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US raises interest rate by 0.25% over inflation fears

The increase is the first in the US since December 2018

The increase is the first in the US since December 2018, and is aimed at controlling the country's worryingly high inflation. We get reaction to the announcement from Greg McBride, analyst at the personal finance firm Bankrate.
Britain's prime minister Boris Johnson is in the Gulf this week, asking the UAE and Saudi Arabia to pump more oil in a bid to keep prices lower. Matt Smith is from the data and analytics firm Kpler, and tells us what he thinks Mr Johnson is hoping to achieve through his visit.
Also in the programme, the US is looking to potentially tap into Venezuela's oil reserves to plug a global shortage, despite enmity between the two countries. Antero Alvarado is an energy consultant in Caracas, and tells us about the current state of his country's oil industry.
Plus, the Βι¶ΉΤΌΕΔ's Ed Butler asks what will happen next to Chelsea Football Club, after British government sanctions against its owner Roman Abramovich curtailed the club's income.

(Picture: Federal Reserve Chairman Jerome Powell. Picture credit: Getty Images.)

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27 minutes

Last on

Wed 16 Mar 2022 22:32GMT

Broadcast

  • Wed 16 Mar 2022 22:32GMT