the european central bank revised _ balance. the european central bank revised some _ balance. pean central bank revised some of- balance. the european central bank revised some of its - bank revised some of its figures last friday and it said its economy is shrinking ever so slightly. what can we expect them to do with their interest rates? i them to do with their interest rates? , , ., ., ., ~' them to do with their interest rates? , , ., . rates? i believe if you look at the euros. — rates? i believe if you look at the euros, even _ rates? i believe if you look at the euros, even though - rates? i believe if you look at the euros, even though we i rates? i believe if you look at i the euros, even though we start to see a slack in economic data however, cbi still elevated. if you look at the current guidance shares seems to there is still a pepp and the interest rate hike for the potentially another gash. china has a bunch — potentially another gash. china has a bunch of _ potentially another gash. china has a bunch of data _ potentially another gash. china has a bunch of data

the european central bank revised _ inaudible. the european central bank revised some _ inaudible. me of— inaudible. the european central bank revised some of its - bank revised some of its figures and said that the economy is shrinking ever so slightly. what can we expect them to do? i slightly. what can we expect them to do?— them to do? i believe if you look at it. — them to do? i believe if you look at it, although - them to do? i believe if you look at it, although it - them to do? i believe if you look at it, although it is - look at it, although it is becoming tighter, the cpi is elevated and if you look at current guidance it seems to us there is still an interest rate hike trajectory.— hike trajectory. another potential— hike trajectory. another potential hike. - hike trajectory. another potential hike. china i hike trajectory. another| potential hike. china has hike trajectory. another i potential hike. china has a bunch of data coming up, what will you be focused on? this cominu will you be focused on? this coming thursday _ will you be focused on? this coming thursday we

tie: european central bank and other cetaceans european central bank and other cetacea ns say that europeanans say that spain's economy is growing fast and doing well, since this man, but i think you will have less and less buying power. ilil" less buying power. our government _ less buying power. our government has - less buying power. our government has a - less buying power. our government has a lot l less buying power. 0ur| government has a lot of criticism on them, but i do not think— criticism on them, but i do not think that _ criticism on them, but i do not think that they did that bad. he had _ think that they did that bad. he had a _ think that they did that bad. he had a difficult times with the pencil back, with unemployment, they struggled but they did what they could —— pandemic _ but they did what they could -- pandemic— but they did what they could -- andemic. _, , ., , ., pandemic. the conservatives are the favourites _ pandemic. the conservatives are the favourites to _ pandemic. the conservatives are the favourites to win _ pandemic. the conservatives are the favourites t

so that view there from the european central bank. let's - the european central bank. ralph, who is the global head of rate research at the bank of america, from paris. what did you make of what she had to say that? because we are starting to get different views on how sticky inflation is and how central banks will respond to it.— will respond to it. yes, we are at an interesting _ will respond to it. yes, we are at an interesting turning _ will respond to it. yes, we are at an interesting turning point - will respond to it. yes, we are at an interesting turning point and l will respond to it. yes, we are at i an interesting turning point and you already highlighted three contrasting decisions this week. no real surprise from ecb, i would say. they told us a few months back that they were likely to raise rates in three consecutive months, this is the second run of those, they have pretty much committed to raising inflation rates again injuly, so as we have seen, there is no real surprise there, but we are obviously nearing the end of thatjourney in europe as well and w

translation: the european central bank and i the european central bank and other_ the european centralother institutions say that spain's economy is growing fast and doing — spain's economy is growing fast and doing well, says this man, but i _ and doing well, says this man, but i think_ and doing well, says this man, but i think people have less unless— but i think people have less unless buying power. our government _ unless buying power. our government has - unless buying power. our government has a - unless buying power. our government has a lot - unless buying power. our government has a lot of criticism _ government has a lot of criticism on _ government has a lot of criticism on them - government has a lot of criticism on them but i. government has a lot of - criticism on them but i don't think— criticism on them but i don't think they— criticism on them but i don't think they did _ criticism on them but i don't think they did that _ criticism on them but i don't think they did that bad. - criticism on them but i don't think they did that bad. i- think they did that bad. i mean.

