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Fed Cuts Interest Rates For First Time In 4 Years - Washington

U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on September 18, 2024. The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years. Photo by Hu Yousong/Xinhua/ABACAPRESS.COM

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Fed Cuts Interest Rates For First Time In 4 Years - Washington

U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on September 18, 2024. The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years. Photo by Hu Yousong/Xinhua/ABACAPRESS.COM

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Fed Cuts Interest Rates For First Time In 4 Years - Washington

U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on September 18, 2024. The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years. Photo by Hu Yousong/Xinhua/ABACAPRESS.COM

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Fed Cuts Interest Rates For First Time In 4 Years - Washington

U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on September 18, 2024. The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years. Photo by Hu Yousong/Xinhua/ABACAPRESS.COM

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Fed Cuts Interest Rates For First Time In 4 Years - Washington

U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on September 18, 2024. The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years. Photo by Hu Yousong/Xinhua/ABACAPRESS.COM

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Fed Cuts Interest Rates For First Time In 4 Years - Washington

U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on September 18, 2024. The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years. Photo by Hu Yousong/Xinhua/ABACAPRESS.COM

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Fed Cuts Interest Rates For First Time In 4 Years - Washington

U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on September 18, 2024. The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years. Photo by Hu Yousong/Xinhua/ABACAPRESS.COM

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Fed Cuts Interest Rates For First Time In 4 Years - Washington

(240919) -- BEIJING, September 19, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on September 18, 2024. The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years. Photo by Hu Yousong/Xinhua/ABACAPRESS.COM

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Fed Cuts Interest Rates For First Time In 4 Years - Washington

U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on September 18, 2024. The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years. Photo by Hu Yousong/Xinhua/ABACAPRESS.COM

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Fed Cuts Interest Rates For First Time In 4 Years - Washington

U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on September 18, 2024. The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years. Photo by Hu Yousong/Xinhua/ABACAPRESS.COM

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Fed Cuts Interest Rates For First Time In 4 Years - Washington

U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on September 18, 2024. The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years. Photo by Hu Yousong/Xinhua/ABACAPRESS.COM

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SRI LANKA-COLOMBO-INTEREST RATES-REDUCING

(240326) -- COLOMBO, March 26, 2024 (Xinhua) -- Sri Lanka's central bank governor Nandalal Weerasinghe speaks at a press conference in Colombo, Sri Lanka, on March 26, 2024. Sri Lanka's central bank decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) by 50 basis points to 8.50 percent and 9.50 percent respectively, the bank's statement said on Tuesday. (Photo by Gayan Sameera/Xinhua)

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Turkish central bank raises policy interest rate to 50 pct

STORY: Turkish central bank raises policy interest rate to 50 pct SHOOTING TIME: November 2023 and March 2024 DATELINE: March 22, 2024 LENGTH: 00:01:25 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of the Turkish Central Bank (Nov. 30, 2023) 2. various of the Turkish lira (Nov. 30, 2023) 3. various of people at a shopping mall in Türkiye (March 19 2024) (courtesy of ihlas news agency) 4. various of people at a supermarket in Türkiye (March 14, 2024) (courtesy of Ankara Metropolitan Municipality) 5. various of the Turkish lira (Nov. 30, 2023) 6. various of Fatih Karahan, governor of Turkish Central Bank (March 12, 2024) (courtesy of ihlas news agency) 7. various of the Turkish Central Bank (Nov. 30, 2023) STORYLINE: Türkiye's central bank has resumed its interest rate hikes, increasing the policy rate by 500 basis points to a substantial 50 percent, the bank said in a statement on Thursday. The move came as the bank aimed to tackle the persistent inflation that has been higher than anticipated

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Egypt's central bank issues 50 bln EGP in T-bills

STORY: Egypt's central bank issues 50 bln EGP in T-bills SHOOTING TIME: file DATELINE: March 4, 2024 LENGTH: 00:00:45 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of Egypt's Finance Ministry and the minister 2. various of Egypt's central bank 3. various of the Egyptian banknotes STORYLINE: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, issued treasury bills (T-bills) at a total value of EGP 50 billion through two offerings on Sunday. With a tenor of 91 days, the first tranche was valued at about EGP 25 billion, according to official data. The second offering stood at EGP 25 billion and will mature in 273 days. In early February, the Central Bank of Egypt raised the key interest rates by two percent. Accordingly, the overnight deposit rate, the overnight lending rate, and the main operation rate were raised to 21.25 percent, 22.25 percent, and 21.75 percent, respectively. In addition, the discount rate was raised by 200 basis points to 21.75 percent. The decision has b

