A move that was expected. The current cost of borrowing now sits at five to 5. 25 , the highest in 16 years. But is the fed finally done with rate hikes . The bbc� s Samira Hussain reports from new york. Inflation remains stubbornly high to try and get the cost of living back down to more normal levels. The federal reserve, americas central bank, has raised Interest Rates ten times in a little over a year. And now it seems it may be ready to perhaps take a pause. The committee will take into account the cumulative tightening of Monetary Policy, the lags with which Monetary Policy affects Economic Activity and inflation and economic and financial developments. We will make that determination. Meeting by meeting. The rate rises have slowed Economic Growth in the United States by making it more expensive to borrow money. And inflation is starting to come down. But there have been some unexpected Knock On Effects of the rate hikes. They played a part in the Banking Crisis where three banks collapsed in less than two months. So far, the fed has been successful in slowing the economy and prices without plunging the country into recession. But the trickiest moment may have arrived. At some point. Policymakers have to decide if theyve done enough to keep inflation falling while leaving the economy with enough monetary space to keep expanding. They didnt think they were there at this meeting, but it seems likely that theyll be there soon. Now youve heard samira there talking about the Knock On Effect of the feds aggressive tightening. Particularly on the Banking Sector. Well, shares of Regional Banks have again come under pressure after this latest rate hike was announced. Pacwest� s stock in particular has dropped around 60 in extended trading amid reports that the bank is exploring options, including a potential sale. Now. Prior to the feds latest decision, this chart shows the us Interest Rate trend from when the Us Central Bank first started hiking rates in march last year. As you can see. Policymakers were very aggressive from the middle to late last year. Blerina uruci is chief us economist at trowe price and earlier she told me that the fed. The hard part of the Money Tightening has been done. I think today it was indicated this might be the last hike in this might be the last hike in this cyclic. There still a door open to some Monetary Policy flexibility and that remains that inpatient remains elevated. One way to deal with the high and sticking inpatient is to stick with Interest Rates as they are now but for longer than we are used to in tightening cycles. Another one may be that if inflation remains strong there could be one or two more hikes coming down the line but i think the Working Assumption for the fed right now is that the hard part of the claim is done. Interest rates have increased by about five Percentage Points since last year and from here on words i think theres some flexibility that not a lot more tightening to be done. We were lookin at tightening to be done. We were looking at was tightening to be done. We were looking at was happening tightening to be done. We were looking at was happening in tightening to be done. We were looking at was happening in the Banking Sector and Interest Rates have played a role in all of that. This morning we see another Regional Bank that might be in trouble. What do you see moving forward . Is what the fed doing, are we facing a Credit Crunch in american banks . I Credit Crunch in american banks . ~ ,. , banks . I think this would be the weak banks . I think this would be the weak question banks . I think this would be the weak question that banks . I think this would be the weak question that we l banks . I think this would be i the weak question that we will need to answer for the rest of this year. As you mentioned earlier, Monetary Policy works better with sunlight. Different sections of the economy show the effect of tightening Monetary Policy at the expeditious case last year. So, the regional Banking Sector is now undergoing significant stress and i think we are going to see that in the amount of loans they are able to extend to businesses over the coming quarters. The key is that the regional Banking Sector in the us is a very closely tied with small and Medium Sized Companies which provide about half thejobs in companies which provide about half the jobs in the us economy. So, ithink half the jobs in the us economy. So, i think the effects of the Credit Condition tightening will be felt in the real economy but history suggests this happens with a lag. It doesnt happen immediately but it is coming down the line. Thats why it is so important for the fed, know that Interest Rates have reached 5 , to have a look around and see what else he needs to do. Inflation seems to be easing in many parts of the world but the higher prices that we saw in 20 22 are still taking a toll especially on the elderly. The International Group help age estimates that inflation has impacted millions of older people across the world, from pakistan to ethiopia leaving them struggling to afford food and medical care. The bbc� s Global Population correspondent Ricardo Senra has been speaking to some of them and joins us now from london. He told me how the light of the elderly and other vulnerable groups has gone up unnoticed. This is how experts describe this group. There invisible when it comes to humanitarian aid, Emergency Help and data. It is normally children and those in the workforce are are the main targets. Ive spoken with other people in several regions in the middle east, africa, asia and Latin America and the uk to understand the impact on this particular group. The stories are really strong. I have heard stories of people having one meals a day and sometimes not even that. People skipping medical treatments because they cannot afford transports to the hospital and pharmacies. As you say, in those interviews they reflect this new research of the organization. They have done interviews in many countries and up to 70 in Health Care Costs and people begging for help over 80 years old and a growing sense of shame and humiliation as a Mental Health became acute key issue in this crisis for many people. Spain is known for its many bars the country has around 280,000 of them, according to official statistics. And such is their importance that the countrys parliament has agreed to debate a proposal to make bars in small towns and villages eligible for special subsidies and benefits. This comes as part of a drive to reverse economic stagnation in sparsely populated rural areas of the country. Guy hedgecoe reports from central spain. The rural heartland of central spain, after decades of migration toward cities, these vast agricultural reliance areas of the country are sparsely populated. They have become known as emptied spain. The divide between rural and urban is more pronounced here than in most european countries. 