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India's retail inflation in 12-month low in May

STORY: India's retail inflation in 12-month low in May SHOOTING TIME: File DATELINE: June 13, 2024 LENGTH: 00:01:29 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of market area 3. various of food grain STORYLINE: India's retail inflation fell to 4.75 percent in May from 4.83 percent in April, official data showed Wednesday. This was said to be the lowest in the past 12 months. Retail inflation has been under the five-percent mark for three consecutive months starting from March. "Year-on-year inflation rate based on all India Consumer Price Index (CPI) number is 4.75 percent (provisional) for the month of May 2024. Corresponding inflation rate for rural and urban is 5.28 percent and 4.15 percent, respectively," the statistical ministry said. Food inflation was 8.69 percent in May, marginally down from 8.70 percent in April. Xinhua News Agency correspondents reporting from New Delhi. (XHTV)

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Bank of Japan keeps interest rate unchanged, yen sinks below 156

STORY: Bank of Japan keeps interest rate unchanged, yen sinks below 156 SHOOTING TIME: file DATELINE: April 27, 2024 LENGTH: 00:01:37 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of Bank of Japan 2. various of city view in Tokyo 3. various of fresh food in supermarkets 4. various of city view in Tokyo STORYLINE: The Japanese central bank on Friday maintained its policy rate unchanged after wrapping up its two-day policy meeting, which sent the Japanese yen to its fresh 34-year low past the 156 line. The Bank of Japan (BOJ) decided to guide short-term interest rates in a range of zero and 0.1 percent, a month after it ended the negative interest rate policy in its first rate hike in 17 years. The announcement weakened the country's currency against the U.S. dollar to the lowest level since May 1990, raising the risk of forex intervention by Japanese authorities. The BOJ, which also maintained its policy regarding government bond buying, said the country's core inflation, which excludes volatile

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Italy's inflation remains at 0.8 pct in February

STORY: Italy's inflation remains at 0.8 pct in February SHOOTING TIME: March 15, 2024 DATELINE: March 16, 2024 LENGTH: 00:00:58 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of National Statistics Institute (ISTAT) in Italy 2. various of streets in Rome STORYLINE: Italy's inflation rate remained stable at 0.8 percent in February, the same level as in January, the national statistics agency said on Friday. Data released by the National Statistics Institute (ISTAT) showed Italy's consumer price index rose by 0.1 percent in month-on-month terms in February. The index increased by 0.3 percent in January compared to December 2023. ISTAT attributed the low inflation rate to a slowdown in price increases for processed and unprocessed food, transportation services and recreational activities. Regulated and unregulated energy products saw prices drop compared to a year earlier, though by a smaller margin than in January. The Italian government introduced a series of anti-inflation measures betwe

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Turkish currency plunges to new low against USD amid high inflation

STORY: Turkish currency plunges to new low against USD amid high inflation SHOOTING TIME: Feb. 16, 2024 DATELINE: Feb. 17, 2024 LENGTH: 00:01:10 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. Murat Tufan, an analyst with Turkish broadcaster Ekoturk speaking in an interview 3. various of Turkish Minister of Treasury and Finance Mehmet Simsek speaking at the Türkiye-Saudi Arabia Investment and Business Forum in Istanbul, Türkiye 4. various of Turkish Central Bank 5. various of Fatih Karahan, Turkish Central Bank chief STORYLINE: The Turkish currency plunged to a new low on Friday against the U.S. dollar, losing 0.3 percent of its value in 24 hours while the country has been trying to curb high inflation. The lira stood at 30.83 against the dollar at 4:00 p.m. local time (1300 GMT) after hitting 30.87. Murat Tufan, an analyst with Turkish broadcaster Ekoturk, told Xinhua that for the lira to appreciate, inflation needs to be seriously curbed in Türkiy

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Italy's inflation remains low despite lifting of price controls

STORY: Italy's inflation remains low despite lifting of price controls SHOOTING TIME: Feb. 2, 2024 DATELINE: Feb. 3, 2024 LENGTH: 00:00:37 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of markets in Rome 2. various of gas stations in Rome STORYLINE: Italy's annual inflation rate rose to 0.8 percent in January, up from 0.6 percent in December, according to Italy's National Statistics Institute (ISTAT) on Thursday. The relatively low inflation rate in January is significant given that the month is the first since the price controls in Italy's "anti-inflation quarter" expired. The initiative artificially reduced consumer prices on a basket of basic necessities over the final three months of 2023. The government reserved the right to continue the terms of the "anti-inflation quarter" into this year but it chose not to do so. ISTAT said the main factors pushing prices in the country higher in January were transportation-related services which climbed by 4.3 percent compared to 3.7 percent in Dec

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Australian inflation falls to 2-year low

