if you have just joined if you havejustjoined us it is time for the top business stories. we start here in the uk where in the next few hours the bank of england is widely expected to raise the cost of borrowing for the twelfth time in a row. the quarter percent rise most economists are predicting would take the bank s main interest rate to 4.5% the highest it has been in almost 15 years. the big question though will it be enough to start to get inflation, which is still running at more than 10% a year, under control? let s speak to katharine neiss she has held various roles at the bank of england and is now chief european economist at p gim fixed income. good to have you on the programme. iassume good to have you on the programme. i assume you are with the majority believe we are looking at a rate hike today of another 25 basis points. today of another 25 basis oints. . , today of another 25 basis oints. . , ., ,
and has been for many years. a serious, properjob. iassume and has been for many years. a serious, properjob. i assume you would have spent all day to day working on your house in brief but you are not doing anything so that goes to tell us something about the sort of, how high the stakes are and what the problems are. it is sort of, how high the stakes are and what the problems are. what the problems are. it is not ideal. what the problems are. it is not ideal- one what the problems are. it is not ideal. one of what the problems are. it is not ideal. one of the what the problems are. it is not ideal. one of the things - what the problems are. it is not ideal. one of the things i - what the problems are. it is not ideal. one of the things i was . ideal. one of the things i was wrestling with was the idea i would have to give up a job i love doing and i was very fortunate to work with some fantastic officials within the department, supported brilliantly by private office and also
confidence dropped, business confidence dropped, business confidence dropped, business confidence dropped but the labour market is still very tight and that means that wage inflation is still going up, and that runs the risk as far as the bank of england is concerned of a nasty wage price spiral, which they want to stamp out, so it seems likely that interest rates will go up further, from here. i that interest rates will go up further, from here.- that interest rates will go up further, from here. i am sure that you further, from here. i am sure that you are further, from here. i am sure that you are right further, from here. i am sure that you are right on - further, from here. i am sure that you are right on that - that you are right on that point. thank you, jane foley from rabobank. staying in the uk new rules come in today requiring restaurants in england to display the calorie content of food on their menus this as the government steps up efforts to tackle obesity rates.
in scotland mandatory mask wearing will continue in most indoor public spaces, though most of the restrictions will be lifted from monday. in wales, nightclubs can reopen at the end of next week, though they ll remain closed for now in northern ireland. the devolved nations are moving at differing speeds, charting their own courses through this stage of the pandemic. hugh pym, bbc news. let s get some business reaction to the changes. chris southworth is director general of the international chamber of commerce here in the uk good morning. iassume good morning. i assume that your members, those in the uk at least will be very happy to know that plan b does have an end. , ., , know that plan b does have an end. , . , , . ., ~ end. this has been welcomed. we have to learn end. this has been welcomed. we have to learn to end. this has been welcomed. we have to learn to live end. this has been welcomed. we have to learn to live with - have to learn to live with covid and it has been
promoted to a new senior role at facebook s owner meta. a facebook post from the company s boss mark zuckerberg said sir nick would become its president of global affairs. the move puts the former lib dem leader on a par with mr zuckerberg himself at the recently rebranded firm. the operator of australia s largest coal fired power plant has said it plans to shut it down in 2025 , that s seven years before its expected decommissioning. 0rigin energy says the vast eraring facility, just north of sydney, is no longer viable due to the lower cost of generating renewables. joining me now is marc 0stwald chief economist & global strategist, adm isi. good morning. this is good news, i assume, good morning. this is good news, iassume, the decommissioning of old fossil fuel energy supplies.-