, teaming up to save a rival. what's in it for these banks? well, i think all banks now have a stake in the stability of the u. s. financial system. i think all of the major banks that participated and the deposit that was placed with 1st republic are looking to allow a little bit more time for 1st republic to either raise funds on his own to recapitalize itself, which seems a bit unlikely or more likely. ridge to take over a 1st republic by one of the other major banks in the united states for public. so

mid sized bank, so it would be it wouldn't be unreasonable to see it purchased by another stronger regional bank or by one of the us bankers you just mentioned to take over by other banks. and we've seen that despite the financial lifeline, shares of 1st republic tumbled again today. and i was wondering if this evidence that contagion, this setting and i don't actually think so. i think 1st republic was known to be a weak bank, even before silicon valley bank failed. i think it's widely recognized that 1st republic does need recapitalization does need to be merged with a stronger partner. so i think this is just the market trying to guest the price at which that table who will take place. i'd like to take a step back and talk about one of the reason behind the demise of silicon valley

bank, which are these long term bond portfolios. now we've been speaking a lot about long term bond issues in relation to european and american bangs. but you've highlighted that there are looming risks in asia. could you walk us through what you see there? well, i think there are 2 sets of risk in asia and in japan, in particular, one is the japan is likely to raise its interest rates and that could generate some of the pressures on the long term. yen denominated bond portfolio that many japanese banks hold. the 2nd risk is that a number of japanese banks project curly job trans post bank, have large portfolios or u. s. bonds with their funding was short term fund money. and those particular trades are now money losing. brad said, sir, thank you so much. now it's clearly been a big week for the us market. gimme

a call to joins me now from wall street for the latest news. yes, bitcoin shooting up 30 percent and the price of oil diving. what's going on there? definitely, maria's a lot of some movement in all of those markets at the moment of the self, actually in bitcoin started almost on the day a year ago when they're a federal reserve started to their interest rates are cycle a to the an upside that did put a lot of pressure on a bit cons and now there is sort of the idea of speculation that the federal reserve soon might be done with increasing interest rates. and this is one of the reasons why a bit coins are coming back even if and weekly increase of i think at the end of was 35 percent is definitely not her usually done on the other side, oil down for the week by 14 percent. well, the idea is that also of mr. turmoil in the financial system in the banking m. a

system that we made to see some pressure on economic growth here in the united states, the biggest economy on the planet, but also a globally meaning probably less demand for oil. and therefore we saw this huge pressure on the price of a riot. so as he mentioned, it's been an especially tumultuous week for the banking factor. what's next week outline well, murray, it's very simple federal reserve for they will have their today meeting a tuesday and wednesday. so wednesday we will be a bit smarter and if the interest rates will be increased by $25.00 for basis points, that's at least what are people on wall street. and a lot of economists expect, at this point, it will be especially interesting because ahead of this fed meeting, there has been a quiet period. so all those federal reserve bankers were not really allowed to talk to the media for instance. so they could not really comment em on what's going

on in the banking system here in the united states. so that makes service a meeting next week, and especially the press conference on wednesday, especially if the federal reserve would not is interest rate some at all. that could somehow a point that the federal reserve is super concern. so that's what they don't want and an increase of more than $25.00 point. so probably would also not be too smart or was all of the after the trouble that we're having in the financial system at the moment. so important decisions ahead next week. thank you so much. and scott, now, swimmers have been faced with a tricky choice during the energy crisis, toughen up and embraced the cold or pay more for your work out in a heated pool, but not for the swimmers, an ex, with leisure center in the u. k, they're doing lots in the heated pool and won't see any price hikes. that's because

excess heat from a nearby data center is raising the water temperature. or most data center centers spend money to cool their service. these ones are immersed in oil. the oil gets warm and it's piped over to heat the water. the energy transfer has already expired . others 20 pools are currently adopting with technology and that's our show for more check out d, w dot com slash business, and the dw news news channel for me and the team here in berlin. thank you for watching. what's making the headlines and what's behind them. d, w, news, africa, the show that was the issues shaping the continent. life is slowly getting back to normally on the streets to give you enough reports on the insights. our

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