ECB to raise interest rates for first time since 2011
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 10 June 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
US consumer prices are set to have registered another large monthly advance, the European Central Bank has paved the way for a series of rate rises, and China is offering coronavirus vaccine insurance in an effort to win over sceptics and boost the vaccination rate.
Mentioned in this podcast:
ECB plans quarter-percentage point rate rise in July as ultra-loose policy ends
China offers Covid vaccine insurance to win over jab sceptics
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:10.0 | Good morning from the Financial Times. |
| 0:11.6 | Today is Friday, June 10th, and this is your FT News Briefing. |
| 0:18.4 | Europe Central Bankers are already planning to raise rates and play catch-up with other central |
| 0:23.3 | banks, they've sent some new signals as well. Meanwhile, US inflation looks set to rise even |
| 0:28.7 | faster. We'll preview May's numbers that are due out later today. |
| 0:32.8 | And older folks in China are scared of getting the country's COVID vaccine, |
| 0:37.1 | so Beijing is trying something new to encourage more people to get the jab. |
| 0:41.6 | A Mark Filipino, and here's the news you need to start your day. |
| 0:51.6 | US stocks fell sharply yesterday, the S&P 500 was down nearly two and a half percent. |
| 0:57.6 | Investors are bracing for new data on inflation. That's due out this morning. |
| 1:02.5 | The expectation is that the US consumer price index will show a jump of nearly three quarters |
| 1:07.5 | of a percent in May, that's according to Bloomberg, that would be faster than the April increase. |
| 1:12.6 | To find out more, I'm joined by the FT's Colby Smith. |
| 1:15.2 | Hey, Colby. |
| 1:16.0 | Hi, Mark. |
| 1:17.2 | So, Colby, this comes after two interest rate hikes from the Federal Reserve already this year. |
| 1:23.0 | Why is the inflation rate still climbing? |
| 1:26.4 | So, monetary policy works with long and variable lags that that's kind of, you know, |
| 1:31.6 | what any Fed official or economists will tell you. So, I don't think there was kind of an |
| 1:35.6 | expectation that we'd already see some immediate impact on inflation. |
... |
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