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(InTibet)CHINA-XIZANG-NAGQU-XAINZA COUNTY-FRUITS AND VEGETABLES-PILOT PROJECT (CN)

(240106) -- LHASA, Jan. 6, 2024 (Xinhua) -- Trucks loaded with 50 tonnes of fresh fruits and vegetables purchased from Xining City of northwest China's Qinghai Province pass through the Tanggula Mountain pass in southwest China's Xizang Autonomous Region, Jan. 3, 2024. The Xainza County in Nagqu City, southwest China's Xizang Autonomous Region, situated at an average elevation of 4,700 meters. Traditionally, local herders' diet relies on meat and tea, lacking fruits and vegetables. To address this, the local authorities initiated a pilot project in 2019, ensuring the delivery of fresh and affordable fruits and vegetables to the remote townships in Xainza County. The Xainza County's Supply and Marketing Cooperative, investing nearly 3 million yuan, spearheaded this effort by establishing a fresh storage reserve and revamping 16 direct sales points across counties, townships and villages. They also introduced refrigeration units and transport vehicles. Usually, staff members here have to prepare goods

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U.S. homebuilder sentiment turns negative for first time in five months

STORY: U.S. homebuilder sentiment turns negative for first time in five months DATELINE: Sept. 19, 2023 LENGTH: 00:01:02 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of construction sites 2. various of local residential areas STORYLINE: U.S. homebuilder confidence dropped below the key break-even measure of 50 for the first time in five months amid high mortgage rates, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released Monday. Builder confidence in the market for newly-built single-family homes in September fell five points to 45, as persistently high mortgage rates above 7 percent continue to erode builder confidence, the association said in a statement. The decrease follows a 6-point drop in August. The average rate on the 30-year fixed mortgage has been over 7 percent since June, due to the U.S. Federal Reserve's aggressive rate hikes since March last year. The target range for the federal funds rate is at 5.25 percent to 5

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Sweden's economy forecast to shrink 0.9 pct in 2023

STORY: Sweden's economy forecast to shrink 0.9 pct in 2023 DATELINE: Aug. 10, 2023 LENGTH: 00:01:50 LOCATION: Stockholm CATEGORY: ECONOMY SHOTLIST: 1. press release (courtesy of the National Institute of Economic Research) 2. various of street views in Stockholm 3. various of Sweden's central bank 4. various of Sweden Statics STORYLINE: Sweden's gross domestic product (GDP) is forecast to shrink 0.9 percent this year, the National Institute of Economic Research (NIER) said on Wednesday. In its previous report released in late June, the government agency expected the country's GDP to contract by 0.4 percent. For 2024, the GDP is expected to grow by 1.2 percent, 0.2 percentage points slower than in the June prognosis. Inflation is expected to reach 8.7 percent this year and 2.7 percent in 2024, both figures unchanged from the previous prognosis. The key interest rate of Sweden's central bank (Riksbank) is forecast to reach 4 percent by the end of the year, 0.3 percentage points above what NIER predicted

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Russian cities mark Victory Day with fireworks

STORY: Russian cities mark Victory Day with fireworks DATELINE: May 11, 2023 LENGTH: 00:01:50 LOCATION: Moscow CATEGORY: SOCIETY SHOTLIST: 1. fireworks in Moscow 2. fireworks in Kazan 3. fireworks in St. Petersburg 4. fireworks in Rostov-on-Don STORYLINE: Fireworks were seen over Moscow on Tuesday night, marking the 78th anniversary of the Soviet Union's victory in the Great Patriotic War. According to Russian media, over 12,000 fireworks of more than 70 types were launched in Moscow alone. The salute lasted for 10 minutes and could be seen from 16 points in the capital. Fireworks also took place in major cities in Russia such as Kazan, St. Petersburg and Rostov-on-Don. Xinhua News Agency correspondents reporting from Moscow. (XHTV)

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New Zealand increases official cash rate to 5.25 pct

