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First a Welcome Development here in the uk. Inflation fell sharply to 6. 8 injuly, from 7. 9 injune. But it still means prices continue to rise. Prime minister rishi sunak says it shows his governments plan is working, but he cautioned against complacency. The drop was fueled by lower energy costs. But Core Inflation which looks at price rises excluding food and energy remained unchanged. According to the office of national statistics, the rising costs of hotels, air travel, and rents are in Part Keeping Inflation high. Economists are still expecting Interest Rates the tool used by the Bank Of England to control price rises to be raised further. The bbc s economics editor faisal islam has more. Th ....
Action like this. Action like this. Yes, its very difficult for action like this. Yes, its very difficult for this action like this. Yes, its very difficult for this situation action like this. Yes, its very difficult for this situation is l action like this. Yes, its very i difficult for this situation is very special because the transmission of Monetary Policy is very slow. Mostly because they are fixed Interest Rate mortgages for example but also because people have a lot of excess savings from covid because they were transferred to people to go through the pandemic, also to calm down the energy crisis, so this time its different. I dont like this phrase but i would say this is why there is a dogmatic divide between those who say dont wait for a policy mistake, dont hide too much, because things can be strong and we can go into recession and others say inflation is far too ....
there were sharp losses in early trading, although banking stocks have since rebounded slightly. ubs is currently up 3.5% let s take a look now at how the markets are performing more broadly. trading began in the us an hour ago. we can see the dow is up, the snp 500 also on 5.2%. in asia and in europe, there was some initial fright taken by investors, particularly because certain bondholders in credit suisse have lost all the value of their investment, but by the middle of the trading day most european indices were trading positively again. now, one aspect of the deal was that any investor holding additional tieri bonds, or ati bonds, in credit suisse will get nothing. that s more than 15 billion euros written off. it spooked the whole ati bond market which is worth more than 200 billion euros. let s discuss this in more details with dan kemp, global chief investment officer at morningstar investment management. why is the burning of these bondholders so controversial ....
just ahead, a days long manhunt is finally over. authorities in texas capture the man accused of gunning down five of his neighbors, including a child. readying the troops, the u.s. prepares to send hundreds of service members to its southern boarder in anticipation of a massive surge of migrants. and later, tackling loneliness. the u.s. surgeon general lays out a plan to address what he calls an epidemic of isolation in an effort to improve social connections. live from cnn center, this is cnn newsroom with rosemary church. and thanks for joining us. well, after a four-day manhunt, the suspect in the fatal shooting of five people, including a mother and her 9-year-old son in texas was arrested tuesday evening. authorities say 38-year-old francisco oropesa was found hiding in a closet under some laundry at a home just miles from the house where the killings took place. oropesa is being held on five counts of murder with bonds set at $5 million and will appear ....
after major concerns over the bank s finances. its shares fell by almost a third on wednesday at one point, forcing the swiss central bank to take action. it issued a statement saying credit suisse can borrow up to $54 billion us to boost its bottom line. today the shares have rebounded and are currently up just over 20%. the selling has continued in asia today, with japan s topix banks index falling more than 4%, after recording its worst day in three years earlier this week. we re nowjoined by craig erlam, who s senior market analyst at oanda. for the story to come out was unfortunate timing. it has the backing of the central bank. covering short positions? it keeps investors that they are holding onto something that is not going to become more innocuous. we will see more volatility over the coming days and now investors are going to be looking at more financial institutions to see if there are material weaknesses there as well. i don t think this is over at this poin ....