FT News Briefing

China is not out of the woods yet

Jan 18, 2024

10:06

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IMF warns against rapid rate cuts; BP appoints new permanent CEO; Conservatives quelled revolt over Rwanda asylum bill; China's population decline and slow economic growth

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Episode notes

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Quick takeaways

Gita Gopanath, IMF official warns against hasty interest rate cuts due to slow decline in inflation.

Murray Auchincloss appointed as BP's CEO to stabilize the company's financial performance and improve share price.

Deep dives

IMF warns against cutting interest rates

Gita Gopanath, a top IMF official, has cautioned central banks about the consequences of cutting interest rates. She emphasized that inflation will decline slowly and cutting rates could be counterproductive in the fight against inflation. Recent data, such as the unexpected rise in inflation in the UK, supports her warning. European Central Bank President Christine Lagarde also suggested holding rates steady until summer.

Introduction

2min

Appointment of Murray as CEO of BP and His Priorities

2min

Maximizing Financial Performance, Asylum Legislation, and China's Economic Challenges

4min

Challenges and Recommendations for China's Economy

3min

A top IMF official has warned that central banks need to move cautiously on cutting rates this year, BP has appointed interim boss Murray Auchincloss as its permanent chief executive, and Rishi Sunak quelled a rightwing Conservative revolt over his flagship Rwanda asylum bill. Plus, the FT’s Joe Leahy explains why China’s population decline accelerated in 2023 as its economy grew at one of the lowest rates in decades.

Mentioned in this podcast:

IMF official warns central banks against fuelling inflation with rapid rate cuts

Stocks drop as ECB and UK inflation puncture interest rate cut hopes

BP appoints interim boss Murray Auchincloss as permanent chief

Tory rebels abandon revolt over Rishi Sunak’s Rwanda bill

China’s population decline accelerates as economy reaches low growth target

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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