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World Consumer Rights Day in Tongren

TONGREN, CHINA - MARCH 13, 2025 - Police officers promote public interest litigation laws and regulations at a bus stop in Wenshui Community, Pingxi Street, Yuping Dong Autonomous County, Tongren, southwest China's Guizhou province on March 13, 2025.

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XINHUA PHOTOS OF THE DAY

(240614) -- BEIJING, June 14, 2024 Photo by Xinhua/ABACAPRESS.COM) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on June 12, 2024. The U.S. Federal Reserve kept interest rates in place on Wednesday and predicted one rate cut later this year, as the latest consumer price data shows that inflation seems to be cooling. (U.S. Federal Reserve/Handout via Xinhua/ABACAPRESS.COM

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES

(240613) -- WASHINGTON, D.C., June 13, 2024 Photo by Xinhua/ABACAPRESS.COM) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on June 12, 2024. The U.S. Federal Reserve kept interest rates in place on Wednesday and predicted one rate cut later this year, as the latest consumer price data shows that inflation seems to be cooling. TO GO WITH "Economic Watch: U.S. Fed holds rates in place, predicts one cut this year" (U.S. Federal Reserve/Handout via Xinhua/ABACAPRESS.COM

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES

(240613) -- WASHINGTON, D.C., June 13, 2024 Photo by Xinhua/ABACAPRESS.COM) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on June 12, 2024. The U.S. Federal Reserve kept interest rates in place on Wednesday and predicted one rate cut later this year, as the latest consumer price data shows that inflation seems to be cooling. TO GO WITH "Economic Watch: U.S. Fed holds rates in place, predicts one cut this year" (U.S. Federal Reserve/Handout via Xinhua/ABACAPRESS.COM

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES

(240613) -- WASHINGTON, D.C., June 13, 2024 Photo by Xinhua/ABACAPRESS.COM) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on June 12, 2024. The U.S. Federal Reserve kept interest rates in place on Wednesday and predicted one rate cut later this year, as the latest consumer price data shows that inflation seems to be cooling. TO GO WITH "Economic Watch: U.S. Fed holds rates in place, predicts one cut this year" (U.S. Federal Reserve/Handout via Xinhua/ABACAPRESS.COM

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U.S. Fed keeps interest rates unchanged at 5.25-5.5 pct as inflation cools

STORY: U.S. Fed keeps interest rates unchanged at 5.25-5.5 pct as inflation cools SHOOTING TIME: June 12, 2024 DATELINE: June 13, 2024 LENGTH: 00:01:26 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference STORYLINE: The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as the latest consumer price data shows that inflation seems to be cooling. In a statement after the two-day policy meeting, the Federal Open Market Committee (FOMC), the Fed's policy-setting body, reiterated that the committee does not expect it will be appropriate to reduce the target range "until it has gained greater confidence that inflation is moving sustainably toward 2 percent." In addition, the committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, the FOMC said. The Fed's announcement came just a few hours after the U.S. Labor Department reported that the

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Russians welcome Chinese goods at MosHome exhibition in Moscow

STORY: Russians welcome Chinese goods at MosHome exhibition in Moscow SHOOTING TIME: May 13, 2024 DATELINE: May 15, 2024 LENGTH: 00:01:42 LOCATION: Moscow CATEGORY: ECONOMY SHOTLIST: 1. various of MosHome 2024 exhibition 2. SOUNDBITE 1 (Russian): YULIA MARKOVA, Director of MosHome 3. SOUNDBITE 2 (Russian): SVETLANA, Visitor 4. SOUNDBITE 3 (Russian): DMITRY, Visitor STORYLINE: The ongoing second international exhibition of consumer goods for house, garden, sports and leisure, or MosHome 2024, has sparked huge interest for Chinese goods among Russians. This year's event, running from Monday to Thursday in Moscow, brings together over 600 Chinese manufacturers seeking to expand their sales and presence in the Russian market. SOUNDBITE 1 (Russian): YULIA MARKOVA, Director of MosHome "More and more Chinese companies are appearing on the Russian market, and the variety of products is surprising. Last year, we had about 150 companies at the exhibition. This year, there are already over 600 companies from China

