visit to the international criminal court in the height. i sent you up to date on a whole. well, there's at the top of the hour, stevens busily has your business update a just a moment. the details of the latest increase in your fee and interest rates. good, the guardians of truth. my name is john dean and i have paid almost every price of being enjoying this in a country like to tease taking on the powers that be the risk. everything.

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a look at the trouble surrounding go 1st, airlines and it's been jobs, a floating power outlet, and it could become the 1st of a consolation that helps europe di carbonized. it's energy sector. the walk into the show. i've seen beardsley in berlin. european central bank raised its key interest rate by 25 basis points on thursday. that's it's 7th consecutive hike as it battles, persistent inflation across the single currency zone. you see the president christine le guard saying thursday, the bank has put more ground to cover against rising prices. it is not policy rate hikes despite essentially slowing them on thursday. the annual inflation was that 7 percent in march across the euro zone. the z b has been hiking rates since july last year. the decision to raise rates more slowly falls of similar move by the federal reserve last week. and we apologize

for some of those issues with the pictures there are. joining me now is carson, just the chief economist for i n g. jeremy helps break this down with the c b course and welcome back to show, 1st of all, any surprises here with this rate hike? no, not really. i think it was clear that the should be want to slow down the other page and the size of rate hikes and what like that. because we have seen that the most aggressive monetary policy probably being in history is clearly leaving marked on the economy. all righty, so that was the time i'll just go things down for minus again, how are we seeing the effects of all these rate hikes to this point? now what we're seeing is, i know, as we saw, i see this week of the so called bank lending. survey, so we see that there is very little credit growth in the european economy. we see that banks record clear, drop and demand for new loans, both from household and from corporate, and normally at the end of the week, week or demands for loans. today is weaker investment and weaker spending tomorrow

. so this is how we're seeing this. the impact of interest rate hikes so far we will also see is no, it is more complicated to to get a mortgage. it's more complicated to get into the real estate market. and this is what is gradually slowing down the economy. at the same time, if i go to the grocery store and look at the costs of food right now, i may say that these rate hikes aren't having the effect that i would expect. what is inflation going to start going down? why the head started to come down, but me on the bank off no longer increasing energy prices or use of lower energy prices, takes a while. and that's, you know, everyone getting in and then you can nomics textbook knows that it's going to take between 6 and 12 months before you really see the full impact of interest rates on the read economy and where we don't need to start to come there. now and um, so this means we will still have to wait probably until the end of the year to really see the full impact unfolding of the rate hives that we already have gotten

until today. you already mentioned the other effects of raising these interest rates, and that is the tightening credit conditions on the markets. is there any danger for european economies, especially those that already have trouble borrowing and continuing to raise these rates. le guard also implying that these rate hikes will not stop. of course, there is a risk and i think for a long, long while the we have been arguing there are no and the girl, the fact of the great heights. of course, not everyone borrowing money knows that there is an impact of higher interest rates on boring and this doesn't hold for you and me. but this also holds for, for governments broke down. so governments have much more difficulties to know gas money in the financial markets. they have to pay a higher price and paying just higher price. it also means that at the end of the bill, this ride there will be less investment. there will be less public expenditures, so this is the more natural bounce to how far they used to be. can go buy hiking

interest rates. right, that's cost and jesse with i, n g germany. thank you very much. let's go down to some of the other global business stories making headlines. the world bank has a new president. bunker is an indian born american executive. and he's been held by the media and his birth country as the face of change for the global development lender on go was nominated by us present to abide last month. asian investors and credit suisse are joining in a series of landmark lawsuit against the swift government saying it mishandled the takeover through us. in march, the investors collectively lost nearly $17000000.00 when their special class of bonds was written down to 0. as part of the deal, a new number of show, a surprisingly sharp drop in german exports in march compared to the month before germany exporting 5 percent fewer goods. which shows how recovery in your biggest

economy means fragile. at the moment, drop came after 2 straight months of growth over the age and now india is 3rd largest airline. go 1st file for bankruptcy on tuesday and ground at all flights, leaving almost 100000 passenger strand. the carrier now owes its creditors roughly $800000000.00, blames its troubles primarily on problems with pratt and whitney engines use and it's aircraft with go 1st thing it was forced to ground to many flights of us engine baker has the air line is exaggerating. it's roll. go 1st, also struggle during the pen demik with strict rules, limited aircraft over to charge the card to k in delhi. charlie go 1st, wasn't exactly a small player with market share around 10 percent before the pen to make. what happened with steven. uh, go 1st and um, insolvency filing satisfied with the tribunal,

it has uh put the entire blame on for the engine supplied by pratt and whitney baton with me being the american company that supplies engines to companies that will know that. and what both of us has said that it's engine started developing snags way back in 2020, but the since button, but with me couldn't do anything about those for the engines initially. so it was supposed to ground to say across and by december 2022 with this last december. the goal for said that it was forced to ground by the ground or at least 50 percent of its fleet. now that was a big loss. it resulted to several other problems guess getting into into sort of a domino effect which brought a lot of financial strain on the airlines to a this was in many respects, a surprising turn of events. what does it mean for go 1st rivals and what is a very competitive market when it comes to aviation in india?