STORY: Australian inflation falls to 2-year low SHOOTING TIME: Feb. 2, 2024 DATELINE: Feb. 2, 2024 LENGTH: 00:01:10 LOCATION: Canberra CATEGORY: ECONOMY SHOTLIST: 1. various of Australians shopping at supermarkets STORYLINE: Australia's rate of inflation fell to its lowest level in over two years at the end of 2023, official figures have revealed. According to data published by the Australian Bureau of Statistics (ABS) this week, the consumer price index (CPI) - Australia's headline measure of inflation - rose by 0.6 percent in the fourth quarter of 2023 spanning from the start of October to the end of December - half the 1.2 percent rise in the previous three-month period. It marks the lowest quarterly CPI rise since the first quarter of 2021. In the 12 months to the end of December, the CPI rose by 4.1 percent, the ABS said, down from a peak annual rise of 7.8 percent in the year to December 2022. The Australian Broadcasting Corporation (ABC) reported on Thursday that economists had forec

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Turkish currency dips against USD after fresh interest rate hike

STORY: Turkish currency dips against USD after fresh interest rate hike SHOOTING TIME: Jan. 26, 2024 DATELINE: Jan. 27, 2024 LENGTH: 00:01:21 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of an exchange office in Istanbul 3. various of the Turkish Central Bank and Turkish lira 4. various of Murat Tufan, an analyst with Turkish broadcaster Ekoturk (file) 5. various of the Turkish Central Bank, Turkish lira 6. various of people walking on the street in Istanbul, Türkiye STORYLINE: The Turkish currency lira hit an all-time low against the U.S. dollar on Friday, one day after the central bank raised its key interest rate by 250 basis points to 45 percent. After testing 30.64 liras, one dollar stood at 30.32 liras at 11:10 a.m. local time (0810 GMT). During last June to December, the Turkish central bank raised interest rates from 8.5 percent to 42.5 percent to tame persistent inflation. According to the official data announced last Decembe

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Turkish currency hits historic low against U.S. dollar

STORY: Turkish currency hits historic low against U.S. dollar SHOOTING TIME: Jan. 11, 2024 DATELINE: Jan. 12, 2024 LENGTH: 00:01:10 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of exchange office 3. various of Turkish Central Bank, Turkish lira 4. various of people walking on street in Istanbul, Türkiye STORYLINE: The Turkish currency hit an all-time low against the U.S. dollar on Thursday, trading at over 30 liras per dollar. One dollar was traded at 30.01 liras at 10:25 a.m. local time (0725 GMT). The Turkish currency has lost over 37 percent of its value since last year and depreciated by 1.6 percent against the dollar in the first 10 days of 2024. Murat Sagman, an economist and portfolio manager, recalled that it was only in 2013 that a dollar was worth 2 liras. Economist Duran Bulbul warned that the dollar exchange rate may move towards 40 liras soon, under such challenges as high inflation. "The greenback will first smash th

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Australian inflation falls to near 2-year low

STORY: Australian inflation falls to near 2-year low SHOOTING DATE: Jan. 10, 2024 DATELINE: Jan. 11, 2024 LENGTH: 00:01:08 LOCATION: Canberra CATEGORY: ECONOMY SHOTLIST: 1. various of supermarket STORYLINE: Australia's rate of inflation has fallen to its lowest level in almost two years. According to official data published by the Australian Bureau of Statistics (ABS) on Wednesday, the consumer price index (CPI), Australia's headline measure of inflation, rose by 4.3 percent in the 12 months to the end of November 2023. It marks a fall from a 4.9 percent rise in the 12 months to the end of October 2023 and the slowest annual rate of price rises since January 2022. State media the Australian Broadcasting Corporation (ABC) reported that economists were expecting inflation to come in at 4.4 percent over the year to November. Treasurer Jim Chalmers welcomed the data but said that inflation is still higher than the government would like. "What this number shows is that the government's polic

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Turkish currency hits record low against U.S. dollar

STORY: Turkish currency hits record low against U.S. dollar SHOOTING TIME: Jan. 2, 2024 DATELINE: Jan. 3, 2024 LENGTH: 00:01:03 LOCATION: ISTANBUL, Turkiye CATEGORY: ECONOMY SHOTLIST: 1. various of the Turkiye's central bank, Turkish lira 2. various of the Istanbul city in Turkiye 3. various of the exchange office, clerk in exchange office counting U.S. dollars in Istanbul, Turkiye 4. various of the Istanbul Stock Exchange in Turkiye STORYLINE: The Turkish currency hit an all-time low against the U.S. dollar on Tuesday, trading at over 29.70 liras per dollar. After seeing 29.77 at 12:58 p.m. local time (0958 GMT) against the greenback, the lira stood at 29.74, losing around 37 percent of its value since last year. Alaattin Aktas, an economist, told Cumhuriyet Daily that the dollar exchange rate is expected to increase to around 40 liras per dollar in 2024. "If the dollar exchange rate is adjusted according to the requirements of the economy, it will increase by the rate of inflation and reach a

