European Central Bank doubles interest rates to most in over a decade

We start off this edition of the World Business Report podcast with a look at the European Central Bank's third interest rate hike of the year. At 1.5% interest rates are at their highest level since the global financial downturn of 2009. Maria Demertzis, Deputy Director of the Bruegel, an economic think tank in Brussels, joined us to discuss the immediate and long term effects of this strategy. Next, we hear from Chin Le-Chewin, the boss of China's development bank about why they keep lending to countries with already crippling debt. In its annual report, the International Energy Agency (IEA) has warned that the first truly global energy crisis may be on the horizon as a result of Russia's invasion of Ukraine. Our presenter Sam Fenwick speaks with the Chief Energy Economist at the IEA, one of the co-lead authors of the report. Emma Wall is the Head of Investment Analysis at the UK brokers Hargreaves Lansdown and joined us for the latest on the markets. And finally, we end the programme with some good news. India's men's and women's national cricket teams will be paid the same appearance fee to represent their country. The announcement came from the India's top Indian cricket official, Jay Shah: who said, 'Pay equity was my commitment to our women cricketers". Diana Edulji, Indian's first woman cricket captain spoke joined the programme to discuss the significance of this milestone. This edition of World Business Report was presented by Sam Fenwick. Senior Producer: Izzy Greenfield | Producers: Devina Gupta and Gabriele Shaw