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Episode details

World Service,04 May 2022,26 mins

US makes biggest interest rate rise for 22 years

World Business Report

Available for over a year

The US central bank, the Federal Reserve, has raised interest rates by 0.5% in a bid to combat rising inflation, which is currently running at 8.5%. We get analysis from our north America business correspondent Michelle Fleury. The European Union has proposed a ban on imports of Russian oil and refined fuel products. We get a sense of how this move could impact the Russian economy from Elina Ribakova, deputy chief economist at the Institute of International Finance. Also in the programme, the BBC's David Reid reports on how fast and portable genome testing is unlocking the secrets to ourselves, and the environment we live in. And Diego Maradona's infamous 'Hand of God' football shirt sells for a record £7.1 million. We assess the legacy of the footballer - and that 1986 game - with Marcela Mora y Araujo, an Argentine sports journalist based in London. (Picture: A supermarket in California. Credit: Getty Images)

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