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Added on the 13/05/2022 11:48:40 - Copyright : France 24 EN
Federal Reserve Chair Jerome Powell says that recent banking sector developments "are likely to result in tighter credit conditions for households and businesses," and to weigh on economic activity, hiring and inflation. During a press conference, he adds that "some additional policy firming may be appropriate" to get to a stance that is sufficiently restrictive to bring inflation down. SOUNDBITE
Thousands protest in Argentina's capital, Buenos Aires, in demand of universal basic income, as the impoverished South American country struggles to repay its $44 billion debt with the International Monetary Fund (IMF) amid rampant inflation and social unrest. IMAGES
The world's economic outlook is "much more pessimistic" as a result of the war in Ukraine, warns Secretary-General Mathias Cormann, as the OECD slashes its 2022 growth forecast and projects higher inflation. SOUNDBITE
Members of the main Spanish trade and employment unions hold a demonstration protesting against the rising cost of living. Record inflation levels have fuelled growing anger with Spain's left-wing government as energy prices go through the roof. IMAGES
The International Monetary Fund projects that energy prices "will be elevated" during the coming winter months but will then "come back down by the end of the first quarter next year and into the second quarter," IMF chief economist Gita Gopinath says in an interview with AFP. SOUNDBITE
The EU is to donate another 200 million Covid-19 vaccine doses to low-income countries, more than doubling its present pledge, the bloc's chief Ursula von der Leyen announces. SOUNDBITE
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