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U.S. Fed keeps interest rates unchanged at 5.25-5.5 pct as inflation ticks up

STORY: U.S. Fed keeps interest rates unchanged at 5.25-5.5 pct as inflation ticks up SHOOTING TIME: May 1, 2024 DATELINE: May 2, 2024 LENGTH: 00:01:14 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of Jerome Powell at the press conference STORYLINE: The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates that inflation continued to tick up. "Inflation has eased over the past year but remains elevated. In recent months, there has been a lack of further progress toward the Committee's 2 percent inflation objective," the Federal Open Market Committee (FOMC), the Fed's policy-setting body, said in a statement released after the Fed's two-day policy meeting. "The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks," the statement read. Beginning in June, the Committee will slow the pace of decline of its securities holdings by reducing the monthly

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240501) -- WASHINGTON, May 1, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on May 1, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates that inflation continued to tick up. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240501) -- WASHINGTON, May 1, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on May 1, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates that inflation continued to tick up. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240501) -- WASHINGTON, May 1, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell (Rear) attends a press conference in Washington, D.C., the United States, on May 1, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates that inflation continued to tick up. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240501) -- WASHINGTON, May 1, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on May 1, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates that inflation continued to tick up. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240501) -- WASHINGTON, May 1, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on May 1, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates that inflation continued to tick up. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240501) -- WASHINGTON, May 1, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on May 1, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates that inflation continued to tick up. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240501) -- WASHINGTON, May 1, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell (at the podium) attends a press conference in Washington, D.C., the United States, on May 1, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates that inflation continued to tick up. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240501) -- WASHINGTON, May 1, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on May 1, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates that inflation continued to tick up. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240501) -- WASHINGTON, May 1, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on May 1, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates that inflation continued to tick up. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240501) -- WASHINGTON, May 1, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on May 1, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates that inflation continued to tick up. (Xinhua/Liu Jie)

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Turkish central bank keeps policy rate unchanged at 50 pct

STORY: Turkish central bank keeps policy rate unchanged at 50 pct SHOOTING TIME: Earlier footage DATELINE: April 26, 2024 LENGTH: 00:01:04 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Turkish Central Bank 2. various of Turkish lira STORYLINE: Türkiye's central bank on Thursday kept its interest rate unchanged at 50 percent, saying that the monetary policy decisions in March have led to a significant tightening in financial conditions. "Considering the lagged effects of the monetary tightening, the committee decided to keep the policy rate unchanged, but reiterated that it remains highly attentive to inflation risks," the bank said in a statement, adding that it will maintain the tight monetary stance until a significant and sustained decline in monthly inflation is observed. Despite the ongoing decline, the underlying trend of monthly inflation in March was higher than expected, the statement said. "While imports of consumer goods and gold contribute to the improvement in the current

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Inflation in Sweden slows down in March

STORY: Inflation in Sweden slows down in March SHOOTING TIME: April 12, 2024 DATELINE: April 13, 2024 LENGTH: 00:01:30 LOCATION: Stockholm CATEGORY: ECONOMY SHOTLIST: 1. various of Statistics Sweden (SCB) 2. various of supermarkets 3. various of Stockholm's streets STORYLINE: Inflation in Sweden slowed from 4.5 percent in February to 4.1 percent in March, Statistics Sweden (SCB) said on Friday. Mikael Nordin, a statistician at SCB, said that the cost of certain goods had decreased from the same period last year. SCB said that inflation, measured as the Consumer Price Index (CPI), was mainly driven by mortgage costs rising by 39.3 percent for apartment owners. Meanwhile, tenants paid 5 percent higher rents for their apartments than a year earlier. However, increasing housing costs were offset by cheaper diesel and electricity -- down by 17.5 percent and 9.1 percent respectively year-on-year, SCB said. Besides increased lending costs due to the Swedish central bank raising the benchmark interest rate f

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U.S. Fed keeps interest rates unchanged at 5.25-5.5 pct amid continued inflation pressures

