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The chair of the federal reservejerome powell has approved another sharp rise in interest rates to try to rein in fast rising prices. the federal reserve said it was raising its key interest rate by 0.75 percentage points, lifting it to its highest rate since early 2008. let's talk about this together with our business correspondent michelle fleurey in new york to find out what it means for the us and other economies around the world talk us through this, they say they're trying to calm things down when it comes to inflation. 95nd they're trying to calm things down when it comes to inflation. ...

That is catastrophic, considering that official interest rates are only 2.25% now. they're likely to go up 1% on the 3rd of november, i suspect, or somewhere between 0.75% and 1%. but we're still... the cost of borrowing to the government now is an average of about 4%, somewhere between two years and ten years. that is a huge addition to the cost of funding, and the cost of funding the whole of the government's debt. let's bring in anna macdonald, a fund manager at amati global investors in edinburgh. borrowing investors in edinburgh. costs do remain high. high borrowing costs do remain high. ...

Ways to go to get inflation under control if jobs are still relatively plentiful and wages are relatively growing. it means more and stronger rate hikes down the line. that puts a damper on stock prices. it's also why this week is so important. we get producer price index on wednesday. that measures inflation at the business level. then you get that highly focused on consumer price index on thursday. that measures what all of us really pay at the counter, at the store, at the retail level. and by the way, in the middle of all of that, on wednesday, you get the fed minutes from their last meeti...

Reignited worries that the get r -- federal reserve will keep slamming the economy with big interest rate hikes. the job growth showed in september. they added 263,000 jobs, ticking down from august. directionally this is a step in the right direction, but it's a baby market. the jobs economy will have to slow much more to show the feds the inflation is getting under control. the labor market remains stubbornly strong. the unemployment rate slippet to 3.5%, a half-century low. friday's sessions on wall street slammed the brakes on what had been a big comeback week for the market. earlier in th...

The governor of the bank of england warned that the uk economy may already be in recession. it follows the announcement yesterday by the us federal reserve that rates there were rising by 0.75%. our economics editor faisal islam has the details. so the bank of england today have once again put up rates, another half a percentage point to 2.25%. it's back up to levels not seen since 2008, affecting the price of loans across the economy. it is now a decisive break with an era of extremely low rates that had lasted since the financial crisis and was prolonged by the pandemic. the bank wants to pu...