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U.S. Fed leaves interest rates unchanged as inflation cools, signaling end to rate hiking cycle

STORY: U.S. Fed leaves interest rates unchanged as inflation cools, signaling end to rate hiking cycle SHOOTING TIME: Dec. 13, 2023 DATELINE: Dec. 14, 2023 LENGTH: 0:00:36 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 inflation continued to cool, signaling an end to its rate hiking cycle and possible rate cuts next year. "Recent indicators suggest that growth of economic activity has slowed from its strong pace in the third quarter," the Federal Open Market Committee (FOMC) said in a statement after concluding a two-day policy meeting, the last in 2023. "Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated," the committee said. The central bank noted that tighter financial and credit conditions for households and

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U.S. Fed leaves interest rates unchanged amid surging Treasury yields

STORY: U.S. Fed leaves interest rates unchanged amid surging Treasury yields SHOOTING TIME: Nov. 1, 2023 DATELINE: Nov. 2, 2023 LENGTH: 00:01:14 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference 2. various of speech by Fed Chairman Jerome Powell STORYLINE: The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25-5.5 percent, as yields on long-term U.S. Treasury bonds have spiked in recent months. "Recent indicators suggest that economic activity expanded at a strong pace in the third quarter. Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low. Inflation remains elevated," the Federal Open Market Committee (FOMC) said in a statement after concluding a two-day policy meeting. Wednesday's decision comes as the 10-year Treasury yield has risen swiftly, by nearly one percentage point, since Fed officials last raised rates in July, recently hitting 5 percent for the first ti

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Italy marks traditional Ferragosto holiday amid record numbers of tourists

STORY: Italy marks traditional Ferragosto holiday amid record numbers of tourists DATELINE: Aug. 16, 2023 LENGTH: 00:00:47 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of tourists in Rome STORYLINE: Italy's traditional Ferragosto holiday, the official peak of the summer holiday season, kicked off Tuesday amid record numbers of tourists. The Italian tourism sector is recovering from its low point during the COVID-19 pandemic. Media reports said that international tourist arrivals this year are expected to surpass an all-time record of around 96 million in 2019. In addition, statistics showed that due to the slow economic growth and high inflation, more Italians are choosing to stay in Italy for their holidays rather than traveling abroad. The most recent data from Italy's National Institute of Statistics showed the Italian economy contracted by 0.3 percent in the second quarter, while prices were 5.9 percent higher in July than they were a year earlier. Xinhua News Agency correspondents reporti

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Turkish lira falls to new low against greenback

STORY: Turkish lira falls to new low against greenback DATELINE: Aug. 8, 2023 LENGTH: 00:01:31 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of exchange office in Istanbul 3. various of Türkiye's central bank 4. SOUNDBITE (Turkish): MURAT TUFAN, Analyst with the Ekoturk broadcaster STORYLINE: The Turkish currency hit a fresh low against the U.S. dollar on Monday, trading over 27 liras per dollar. After seeing 27.32 in the early morning against the greenback, the lira stood at around 27 in the afternoon, losing about 30 percent of its value since the beginning of this year. The currency tested over 30 thresholds against the euro in the morning and later dropped to 29.68. Türkiye's central bank raised the policy rate from 8.5 percent to 15 percent in June and further to 17.5 percent in July. However, markets expect more aggressive interest rate hikes to better cope with the devaluation of the currency and the rising inflation rate. The country's

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Turkish Lira Hits Record Low

Illustration of Turkish Lira, Turkish Lira hits record low of 27 Lira to the US Dollar, in July 2023. Turkish inflation soared to 9.49 percent month-on-month in July, official data showed on Thursday, rising slightly more than forecast and driven by various tax hikes and the lira’s sharp depreciation. Photo by Abdurrahman Antakyali/Depo Photos/ABACAPRESS.COM

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Turkish Lira Hits Record Low

Illustration of Turkish Lira, Turkish Lira hits record low of 27 Lira to the US Dollar, in July 2023. Turkish inflation soared to 9.49 percent month-on-month in July, official data showed on Thursday, rising slightly more than forecast and driven by various tax hikes and the lira’s sharp depreciation. Photo by Abdurrahman Antakyali/Depo Photos/ABACAPRESS.COM

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Turkish Lira Hits Record Low

