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Business Matters: US makes biggest interest rate rise in almost 30 years

US makes biggest interest rate rise in almost 30 years

16/06/2022 GMT

BBC World Service - Business Matters, US makes biggest interest rate rise in almost 30 years

The US central bank has announced its biggest interest rate rise in nearly 30 years.

The US central bank has announced its biggest interest rate rise in nearly 30 years in a bid fight soaring consumer prices.

Vivienne Nunis is joined by Chief Executive Officer at Risk Cooperative Andres Franzetti and Member of the World Economic Forum’s Expert Network, Yoko Ishikura.

The Federal Reserve said it would increase its key interest rate by three quarters of a percentage point to a range of 1.5% to 1.75%. We’re joined by two business owners in Georgia and California to get their reaction to the announcement. We find out what it means for the global economy. Yoko Ishikura talks about the impact on Japan’s economy. Vintage kimonos - once passed down through generations – are finding a new home at second-hand markets – Yoko tells us more. 

Vladimir Putin and his Chinese counterpart, Xi Jinping, have agreed to deepen their strategic cooperation, in what's reported to be their second phone conversation since Russia's invasion of Ukraine. Chief Executive Officer at Risk Cooperative Andres Franzetti shares his thoughts on how Washington might view this. And, after 27 years, Microsoft is retiring Internet Explorer for good.

(Picture: Flags fly above the Federal Reserve building in Washington, DC, U.S., August 22, 2018. Picture Credit: REUTERS/Chris Wattie/File Photo)

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