STORY: U.S. Fed keeps interest rates unchanged at 5.25-5.5 pct amid continued inflation pressures SHOOTING TIME: March 20, 2024 DATELINE: March 21, 2024 LENGTH: 00:01:11 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of Jerome Powell waking into the press room 2. SOUNDBITE (English): JEROME POWELL, U.S. Federal Reserve Chair STORYLINE: The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates continued inflation pressures. The Federal Open Market Committee (FOMC), the Fed's policy-setting body, reiterated in a statement that it does not expect it will be appropriate to reduce the target range "until it has gained greater confidence that inflation is moving sustainably toward 2 percent." SOUNDBITE (English): JEROME POWELL, U.S. Federal Reserve Chair "Inflation is still too high, ongoing progress in bringing it down is not assured and the path forward is uncertain. We are fully committed to ret

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240320) -- WASHINGTON, March 20, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on March 20, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates continued inflation pressures. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240320) -- WASHINGTON, March 20, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on March 20, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates continued inflation pressures. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240320) -- WASHINGTON, March 20, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on March 20, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates continued inflation pressures. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240320) -- WASHINGTON, March 20, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on March 20, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates continued inflation pressures. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240320) -- WASHINGTON, March 20, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on March 20, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates continued inflation pressures. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240320) -- WASHINGTON, March 20, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on March 20, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates continued inflation pressures. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240320) -- WASHINGTON, March 20, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on March 20, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates continued inflation pressures. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240320) -- WASHINGTON, March 20, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on March 20, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates continued inflation pressures. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240320) -- WASHINGTON, March 20, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on March 20, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates continued inflation pressures. (Xinhua/Liu Jie)

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U.S.-WASHINGTON, D.C.-FED-INTEREST RATES-UNCHANGED

(240320) -- WASHINGTON, March 20, 2024 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on March 20, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates continued inflation pressures. (Xinhua/Liu Jie)

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Drone formation shows on the rise in China

STORY: Drone formation shows on the rise in China SHOOTING TIME: Jan. 23, 2024 DATELINE: Feb. 1, 2024 LENGTH: 00:02:17 LOCATION: GUIZHOU, NANCHANG, China CATEGORY: SOCIETY SHOTLIST: 1. various of drone formation shows 2. SOUNDBITE 1 (Chinese): LU LINGYUE, General manager of Jiangxi Aero Future 3. SOUNDBITE 2 (Chinese): LONG LIPING, Guizhou Shuzhi Cultural Technology Co., Ltd. Head of the UAV Performance Department 4. SOUNDBITE 3 (Chinese): HUANG ZONGCE, Deputy general manager of Guizhou Shuzhi Cultural Technology Co., Ltd 5. various of drone formation shows STORYLINE: In recent years, China has seen a rapid development in drone formation shows. These shows, characterized by their diverse applications, have extended beyond official celebrations, scenic spot promotions, and large-scale event openings, attracting interest from ordinary citizens who have become a new consumer base for this innovative form of entertainment. With advancements in overall coordination, viewer experience, and safety measures, dr

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Peru cuts interest rate as recession persists

STORY: Peru cuts interest rate as recession persists SHOOTING TIME: File DATELINE: Nov. 11, 2023 LENGTH: 00:03:39 LOCATION: Lima CATEGORY: ECONOMY SHOTLIST: 1. various of Lima STORYLINE: In its November decision, the Board of Directors of the Central Reserve Bank of Peru (BCRP) decided to reduce the reference rate to 7.00 percent, a 25 basis point decrease. The monetary authority said that this decision does not necessarily imply a sequence of interest rate reductions. The bank's third consecutive cut came as the rate of rising consumer prices has been coming down. According to official data, Peru's annual inflation decelerated to 4.34 percent to reach its lowest level in over two years. The BCRP Board's next monetary policy session will take place on Dec. 14. Xinhua News Agency correspondents reporting from Lima. (XHTV)

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Australia's central bank lifts cash rate to 4.35 pct