STORY: New Zealand increases official cash rate to 5.25 pct DATELINE: April 6, 2023 LENGTH: 00:02:10 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of banks and cash machines 2. various of supermarkets 3. various of street view and gas station STORYLINE: The Reserve Bank of New Zealand (RBNZ) on Wednesday increased its Official Cash Rate (OCR) by 50 basis points, from 4.75 percent to 5.25 percent, its highest level since late 2008. The central bank's Monetary Policy Committee agreed the OCR needs to increase, as previously indicated, to return inflation to the 1-3 percent target range over the medium term. "Inflation is still too high and persistent, and employment is beyond its maximum sustainable level," said a committee statement. The level of economic activity over the December quarter was lower than anticipated and there are emerging signs of capacity pressures in the economy easing, it said, adding demand continues to significantly outpace the economy's supply capacity, thereby mainta

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ECB raises interest rates by another 50 bps

STORY: ECB raises interest rates by another 50 bps DATELINE: March 17, 2023 LENGTH: 00:01:00 LOCATION: FRANKFURT, Germany CATEGORY: ECONOMY SHOTLIST: 1. various of the European Central Bank (ECB) 2. SOUNDBITE (English): CHRISTINE LAGARDE, ECB President 3. various of city scenes STORYLINE: The European Central Bank (ECB) on Thursday raised interest rates by another 50 basis points (bps), citing spiraling inflation in the eurozone. After the rate hike, the interest rates on the main refinancing operations, on the marginal lending facility and on the deposit facility will be increased to 3.5 percent, 3.75 percent and 3 percent respectively. SOUNDBITE (English): CHRISTINE LAGARDE, ECB President "Inflation is projected to remain too high for too long. Therefore, the Governing Council today decided to increase the three key ECB interest rates by 50 basis points." The decision reflected the bank's determination to bring the inflation down to its 2 percent target. The 50 bps rate hike on Thursday was pre-commi

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New Zealand central bank increases official cash rate by 50 basis points

STORY: New Zealand central bank increases official cash rate by 50 basis points DATELINE: Feb. 22, 2023 LENGTH: 0:02:10 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of banks and cash machines 2. various of supermarkets 3. various of street view STORYLINE: New Zealand's Reserve Bank increased the official cash rate (OCR) by 50 basis points to 4.75 percent on Wednesday, the 10th consecutive hike since mid-2021. As high inflation still plagues the economy, the central bank said more rate rises are needed to curb inflation. The OCR, which affects the cost of borrowing, was just 0.25 percent in mid-2021. Cyclone Gabrielle and other recent severe weather events have had a devastating effect on the lives of many New Zealanders, and it is too early to accurately assess the monetary policy implications of these weather events, said a Reserve Bank statement. Over the coming weeks, prices for some goods are likely to spike, economic activities will be weaker than previously expected, an

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People in Zawiyah, Libya

ZAWIYAH, Libya - A man on Sept. 2, 2011, points to the site where forces loyal to Muammar Gaddafi dug up the bodies of protesters in Zawiyah, about 50 kilometers west of Tripoli. Gaddafi's troops destroyed a mosque after suppressing anti-Gaddafi protests and dug up the bodies of around 30 protesters buried near the mosque.

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Kidnapped newborn baby rescued

SENDAI, Japan - A man points to the glass door of a newspaper shop in Sendai on Jan. 8, where an envelop containing a handwritten letter demanding 61.5 million yen in ransom for a newborn baby was found put up. Police rescued the baby, Shu Yamada, some 50 hours after he was snatched by a man from a hospital in the city.

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(1)Lewis powers Sonics past Clippers

SAITAMA, Japan - Rashard Lewis (R) gets congratulations from teammate Reggie Evans after scoring a career-high 50 points as the Seattle SuperSonics beat the Los Angeles Clippers 124-105 at the Japan Games at Saita Super Arena on Nov. 1.

