Live Breaking News & Updates on 56 Billion Dollars

we start here in the uk, where the bank of england has raised interest rates to their highest level for m years. the increase will leave millions of households facing higher mortgage payments at a time when many people are already struggling with crippling energy and food bills. the bank has raised rates by half a percentage point, to 4%. the aim to make it more expensive to borrow and spend so businesses and households rein in, meaning less upward pressure on prices. uk inflation eased slightly in december but was still at 10.5%, close to the highest level in a0 years and more than five times the bank of england s target. the bank governor said inflation had turned the corner, but the battle against surging prices wasn t over yet. we have done a lot on rates already. the full effect of that is still to come through. but it is too soon to declare victory just yet. inflationary pressures are still there, and we can see that in the data and we hear it from our agents. and we ....

Bank Of England , Interest Rates , Nuala Mcgovern , War With Russia , Leopard Tanks , Nazi Germany , 80th Anniversary , Battle Russia On Ukrainian Soil , Asia Pacific Region , United States , Military Presence , Uk S , Mortgage Payments , Percentage Point , 10 5 , Bank Rate , Rate Hike , Jeremy Hunt , Labour Shadow Rachel Reeves , Tax Cuts , International Monetary Fund , Conservative Party , Energy Bills , 0 5 , 1 5 , Andy Verity ,