Quite simply they are doing this because of inflation and the rate of Price Increases and the International Comparisons are clear, although inflation is falling, in the uk it is not falling by as much or down to as low a level as it is elsewhere in europe in the us, and the us, and the bank has been talking up food prices and the amount we pay for services and the speed that wholesale, lower wholesale prices are being passed through the supply chain to us. The bank talked about crystallising risks, essentially the fear that when it comes to private sector wage growth, rings might be becoming embedded so they argued they needed to continue acting despite the impact it will have on households and businesses and we know the impact it will have on uk households and Mortgage Holders and also those ran singh. Also a warning from the bank also those renting. They said the rates will be high for a while, they are expecting inflation to meet the target of the Prime Minister, to half inflation t
Higher savings for some. In the last half an hour, weve had this reaction to the rate rise from the chancellor, jeremy hunt. Well, of course any rise in Interest Rates is a worry for families with mortgages, for businesses with loans. But underneath that decision is a forecast that says that this time next year, inflation will be 2. 8 and we will have avoided recession. What the Bank Of England governor is saying is that we have a plan that is bringing down Inflation Lay solidly, robustly and consistently. So the plan is working but what we have to do as a government is make sure we stick to that plan and dont veer around like a shopping trolley. We stick to that plan so that families and businesses can start to feel the benefits of that plan actually working. So, jeremy hunt says the government is sticking to its plan. But this was the reaction from labours shadow chancellor, rachel reeves. The government need to take responsibility for the fact that inflation in the uk is much higher
Courtroom today. I know its still wednesday where you are, but of course thursday, he will appear. But of course thursday, he will a ear. ~ , but of course thursday, he will auearr , appear. Were ust about technically appear. Were just about technically thursday. Appear. Were just about | technically thursday. The apartment midnight here in washington, so yes for us, but later. The clock went midnight. Donald trump is expected to appear in person. That might not surprise you because in previous cases, hes wanted to be seen turning up at court. Hes wanted to be there in the public spotlight. He does tend to use campaign. Heres what the choreography looks like. As a massive security operation. Normally there wouldnt be a president , but there is from the former president there wouldnt be a precedent. They need to make sure the media is safe reporting, and the man is safe. They will read the charges out against him and they will ask him to enter a plea of guilty or not guilty. He will b
Growing at a slower rate for the past two months, but inflation remains at nearly 8 , four times higher than the official target. Hannah miller has this report. For father of two peter, sorting out the Family Finances is proving hard. He and his wife bought their first home using the help to buy scheme. But when their mortgage comes up for renewal early next year, theyll have to find an extra £750 a month in repayments. Somehow were supposed to spend less and find £750 extra a month to pay for that. So, you know, for many families, its a terrifying situation. If you have young families like ourselves who have been swayed into the Housing Market by government, whose advertised help to buy as an affordable scheme, right, when things become unaffordable, you cant simply turn around and say, thats your problem. A rise of 0. 25 Percentage Points would take the Bank Of Englands base rate to 5. 25 , the highest since april 2008. For someone with an average Tracker Mortgage of £200,000, tha