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China's economy on more solid ground with steady Q3 growth

STORY: China's economy on more solid ground with steady Q3 growth DATELINE: Oct. 25, 2022 LENGTH: 00:00:50 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of Chinese economic activity STORYLINE: China's economy is on more solid ground in the third quarter of this year with major indicators showing positive signs of stabilization, backed by the country's efforts to balance epidemic control and economic and social development. According to the National Bureau of Statistics (NBS), China's gross domestic product (GDP) grew 3.9 percent year on year to 30.76 trillion yuan (about 4.32 trillion U.S. dollars) in the third quarter, 3.5 percentage points higher than that in the second quarter. The NBS said that in the first three quarters, China's GDP increased 3 percent year on year, 0.5 percentage points faster than that in the first half of 2022. The NBS said that many major economic indicators saw significant improvements compared with that in the second quarter, with production demand gradually recov

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Entrepreneur, bankers' macroeconomic heat indexes improve quarter on quarter: China's central bank surveys

STORY: Entrepreneur, bankers' macroeconomic heat indexes improve quarter on quarter: China's central bank surveys DATELINE: Oct. 10, 2022 LENGTH: 00:01:05 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of China's central bank 2. various of Chinese banks 3. various of mansions STORYLINE: Surveys conducted by China's central bank found that both the entrepreneur and bankers' macroeconomic heat indexes, reflecting the two groups' judgement on the current macroeconomic situation, improved quarter on quarter. In the July-September period, the entrepreneur macroeconomic heat index stood at 26.9 percent, while the bankers' macroeconomic heat index reversed a downward trend to reach 19.9 percent, up 2.1 percentage points from the second quarter. The central bank said that of the over 5,000 industrial companies surveyed nationwide, 52.2 percent considered the macroeconomic climate "normal." After surveying some 20,000 depositors in 50 cities across the country, the central bank found more urban residen

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New Zealand hikes cash rate by 0.5 percent

STORY: New Zealand hikes cash rate by 0.5 percent DATELINE: Oct. 5, 2022 LENGTH: 00:01:56 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of New Zealand 2. various of people buying in the supermarket 3. various of the petrol station STORYLINE: The Monetary Policy Committee of New Zealand's central bank agreed on Wednesday to increase the Official Cash Rate (OCR) by 50 basis points to 3.5 percent. The current OCR is at its highest point in seven years. The committee agreed that it remains appropriate to continue to tighten monetary conditions at pace to maintain price stability and contribute to maximum sustainable employment. "Core consumer price inflation is too high and labor resources are scarce," said in a committee statement. Global consumer price pressures remain heightened. The global demand for goods and services is exceeding supply capacity, putting upward pressure on prices, it said. In New Zealand, the level of domestic spending has remained resilient to date, in the face of slo

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U.S. inflation unmanageable despite Fed's rate hikes, says Turkish economist

STORY: U.S. inflation unmanageable despite Fed's rate hikes, says Turkish economist DATELINE: Sept. 24, 2022 LENGTH: 00:01:37 LOCATION: ISTANBUL, Türkiye CATEGORY: POLITICS SHOTLIST: various of U.S. dollar banknotesSOUNDBITE 1 (Turkish): MURAT TUFAN, Analyst with Turkish broadcaster Ekoturkvarious of U.S. Federal ReserveSOUNDBITE 2 (Turkish): MURAT TUFAN, Analyst with Turkish broadcaster Ekoturk STORYLINE: A Turkish economist has said the U.S. Federal Reserve's (Fed) latest interest rate hike would not help relieve the country's rising inflation as it has gone off the road under current circumstances. Murat Tufan, an analyst with Turkish broadcaster Ekoturk, points out that the U.S. authorities had failed to deliver an inflation warning to the market previously. SOUNDBITE 1 (Turkish): MURAT TUFAN, Analyst with Turkish broadcaster Ekoturk "If (U.S. President) Joe Biden had boldly wanted to control inflation, he would have increased the rates long ago with 50 to 75 basis points. He would not have given an

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GERMANY-FRANKFURT-ECB-INTEREST RATES

(220908) -- FRANKFURT, Sept. 8, 2022 (Xinhua) -- Photo taken on Sept. 8, 2022 shows the Euro sculpture in Frankfurt, Germany. The European Central Bank (ECB) on Thursday raised key interest rates by 75 basis points (bp), the second such hike after a 50 bp increase in July. TO GO WITH "ECB raises interest rates by 75 basis points" (Xinhua/Shan Weiyi)

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GERMANY-FRANKFURT-ECB-INTEREST RATES

(220908) -- FRANKFURT, Sept. 8, 2022 (Xinhua) -- European Central Bank (ECB) President Christine Lagarde speaks during a press conference in Frankfurt, Germany, Sept. 8, 2022. The European Central Bank (ECB) on Thursday raised key interest rates by 75 basis points (bp), the second such hike after a 50 bp increase in July. TO GO WITH "ECB raises interest rates by 75 basis points" (ECB/Handout via Xinhua)

