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Than to a country like britain. the government is hoping that by handing out tax cuts people have more money to spend and that will stimulate the economy to grow and improve living standards. but the imf is warning it could have the opposite effect because the pound is weak, import prices are higher, and that pushes up inflation and, to fight inflation, interest rates have to rise faster than previously thought and that could hit ordinary people where it hurts — in their mortgage payments. so far, the bank of england's announcement hasn't worked to calm financial markets. the all—share ind...

Recorded history against the us dollar come augu5t recorded history against the us dollar come august to the level of parity, ie one pound equals $1 but that was in thin trading on monday morning in the asian se55ion that was in thin trading on monday morning in the asian session and it then rebounded and has edged back a bit this morning but we are still around $1.06 to the pound, so roughly where we were at the end of last week, 5till marking a broader downturn for the pound against the dollar. if you look at borrowing costs in the uk tho5e dollar. if you look at borrowing costs in the uk th...

People where it hurts — in their mortgage payments. so far, the bank of england's announcement hasn't worked to calm financial markets. the all—share index of uk—listed companies is tumbling down 2% and traders are again selling the pound, now worth less than $1.06. andy verity, bbc news. andrew griffith is the financial secretary to the treasury — in an interview in the past hour — he defended the government's fiscal policy. it was your many budget the broad pension funds to their knees. d0 it was your many budget the broad pension funds to their knees. do you guys apologise? _ pens...

Costs. diesel fuel was up 25%. the price of diesel fuel is $5.06 a gallon and it takes about $1,000 to fill up one of our big tractors. that will run about a day and a half. >> steve: unbelievable. and a tractor costs you 300, 400,000. a combine is half a million. people realize there is nothing going on out in that country. i'm looking at millions of dollars worth of investment and you have got to be thinking to yourself, you know, because the way pork prices work, you are getting paid the same amount for a pound of pork that you were five, ten years ago now all the prices are exploded on wha...

One we have not seen a whole lot of solutions to. trace, up on the screen the gas prices today, now, we are over five bucks now, the national average. a week, up $0.06. from a month ago, a year ago, almost $2 higher now than we were a year ago, and it's not just gas as you know, it's airfares, you know, surging jet fuel prices, furniture, milk, meat, coffee. pretty much everywhere you look prices just continue to go higher. >> trace: jackie was talking about the 28 gallon suburban, here in california, just under $200. a couple days ago a gas station misplaced the decimal, everybody got gas for...