Illustration of Turkish Lira, Turkish Lira hits record low of 27 Lira to the US Dollar, in July 2023. Turkish inflation soared to 9.49 percent month-on-month in July, official data showed on Thursday, rising slightly more than forecast and driven by various tax hikes and the lira’s sharp depreciation. Photo by Abdurrahman Antakyali/Depo Photos/ABACAPRESS.COM

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Turkish Lira Hits Record Low

Illustration of Turkish Lira, Turkish Lira hits record low of 27 Lira to the US Dollar, in July 2023. Turkish inflation soared to 9.49 percent month-on-month in July, official data showed on Thursday, rising slightly more than forecast and driven by various tax hikes and the lira’s sharp depreciation. Photo by Abdurrahman Antakyali/Depo Photos/ABACAPRESS.COM

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Turkish Lira Hits Record Low

Illustration of Turkish Lira, Turkish Lira hits record low of 27 Lira to the US Dollar, in July 2023. Turkish inflation soared to 9.49 percent month-on-month in July, official data showed on Thursday, rising slightly more than forecast and driven by various tax hikes and the lira’s sharp depreciation. Photo by Abdurrahman Antakyali/Depo Photos/ABACAPRESS.COM

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Turkish Lira Hits Record Low

Illustration of Turkish Lira, Turkish Lira hits record low of 27 Lira to the US Dollar, in July 2023. Turkish inflation soared to 9.49 percent month-on-month in July, official data showed on Thursday, rising slightly more than forecast and driven by various tax hikes and the lira’s sharp depreciation. Photo by Abdurrahman Antakyali/Depo Photos/ABACAPRESS.COM

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Turkish Lira Hits Record Low

Illustration of Turkish Lira, Turkish Lira hits record low of 27 Lira to the US Dollar, in July 2023. Turkish inflation soared to 9.49 percent month-on-month in July, official data showed on Thursday, rising slightly more than forecast and driven by various tax hikes and the lira’s sharp depreciation. Photo by Abdurrahman Antakyali/Depo Photos/ABACAPRESS.COM

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Turkish Lira Hits Record Low

Illustration of Turkish Lira, Turkish Lira hits record low of 27 Lira to the US Dollar, in July 2023. Turkish inflation soared to 9.49 percent month-on-month in July, official data showed on Thursday, rising slightly more than forecast and driven by various tax hikes and the lira’s sharp depreciation. Photo by Abdurrahman Antakyali/Depo Photos/ABACAPRESS.COM

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U.S. Fed hikes interest rates by 25 basis points

STORY: U.S. Fed hikes interest rates by 25 basis points DATELINE: July 27, 2023 LENGTH: 00:01:31 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference 2. various of exterior of the U.S. Federal Reserve STORYLINE: The U.S. Federal Reserve on Wednesday raised its benchmark interest rates by 25 basis points to the range of 5.25 to 5.5 percent, the highest level in over two decades, as it continues to ramp up its fight against inflation. It is the 11th interest rate increase since the Fed began its aggressive rate hiking campaign in March 2022, taking the federal funds rate to its highest level since early 2001. "Recent indicators suggest that economic activity has been expanding at a moderate pace. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated," the Federal Open Market Committee (FOMC), the Fed's policy-setting body, said in a statement on Wednesday afternoon, after a two-day policy meeting. The FOMC "s

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Turkey's Lira Hits New Record Low

Turkish lira banknotes are seen in this illustration taken in Ankara, Turkey, on June 27, 2023. The Turkish lira slid as much as 3% to a record low against the dollar on Monday, after the central bank took steps to simplify policy, while an official and bankers said the bank had stopped using its reserves to support the lira. The lira weakened as far as 26.05 against the U.S. currency, surpassing last week's all-time low of 25.74. It is down 28% so far this year, largely after the re-election in late May of President Tayyip Erdogan who has since moved to backtrack on his years of unorthodox economic policy including slashing rates despite soaring inflation. Photo by Efekan Akyuz/Depo Photos/ABACAPRESS.COM

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Turkey's Lira Hits New Record Low

Turkish lira banknotes are seen in this illustration taken in Ankara, Turkey, on June 27, 2023. The Turkish lira slid as much as 3% to a record low against the dollar on Monday, after the central bank took steps to simplify policy, while an official and bankers said the bank had stopped using its reserves to support the lira. The lira weakened as far as 26.05 against the U.S. currency, surpassing last week's all-time low of 25.74. It is down 28% so far this year, largely after the re-election in late May of President Tayyip Erdogan who has since moved to backtrack on his years of unorthodox economic policy including slashing rates despite soaring inflation. Photo by Efekan Akyuz/Depo Photos/ABACAPRESS.COM

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Turkey's Lira Hits New Record Low

