China is not out of the woods yet
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 18 January 2024
⏱️ 11 minutes
🧾️ Download transcript
Summary
A top IMF official has warned that central banks need to move cautiously on cutting rates this year, BP has appointed interim boss Murray Auchincloss as its permanent chief executive, and Rishi Sunak quelled a rightwing Conservative revolt over his flagship Rwanda asylum bill. Plus, the FT’s Joe Leahy explains why China’s population decline accelerated in 2023 as its economy grew at one of the lowest rates in decades.
Mentioned in this podcast:
IMF official warns central banks against fuelling inflation with rapid rate cuts
Stocks drop as ECB and UK inflation puncture interest rate cut hopes
BP appoints interim boss Murray Auchincloss as permanent chief
Tory rebels abandon revolt over Rishi Sunak’s Rwanda bill
China’s population decline accelerates as economy reaches low growth target
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | At Aquinore. UK. Good morning from the Financial Times. Today is Thursday, January 18th, and this is your |
| 0:17.5 | F.T. News briefing. The International Monetary Fund has a stark warning for Central Banks and BP has a familiar face taking over as its permanent CEO. |
| 0:30.0 | Plus China's economy grew last year, but it's not exactly back on track. |
| 0:35.0 | We'll take a look at what needs to be done. |
| 0:38.0 | I'm Mark Filipino and here's the news you need to start your day. A top IMF official is warning that Central Banks need to be careful about cutting interest rates. |
| 1:02.0 | First Deputy Managing Director Gita Gopinoth spoke to the |
| 1:05.4 | FT and Davos. She said that inflation was going to decline more slowly than it did last |
| 1:10.5 | year and that if you cut rates people would expect more of them. |
| 1:14.7 | She said that can be counterproductive to fighting inflation. |
| 1:18.2 | Copinoth suggested that the path towards lower inflation would be quote bumpy and she's not wrong. |
| 1:23.4 | Yesterday the UK reported an unexpected rise in inflation in December |
| 1:28.2 | it's now at 4% and European Central Bank President Christine Lagarde suggested that the bank would hold rates steady until the summer. |
| 1:37.0 | BP named Murray Auchincloss as its permanent chief executive yesterday. |
| 1:48.0 | He had been serving as the oil major's interim CEO after Bernard Looney stepped down in September. |
| 1:53.0 | Here to talk to me about what Murray Auchincloss might mean for the company as Tom Wilson, |
| 1:57.2 | our natural resources editor. |
| 1:58.8 | Hi Tom. |
| 1:59.8 | Hi, Tom. Hi, Mark. |
| 2:00.8 | Okay, so we've gotten a taste of what Murray Auchincloss's leadership style looks |
| 2:04.8 | like over the past few months, but Tom, what's his history with the company? |
... |
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