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The federal reserve is expected to hold firm at its meeting next week. but elsewhere the tide is turning. canada became the first of the world s richest g7 economies to lower its main lending rate on wednesday shaving off a quarter of a percentage point to 4.75%. today it s the turn of the ecb the european central bank to make its move. many are predicting a similar drop from the current 4% main interest rate. that would mark the first cut for the eurozone since 2019. joining me now is azad zangana, senior european economist from schroders. i m good morning. do you believe that will happen today from the ecb, that they will cut rates? from the ecb, that they will cut rates? absolutely, this is -robabl cut rates? absolutely, this is probably slightly cut rates? absolutely, this is probably slightly overdue. i cut rates? absolutely, this is i probably slightly overdue. they could have started cutting interest rates from about april onwards. but they have had to wait to get more co
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Hopefully now a greater reliance on lng from parts of the middle east and north america should help improve the volatility we have seen in the markets and the impact on inflation. markets and the impact on inflation- inflation. azad zangana, schroders, inflation. azad zangana, schroders, good - inflation. azad zangana, schroders, good to i inflation. azad zangana, schroders, good to talk| inflation. azad zangana, i schroders, good to talk to you, thank you. schroders, good to talk to you, thank you- to russia now, where the economy continues to grow despite repeated rounds of western sanctions thanks to help from china. it means the mood at russia s equivalent of davos the st petersburg international economic forum has been buoyant. our russia editor steve rosenberg went to look around. it is the world s most sanctioned country. but here s the thing russia s economy is growing faster than the economies of britain, america or germany. at russia s showcase economic forum, eve
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