Turkish lira banknotes are seen in this illustration taken in Ankara, Turkey, on June 27, 2023. The Turkish lira slid as much as 3% to a record low against the dollar on Monday, after the central bank took steps to simplify policy, while an official and bankers said the bank had stopped using its reserves to support the lira. The lira weakened as far as 26.05 against the U.S. currency, surpassing last week's all-time low of 25.74. It is down 28% so far this year, largely after the re-election in late May of President Tayyip Erdogan who has since moved to backtrack on his years of unorthodox economic policy including slashing rates despite soaring inflation. Photo by Efekan Akyuz/Depo Photos/ABACAPRESS.COM

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Turkey's Lira Hits New Record Low

Turkish lira banknotes are seen in this illustration taken in Ankara, Turkey, on June 27, 2023. The Turkish lira slid as much as 3% to a record low against the dollar on Monday, after the central bank took steps to simplify policy, while an official and bankers said the bank had stopped using its reserves to support the lira. The lira weakened as far as 26.05 against the U.S. currency, surpassing last week's all-time low of 25.74. It is down 28% so far this year, largely after the re-election in late May of President Tayyip Erdogan who has since moved to backtrack on his years of unorthodox economic policy including slashing rates despite soaring inflation. Photo by Efekan Akyuz/Depo Photos/ABACAPRESS.COM

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Turkey's Lira Hits New Record Low

Turkish lira banknotes are seen in this illustration taken in Ankara, Turkey, on June 27, 2023. The Turkish lira slid as much as 3% to a record low against the dollar on Monday, after the central bank took steps to simplify policy, while an official and bankers said the bank had stopped using its reserves to support the lira. The lira weakened as far as 26.05 against the U.S. currency, surpassing last week's all-time low of 25.74. It is down 28% so far this year, largely after the re-election in late May of President Tayyip Erdogan who has since moved to backtrack on his years of unorthodox economic policy including slashing rates despite soaring inflation. Photo by Efekan Akyuz/Depo Photos/ABACAPRESS.COM

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Turkey's Lira Hits New Record Low

Turkish lira banknotes are seen in this illustration taken in Ankara, Turkey, on June 27, 2023. The Turkish lira slid as much as 3% to a record low against the dollar on Monday, after the central bank took steps to simplify policy, while an official and bankers said the bank had stopped using its reserves to support the lira. The lira weakened as far as 26.05 against the U.S. currency, surpassing last week's all-time low of 25.74. It is down 28% so far this year, largely after the re-election in late May of President Tayyip Erdogan who has since moved to backtrack on his years of unorthodox economic policy including slashing rates despite soaring inflation. Photo by Efekan Akyuz/Depo Photos/ABACAPRESS.COM

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Turkey's Lira Hits New Record Low

Turkish lira banknotes are seen in this illustration taken in Ankara, Turkey, on June 27, 2023. The Turkish lira slid as much as 3% to a record low against the dollar on Monday, after the central bank took steps to simplify policy, while an official and bankers said the bank had stopped using its reserves to support the lira. The lira weakened as far as 26.05 against the U.S. currency, surpassing last week's all-time low of 25.74. It is down 28% so far this year, largely after the re-election in late May of President Tayyip Erdogan who has since moved to backtrack on his years of unorthodox economic policy including slashing rates despite soaring inflation. Photo by Efekan Akyuz/Depo Photos/ABACAPRESS.COM

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Russia maintains economic stability despite challenges: Putin

STORY: Russia maintains economic stability despite challenges: Putin DATELINE: June 18, 2023 LENGTH: 00:01:12 LOCATION: ST. PETERSBURG, Russia CATEGORY: POLITICS SHOTLIST: 1. various of Russian President Putin addressing a plenary session of the 26th St. Petersburg International Economic Forum 2. various of the audience STORYLINE: Russia has successfully maintained economic stability in the face of "unprecedented challenges," President Vladimir Putin said on Friday. "Positive macroeconomic trends are gaining momentum and becoming increasingly apparent," Putin said during a plenary session of the 26th St. Petersburg International Economic Forum. Russia's GDP could achieve a growth rate of about 1.5 percent to 2 percent this year, which will enable the country to retain its place among the world's leading economies, he said. Inflation stays close to a historical low of 2.9 percent and unemployment stands at a record low of 3.3 percent, according to the Russian leader. While many foreign brand

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Australian central bank lifts cash rate to 4.1 pct as high inflation bites

