Erdogan hopes Türkiye will attract more investors

STORY: Erdogan hopes Türkiye will attract more investors SHOOTING TIME: Dec. 22, 2023 DATELINE: Dec. 23, 2023 LENGTH: 00:01:01 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul Stock Exchange in Türkiye 2. various of Turkish President Recep Tayyip Erdogan and officials STORYLINE: President Recep Tayyip Erdogan said on Friday Türkiye would attract more investors as a result of the surge in inflation being brought under control and the decline in the country's risk premium. "Our risk premium declines. With the rise in our credit note, more foreign investors will come to our country," Erdogan told a ceremony in Istanbul. "We believe that the flow of resources to our country will accelerate as the increase in inflation is brought under control," he said. Since Erdogan's reelection as Turkish president in May, Türkiye's central bank increased the policy rate from 8.5 to 42.5 percent. On Thursday, the central bank increased its policy rate by 250 basis points to 42.5 per

Hungary's PM Orban: 2023 year of "great struggles"

STORY: Hungary's PM Orban: 2023 year of "great struggles" SHOOTING TIME: Dec. 21, 2023 DATELINE: Dec. 22, 2023 LENGTH: 0:02:04 LOCATION: Budapest CATEGORY: POLITICS SHOTLIST: 1. various of Hungarian PM's office 2. various of the press conference STORYLINE: The year 2023 was one of "great struggles," Hungary's Prime Minister Viktor Orban said in Budapest on Thursday, marking the close of the year and setting sights on 2024. At an international press conference, Orban listed the complex adversities faced during the year, including the armed conflict between Russia and Ukraine, the escalating terrorism threats, migration issues, inflation and "the influence of Brussels." He said that his government has achieved its goals in several areas: remained uninvolved in the conflicts, warded off potential terrorism threats, kept migration under control and curbed inflation. It even established an accord with Brussels despite persistent antagonism. However, he acknowledged the significant struggle Hungarian families

Turkish central bank raises policy interest rate to 35 pct

STORY: Turkish central bank raises policy interest rate to 35 pct DATELINE: Oct. 27, 2023 LENGTH: 00:01:05 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Türkiye's central bank 2. various of Turkish lira 3. various of stores STORYLINE: Türkiye's central bank increased its policy interest rate by 500 basis points from 30 percent to 35 percent on Thursday. The central bank's monetary policy committee said in a statement that it decided to continue the monetary tightening process in order to establish the disinflation course as soon as possible, anchor inflation expectations, and control the deterioration in pricing behavior. In the third quarter, inflation readings were above expectations, said the statement. "The strong course of domestic demand, the stickiness of services inflation, and the deterioration in inflation expectations continue to put upward pressure on inflation," it added. In addition, geopolitical developments have posed risks to the inflation outlook, said the ba

Indonesia's inflation rises in August

STORY: Indonesia's inflation rises in August DATELINE: Sept. 2, 2023 LENGTH: 00:02:08 LOCATION: Jakarta CATEGORY: ECONOMY SHOTLIST: 1. various of views in Jakarta 2. various of streets 3. various of vendors and shoppers STORYLINE: Indonesia's inflation rate for August rose from the previous month's 3.08 percent to 3.27 percent, both of which were within the goal range of 2 to 4 percent set by the central bank. Transportation has been one of the major drivers of inflation for months, along with food commodities, and tobacco, said Statistics Indonesia BPS Deputy for Distribution and Services Statistics Pudji Ismartini. Several initiatives to manage commodity prices, maintain supply availability, facilitate distribution, and monetary and fiscal policy, as well as the real sector, were successful in bringing inflation under control faster than the target, according to Coordinating Minister for Economic Affairs Airlangga Hartarto. The country is targeting inflation to reach a range of 1.5 to 3.5 percen

