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russia after the kremlin held unofficial referendums. referendums. the bank of england has stepped in to prop up the government bond market after uk interest rates soared and gilts tumbled following the government s mini budget. the bank warned the market s reaction to the government s measures now represented a material risk to uk financial stability. it says the market for gilts, in which the british government borrows, has become dysfunctional and threatens the finances of uk households and businesses. investors fear the big market moves are a particular threat to the uk s pension funds and threaten spill over damage across the financial sector. here s our economics editor, andy verity. ever since last friday, the bank of englands governor andrew bailey has been trying to resist taking emergency measures following kwasi kwarteng s huge tax cuts to be funded by borrowing. but now the cost of borrowing on financial markets has forced him to. in an emergency statement, the ba ....
this is bbc news, the headlines: president putin warns the war with ukraine will continue until russia achieves its aims. he s holding his first major news conference since the war started. the republican led us house of representatives votes to formally authorise an impeachment inquiry into president biden. and the uk s spy agency gchq reveals its annual brainteaser for schoolchildren. let s ta ke let s take you to belfast. can you tell us what happened today and some of the background? it relates to bloody sunday, 30th january 1970 two, one of the worst incident during the conflict in northern ireland known as the troubles and many people were killed and one of the most significant and have a conflict developed lasting from the late 19605 to the conflict developed la5ting from the late 19605 to the late 19905. 13 people were shot dead by the british army, by members of the parachute regiment at a civil rights demonstration at londonderry, the second biggest city in n ....
latest pictures coming in of jake sullivan, his meeting there with israel s defence mr and as i was saying, president biden only a couple of days ago making his strongest comments yet of camera but talking about the indiscriminate bombing and his concern about the numbers of civilian casualties and we know that jake sullivan going there again to tel aviv with that message and also a message about what america sees as the timeline for this war compared to what israel apparently once. also, that area in the last 36 hours hit by a terrible weather that is making everything so much more difficult distressing pictures there but these are the scenes around khan younis where people are struggling with the weather as well as all of the displacement. there you see just what the conditions are like for people who have been displaced, asked to move three, four or five times now to the south of khan younis. those are some of the latest pictures. those displaced people in gaza have been s ....
where they are, let s keep them high to show financial markets that we are serious about fighting inflation and wait until it comes down before we loosen. of course the criticism here is that, and the bank s own analysis shows that, that it takes 1.5 years for the full effect of interest rate increases to ripple through the economy, so we might well be in a situation where we have kept rates very high for quite a while and that is really pummelling the economy, we are getting low or even negative growth and inflation is even below target. so it s understandable why the bank of england is risk averse and wants to make sure inflation is squeezed out for sure, make sure inflation is squeezed out forsure, but make sure inflation is squeezed out for sure, but there is a real risk of them are leaving rates too high for too long. of them are leaving rates too high fortoo long- of them are leaving rates too high fortoo lonu. . ~ ,, . ., for too long. thank you so much for our for t ....
and coming up in the sport on bbc news. the history chasers can they become the first scotland side to make it out of the group stage of a major tournament? hello and welcome to the bbc news at 0ne. well, in just a few hours, scotland s footballers kick off the euros, taking on germany in the opening game of the four week tournament. tens of thousands of scotland fans have descended on munich. england play their first match on sunday, against serbia. john watson s in munich for us and john, a big task for scotland tonight playing germany in germany? it is. they are calling this the biggest party in scottish football in 26 years. not since the world cup which was staged in france back in 1998 have scotland qualified for a major tournament overseas. as you can probably see behind me most of the scotland fans have now arrived here in munich. they have been mingling alongside their german counterparts here in one of the main squares in the city. it has been good natured ....