STORY: Australian central bank lifts cash rate to 4.1 pct as high inflation bites DATELINE: June 7, 2023 LENGTH: 00:01:15 LOCATION: SYDNEY, Australia CATEGORY: ECONOMY SHOTLIST: 1. various of the Reserve Bank of Australia 2. various of street views in Sydney, Australia 3. various of supermarket views in Sydney, Australia 4. various of banks in Sydney, Australia 5. various of the Reserve Bank of Australia STORYLINE: The Reserve Bank of Australia (RBA) on Tuesday decided to increase the cash rate target by 25 basis points to 4.10 percent, with the interest rate paid on Exchange Settlement balances also up by 25 basis points to 4 percent. This marked the fourth rate hike so far this year and also the 12th jump since the central bank started tightening the monetary policy from a record low of 0.1 percent in May last year. After a meeting of the Bank Board held on Tuesday, RBA governor Philip Lowe said in a statement that inflation in Australia has passed its peak, but 7 percent is still too high and it will

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Turkish lira sinks to record low against USD as presidential poll heads to runoff

STORY: Turkish lira sinks to record low against USD as presidential poll heads to runoff DATELINE: May 17, 2023 LENGTH: 00:01:56 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of Turkish citizens vote in the ballot boxes 3. various of people shopping in supermarket 4. Borsa Istanbul Stock Exchange STORYLINE: The Turkish lira hit a record low of 19.70 against the U.S. dollar on Tuesday as the presidential election is heading to a runoff on May 28 after Sunday's inconclusive vote. In the open market, the exchange rate went as high as 22 liras per dollar on Monday before falling back to 20.25 on Tuesday. Turkish people have long been suffering high living costs triggered by a soaring inflation rate, which hit a 24-year high of 85.5 percent in October of last year before falling back to 43.68 percent in April. Turkish President Recep Tayyip Erdogan has been employing unorthodox policies such as lowering interest rates, claiming such policies

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India's retail inflation drops to 18-month low in April

STORY: India's retail inflation drops to 18-month low in April DATELINE: May 13, 2023 LENGTH: 00:01:39 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. Shots of India gate 2. Shots of wholesale market 3. Shots of food items 4. Shots of retail shops 5. Shots of traffic STORYLINE: India's retail inflation in April was recorded at 4.7 percent, the lowest in the past 18 months, official data showed on Friday. Retail inflation dropped from 5.66 percent in March, and 6.44 percent in February. The data was collected from selected 1,114 urban markets and 1,181 villages covering all states through personal visits by field staff of the field operations division of the National Statistical Office. The office collected prices from 99.83 percent villages and 98.56 percent urban markets. Retail inflation in rural areas was recorded at 4.68 percent last month, while in urban areas it stood at 4.85 percent. Xinhua News Agency correspondents reporting from New Delhi. (XHTV)

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Japan's wholesale prices increase 7.2 pct in March

STORY: Japan's wholesale prices increase 7.2 pct in March DATELINE: April 13, 2023 LENGTH: 00:00:58 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of factories in Japan 2. various of port 3. various of city views in Tokyo STORYLINE: Japan's wholesale price inflation increased in March from a year earlier, although the pace of increase slowed for a third successive month, the Bank of Japan (BOJ) said Wednesday. According to the central bank, wholesale prices in Japan rose 7.2 percent in March from a year earlier, as raw material prices and the yen's weaker tone continue to weigh. The corporate goods price index (CGPI), a gauge of prices for goods and services charged by companies to each other, came on the heels of an 8.3 percent increase booked in February, the data showed, with the latest reading coming in line with economists' expectations. Unlike other major central banks, the BOJ has steadfastly stuck to its pledge of maintaining its ultra-low interest rate policy despite a widening

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India's retail inflation eases to 15-month low in March

STORY: India's retail inflation eases to 15-month low in March DATELINE: April 13, 2023 LENGTH: 00:01:31 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of food grain wholesale market 3. various of food grains 4. various of vegetable market 5. various of roads STORYLINE: India's retail inflation eased to a 15-month low at 5.66 percent in March, data released by the Ministry of Statistics and Program Implementation (MoSPI) showed on Monday. "The inflation based on Consumer Price Index (CPI) in March 2023 was 5.66 percent," the government data said. "It was 6.44 percent in February." The food inflation also eased to 4.79 percent in March, as against 5.95 percent in February and 7.68 percent in the year-ago period, the data showed. The fall in the rate of retail inflation is attributed mainly to a decline in the rate of rise in prices of essential commodities like vegetables, meat, fish, and oil, among others. Data from MoSPI showed that inflation eased to 5.51 percent

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Turkish currency breaks record low threshold against U.S. dollar

STORY: Turkish currency breaks record low threshold against U.S. dollar DATELINE: March 17, 2023 LENGTH: 00:01:46 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of exchange office 3. various of Turkey's central bank 4. various of people walking on the street 5. various of Murat Tufan, an analyst with Turkish broadcaster Ekoturk STORYLINE: The Turkish currency sank to a record low against the U.S. dollar on Thursday, trading at over 19 Turkish Lira amid local and global uncertainties. After surpassing the resistance level of 19, one dollar stood at 19.01 liras at 2:00 p.m. local time (1100 GMT). The currency has lost about 70 percent of its value against the greenback since the beginning of 2022. Turkish people have long been struggling against rising living costs triggered by a high inflation rate, which hit a 24-year high of 85.51 percent in October 2022. The inflation stood at 55.18 percent in February, but the actual cost of living experience

