ECB to devise new tool to help indebted countries as markets await Fed rate rise – business live

In other news, Bloomsbury has reported a record year for sales, as the Harry Potter publisher said the pandemic rise in reading had become “permanent” after lockdown measures eased.

The company benefited substantially from Covid restrictions when homebound consumers turned to new hobbies, including reading, to pass the time, reports my colleague Kalyeena Makortoff.

Economic fears persist, as various international institutions have recently released downbeat outlooks. Similarly, tightening central bank policy, the impact of a soaring US dollar and rising interest rates on the purchasing power of emerging economies mean the risks to our outlook are concentrated on the downside.

Higher oil prices and a weaker economic outlook continue to temper our oil demand growth expectations. But in 2023, a resurgent China will boost non-OECD demand growth, offsetting a slowdown in the OECD.

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Source: theguardian
ECB to devise new tool to help indebted countries as markets await Fed rate rise – business live