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GERMANY-FRANKFURT-ECB-INTEREST RATES

(220908) -- FRANKFURT, Sept. 8, 2022 (Xinhua) -- Photo taken on Sept. 8, 2022 shows the Euro sculpture and a fountain sculpture in Frankfurt, Germany. The European Central Bank (ECB) on Thursday raised key interest rates by 75 basis points (bp), the second such hike after a 50 bp increase in July. TO GO WITH "ECB raises interest rates by 75 basis points" (Xinhua/Shan Weiyi)

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Australia's cash rate hits 2.35 pct after 5 consecutive hikes

STORY: Australia's cash rate hits 2.35 pct after 5 consecutive hikes DATELINE: Sept. 8, 2022 LENGTH: 00:02:14 LOCATION: SYDNEY, Australia CATEGORY: ECONOMY SHOTLIST: 1. various of the Reserve Bank of Australia and street view in Australia 2. SOUNDBITE 1 (English): SARAH HUNTER, Partner, senior economist from KPMG 3. SOUNDBITE 2 (English): SARAH HUNTER, Partner, senior economist from KPMG 4. various of street view in Australia STORYLINE: The Reserve Bank of Australia (RBA) on Tuesday announced a rate hike for the 5th consecutive month, lifting its cash rate target by 50 basis points to a record high of 2.35 percent since 2015. "The Board is committed to returning inflation to the 2-3 percent range over time. It is seeking to do this while keeping the economy on an even keel," Governor Philip Lowe said in a statement on the monetary policy decision. Noting that inflation in Australia is at its highest level since the early 1990s and expected to increase further, the governor said more rate increases a

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AUSTRALIA-SYDNEY-CASH RATE

(220906) -- SYDNEY, Sept. 6, 2022 (Xinhua) -- A pedestrian walks past the Reserve Bank of Australia in Sydney, Australia, Sept. 6, 2022. The Reserve Bank of Australia (RBA) on Tuesday announced a rate hike for the 5th consecutive month, lifting its cash rate target by 50 basis points to a record high of 2.35 percent since 2015. (Photo by Hu Jingchen/Xinhua)

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AUSTRALIA-SYDNEY-CASH RATE

(220906) -- SYDNEY, Sept. 6, 2022 (Xinhua) -- A pedestrian walks past the Reserve Bank of Australia in Sydney, Australia, Sept. 6, 2022. The Reserve Bank of Australia (RBA) on Tuesday announced a rate hike for the 5th consecutive month, lifting its cash rate target by 50 basis points to a record high of 2.35 percent since 2015. (Photo by Hu Jingchen/Xinhua)

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S. Korea raises policy rate by 25 bps to curb inflation

STORY: S. Korea raises policy rate by 25 bps to curb inflation DATELINE: Aug. 25, 2022 LENGTH: 0:01:33 LOCATION: Seoul CATEGORY: ECONOMY SHOTLIST: 1. Bank of Korea (files) 2. Bank of Korea (BOK) Governor Rhee Chang-yong (Yonhap TV) 3. a rate-setting meeting (Yonhap TV) 4. file footage of citizens shopping in mart (Yonhap TV) 5. file footage of U.S. dollar (Yonhap TV) STORYLINE: South Korea's central bank on Thursday raised its policy rate to curb inflation, delivering four back-to-back rate hikes for the first time. Bank of Korea (BOK) Governor Rhee Chang-yong and other monetary policymakers unanimously decided to lift the benchmark seven-day repurchase rate by 25 basis points to 2.50 percent. It marked the fourth consecutive rate increase for the first time, after hiking the rate by 50 basis points in July. The BOK set off its tightening monetary policy since August last year. The Thursday hike was in line with market expectations. According to a Korea Financial Investment Association poll of

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GERMANY-FRANKFURT-ECB-KEY INTEREST RATES-RISE

(220721) -- FRANKFURT, July 21, 2022 (Xinhua) -- European Central Bank President Christine Lagarde speaks during a press conference in Frankfurt, Germany, on July 21, 2022. The European Central Bank (ECB) on Thursday raised key interest rates by 50 basis points, the first increase since 2011, in an effort to normalize its monetary policies. (ECB/Handout via Xinhua)