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Spotlight on "two sessions": Maintaining low inflation

STORY: Spotlight on "two sessions": Maintaining low inflation DATELINE: March 11, 2023 LENGTH: 00:03:25 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of "two sessions" 2. various of China 3. STANDUP 1 (English): HUANG AIPING, Xinhua correspondent 4. SOUNDBITE 1 (Chinese): TIAN XUAN, NPC Deputy, Vice-president of Tsinghua University PBC School of Finance 5. various of China 6. SOUNDBITE 2 (English): SELCUK COLAKOGLU, Director of the Ankara-based Turkish Center for Asia-Pacific Studies 7. SOUNDBITE 3 (English): FAHEEM SARDAR, Senior Policy Specialist at Strategic Policy Planning Cell, National Security Division of Prime Minister's Office of Government of Pakistan 8. SOUNDBITE 4 (English): CHARLES ONUNAIJU, Director, center for China studies, Nigeria 9. STANDUP 2 (English): HUANG AIPING, Xinhua correspondent 10. various of China 11. SOUNDBITE 5 (English): X.N. IRAKI, Professor of Economics at the University of Nairobi 12. SOUNDBITE 6 (English): HUDA AL-MALLAH, Director of the International Center for

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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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Ex-White House economist cautions against early BOJ policy shift

TOKYO, Japan - Former top White House economist Glenn Hubbard speaks during an interview with Japanese media organizations in Tokyo on March 7. He cautioned against an imminent end to the Bank of Japan's unorthodox ultra-easy monetary policy, saying Japanese inflation is still ''dangerously low.''

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Miyazawa meets Ginandjar

Japan's Finance Minister Kiichi Miyazawa (L) meets Ginandjar Kartasasmita, Indonesia's coordinating minister for economy, finance and industry, in Tokyo on Oct. 30. Ginandjar said he is sure his country's economy will hit the bottom in 1999 and begin to recover in 2000 in view of the recent stability of its currency and low inflation. Ginandjar, making a two-day visit to Japan, called on Tokyo to help Indonesia improve its infrastructure under a new plan to spend 30 billion dollars to support troubled Asian economies.

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Turks turn to second-hand goods amid economic woes, soaring inflation

STORY: Turks turn to second-hand goods amid economic woes, soaring inflation DATELINE: Dec. 9, 2022 LENGTH: 00:04:10 LOCATION: Ankara CATEGORY: SOCIETY SHOTLIST: 1. various of the old flea market at Itfaiye Square in the Ulus district of the Turkish capital Ankara 2. SOUNDBITE 1 (Turkish): MUKERREM KORKMAZ, Head of the second-hand goods sellers chamber 3. SOUNDBITE 2 (Turkish): NIHAT ERCAN, Shop owner at Itfaiye Square STORYLINE: Buying and selling second-hand goods has become popular in Türkiye as consumers are looking for affordable used products amid the country's economic woes and soaring inflation. At the decades-old flea market at Itfaiye Square in the Ulus district of Türkiye's capital Ankara, a multitude of shops now offer bargains such as used clothes, home appliances and furniture for low-income citizens roaming for the most essential products they need. SOUNDBITE 1 (Turkish): MUKERREM KORKMAZ, Head of the second-hand goods sellers chamber "You can buy and sell all kinds of products here in

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Greece's "household basket" of low-priced basic goods beneficial to consumers: minister

STORY: Greece's "household basket" of low-priced basic goods beneficial to consumers: minister DATELINE: Nov. 25, 2022 LENGTH: 00:01:47 LOCATION: Athens CATEGORY: ECONOMY SHOTLIST: 1. various of a supermarket 2. various of Adonis Georgiadis, Greece's minister of Development and Investments 3. various of a supermarket STORYLINE: The "household basket" measure of lower-priced staple goods launched by the Greek government in early November to cushion the impact of inflation has proven beneficial to consumers, Development and Investments Minister Adonis Georgiadis said on Thursday. "Stable prices in an environment with about 10 percent inflation rate is already a very significant contribution," he told journalists during a visit to a store of one of the supermarket chains participating in the initiative in central Athens. "We said it would be a difficult winter, but we are doing everything we can to make it easier for the public," he said. Under an agreement with the government, Greece's major supermarket c

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Europe's energy crisis may last beyond winter