the 1st steven, it's a competitive market and it's, it's essentially it looks like good news for both of us rivals to us, both as valuables which are listed on the union stock exchange spice to an indigo. they say prices went up yesterday. so it's already being seen as an indication that they're likely to benefit that a lot of us lots that belong to go fast to go 1st and those last we'd be a full grabs. these i was would be very happy to gain those laws as well. and especially indigo, looks like in, in a very happy position because that are also reports that less or as of goal for us to add that had the provided across on leave might also be contemplating providing some of those a croft to indigo now. so good news altogether for all of us rivals. if this is such an attractive market, is there not perhaps value in an investor coming in and rescuing those airlines? uh well, that could be possible, steven. but right now,

what uh the owners of golfers have said is that they're still very much committed to the airlines and they're not looking at an exit. the owners being mostly vanya group, it's an old investor house in india. i'd also owns the companies in other areas like virginia and like one of the dying, the a, it's c o. in fact, address the press yesterday and said that the company is very much committed to it and said that even the central government does not want the airline to fame. so this thing that we've moved insolvency proceedings to revive the airline and not to be able to sell it. however, in the same breath, the senior also said that some companies, some uh, individuals have already expressed interest in buying the airline. so as of now it's, it's, it's not entirely clear as to what it's future is going to be a. the creditors are also what it does to the exposure is about $800000000.00. so a lot of things of need to be resolved before the future of logo for us becomes

clear. steven. alright, discharge the card to k in delhi. thank you. well, offshore wind turbines are central to your apps efforts to de carbonized, the energy sector. but the technical problems involved, they're often complex, including how to store electricity efficiently and how to bundle that energy from different wind farms. a one potential solution is now flawed in the baltic sea. take a look. so this is the, the swimming electrical socket leaving the port of antwerp in the early morning hours on route to germany. that's 5 stories high clocking in at 4 and a half 1000 tons. all of the ports shipping have to be halted to secure the safe transport of the wind power platform. it was built by belgians elia group. the government displaced this on industry that supplies 40 percent of all the swimming sockets. to paula europe. the transformer station is the heart of

the baltic sea off shore energy plan. this is how it works. electricity produced by a cluster of wind turbines is bundled 30 kilometers off the coast, and then transferred on land to a single cable. from here, electricity can be fed into the grid. half a 1000000 households are expected to be powered by green energy that way. bundling the energy from several turbines makes the system more efficient and prevents power loss. that's important as the we said it's green energy target to 40 percent by the end of the decade. you will to have to connect much more wind farms up the for sure going forward. and this one is quite important because if we bring this together at one platform, then bring it up to an higher voltage level. it's the most efficient way to bring wouldn't. and that you to show a few last adjustments then, the faulty eagle is ready to be towed to is offshore location. with will now help with germany's energy transition plans. affordable green energy is possible with

belts and technology, germany, shipyards on equipped to build such platforms. there are a couple of countries that were a fairly early into offshore wind. so one of the expertise that we have in belgium and the ability to build these kinds of large platforms to prepare them to sale off and to bring to that, to, to, to see where they are then will be used for 20 to 25. use the energy business is changing fast. politicians are still working on the new rule book, but it's already clear that wind energy will bring lots of opportunity, profit, and jobs. swimming sockets like the ones built in antwerp, are in high demand. and here's where most of our top story steer pm central bank has raised interest rates by another 25 basis points and it's ongoing battle against inflation. that's a slow down from recent rate hikes. move comes after the federal reserve and united states also slowed its own rate hikes. that's it for our show. find

a more online dot com slash business. i think there's a blend, thanks. want the one continent, 700000000 people with their own personal stories. we work every day, likes what europeans fear and what they hope for lucas dw us and the would that be all for do that?

it's 10 times more the holocaust survivors in postwar, germany for them life after 1945 through today has meant starting the new and processing the past. it's been a common notion in the postwar period until in part today, nazis are always those other people under the ongoing struggle for remembrance and against denials of the land of the perpetrators starts on may 6th on d, w. the . this is focus on europe. i'm lar buffalo, nice to have you with us. turkey is preparing to hold elections for the parliament and the presidency.