Türkiye's central bank raises interest rate to 17.5 pct

STORY: Türkiye's central bank raises interest rate to 17.5 pct DATELINE: July 21, 2023 LENGTH: 00:02:11 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of bank 2. various of streets view and people walking STORYLINE: Türkiye's central bank on Thursday raised its benchmark interest rate by 250 basis points to 17.5 percent from 15 percent in a move against high inflation and currency fluctuations. The central bank "decided to continue the monetary tightening process to establish the disinflation course as soon as possible, to anchor inflation expectations, and to control the deterioration in pricing behavior," the institution's monetary policy committee said in a statement. To improve market mechanisms and stability, the committee will gradually "simplify and improve the existing micro- and macroprudential framework" and pledges quantitative and credit tightening to support the rate hike, it added. The hike came nearly a month after the Turkish central bank hiked its main rate by 650 basis p

Turkish central bank raises interest rate to 15 pct in policy U-turn

STORY: Turkish central bank raises interest rate to 15 pct in policy U-turn DATELINE: June 23, 2023 LENGTH: 00:01:22 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of the Turkish central bank 2. various of Turkish lira 3. various of people at cashpoints in Türkiye 4. various of Turkish lira 5. various of the Turkish central bank 6. Turkish President Recep Tayyip Erdogan 7. various of Hafize Gaye Erkan, the governor of the Turkish Central Bank (courtesy of ihlas news agency) 8. Turkish President Recep Tayyip Erdogan 9. various of the Turkish central bank 10. various of Turkish lira STORYLINE: The Turkish central bank on Thursday announced a benchmark interest rate hike from 8.5 percent to 15 percent, in a policy U-turn toward monetary tightening to counter higher inflation. According to a statement from the central bank, its Monetary Policy Committee made the decision to tighten monetary conditions in order to bring down inflation, stabilize inflation expectations, and control pricing behavior. "

Vietnam's party central committee meeting sheds light on economic growth

STORY: Vietnam's party central committee meeting sheds light on economic growth DATELINE: May 19, 2023 LENGTH: 00:01:28 LOCATION: Hanoi CATEGORY: ECONOMY SHOTLIST: 1. various of the mid-term session of the 13th CPVCC in Hanoi 2. various of Nguyen Phu Trong delivering a speech STORYLINE: The mid-term session of the 13th Communist Party of the Vietnam Central Committee (CPVCC) concluded on Wednesday with a consensus on the target to ensure macro-economic stability and build an independent economy amid global headwinds. General Secretary of the CPVCC Nguyen Phu Trong highlighted that the meeting is aimed to lay out blueprints to realize resolutions adopted at the 13th National Party Congress, according to Vietnam News Agency's report on Wednesday. The meeting has also analyzed the domestic and global conditions with the target to come up with measures to ensure macro-economic stability, keep inflation under control and enhance an independent and self-reliant economy. Given current complex and unusual devel

Indonesia's central bank holds its benchmark interest rate at 5.75 pct

STORY: Indonesia's central bank holds its benchmark interest rate at 5.75 pct DATELINE: April 19, 2023 LENGTH: 00:02:41 LOCATION: Jakarta CATEGORY: ECONOMY SHOTLIST: 1. Various of press conference STORYLINE: Bank Indonesia (BI) on Tuesday decided to hold the benchmark interest rate unchanged at 5.75 percent after a two-day meeting of the Board of Governors. Governor of BI Perry Warjiyo said that this decision was part of the forward-looking monetary policy to secure the future fall in inflation. "Bank Indonesia believes that the BI 7-Day Reverse Repo Rate (BI7DRRR) of 5.75 percent is sufficient to direct core inflation under control in the range of 2 to 4 percent in the remainder of 2023," Warjiyo said in a press conference on Tuesday. The target is in sight as the country's inflation continues to decline. The inflation rate dropped to 4.97 percent year-on-year in March from 5.47 percent year-on-year in February. Xinhua News Agency correspondents reporting from Jakarta. (XHTV)

Demonstration held in Paris against high inflation, climate crisis

STORY: Demonstration held in Paris against high inflation, climate crisis DATELINE: Oct. 17, 2022 LENGTH: 00:03:10 LOCATION: Paris CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of street view in Paris 2. various of the demonstration 3. SOUNDBITE 1 (French): JEAN PAUL, Civil servant 4. SOUNDBITE 2 (French): SIMON, Manager of a private company 6. SOUNDBITE 3 (French): JACKIE, Retiree STORYLINE: Tens of thousands of people took to the street in Paris on Sunday to protest against rising inflation and the government's inaction on climate change. The demonstration was organized by La Nupes, a coalition of left-wing French political parties. SOUNDBITE 1 (French): JEAN PAUL, Civil servant "Because I find the distribution of funds to be terrible, in my opinion, it is the European Central Bank that is biased in favor of the president and the government of the republic. They are under the control of the central bank. I take part in demonstrations because I think it is shameful that the rich are too rich and the p