translation: ., , ., translation: the european central bank _ translation: the european central bank nd other i central bank and other institutions say that spain's economy is growing fast and doing — economy is growing fast and doing well. but i think people have — doing well. but i think people have less and less buying powen _ power. our government power. — 0ur government has a lot of criticism on them. but i don't think they did that bad. i mean, we had a difficult time with the pandemic, with unemployment. but well, they struggled, but they did what they could. struggled, but they did what they could-— struggled, but they did what the could. ., , ., , they could. the conservatives are favourites _ they could. the conservatives are favourites to _ they could. the conservatives are favourites to win - they could. the conservatives are favourites to win the i are favourites to win the election. but securing a majority will be difficult. and they're likely to need the support of the euro sceptical far right vox party. while spain's economy is forecast to keep performing well this yea

the payments systems and any more, it would be safe because the value is guaranteed by the european central bank directly. and, and the payments from one small wallet to another, small, small bullet possible without any online connection. so you don't need all the technical stuff any more than say about a cortex site. just digital euro can be more easily tracked and can be used for surveillance. and what do advocates of this digital euro say about that? where they say it's the opposite is true because the digital, your books like cache, you don't have so much data involved as if you paid was mazda account, a visa, because there's no name involved. there is no account involved, so you're not leaving much traces and that's why the amount of a did you to do to, to us it can have in the us model, it is limited actually 2 or 3000 zeros to avoid and of yeah. so there's something, some abuse, and also money laundering. the w corresponding battery got in brussels. bam, thank you. and also some of the other global business stories making use of a new owner. you'll be asked to look at more than half of cu

the detailing private, assert, georgia, maloney has criticized the european central bank for repeatedly raising interest rates, saying and hurts economies more than inflation does. rate increases, make it more costly for early to pay off at stats rooms. here's a planned knife height next month. could trigger a recession, amazon is planning to raise the entry level, wait for logistics, staff, and jeremy to 14 euro is an hour and more depending on the region. the decision by the us retail jain comes as a country wide collective bargaining and a minimum wage increases the res will effect some $20000.00 german football championed by munich have announced they will not extend their sponsorship deal with tar air, which you confirmation between the doha base their line and the german record champions has existed since 12th 2018 and reportedly broad buyer and around to 25000000 jurors per season. the club has face criticism over the deal with the fan groups and supporters protesting it on human rights crowns the current sponsorship expires the end of this month. all right, let's talk some more

the question is will this have any implications today when it comes to the european central bank? e monetary policy decision itself, it will not spared the head of the european central bank has been clear they are data dependent, not said dependent. that went to another hike. -- that points to another hike. there is a common thread of the endgame. what happens when you roach the final stage? i'm not saying today will be the final hike. july for the ecb is very much in the cards. the idea of how do you fine-tune and calibrate the end? we get to that stage, the trade-offs become complicated, maintain that consensus in the governing council can get heated. this press comes today, i think this is going to be an interesting one. francine: i wonder how many questions marine -- madame lagarde will have to field on the banks and what to do with the balance sheet. we had economic projections so what are we expecting? what are you looking out for? maria: yes, and they are always important, but this time around, you focus on two numbers, inflation and if you look up expectations as of now, th

i head of the big week for central banks, equities are holding strong. europeans overall gaining 0.4%. we are also seeing similar moves for the u.s. futures. again, a lot of the week is packed with interest rate decisions from major central banks. the spur of dealmaking is has also given a boost in sentiment in equity markets. let's look at which sectors are on the move. we are looking in depth at glencore up from news out of glencore, as well as the swiss company york fisher providing some equipment, so that means there is turning point or a positive news coming from dealmaking. energy and basic resources are the ones that are moving -- losing the most. they are down around 0.9%. it will be a pivotal 36 hours for markets later this week as monetary policy is determined for over 60% of the world's gdp. you heard me right. 60% of the world gdp in the central-bank decisions the next 36 hours. for more, we are joined by bloomberg markets reporter valerie tytel in london and bloomberg european correspondent maria tadeo. what are we expecting? there seems to be a turn

maria: welcome back, european central bank raising interest rates this morning by a quarter point 25el 3405% cheryl tells me that is 22-year high, of 3 1/2% after federal reserve paused its rate hike yesterday at june policy meeting that two more potential hikes coming later this year president macromavens stephanie pomboy here great to see you reaction to fed and ecb. central banks really trying to redeem themselves after letting inflation run hot. and clinging to transitory narrative now really desperate to prove their chops on hawkish runs i agree with joe both of them have overdone it already, and obviously, suggesting that there may be further rate hikes to come will be icing on cake between a recognize and hard place in addition hotter than expected on the other side have massively levered economies extremely vulnerable to rate increases we're seeing that play out, in every sector of the u.s. economy i think the situation will just continue to devolve as rate hikes continue to sooep through into hire expense fo consumers are were corporations in commercial real estate market as

