rates are expected to rise from 4.25% to 4.5% as the bank of england tries to rein in soaring inflation. inflation is still running at over 10% and at a as year high, largely driven by soaring food and energy prices. the bank rate is already at its highest level for m years, and further increases will pile more pain onto borrowers, particularly homeowners through higher mortgage rates. let s look ahead now with azad zangana, senior european economist & strategist, schroders. this deal we will get in half an hour but it feels done and are priced n. it hour but it feels done and are riced n. , hour but it feels done and are priced n- hour but it feels done and are ricedn. ,, , . ,. priced n. it is pretty much expected end has been priced n. it is pretty much expected end has been flagged priced n. it is pretty much expected end has been flagged for priced n. it is pretty much expected end has been flagged for some - priced n. it is pretty much expected | end has been fla
months to september. so how does the eurozone push for growth and stay competitive? let s find out. joining me now is azad zangana, who s a senior european economist at schroders. thank you forjoining us here. welcome to bbc news. we have growth falling, or rather stalling, inflation hopefully falling. how does the euro zone position itself, what should it be doing? position itself, what should it be doinu ? position itself, what should it be doing? position itself, what should it be doinu? ., ., , ., be doing? the eurozone is doing re be doing? the eurozone is doing pretty much be doing? the eurozone is doing pretty much what be doing? the eurozone is doing pretty much what most - be doing? the eurozone is doing pretty much what most of- be doing? the eurozone is doing pretty much what most of the i pretty much what most of the advanced economies around the world are trying to do at the moment, which is low inflation, and they have done that by raising interest rates qu
which started the year at under $500 a share and closed on wednesday at over $1,200 a share. that is just such a huge jump in a short time. it rose over 5% in value on wednesday alone, giving it the market cap of just over $3 trillion. let s hear more from our north america business correspondent erin delmore. wall street s on a record breaking run. the latest all time high closes for the s&p 500 and the nasdaq. the latter powered by you guessed it nvidia. the chip makerjoined the $3 trillion club on wednesday, overtaking apple as the world s second most valuable company. microsoft is still the world s number one. nvidia is only the third company to ever exceed $3 trillion in market value. it s leading in the race to develop the chips needed to enable new artificial intelligence applications. and that s where the other tech giants and a lot of companies are spending big bucks right now. nvidia shares ended the trading day up more than 5%. alphabet, amazon, apple, meta,
the federal reserve is expected to hold firm at its meeting next week. but elsewhere the tide is turning. canada became the first of the world s richest g7 economies to lower its main lending rate on wednesday shaving off a quarter of a percentage point to 4.75%. today it s the turn of the ecb the european central bank to make its move. many are predicting a similar drop from the current 4% main interest rate. that would mark the first cut for the eurozone since 2019. joining me now is azad zangana, senior european economist from schroders. i m good morning. do you believe that will happen today from the ecb, that they will cut rates? from the ecb, that they will cut rates? absolutely, this is -robabl cut rates? absolutely, this is probably slightly cut rates? absolutely, this is probably slightly overdue. i cut rates? absolutely, this is i probably slightly overdue. they could have started cutting interest rates from about april onwards. but they have had to wait to get more co
hopefully now a greater reliance on lng from parts of the middle east and north america should help improve the volatility we have seen in the markets and the impact on inflation. markets and the impact on inflation- inflation. azad zangana, schroders, inflation. azad zangana, schroders, good - inflation. azad zangana, schroders, good to i inflation. azad zangana, schroders, good to talk| inflation. azad zangana, i schroders, good to talk to you, thank you. schroders, good to talk to you, thank you- to russia now, where the economy continues to grow despite repeated rounds of western sanctions thanks to help from china. it means the mood at russia s equivalent of davos the st petersburg international economic forum has been buoyant. our russia editor steve rosenberg went to look around. it is the world s most sanctioned country. but here s the thing russia s economy is growing faster than the economies of britain, america or germany. at russia s showcase economic forum, eve