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we begin with the turmoil on financial markets today, the pound sterling continues to languish against the us dollar and several other currencies. the slide in its value was triggered by last week s mini budget, with its controversial package of tax cuts. let s get historical for a moment. we have records for sterling against the dollar going back through history, and in the early hours of monday morning it reached an all time low that is since the creation of the us currency in 1792. let s take a closer look at the past few days the dollar has been strong but this further drop down is about sterling weakness, with a bit of a recovery and then falling back again. you can see this dramatic few days, sterling weakness with a little bit of recovery before it fell back again. on friday and monday there were massive moves within a day, which for a currency like sterling is rare. and one of the impacts of a low pound means that we import inflation, oil and gas is more e ....
so let s now get down to business and we begin with the bank of england and the warning that interest rates could go up by as much as half a percentage point at its next rates meeting. that s according to the bank s governor, andrew bailey. he was speaking to financial leaders in london last night and pledged to do whatever it takes to get inflation under control. we will have to act forcefully. in simple terms it means a 50 basis point increase will be among the choices on the table when we next meet. but it is not locked in. and anyone who predicts that we will do that is doing that based on their own view. we do not pronounce rate decisions for one very simple reason, and pc decisions are based on deliberation at the time on nine people focused on retaining inflation to the 2% target sustainability. well, injust over an hour s time we will get the latest inflation figures for the uk. prices have already been rising at the fastest rate in a0 years at 9.1%. joining me ....
hello. we start with the soaring cost of living, because the price of filling up an average car here in the uk has hit more than £100 for the first time ever. fuel prices are adding to the intensifying pressure on household budgets, notjust here, but around the world, coming on top of rising energy bills and food prices. our business editor simonjack reports. butcher alistair paul makes deliveries from here in inverness all over the west coast of scotland, but he s considering doing fewer journeys in his three vans, or charging for delivery, as higher fuel costs put a squeeze on the business. we re finding it really difficult. the vans are taking about £130 each to fill up for the week. it s up to over £300 a week, where it was, you know, down in the 200s beforehand. everyone s struggling. we re struggling at home. the staff are struggling. you know, we re all struggling. so, it s not only fuel, it s everything else that s going up. at least his business can claim back the ....
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