A gloomy global economic outlook from the IMF

The International Monetary Fund has issued a gloomy forecast for 2023, saying the "worst is yet to come" for the global economy. The IMF says more than a third of the world's economy will shrink in the year to come, including the US, the EU and China. We look at the detail with former IMF official Dr Ousmene Mandeng, who is now senior advisor at Accenture. The Bank of England has warned of a "material risk" to financial stability as it made a fresh emergency move to try to calm markets today. It has made multiple interventions in markets since the government's mini-budget spooked investors, announcing huge tax cuts without saying exactly how they would be funded. Fiona Cincotta from City Index gives us the reaction from the markets. Finland launches its 'Down a Degree' campaign, aimed at saving energy in the wake of rising prices linked to Russia's invasion of Ukraine. People and businesses are being urged to lower their thermostats, take shorter showers and visit the sauna less often. Jarmo Lehtola from the Finnish Sauna Association explains how the industry is reacting and explains the sauna's place in Finnish culture.