STORY: Europe's energy crisis may last beyond winter DATELINE: Nov. 21, 2022 LENGTH: 0:01:52 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE (English): ZHOU XIAOTIAN, Xinhua correspondent 2. various of energy-intensive industries in Europe 3. various of streets and shops in Europe STORYLINE: SOUNDBITE (English): ZHOU XIAOTIAN, Xinhua correspondent "The severe economic impacts of the energy crisis are being felt in almost all energy sectors in Europe, and the problems are bound to remain until the conflict between Russia and Ukraine is resolved. The crisis in Ukraine has sent energy prices surging, which in turn pushed up inflation rates and disrupted international supply chains. European countries are taking steps to confront the near-term risks from energy-related impacts. They are strengthening natural gas storage capacities and providing economic relief for low-income families and energy-intensive industries." Recently, the European Commission predicted that the 27-nation European Union (EU) wo

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UK retail sales fall, consumer confidence nears record low

STORY: UK retail sales fall, consumer confidence nears record low DATELINE: Oct. 25, 2022 LENGTH: 00:01:01 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. STANDUP (English): ZHAO XIUZHI, Xinhua correspondent 2. various of UK STORYLINE: STANDUP (English): ZHAO XIUZHI, Xinhua correspondent "Retail sales have been falling, and consumer confidence has hit record low levels in the United Kingdom (UK), due to the country's persistently high inflation rate. Data showed retail sales continued to fall in September after a weak August, and consumers are now buying less than before the pandemic. The volume of retail sales fell in all the main sectors by 1.4 percent in September. Continued price pressures have made British consumers to be more conscious about spending. And also, the market research company GfK has said, its consumer confidence index for the UK in October stood at minus 47. The biggest danger by far is inflation. Pushed up by rising food prices, UK inflation hit 10.1 percent in September, returnin

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Türkiye's exports up by 9.2 pct in September

STORY: Türkiye's exports up by 9.2 pct in September DATELINE: Oct. 5, 2022 LENGTH: 0:00:45 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of cargo in port STORYLINE: Türkiye's exports increased by 9.2 percent year on year to 22.6 billion U.S. dollars in September, Trade Minister Mehmet Mus announced Tuesday. "This is the highest September export figure. Thus, we reached the highest monthly export value in the first nine months of 2022," Mus tweeted. According to data released by the Trade Ministry, Türkiye's imports grew by 41.5 percent to 33 billion U.S. dollars in September, leading to a 298.3-percent increase in the trade deficit compared to the same month last year. Germany, the United States, and Iraq were the top three importers of Turkish goods in September. Last year, the Turkish government announced an economic model that pursues a current account surplus through higher exports and low-interest rates, despite rising inflation and a depreciation in the local currency. The country's fo

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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

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Türkiye cuts interest rate for 2nd month despite raging inflation

STORY: Türkiye cuts interest rate for 2nd month despite raging inflation DATELINE: Sept. 23, 2022 LENGTH: 00:01:00 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of the Turkish central bank 2. various of Lira 3. various of people walking on the street STORYLINE: The Turkish central bank on Thursday cut its benchmark rate for the second month in a row from 13 percent to 12 percent despite inflation running at a two-decade high. Financial conditions remain supportive to preserve the growth momentum in industrial production and the positive trend in employment in a period of increasing uncertainties regarding global growth as well as escalating geopolitical risk, the central bank's Monetary Policy Committee said in a statement. In the aftermath of the central bank's rate-cut decision, the Turkish lira fell to a new record low of 18.42 against the U.S. dollar. Türkiye's annual inflation hit 80.21 percent in August, the highest in 24 years. Turkish President Recep Tayyip Erdogan is an advocate

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SWEDEN-STOCKHOLM-KRONA-USD-RATE

(220923) -- SWEDEN, Sept. 23, 2022 (Xinhua) -- Swedish krona notes and U.S. dollar notes are pictured in Stockholm, Sweden, Sept. 22, 2022. The Swedish krona fell to a historic low against the U.S. dollar on Thursday. For a brief, the krona traded at 0.090 dollars, its lowest ever, against the backdrop of staggering inflation and a string of domestic and international rate hikes, TT news agency reported. (Xinhua/Fu Yiming)

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TÜRKIYE-ANKARA-INTEREST RATE-CUT

(220922) -- ANKARA, Sept. 22, 2022 (Xinhua) -- A man exchanges money at an exchange office in Ankara, Türkiye, on Sept. 22, 2022. The Turkish central bank on Thursday cut its benchmark rate for the second month in a row from 13 percent to 12 percent despite inflation running at a two-decade high. In the aftermath of the central bank's rate-cut decision, the Turkish lira fell to a new record low of 18.42 against the U.S. dollar. (Photo by Mustafa Kaya/Xinhua)