the federal put on that happened the european central bank need to follow soon as well.anus: she shortened that question down. maybe you can help me, i am a bit down. the dollar has run up on the back of the debt ceiling, i got that bit. if you reckon rates will puff out, skip, pivot, whatever by the end of the year. and does that tie up with the risk off narrative, is that why do you belong dollar? he said don't fall into the short dollar trap. but it got trashed over the last 6-7 months. we had a reprieve in may because we didn't know we would have a debt ceiling debacle. i need to understand why shouldn't fall into the short dollar trap. if rates are cut and the fed is out of puff, why would i belong the dollar? viraj: in the sense of where we are in the cycle, that matters a lot here. when it comes to the dollar, there is one scenario that largely wants you to be long dollar -- short dollar from a for medic perspective. the rest of the world is doing well and you have an idiosyncratic issue in the u.s. and you have the divergence in differential playing out which i d

you see that germany is already in a technical recession since july last year, the european central bank raised interest rates 8 times in a row, yes , christian sevin added four percent. this makes loans more expensive. now there are problems with already issued loans. this applies to households with their er, as it were, congestion, increased significantly in mortgage payments. tomorrow loans. payments have increased exponentially. this applies to firms in the service sector in trade in industry, which in turn were credited previously under very low rates european central bank, had a zero rate, and now this rate is more than three percent. but it turns out that hmm. and it doesn’t make sense to borrow while you observe such problems, yes, that is, no, but american investments, yes , which are in question. well, why should he come to the market of the european union? europe, according to the europeans themselves, lags behind sector by sector in the rating of the fortuna global agency in terms of revenue, european automakers have already diluted chinese families out of twenty-three the la

and the european central bank had been created to ensure it's dependency the at the time global growth was strong, the level of public debts was starting to decline. europe was breathing easy, the confident financial markets lent generously to governments. and the weakest economies, spain, greece, it's in the portugal suddenly had access to loans of very low interest rates close to those available to germany. that low cost financial winful wasn't economic based on was well for now the, the . 2 the meanwhile, in the united states, america's housing bubble was expanding. and in 2007, the sub prime crisis struck thousands of homeowners lost the homes that had taken out loans with interest rates that rose shante. and they found themselves unable to make their mortgage payments. many banks were in danger. on september 15th, 2008 lehman brothers, one of the largest us investment banks collapse electricity bundles of. so please good for the minutes because of the stuff in my speaking with team is engine depends the so on call present tonight so. so this case if i see a bonus should that among

the european central bank has signaled a are not done yet.ike in june is very well priced and by the market and very well expected but it probably entered the final stage. at that point, you will see tensions already happen. we have seen it repeatedly in the meetings previously pared the idea that decisions were not fully unanimous and there is a debate on the war between what happens after the summer. a lot of this will feature into it. luis of the numbers yesterday, especially the german cpi print, the market reverse the idea that to hikes -- that two hikes are definitely on the card and the basis points drop will that. yes to june. happens after will be debate. francine: maria tadeo, our europe correspondent for bloomberg. coming, jp morgan meets wall street ai race. who else is in the running? we will discuss that next and this is bloomberg. ♪ tom: welcome back to the open. you are seeing optimism across equity markets, snapping three days of losses in europe, gaining 8%. becoming more convincing now that lately better-than-expected china

raising rates to attract the european central bank pushes up the cost of borrowing again, as it continuesost d biggest companies put an end to online fees for online bookings, amid pressure from the white house. hello, this is world business report, i am hello, this is world business report, iam ben hello, this is world business report, i am ben thompson and we are going to start this programme in the eurozone, where the european central bank has once again raised the cost

