welcome. let me start with the situation welcome. let me start with the situation as we see it on the outlook situation as we see it on the outlook for the economy. the outlook for growth outlook for the economy. the outlook for growth and unemployment has improved~ for growth and unemployment has improved. six months ago we expected a shallow improved. six months ago we expected a shallow but long recession. since then energy prices have fallen substantially and economic activity is holding substantially and economic activity is holding up better than expected. so today is holding up better than expected. so today we forecast modest but not positive so today we forecast modest but not positive growth and a much smaller increase positive growth and a much smaller increase in positive growth and a much smaller increase in unemployment. we think inflation increase in unemployment. we think inflation will fall quite sharply over inflation will fall quite shar
welcome to the programme. amid the turmoil in uk markets this week, the chancellor met the us banks today and was told in no uncertain terms that his budget which he has planned for november is way too far away . the government needs to communicate much sooner, said the banks, on what the solution will be to the problem the city believes they created. it has been another chaotic day on the markets. this morning, the bank of england performed a screeching u turn, putting the brakes on its plan to sell government bonds and instead launching a new scheme to buy them. think of it as a form of digital money printing. the bank is creating funds to to buy bonds which the government issues to borrow money. and this is why. since the mini budget, the cost of government borrowing long term has shot up. it was spiralling above 5%. that s a 20 year high. we have seen rises in the last two days that would normally take years. the bank of england is buying up the debt, in essence creating
was published this morning which is when we have as well, the aggregate position for the uk as a whole which doesn t tell the same story that the similar similar chart the ecb has published for the european area so not the same picture in terms of contributions. the not the same picture in terms of contributions. not the same picture in terms of contributions. the aggregate chart shows no increasing contributions. the aggregate chart shows no increasing profit - contributions. the aggregate chart shows no increasing profit share i contributions. the aggregate chartj shows no increasing profit share of national shows no increasing profit share of national income. on the general nature national income. on the general nature of national income. on the general nature of forecast, these are conditional forecasts so when the conditions conditional forecasts so when the conditions change the forecasts change conditions change the forecasts change may be other forecast change for o
water, yes. you see here, basically a foot of water. yes- you see here, basically a foot of water, es. , , , , ., water, yes. just very quickly before i let ou water, yes. just very quickly before i let you go. water, yes. just very quickly before i let you go. one water, yes. just very quickly before i let you go, one of water, yes. just very quickly before i let you go, one of the water, yes. just very quickly before i let you go, one of the concerns i i let you go, one of the concerns was that as this work has shifted, we ve been watching it for several days and it was sort of heading towards tampa, but then it moved further south. towards tampa, but then it moved furthersouth. do towards tampa, but then it moved further south. do you think that gave people enough time to get out, or is the concern that a lot of people are being trapped because the forecast change so rapidly? itrefoil. forecast change so rapidly? well, the forecast forecast change so rapidly? well, the for