This weekly wrapper brings you the latest stories from the world of economics and finance.
Top economy stories: Japanese yen hits two-decade low; Russia eyes legalization of cryptocurrency payments; World Bank cuts global growth forecast by nearly a third.
1. Top global economy news stories
The World Bank has cut its global growth forecast by nearly a third to 2.9% for 2022, saying that Russia's war on Ukraine has added to the damage caused by COVID-19 and that many countries face recession. Growth could fall to 2.1% this year and 1.5% in 2023, World Bank President David Malpass said.
The European Central Bank is expected to end eight years of negative interest rates as soon as July, as inflation threatens to run out of control, Bloomberg reports. Annual inflation in the eurozone hit 8.1% in May, with energy costs up 39.2%.
German inflation rose to 8.7% in May, its highest in nearly half a century on the back of soaring energy and food prices. And Switzerland's consumer price index...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...