the choice of solving debt distress in some countries and hiking rates to find inflation. european central bank presidents christine la garza is the cv is unlikely, and at an end of its recent interest rates increases anytime soon. the arizona central bank had also reiterated plans to raise rates next month. that would be the 9th rate hike in a row on inflation 2 years on this node, underlying pressure as on prices do persist. after months of relief, industry and homeowners have to deal with price hikes for natural gas and gas. once again, that after several production facilities in norway have been taken off line for repairs. meanwhile, gas demand has been on the rise. after high summer temperatures have increased the need for energy, intense, cooling, and air condition, some industry experts fear that higher demand and reduced supply could be a long term issue for markets meeting. the higher prices for some time to come. for more on what more we can do. my colleague murray seen a spoke to you more ways, trade minister, young christian investors, important for european stability us and sorry w

some believe european central bank's, you could argue that she endorsed the message. cure could be worse than the actual disease. we will try to sneak a question or two, but i think it is fair to say at one point it's a political issue for several policy makers. if you get a downturn and the european central bank is not able to orchestrate the soft landing, then ultimately they have to tell the voters why. that is a political story. >> all of this has linkages to the war in ukraine. what are you expecting to hear in terms of that conflict? >> we see another summit in which the war in ukraine, for me it is an eclipse, we know the european leaders will debate about the situation. i should stress however that the meeting today is not in response to the events we saw play out in russia, it was already on the agenda. but again there will be a focus point and we know that there will be new guests to this summit. the whispers now in brussels, he will stay as the head of nato for another year. the war broke out and now he stays at the job. tom: excellent job there in brussels

and finally, european central banks. the regulator raised the key rate for the eighth time.raised the figure by 25 basis points. such a change was previously predicted by analysts and market participants the decision to raise the rate. explained, pursued by the monetary policy in the euro area, inflation is declining, but still remains too high notes the regulator. such there were economic news productive weeks to you and see you soon. the morning broadcast continues with the zona x program and i'm violetta sokolovich. hello. the working trip did not go according to plan, the drug control operatives with the force support of the fighters. omon detained the pawnbrokers of the guest performers, a large consignment was confiscated. particularly dangerous synthetics mephedrone were reported to the ministry of internal affairs according to the information of the department by the defendants in the criminal case for the sale of drugs. a 24-year-old young man stood up. and a 36 year old woman. the couple was going to leave belarus when on stolichnaya they were handcuffed by officer

while all eyes will be on the federal reserve wednesday, the focus shifts to the european central bankk ofjapan as they make their rate decisions later this week. michelle fleury in washington dc. usjudges granted the federal trade commission request to temporarily block microsoft's purchase of gaming giant activision blizzard. the watchdog filed a request earlier citing concern microsoft could complete the takeover soon. the ftc has argued a move would impact competition but microsoft says it would only benefit to gamers. away from gaming and time is running out for businesses targeted by hackers linked to a russian ransom where a group earlier this month. they were given until wednesday as a deadline to begin negotiations. hackers have threatened to publish the payroll data of those who don't comply. a number of firms including british airways and the bbc have been affected. earlier, i spoke to a cyber security expert from tenable who explained what company should do. it’s who explained what company should tie-— who explained what company should do— should do. it's important for orga

the european central bank has raised his key interest rate by a quarter of a percentage point to 4 percent. it's the bonds, 8th consecutive hike, bringing borrowing rates to their highest level in 15 years. you inflation has dropped slightly over the past months, but remains of part higher than what economists consider healthy. a group of music publishers has filed a lawsuit against twitter over alleged copyright violations. the charges relate to around $1700.00 songs, which they say to us are used to attract users to audio visual posts. if science be in violation of copyright law, the social media company could have to pay more than $250000000.00 in damages. in indonesia, the textile industry employs some 3700000 people. despite the strength of the sector, many local choose to buy imports to 2nd hand clothing rather than the more expensive fleet domestic. he made terms of. now, authorities are violent to crack. that in the practice looks like dirty laundry, but it is not 2nd hand tech styles, satellite hot cakes and indonesia at this market. and by do was just saw there $1100.00 stalls, o

even, you know, many people we looking out this and wondering does this mean that the european central bank might hold off on raising interest rates? what do you think i've seen do europe? yes. center meant to continue to increase interest rates. bartley because according play shown, which is a measure of inflation beach excludes what a tie an agent approved for prizes steel there ought to be high at 5.3 percent. it's a little bit lower than last miles, but still the above the utica central banks 2 percent target. and at the same time domain, you don't get central bank represents rate. you still just sweep seeing the quarter percent so much over then according station and also lower than expected inflation . so i think you will see quite the number of interest rate increases from the cd about target of just over 2 percent for next year. how feasible do you think it is that will get there for inflation? i mean, this year, so $22023.00 police. how are we likely to get to to get higher? now the main question, once that happened in 2024 and the particular video or the kind of default inc, energ

