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World Business Report: First broadcast 02/11/2022 22:32 GMT : US hikes interest rates to 14-year high

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US hikes interest rates to 14-year high

First broadcast 02/11/2022 22:32 GMT 

First broadcast 02/11/2022 22:32 GMT : US hikes interest rates to 14-year high

BBC World Service - World Business Report, US hikes interest rates to 14-year high

The Federal Reserve announces a 0.75% rate rise

The US Federal Reserve has approved another sharp rise in interest rates.

The US Federal Reserve on Wedndesday aproved a further hike in interest rates of 0.75%. It’s in a bid to tame inflation which has skyrocketed to its highest in four decades.

As the world arrives in Cairo for COP27 which begins on Sunday, Egypt is battling a crisis in its economy as well as its environment. The country is dealing with the after effects of the pandemic as well as the Russian-Ukraine war.

Also, Mexico celebrates the Day of the Dead – but could it spell a tourism revival for Central America?(Picture: U.S. Federal Reserve Bank Board Chairman Jerome Powell answers reporters' questions during a news conference following a meeting of the Federal Open Market Committee (FMOC) at the bank headquarters on November 02, 2022 in Washington, DC. Credit: Getty Images).

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First broadcast 02/11/2022 22:32 GMT : US hikes interest rates to 14-year high

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