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5 Things You Need To Know, Today, on Wednesday 22nd March 2023
5. Stock markets around the world have bounced back after the US and UK governments again reassured markets about banks' stability.
US stock markets were higher after Treasury Secretary Janet Yellen signalled the US government would protect people's deposits if another bank collapsed. In the UK, the FTSE closed 1.79% higher after gains in top bank shares.
4. Delivery giant Just Eat has announced it is to axe 1,700 jobs as it ceases to employ its delivery riders and drivers.
Instead it will use gig economy workers to deliver food in the UK, as opposed to the hybrid system of employees and self-employed workers, despite strong comments by the chief executive against the gig economy.
3. The International Monetary Fund (IMF) says it has reached a staff-level agreement with Ukraine on funding worth $15.6bn (£12.8bn).
The organisation's first loan to a country at war is expected to be approved in the coming weeks.
2. The US Federal Reserve, the biggest central bank in the world will announce whether they will raise interest rates later, at 6pm UK time.
Just two weeks ago, Chairman Jerome Powell warned the bank might need to raise interest rates further and faster than expected but two banking failures in the US this month have raised fears about the health of the financial system and lead many analysts expect officials to raise rates by just 0.25 percentage points, or perhaps hold off on an increase entirely.
1. The cost of living in the UK as represented by the Consumer Price Index (CPI) for February, is due at 7am this morning.
The headline CPI inflation is forecast to decline further from the 41-year high marked in October while easing to 9.9% YoY in February, versus 10.1% to the year in January.