but the spanish figure is unlikely to deter european central bank plans to high interest rates. data shows that inflation is rising in other parts of the result. and that is our show. thanks for watching. have a successful day the tech style production in reserve. that's what they do here in process. the italians apply in noon in recycling, which ultimately ends up being fashion again sustainable focus dw, the, the one of the main kinds, oldest ambitions could be within reach. what is it really is possible to reverse the researchers and scientists all over the world? for in a race against time, they are peers and rivals with one daring goals to help smart nature, the more likes watching it on youtube. dw documentary, the hello and welcome to focus on your up. it is nice to have you with us today is killer fashion, killing the planet. the answer is yes. globally, the clothing industry pumps out.

but the spanish figure is unlikely to deter european central bank plans to high interest rates. data shows that inflation is rising in other parts of the rosa and that is our show. thanks for watching. have a successful day? the lady townsend's mission is to save trees. yes, soon as disrespectful name, she moves out with her team was able to attend the mafia strikes. they've almost put a stop to the timber thieves. but now the environmental is, have an even bigger enemy, global us. 90 minutes on d w. hello guys. this is the 77 percent the platform for the issues page share id the you know, or this channel. we are not afraid to pass and then it gets to talk to the young people clearly have the solution, the future of the 77 percent, every weekend on dw stopping climate change, that's what they're aiming for. the closest terminal zones of the earth will become you literally uninhabited. up the today we're talking about 50000000 refugees in the future. we're talking about billions. this is no longer question of whether we get out of coal, oil and gas, put land on the assume about commit

so what's the european central bank's thinking behind its increase?ir projections for inflation, excluding energy and food, especially for this year and next, owing to past upward surprises and the implications of the robust labour market for the speed of this inflation. they now see it reaching 5.1% in 2023, before it declines to 3% in 2024. christine lagarde. ralf preusser is global head of rates research at bank of america. i asked him for his assessment of the ecb decision. we are at an interesting turning point and you or a gear already highlighted contrasting decisions this week. no real surprise from these 3, i would say. ecb told us 3 months back that they were likely to raise rates by 3 consecutive 3 month steps, this is the second one of those, pretty much committed to raising rates again injuly, in line with inflation data we have seen, and in light of that data, there is no real surprise there. but we are obviously and nearing the end of thatjourney in europe as well and what some market participants were hoping for today is some signal as

the european central bank president christine la garza said, the corporate profits were the biggest driver of higher prices in 2022. at a conference in portugal, the euro zone central bank had warned that unless companies change their behavior, interest rates will need to stay higher for longer. monitors in chicago deemed the cities air quality to be among the worst in the world. on tuesday, drifting smoke from ongoing wildfire is across canada is creating curtains of hayes across central and eastern united states. people with underlying health conditions have been advised to limit their time outdoors and hundreds of thousands of worship percept hilted, 3 concrete walls representing sites. and in the final major ritual of the hodge pilgrimage, nearly 2000000 most those at faults to saudi arabia and the islamic holy sites for the biggest hodge to take place since depend now to italy and the ancient roman city of palm paper, the discovery of a well preserved press co has raised speculation about the origins of one of the modern areas favorite tubes. could this fresco depict a precursor of th

on thursday policymakers from the european central bank are expected to meet and they have a delicate of taming inflation while trying to avoid the risk of falling into a recession. and rounding off the week, bank ofjapan will in session to debate on its monetary policy moves. earleir i spoke to calvin wong of avanda and he gave me his take on how he thinks the federal will move this week. pretty much unchanged so this will be the first pause and its current interest rate outside look so pretty much unchanged at 5%-5.25% so pretty much unchanged at 5%—5.25% so the reason being over here is that i do not believe poor poor outwage. it will hike interest rate in line with us treasury which are in the process of issuing a massive amount of issuing a massive amount of t bills to fill up its cash cradits. china has a bunch of data coming out, what will you be focused on? this coming thursday we will look at a slew of chinese data — industrial production, retail sales as well as housing, price index data. if you look at the last two weeks, and if this data is weaker than expected china polic