STORY: Australia's central bank lifts cash rate to 4.35 pct SHOOTING TIME: Nov. 7, 2023 DATELINE: Nov. 8, 2023 LENGTH: 0:01:09 LOCATION: SYDNEY, Australia CATEGORY: ECONOMY SHOTLIST: 1. various of Sydney Opera House 2. various of the Reserve Bank of Australia 3. various of banks STORYLINE: The Reserve Bank of Australia (RBA) on Tuesday decided to raise the cash rate target by 25 basis points to 4.35 percent, after keeping the rate on hold for four consecutive months. Following a monetary policy meeting on Tuesday, RBA Governor Michele Bullock said in a statement that the rise in interest rates was warranted to be more assured that inflation would return to target in a reasonable timeframe. According to the latest figures released by the Australian Bureau of Statistics, the Consumer Price Index (CPI) rose 1.2 percent in the September 2023 quarter, higher than the 0.8-percent rise in the June 2023 quarter, while the annual inflation eased down from 6.0 percent to 5.4 percent. Automotive fuel and

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Norway's central bank raises policy rate to 4.25 pct

STORY: Norway's central bank raises policy rate to 4.25 pct DATELINE: Sept. 22, 2023 LENGTH: 00:01:31 LOCATION: Oslo CATEGORY: ECONOMY SHOTLIST: 1. various of Norges Bank 2. various of a press conference held in Norges Bank 3. various of Norges Bank STORYLINE: Norges Bank, Norway's central bank, on Thursday increased its benchmark interest rate from 4.0 percent to 4.25 percent to curb inflation. Norges Bank Governor Ida Wolden Bache told reporters that the country's current inflation rate remains significantly above the targeted 2 percent. In Norway, prices have increased for a range of goods and services. According to official figures, the 12-month rise in the consumer price index (CPI) was 4.8 percent in August, higher than expected. "Persistently high inflation imposes substantial costs on society. A somewhat higher interest rate is imperative to align inflation with the target within a feasible timeframe," Bache said. She said challenges prevail in the labor market with its continuing tightness. In

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High inflation rate tests consumers'patience in Türkiye

STORY: High inflation rate tests consumers' patience in Türkiye DATELINE: Sept. 9, 2023 LENGTH: 00:03:42 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Turkish people on the streets and shopping 2. SOUNDBITE 1 (Turkish): MEHMET NURI SULAT, 70-year-old pensioner 3. SOUNDBITE 2 (Turkish): SAKINE YELGE, 57-year-old homemaker 4. SOUNDBITE 3 (Turkish): ISMAIL YIGIT, 67-year-old pensioner STORYLINE: Annual inflation in Türkiye hit 58.9 percent in August, with consumer prices increasing 9.09 percent from the previous month, according to official data released on Monday. Food costs increased significantly to a high of 72.9 percent year-on-year in August, putting an additional burden on struggling households. Türkiye is undergoing an economic overhaul since the appointment of market-friendly figures at key economic posts following the May general elections. More conventional monetary policies have been implemented, and interest rates have been significantly hiked but this has not helped ye

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Bank of England raises interest rate to 5 pct

STORY: Bank of England raises interest rate to 5 pct DATELINE: June 23, 2023 LENGTH: 00:01:40 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of Bank of England 2. various of streets in London 3. various of a supermarket in London STORYLINE: The Bank of England (BoE) has raised its benchmark interest rate by 0.5 percentage points to 5 percent, the central bank said in a statement on Thursday. At its meeting ending on Wednesday, the BoE's Monetary Policy Committee voted by a majority of seven to two in favor of the decision, the statement added. It came as the 13th consecutive rate hike since December 2021 as the central bank has battled against stubbornly high inflation, bringing the interest rate to the highest since 2008. The United Kingdom's (UK) consumer price index (CPI) rose by 8.7 percent in the 12 months to May, unchanged from April. This is 0.3 percentage points higher than expected in the BoE's May report. There has been significant upside news in recent data that indicates m

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U.S. Fed pauses hike of interest rates