Israel hikes benchmark rate by 0.75 pct amid efforts to curb inflation

STORY: Israel hikes benchmark rate by 0.75 pct amid efforts to curb inflation DATELINE: Oct. 4, 2022 LENGTH: 0:01:27 LOCATION: Tel Aviv CATEGORY: ECONOMY SHOTLIST: 1. various of skyscrapers in Israel's economic center Tel Aviv 2. Governor of Israeli Central Bank Amir Yaron announces rate increase 3. Shopping mall in Tel Aviv 4. Governor of Israeli Central Bank Amir Yaron makes remarks 5. Streets view of Israel's economic center Tel Aviv STORYLINE: The Bank of Israel on Monday raised its benchmark rate by 0.75 percentage points from 2 percent to 2.75 percent. The sharp rate hike comes as Israel is trying to control its annual inflation, which fell to 4.6 percent in August from 5.2 percent in July, still well above the government target range of 1-3 percent. This is the fifth rate hike made by Israel's central bank since mid-April when the rate was as low as 0.1 percent, and the second consecutive 0.75-percent aggressive one after it did so in late August. The current basic rate is also the highe

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

New Zealand hikes official cash rate to 3 pct

STORY: New Zealand hikes official cash rate to 3 pct DATELINE: Aug. 17, 2022 LENGTH: 00:01:56 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of streets 2. various of port 3. various of supermarket 4. various of people on streets STORYLINE: The Reserve Bank of New Zealand (RBNZ)'s Monetary Policy Committee raised the Official Cash Rate (OCR) to 3 percent from 2.5 percent on Wednesday. The Committee agreed it remains appropriate to continue to tighten monetary conditions at a pace to maintain price stability and contribute to maximum sustainable employment. Core consumer price inflation remains too high and labor resources remain scarce, said the central bank in a statement. The central bank uses the OCR to control inflation, encouraging people to either spend or save. The OCR is the interest rate the RBNZ pays on settlement accounts and is reviewed seven times a year. Global consumer price inflation has continued to rise, albeit with some recent reprieve from lower global oil prices, it sa

Zimbabwe central bank introduces gold coins as store of value amid high inflation

STORY: Zimbabwe central bank introduces gold coins as store of value amid high inflation DATELINE: July 27, 2022 LENGTH: 00:02:13 LOCATION: Harare CATEGORY: ECONOMY SHOTLIST: 1. various of Reserve Bank of Zimbabwe (RBZ) governor holding the new gold coin 2. SOUNDBITE 1 (English): JOHN MANGUDYA, Governor of Reserve Bank of Zimbabwe 3. various of journalists taking photos of the gold coin 4. SOUNDBITE 2 (English): JOHN MANGUDYA, Governor of Reserve Bank of Zimbabwe 5. various of more journalists taking photos of the gold coin 6. SOUNDBITE 3 (English): JOHN MANGUDYA, Governor of Reserve Bank of Zimbabwe 7. various of more journalists and people walking outside the RBZ STORYLINE: Reserve Bank of Zimbabwe Governor John Mangudya on Monday unveiled gold coins that are expected to act as a store of value and reduce the demand for U.S. dollars as the country battles to control soaring inflation. SOUNDBITE 1 (English): JOHN MANGUDYA, Governor of Reserve Bank of Zimbabwe "The Bank has today released the first batch

ZIMBABWE-HARARE-CENTRAL BANK-GOLD COIN-INTRODUCTION

ZIMBABWE-HARARE-CENTRAL BANK-GOLD COIN-INTRODUCTION

(220726) -- HARARE, July 26, 2022 (Xinhua) -- The Reserve Bank of Zimbabwe Governor John Mangudya displays the newly introduced gold coin during a press conference in Harare, Zimbabwe, July 25, 2022. Mangudya on Monday unveiled gold coins that are expected to act as a store of value and reduce the demand for U.S. dollars as the country battles to control soaring inflation. (Photo by Shaun Jusa/Xinhua)

