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World Business Report: First broadcast 27/10/2022 14:32 GMT : European Central Bank doubles interest rates to most in over a decade

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European Central Bank doubles interest rates to most in over a decade

First broadcast 27/10/2022 14:32 GMT 

First broadcast 27/10/2022 14:32 GMT : European Central Bank doubles interest rates to most in over a decade

BBC World Service - World Business Report, European Central Bank doubles interest rates to most in over a decade

European interest rates have spiked to post-2009 heights, prompting recession fears.

The European Central Bank's has raised interest rates for the third time this year to 1.5%. These rates are at their highest level since the global financial downturn of 2009. Maria Demertzis, deputy director of the Bruegel, an economic think tank in Brussels, discusses the immediate and long term effects of this strategy.

We hear from Jin Liqun, the boss of China's development bank about why they keep lending to countries with already crippling debt.

In its annual report, the International Energy Agency (IEA) has warned that the first truly global energy crisis may be on the horizon as a result of Russia's invasion of Ukraine. Presenter Sam Fenwick speaks to the chief energy economist at the IEA, one of the co-lead authors of the report.

Emma Wall, the head of investment analysis at the UK brokers Hargreaves Lansdown follows the latest on the markets.

Good news for Indian cricket as the men's and women's national cricket teams will be paid the same appearance fee to represent their country. The announcement came from the India's top Indian cricket official, Jay Shah, who said, "Pay equity was my commitment to our women cricketers". Diana Edulji, Indian's first woman cricket captain explains the significance of this milestone. 

Presenter: Sam Fenwick
Producer: Devina Gupta and Gabriele Shaw
Senior producer: Izzy Greenfield |

(Photo: Christine Christine Lagarde, President of the European Central Bank. Credit: Ronald Wittek/EPA-EFE/Rex/Shutterstock)

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First broadcast 27/10/2022 14:32 GMT : European Central Bank doubles interest rates to most in over a decade

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