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GERMANY-FRANKFURT-ECB-KEY INTEREST RATES-RISE

(220721) -- FRANKFURT, July 21, 2022 (Xinhua) -- European Central Bank President Christine Lagarde speaks during a press conference in Frankfurt, Germany, on July 21, 2022. The European Central Bank (ECB) on Thursday raised key interest rates by 50 basis points, the first increase since 2011, in an effort to normalize its monetary policies. (ECB/Handout via Xinhua)

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New Zealand hikes rate to 2.50 pct, food prices rise 6.6 pct in June

STORY: New Zealand hikes rate to 2.50 pct, food prices rise 6.6 pct in June DATELINE: July 13, 2022 LENGTH: 0:01:56 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of streets 2. various of a port 3. various of a supermarket STORYLINE: New Zealand's Monetary Policy Committee agreed on Wednesday to increase the Official Cash Rate (OCR) by 50 basis points to 2.50 percent. The Committee noted it remains appropriate to continue to tighten monetary conditions at a pace to maintain price stability and support maximum sustainable employment. It is resolute in its commitment to ensuring consumer price inflation returns to within the 1 to 3 percent target range. The level of global economic activity, combined with the ongoing supply disruptions largely driven by both COVID-19 persistence and the Ukraine crisis, continues to generate global inflation pressures. Food and energy prices are especially affected by geopolitical tension, the committee said in a statement. However, the pace of global

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Chile to increase monthly minimum wage

STORY: Chile to increase monthly minimum wage DATELINE: April 28, 2022 LENGTH: 00:01:50 LOCATION: Santiago CATEGORY: ECONOMY SHOTLIST: various of people workingSOUNDBITE (Spanish): GABRIEL BORIC, Chilean President STORYLINE: The Chile's government has reached an agreement with the Workers' United Center of Chile (CUT) to raise the minimum wage. According to the Minister of Finances Mario Marcel, the government will raise the monthly minimum wage to 380,000 Chilean pesos (448 U.S. dollars) starting May 1, and 400,000 pesos (472 dollars) starting Aug. 1. The current monthly minimum wage stands at 350,000 pesos (413 dollars). SOUNDBITE (Spanish): GABRIEL BORIC, Chilean President "The agreement reached by our government through Minister Jara and Minister Marcel with the Workers' United Center points us in the right direction. It is a more equitable distribution of wealth, a focus on specific measures to deal with the rising cost of living, a historical readjustment of the minimum wage. As you can objectivel

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U.S. Fed chair says 50 basis points rate hike "on the table" for May meeting

STORY: U.S. Fed chair says 50 basis points rate hike "on the table" for May meeting DATELINE: April 22, 2022 LENGTH: 00:00:52 LOCATION: Washington, D.C. CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE 1 (English): JEROME POWELL, U.S. Fed Chair 2. SOUNDBITE 2 (English): JEROME POWELL, U.S. Fed Chair 3. SOUNDBITE 3 (English): JEROME POWELL, U.S. Fed Chair STORYLINE: It is appropriate for the U.S. Federal Reserve to "move a little more quickly" amid surging inflation and accommodative monetary condition, Fed Chair Jerome Powell said Thursday, signaling a 50-basis-point rate hike for the May meeting. Powell made the remarks in a panel discussion during the 2022 Spring Meetings of the International Monetary Fund and the World Bank. SOUNDBITE 1 (English): JEROME POWELL, U.S. Fed Chair "Our goal is to use our tools to get demand and supply back in sync, so that inflation moves down and do so without a slowdown that amounts to a recession. That's our goal. I don't think you'll hear anyone at the Fed say that that's goi

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Sweden records highest inflation since 1991

STORY: Sweden records highest inflation since 1991 DATELINE: April 16, 2022 LENGTH: 00:01:50 LOCATION: Stockholm CATEGORY: ECONOMY SHOTLIST: 1. various of street view in Sweden STORYLINE: Sweden is experiencing the highest inflation in decades, with a 12-month inflation rate of 6.1 percent in March, Statistics Sweden said on Thursday. "The inflation rate rose sharply because of a general and broad price increase. Prices on food and non-alcoholic beverages rose, but mainly it was rising electricity and fuel prices that had a major impact," Caroline Neander, a statistician of the agency, said in a press release. The CPIF (Consumer Price Index with a fixed interest rate) 12-month inflation rate rose by 1.7 percent from February to March, according to the Swedish government agency. The rate was mainly affected by higher energy prices, which contributed 2.2 percentage points, adding that additional contributing factors were higher prices for food and non-alcoholic beverages. The agency also repo