ZIMBABWE-HARARE-CENTRAL BANK-GOLD COIN-INTRODUCTION

ZIMBABWE-HARARE-CENTRAL BANK-GOLD COIN-INTRODUCTION

(220726) -- HARARE, July 26, 2022 (Xinhua) -- Zimbabwe's newly introduced gold coin is pictured in Harare, Zimbabwe, July 25, 2022. The Reserve Bank of Zimbabwe Governor John Mangudya on Monday unveiled gold coins that are expected to act as a store of value and reduce the demand for U.S. dollars as the country battles to control soaring inflation. (Photo by Shaun Jusa/Xinhua)

#CHINA-CPI-MAY-RISE (CN)

#CHINA-CPI-MAY-RISE (CN)

(220610) -- SHAOYANG, June 10, 2022 (Xinhua) -- Customers select vegetables at a supermarket in Chengbu Miao Autonomous County of Shaoyang, central China's Hunan Province, June 10, 2022. China's consumer price index (CPI), a main gauge of inflation, rose 2.1 percent year on year in May, the National Bureau of Statistics (NBS) said Friday. On a monthly basis, the CPI edged down 0.2 percent thanks to effective COVID-19 control and a sufficient supply of consumer goods, noted Dong Lijuan, a senior statistician with the NBS. (Photo by Yan Qinlong/Xinhua)

#CHINA-CPI-MAY-RISE (CN)

#CHINA-CPI-MAY-RISE (CN)

(220610) -- ZUNYI, June 10, 2022 (Xinhua) -- An employee pumps gasoline to a car at a gas station in Yuqing County of Zunyi, southwest China's Guizhou Province, June 10, 2022. China's consumer price index (CPI), a main gauge of inflation, rose 2.1 percent year on year in May, the National Bureau of Statistics (NBS) said Friday. On a monthly basis, the CPI edged down 0.2 percent thanks to effective COVID-19 control and a sufficient supply of consumer goods, noted Dong Lijuan, a senior statistician with the NBS. (Photo by Wang Yongjuan/Xinhua)

#CHINA-CPI-MAY-RISE (CN)

#CHINA-CPI-MAY-RISE (CN)

(220610) -- NANJING, June 10, 2022 (Xinhua) -- A customer selects vegetables at a supermarket in Nanjing, east China's Jiangsu Province, June 10, 2022. China's consumer price index (CPI), a main gauge of inflation, rose 2.1 percent year on year in May, the National Bureau of Statistics (NBS) said Friday. On a monthly basis, the CPI edged down 0.2 percent thanks to effective COVID-19 control and a sufficient supply of consumer goods, noted Dong Lijuan, a senior statistician with the NBS. (Photo by Su Yang/Xinhua)

#CHINA-CPI-MAY-RISE (CN)

#CHINA-CPI-MAY-RISE (CN)

(220610) -- NANJING, June 10, 2022 (Xinhua) -- An employee arranges vegetables at a supermarket in Nanjing, east China's Jiangsu Province, June 10, 2022. China's consumer price index (CPI), a main gauge of inflation, rose 2.1 percent year on year in May, the National Bureau of Statistics (NBS) said Friday. On a monthly basis, the CPI edged down 0.2 percent thanks to effective COVID-19 control and a sufficient supply of consumer goods, noted Dong Lijuan, a senior statistician with the NBS. (Photo by Sun Zhongnan/Xinhua)

Lopez Obrador Holds Weekly Press Conference - Mexico

Lopez Obrador Holds Weekly Press Conference - Mexico

Mexican President Andres Manuel Lopez Obrador gesticulating in his spoke during his daily news conference at National Palace on August 18, 2021 in Mexico City, Mexico. Obrador said Wednesday he supported the central bank's recent efforts to control inflation, given their importance in helping the nation's poor. Photo by Ismael Rosas/Eyepix/ABACAPRESS.COM