STORY: U.S. Fed pauses hike of interest rates DATELINE: June 16, 2023 LENGTH: 00:01:29 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of U.S. Federal Reserve Chair Jerome Powell attending the press conference 2. various of exterior of the U.S. Federal Reserve STORYLINE: The U.S. Federal Reserve on Wednesday kept the target range of the federal funds rate unchanged at 5 percent to 5.25 percent, following a slew of 10 consecutive hikes since March 2022. "Holding the target range steady at this meeting allows the committee to assess additional information and its implications for monetary policy," the Federal Open Market Committee (FOMC) said in a statement issued on Wednesday afternoon, after concluding its latest two-day policy meeting. The pause of interest rate hikes was widely expected as the year-on-year growth rate of the U.S. consumer price index slowed down to 4 percent in May, from a peak of 9.1 percent in June 2022. The Federal Reserve reiterated that it is strongly committed

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Australian central bank halts rate hike

STORY: Australian central bank halts rate hike DATELINE: April 5, 2023 LENGTH: 00:00:53 LOCATION: SYDNEY, Australia CATEGORY: ECONOMY SHOTLIST: 1. various of Sydney 2. various of the Reserve Bank of Australia (RBA) and other banks STORYLINE: Australia's central bank, the Reserve Bank of Australia (RBA), announced on Tuesday that the cash rate target will remain unchanged at 3.60 percent and the interest rate on exchange settlement balances will also remain unchanged at 3.50 percent. The decision to leave the cash rate on hold is the first time in a year after 10 consecutive rises, which raised the interest rate by 3.5 percentage points since May last year in a bid to curb the skyrocketing inflation. According to the latest data from the Australian Bureau of Statistics, the monthly Consumer Price Index (CPI) indicator rose 6.8 percent in the 12 months to February, down from 7.4 percent annual growth in January and the peak of 8.4 percent last December. The RBA said the decision is in a bid to provide fur

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Türkiye's inflation eases for 3rd month to 57.68 pct

STORY: Türkiye's inflation eases for 3rd month to 57.68 pct DATELINE: Feb. 4, 2023 LENGTH: 00:01:07 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of people on the street 2. various of shops in Ankara STORYLINE: Türkiye's annual inflation eased for the third month in a row, recording a 57.68-percent growth in January, official data showed on Friday. Meanwhile, consumer prices registered a month-on-month growth of 6.65 percent in January, according to the Turkish Statistical Institute. Inflation in Türkiye hit almost 85.5 percent, a 24-year high, in October last year after rising for 17 months. The high inflation leads to a sharp decline in Turkish households' purchasing power despite the government's anti-inflation measures and salary increases. Turkish President Recep Tayyip Erdogan supports low-interest rates in the hope of boosting economic growth and employment. He recently signaled a further decrease in the central bank's interest rates in the future. "We will lower the key in

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Bank of England raises rates to 4 pct

STORY: Bank of England raises rates to 4 pct DATELINE: Feb. 3, 2023 LENGTH: 00:02:37 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of Bank of England 2. various of BoE February press conference 3. various of London streets and supermarket STORYLINE: The Bank of England (BoE) raised its benchmark interest rate on Thursday by half a percentage point to 4 percent, its highest level since autumn 2008. At its meeting on Wednesday, the BoE's Monetary Policy Committee (MPC) voted in favor of the increase by a majority of 7-2, the bank said in a statement. This is the 10th consecutive rate hike since December 2021 as the BoE continues its fight against inflation, which slowed to 10.5 percent in December 2022 from a 41-year high of 11.1 percent in October. "Global consumer price inflation remains high, although it is likely to have peaked across many advanced economies, including in the United Kingdom (UK)," the BoE said, adding that domestic inflationary pressures have been firmer than expected.

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Israeli annual CPI hits 20-year-high of 5.3 pct

STORY: Israeli annual CPI hits 20-year-high of 5.3 pct DATELINE: Jan. 17, 2023 LENGTH: 00:01:20 LOCATION: Jerusalem CATEGORY: ECONOMY SHOTLIST: 1. various of Jerusalem streets 2. various of Prof. Amir Yaron announcing rate increase in October 3. various of people in the streets 4. various of construction 5. various of people in the streets STORYLINE: The consumer price index (CPI) in Israel rose by 5.3 percent in 2022, according to data issued by the Central Bureau of Statistics on Sunday, the highest calendar-year level since 2002 when the annual inflation rate was 6.5 percent. This is a sharp rise from 2020 which recorded a deflation of 0.7 percent and 2021 when the annual CPI was 2.8 percent. Inflation is continuing to rise even though the Israeli central bank has gradually raised the base interest rate from 0.1 percent in April 2022 to 3.75 percent at present. "The global shortage of raw materials continued, and demand still exceeds supply, so even the sharp interest increase still does not

