Pakistan’s debt crisis
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 13 January 2023
⏱️ 10 minutes
🧾️ Download transcript
Summary
Annual US inflation fell in December to its lowest level in more than a year, and Sweden’s state-owned mining company LKAB has said it has discovered Europe’s largest deposit of rare earth metals. Plus, the FT’s Jonathan Wheatley and Farhan Bokhari discuss Pakistan’s financial crisis.
Mentioned in this podcast:
US inflation falls to lowest level in more than a year
Pakistan secures more than $9bn of pledges for post-flood recovery
Sweden discovers biggest rare earths deposit in EU
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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. 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.
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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 |
| 0:09.8 | Good morning from the Financial Times. Today is Friday, January 13th. |
| 0:13.7 | And this is your FT News Briefing. |
| 0:18.8 | US inflation continued to cool down. |
| 0:21.7 | The Swedish company says it's discovered Europe's largest deposit of rare earth metals |
| 0:26.5 | and Pakistan is still struggling with a severe economic and financial crisis. |
| 0:32.0 | Anyone that you talk to on the streets and their number one concern right now |
| 0:38.5 | is not Pakistan's very divisive politics but it's the future of the economy. |
| 0:45.5 | I'm Mark Philippineau and here's the news you need to start your day. |
| 0:48.3 | US markets crept up a little higher yesterday after the latest US inflation report came out. |
| 1:01.6 | It, as expected, showed another slowdown in the inflation rate. |
| 1:05.8 | Annual consumer price growth in December was 6.5% that's down from the previous month. |
| 1:12.0 | This eases pressure on the federal reserve but the Fed will likely continue raising rates. |
| 1:17.6 | Here's our US economics editor Colby Smith. |
| 1:20.5 | What we have to recognize and acknowledge is that inflation is coming from a very high base. |
| 1:26.2 | So even if we're seeing some improvements on a month to month basis, |
| 1:30.6 | we're still at a level that the Fed considers far too high. |
| 1:34.9 | So Colby, the federal reserve is going to meet again in a few weeks to set interest rates. |
| 1:39.6 | What do you think might happen there? |
| 1:41.2 | What I think they're going to do come the February meeting is step down the pace of interest rate |
| 1:46.2 | increases yet again. So back in December, they moved from a string of four, 75 basis point interest |
... |
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