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if you have just joined if you havejustjoined us it is time for the top business stories. we start here in the uk where in the next few hours the bank of england is widely expected to raise the cost of borrowing for the twelfth time in a row. the quarter percent rise most economists are predicting would take the bank s main interest rate to 4.5% the highest it has been in almost 15 years. the big question though will it be enough to start to get inflation, which is still running at more than 10% a year, under control? let s speak to katharine neiss she has held various roles at the bank of england and is now chief european economist at p gim fixed income. good to have you on the programme. iassume good to have you on the programme. i assume you are with the majority believe we are looking at a rate hike today of another 25 basis points. today of another 25 basis oints. . , today of another 25 basis oints. . , ., , points. that s right, that s the consens ....
quarter of this year the bank s last quarter before it had to be rescued by swiss rival ubs. and they illustrate the scale of the crisis which was around the corner. between january and march, credit suisse made a pre tax loss of nearly $1.5 billion. to add to its woes, a massive amount of deposits were withdrawn in the three month period. total outflow was nearly $69 billion. and to remind you what happened next, when there were fresh doubts about the stability of the banking industry a few weeks ago, investors became increasingly fearful for the future of credit suisse. it was eventually bought by its swiss rival, ubs, in what was described as an emergency rescue. the $3 billion price tag was a mere fraction of what the bank would have previously been valued. let s get more now from russ mould, investment director at aj bell. worryingly for the bank, desposits are still being withdrawn. how significant is that? hello, yes, they did say they feel that the outflows ....
i m not attempting to define i on tv. it s good that you re not launching a culture war around then that s one reason why i m not trying to define it. thank you, alex. it is going to be massive. a lot is going to come out sooner or later, and it s goin to be massive. it s going to be massive those are the words of somebody wh has seen and heard, an evaluated all, all of th evidence of donald trump s interference in the 2020 election in georgia. it is going to be massive. that statement was made by one of the members of the specia grand jury whose report ha recommended the indictment o more than a dozen people i georgia. we know that number because th first member of the grand jury to be publicly interviewed, th four person revealed tha number in interviews that sh did last month five other unnamed grand juror met together in a conference room with two atlanta journa constitution reporters, an have revealed much more that should be deeply disturbing an worrisome for ....
it s good that you re not launching a culture war around it then. that s one reason why i m not trying to define it. thank you, alex. it is going to be massive. a lot is going to come out sooner or later, and it s goin to be massive. it s going to be massive. thos are the words of somebody wh has seen and heard, an evaluated all, all of th evidence of donald trump s interference in the 2020 election in georgia. it is going to be massive. that statement was made by one of the members of the specia grand jury whose report ha recommended the indictment o more than a dozen people i georgia. we know that number because th first member of the grand jury to be publicly interviewed, th four person revealed tha number in interviews that sh did last month five other unnamed grand juror met together in a conference room with two atlanta journa constitution reporters, an have revealed much more that should be deeply disturbing an worrisome for donald trump prosecutors in georgi ....
folks, three days. three days man. until one of the most important elections, one of the most important elections in the lifetime is going to shape the outcome is going to shape outward the country for the decades to come. and the power to shape that outcome is in your hands. two years ago, two years ago, you use that power to make donald trump not only a former president but you made him a defeated president. president obama also urging voters to head out to the polls, worried about the future of democracy under gop leadership. fundamental rights are on the ballot. truth and facts, and a logic, and reason, and basic decency are on the ballot. democracy itself is on the ballot. the stakes are high! biden and obama rallied voters in philadelphia, former president trump also made a pitch to voters in the keystone state. he s in western pennsylvania stumping for his hand hit candidates. and as voters head to the polls, they re gonna determine which party controls c ....