Lopez Obrador Holds Weekly Press Conference - Mexico

Lopez Obrador Holds Weekly Press Conference - Mexico

Mexican President Andres Manuel Lopez Obrador gesticulating in his spoke during his daily news conference at National Palace on August 18, 2021 in Mexico City, Mexico. Obrador said Wednesday he supported the central bank's recent efforts to control inflation, given their importance in helping the nation's poor. Photo by Ismael Rosas/Eyepix/ABACAPRESS.COM

Lopez Obrador Holds Weekly Press Conference - Mexico

Lopez Obrador Holds Weekly Press Conference - Mexico

Mexican President Andres Manuel Lopez Obrador gesticulating in his spoke during his daily news conference at National Palace on August 18, 2021 in Mexico City, Mexico. Obrador said Wednesday he supported the central bank's recent efforts to control inflation, given their importance in helping the nation's poor. Photo by Ismael Rosas/Eyepix/ABACAPRESS.COM

Lopez Obrador Holds Weekly Press Conference - Mexico

Lopez Obrador Holds Weekly Press Conference - Mexico

Mexican President Andres Manuel Lopez Obrador gesticulating in his spoke during his daily news conference at National Palace on August 18, 2021 in Mexico City, Mexico. Obrador said Wednesday he supported the central bank's recent efforts to control inflation, given their importance in helping the nation's poor. Photo by Ismael Rosas/Eyepix/ABACAPRESS.COM

Lopez Obrador Holds Weekly Press Conference - Mexico

Lopez Obrador Holds Weekly Press Conference - Mexico

Mexican President Andres Manuel Lopez Obrador gesticulating in his spoke during his daily news conference at National Palace on August 18, 2021 in Mexico City, Mexico. Obrador said Wednesday he supported the central bank's recent efforts to control inflation, given their importance in helping the nation's poor. Photo by Ismael Rosas/Eyepix/ABACAPRESS.COM

Lopez Obrador Holds Weekly Press Conference - Mexico

Lopez Obrador Holds Weekly Press Conference - Mexico

Mexican President Andres Manuel Lopez Obrador gesticulating in his spoke during his daily news conference at National Palace on August 18, 2021 in Mexico City, Mexico. Obrador said Wednesday he supported the central bank's recent efforts to control inflation, given their importance in helping the nation's poor. Photo by Ismael Rosas/Eyepix/ABACAPRESS.COM

Lopez Obrador Holds Weekly Press Conference - Mexico

Lopez Obrador Holds Weekly Press Conference - Mexico

Mexican President Andres Manuel Lopez Obrador gesticulating in his spoke during his daily news conference at National Palace on August 18, 2021 in Mexico City, Mexico. Obrador said Wednesday he supported the central bank's recent efforts to control inflation, given their importance in helping the nation's poor. Photo by Ismael Rosas/Eyepix/ABACAPRESS.COM

Lopez Obrador Holds Weekly Press Conference - Mexico

Lopez Obrador Holds Weekly Press Conference - Mexico

Mexican President Andres Manuel Lopez Obrador gesticulating in his spoke during his daily news conference at National Palace on August 18, 2021 in Mexico City, Mexico. Obrador said Wednesday he supported the central bank's recent efforts to control inflation, given their importance in helping the nation's poor. Photo by Ismael Rosas/Eyepix/ABACAPRESS.COM

Lopez Obrador Holds Weekly Press Conference - Mexico

Lopez Obrador Holds Weekly Press Conference - Mexico

Mexican President Andres Manuel Lopez Obrador gesticulating in his spoke during his daily news conference at National Palace on August 18, 2021 in Mexico City, Mexico. Obrador said Wednesday he supported the central bank's recent efforts to control inflation, given their importance in helping the nation's poor. Photo by Ismael Rosas/Eyepix/ABACAPRESS.COM

Lopez Obrador Holds Weekly Press Conference - Mexico

Lopez Obrador Holds Weekly Press Conference - Mexico

Mexican President Andres Manuel Lopez Obrador gesticulating in his spoke during his daily news conference at National Palace on August 18, 2021 in Mexico City, Mexico. Obrador said Wednesday he supported the central bank's recent efforts to control inflation, given their importance in helping the nation's poor. Photo by Ismael Rosas/Eyepix/ABACAPRESS.COM