WASHINGTON (Reuters) -The European Central Bank is likely to end its bond purchase scheme in early third quarter and raise rates before the end of the year, European Central Bank President Christine Lagarde told CNBC on Friday, outlining the bank's exit from stimulus.

BERLIN (Reuters) -The German government will cut its growth forecast for Europe's biggest economy for 2022 to 2.2% from 3.6% amid the war in Ukraine, a government source told Reuters on Friday.

HOUSTON (Reuters) -Oil slipped on Friday, burdened by the prospect of weaker global growth, higher interest rates and COVID lockdowns in China hurting demand even as the European Union considers a ban on Russian oil that would further tighten supply.

The German government will cut its growth forecast for Europe's biggest economy for 2022 to 2.2% from 3.6% amid the war in Ukraine, a government source told Reuters on Friday.

The dollar surged to a more than two-year high on Friday, continuing to draw support from Federal Reserve Chair Jerome Powell's comments on Thursday that more or less backed a half a percentage point tightening at next month's policy meeting, including consecutive rate increases this year.

Indonesia will effectively ban palm oil exports from April 28, until further notice, after President Joko Widodo on Friday announced a halting of shipments of cooking oil and its raw material to control soaring domestic prices.