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Egypt raises interest rate to contain high inflation

STORY: Egypt raises interest rate to contain high inflation DATELINE: Dec. 23, 2022 LENGTH: 0:00:57 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1 various of the Central Bank of Egypt 2 various of an accountant counting banknotes STORYLINE: Egypt announced on Thursday to raise the interest rate by 300 basis points to contain soaring inflation. In Thursday's meeting, the Monetary Policy Committee (MPC) in Egypt decided to raise the central bank's deposit rate to 16.25 percent and lending rate to 17.25 percent. Egypt's annual urban consumer inflation rate "continued to accelerate," rising from 16.2 percent in October to 18.7 percent in November, the highest rate since December 2017 when it reached 21.9 percent. The Egyptian economy has been greatly affected by the COVID-19 pandemic and Russia-Ukraine conflict which led to increased costs of food and oil imports, given that the most populous Arab country is one of the world's largest importers of wheat, most of which came from Russia and Ukraine. Th

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Consumer loan firm Takefuji files for court-backed rehabilitation

TOKYO, Japan - Junichi Yoshida (2nd from L), president of consumer loan firm Takefuji Corp., speaks at a press conference in Tokyo on Sept. 28, 2010. Takefuji, burdened by mounting claims by customers for reimbursement of excessive interest charges, filed for bankruptcy protection with the Tokyo District Court the same day.

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Consumer lender seeks rehabilitation

TOKYO, Japan - A large portrait of the late founder Yasuo Takei is seen from outside the head office of Takefuji Corp. in Tokyo's Shinjuku Ward on Sept. 27, 2010. The major consumer lender listed on the Tokyo Stock Exchange's First Section has reportedly decided to seek court-backed rehabilitation in the face of mounting claims by borrowers for reimbursement of excessive interest charges and thinning profit margins under tightened consumer loan regulations.

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Consumer lender seeks rehabilitation

TOKYO, Japan - Reporters gather near Takefuji Corp. head office in Tokyo's Shinjuku Ward on Sept. 27, 2010. The major consumer lender listed on the Tokyo Stock Exchange's First Section has reportedly decided to seek court-backed rehabilitation in the face of mounting claims by borrowers for reimbursement of excessive interest charges and thinning profit margins under tightened consumer loan regulations.

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Consumer lender seeks rehabilitation

TOKYO, Japan - Reporters gather near Takefuji Corp. head office in Tokyo's Shinjuku Ward on Sept. 27, 2010. The major consumer lender listed on the Tokyo Stock Exchange's First Section has reportedly decided to seek court-backed rehabilitation in the face of mounting claims by borrowers for reimbursement of excessive interest charges and thinning profit margins under tightened consumer loan regulations.

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Consumer lender seeks rehabilitation

TOKYO, Japan - Photo shows Takefuji Corp. head office in Tokyo's Shinjuku Ward on Sept. 27, 2010. The major consumer lender listed on the Tokyo Stock Exchange's First Section has reportedly decided to seek court-backed rehabilitation in the face of mounting claims by borrowers for reimbursement of excessive interest charges and thinning profit margins under tightened consumer loan regulations.

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CEATEC electronics show opens with key focus on ultrathin TV

Chiba, Japan - CEATEC, Asia's largest annual consumer electronics show, opened Oct. 2 at the Makuhari Messe convention center in Chiba on the outskirts of Tokyo, amid keen interest in the extent to which flat-panel televisions will be able to become even thinner in the next few years.

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BOJ's Fukui hints at rate hikes despite near-term price falls

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui speaks at a news conference at the BOJ's headquarters in Tokyo on April 27. Fukui suggested that the central bank could raise its key short-term interest rate if long-term price trends remain firm, although consumer prices are expected to post year-on-year declines in the short run.