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Desert challenge championship held in Kuwait

STORY: Desert challenge championship held in Kuwait DATELINE: March 6, 2022 LENGTH: 00:02:07 LOCATION: Kuwait City CATEGORY: SOCIETY/SPORTS SHOTLIST: 1. various of the Desert challenge championship STORYLINE: Kuwait launched on Saturday the 2022 Kuwait Desert Challenge championship to encourage desert sports among car enthusiasts. Organized by the Kuwait's Basel Al-Salem Al-Sabah Motor Racing Club, the race attracted nearly 50 local racers. The competition was held at "Basil Al-Sabah" circuit in Jahra Governorate with sharp turning points and hindering sand dunes. Desert sports are very popular in this Arab country. Xinhua News Agency correspondents reporting from Kuwait City. (XHTV)

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Next round of Russia-Ukraine peace talks to be held on Belarusian-Polish border -- head of Russian delegation

STORY: Next round of Russia-Ukraine peace talks to be held on Belarusian-Polish border -- head of Russian delegation DATELINE: March 1, 2022 LENGTH: 00:00:50 LOCATION: Moscow CATEGORY: POLITICS SHOTLIST: 1. SOUNDBITE (Russian): VLADIMIR MEDINSKY, Head of the Russian delegation STORYLINE: The next round of Russia-Ukraine peace talks will take place on the Belarusian-Polish border in the coming days, according to Vladimir Medinsky, head of the Russian delegation at the talks held in Belarus, Russia's RIA Novosti news agency reported Monday. SOUNDBITE (Russian): VLADIMIR MEDINSKY, Head of the Russian delegation "The negotiations with the Ukrainian side, which lasted about five hours, have just ended. During this time, we went through all the items on the agenda in detail and found some points on which common ground could be predicted. And most importantly, we have agreed to continue the negotiation process. The next meeting will be held in the coming days on the Polish-Belarusian border. There are relevant p

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Party road released by NTT East

NTT East opened to the press the tunnel (photo) under Kasumigaseki, Tokyo, where telephone lines and optical fiber cables are routed. The total length of the tunnels is about 650 kilometers, of which about 290 kilometers are in Tokyo. It is possible to walk from Kasumigaseki to Shinjuku and Ikebukuro on the To-Do. The Kasumigaseki To-Do passes under the JR Yokosuka Line, which runs underground, and at some points reaches 50 meters underground. The number of fixed-line phone lines subscribed to by NTT East and West has declined to about 18.13 million, less than a third of the 1997 peak. The number of fixed-line telephone subscriptions by NTT East and West has declined to about 18.13 million, less than a third of its peak in 1997, and is on the decline due to the spread of cell phones. (November 29, 2019, Tokyo, Japan; Credit: Nikkan Kogyo Shimbun / Kyodo News Images)

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Kidnapped newborn baby rescued

SENDAI, Japan - A man points to the glass door of a newspaper shop in Sendai on Jan. 8, where an envelop containing a handwritten letter demanding 61.5 million yen in ransom for a newborn baby was found put up. Police rescued the baby, Shu Yamada, some 50 hours after he was snatched by a man from a hospital in the city. (Kyodo)

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People in Zawiyah, Libya

ZAWIYAH, Libya - A man on Sept. 2, 2011, points to the site where forces loyal to Muammar Gaddafi dug up the bodies of protesters in Zawiyah, about 50 kilometers west of Tripoli. Gaddafi's troops destroyed a mosque after suppressing anti-Gaddafi protests and dug up the bodies of around 30 protesters buried near the mosque. (Kyodo)

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(1)Lewis powers Sonics past Clippers

SAITAMA, Japan - Rashard Lewis (R) gets congratulations from teammate Reggie Evans after scoring a career-high 50 points as the Seattle SuperSonics beat the Los Angeles Clippers 124-105 at the Japan Games at Saita Super Arena on Nov. 1. (Kyodo)