ah, turkey specify if anyone has announced approving finland's bid to join nato. the move comes off to talk between that on and it's british counterpart, and that's all for the show coming up next you got the business authority. fina don't forget, that's always when you, when you get home and on a course yet janice, how did you need a desk one? thank you for watching. a

imagine how many portion of love are now in the world? climate change off the story? this is my plan, the way from just one week. how much was can really get we still have time to go. i'm going all with a get ready for growth. that's according to the always the d. despite the banking term, all the group raises. that's 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 for stocks

tumbling again even after rival bags lend a helping hand. i'm not easy now. welcome. 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 that we city also urges central bank to continue raising interest rate. i'm joined now by either bank 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

a high interest rate such as necessary? not did your bill find a place and bring one face based on the targets that we think that interest rates need to stay at a higher level. and in some kind of even rice, though they're one of course high interest rates, happy questions on financial markets as just recently witness in the us when since sentiment, other tools to deal with financial aid ability 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 yes, a turn to be the center of growth for asia coming. i mean, in general, asian economies are se shielded more then than other countries from, from the cur row slow down a party because they were seeing

a low inflation rates and then other kind of and obviously also less affected by the one you cream. and yes, pro is quite strong object even though it's also moderating and tied to financial conditions. but given that, of course, also the chinese economy is slow and i think knowing in the past year, no growth is actually higher than china. 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 a 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, out the division is still the poor's performing to 70 economy and our protection which is related to a strong cost of living,

squeeze that the company is facing region prices of energy have increased more in, in, in comparable countries while we're just not keeping up with prices, but there is, there is not what we're issue a basically because recent data, the 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? this we can, yes, they did the big your pin countries, france, italy, and germany. we see that this year, as we go in germany than in the other 2 countries, it's mostly because germany has been taken most strongly, not by the repercussions of the war, is more dependent on russian gas. it is also more interlinked global supply chain. so also, you know, the bottlenecks supply chains closing off the chinese economy. last year they said

logic gemini then on. yeah, the 2 countries but going forward a. c gemini can, will also benefit more from the reopening of supply chain reopening in china, and that's also a very strong export on a backlog in the gym economy, which was activity going forward. so germany lagging behind there a bit is i've been 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 republic 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. mr. 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 our 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 contagious 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 recognize that 1st republic does need a re capitalization, 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 that japan is likely to raise its interest rates and that could generate some of the pressures on the long term. yen denominated bond leo that many japanese banks hold on in the 2nd risk is that a number of japanese banks, project curly jap, japan's post bank have large portfolios of u. s. bonds that their funding was short term fund money and those particular trades are now money was brad sets are thank you so much now it's clearly been a big week for the west market in scott and 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 movement in all of those markets at the moment of the sell, effectually in bitcoin, started almost on the day a year ago when they're a federal reserve started to the interest rates cycle to the upside. that did put a lot of pressure on a bit cons and now there was 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 a weekly increase of i think at the end was 35 percent, is definitely not her usually than on the other side. oil down for the week by 14 percent. well, the idea is that also of which the trauma oil in the financial system,

in the banking system, that we might 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 one a riot. silly, as you mentioned, it's been an especially tumultuous week for the banking factor. what's next week's outlook? well, murray, it's very simple february 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 increase interest rate. so at all that could somehow a point that the federal reserve is super concerned. 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 kata. 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. exmouth 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 the technology and that's our show for more tech r d w dot com slash business, and the dw news youtube channel for me and the team here in berlin. thank you for watching to the point. strong opinions, clear positions. international perspective. migration to europe is weiss against surgeon you authority. so reporting the highest number of irregular border crossing fits 2016 destination europe can migration being controlled. find out on

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