European Central Bank has Raised its Benchmark Deposit Rate
The European Central Bank has raised its benchmark deposit rate for the first time in more than a decade by a larger-than-expected 50 basis points. Why are central bankers in Europe and the United States committing to aggressive rate increases amid fears of a possible recession? Besides soaring inflation and downgraded GDP growth projections, many parts of the world are suffering through extreme weather such as heat waves, droughts and floods. How serious are the extreme weather events experienced by hundreds of millions of people? Despite repeated warnings about the severe consequences of climate change, what concrete actions have countries taken?
Credit to : CGTN