90 of Spaniards Inhabit Larger Towns and cities. The rest are here. Nearly half of spanish towns are at risk of depopulation and among them is this shown in the aragon region. Population, 36. As is the case in so many villages, the bar is the heart of the community. Translation � ,. , of the community. Translation � ,. ,. , translation its a place for eole translation its a place for peeple to translation its a place for people to gather translation its a place for people to gather otherwise i translation its a place for| people to gather otherwise you will not see people. It means we have fun meeting place. Lots of eole we have fun meeting place. Lots of peeple are we have fun meeting place. Lots of people are involved in the bar and of people are involved in the bar and its maintenance creates obs bar and its maintenance creates jobs says bar and its maintenance creates jobs says this woman. So bars are needed to make sure people stay and work here. But are needed to make sure people stay and work here. Stay and work here. But with so few customers, stay and work here. But with so few customers, many stay and work here. But with so few customers, many rural stay and work here. But with so i few customers, many rural bars are struggling. Translation ,. , are struggling. Translation ,. ,. , translation the bar is not a viable business. Translation the bar is not a viable business. We translation the bar is not a viable business. We have translation the bar is not a viable business. We have to. Viable business. We have to organize other activities and thatis organize other activities and that is because the buyer does not pay for itself. You have to find other sources of income in order to make a Profit Orjust to break even. fix, order to make a profit or ust to break enmi to break even. A Political Movement to break even. A Political Movement represented l to break even. A Political Movement represented rural spain has been campaigning for the repopulation of areas like this and calling for an improvement in public services. It is hoping to have an impact on the National Political debates but by performing well in upcoming local elections. This party months wants to meet bars in towns with fewer than 200 inhabitants eligible for special economic support from the state because of the social rule of the plate. Spains parliament is considering the plan. Translation ~. ,. , translation we are fighting to im rove translation we are fighting to improve lives translation we are fighting to improve lives in translation we are fighting to improve lives in our translation we are fighting to improve lives in our villages improve lives in our villages stopped to improve infrastructure and have better services, Better Internet connections and improve our rules which are very bad. Rules which are very bad. Mike rhodes. Rules which are very bad. Mike rhodes. The initiative to save bars is aimed at preventing villages suffering abandonment which is been the fate of many. For those who live in emptied spain, they know the odds are still stacked against them. And thats it for this edition of Asia Business report. You can keep up with the latest news by visiting our website. Thanks for watching. Picking out offered an outfit for the prom. A mum and daughter well aware ofjust how much an outfit can set people back. Hundreds. You even see them second hand online for hundreds and when you are struggling to pay bills it is a real. She gasps. It is that moment when you look and you think, you want it to be right, so i think this is a really lovely thing to do. People can come along and take away a donated dress, forfree. It is run by Charity Which identified a desperate need. Some children cant go to the prom because they cannot afford it, or because their parents are getting into debt, or i have had phone calls from people who have been harassed by doorstep moneylenders, and all of the awful ways that they get money back, so it is donejust to stop that, just to make sure that the prom is inclusive and everybody can go. Last year they helped almost 500 people with dresses. This year, they hope to help even more. Hi there. Im ellis with the catchup. Tonight, a Drone Attack Attempt in russia. Can big sam save leeds and Love Island Star In Cancer Scare . But first, Climate Change could dramatically reduce life in the deepest parts of our oceans that are reached by sunlight. Scientists are warning that life in them could be reduced by as much as 40 by the end of the century. Some other stories now. Russia says its down to drones last night that targeted its Government Hq in moscow, known as the kremlin. Unverified footage on social media appeared to show an object flying over before a small explosion. Russia accused ukraine of attempting to kill president putin, but ukraine said it had nought to do with it. Madeleine mccann� s parents have said shes still very much missed. Today marks the 16th anniversary of her disappearance in portugal. Love island star is having tests for Thyroid Cancer after fans spotted a lump on the neck while she was in the villa. The 23 year old from london says even her mum didnt notice it. And big sam is back in the big league. Hes been named leeds boss for the final four matches of the premier League Season. The Dugout Veteranjoins four yorkshire giants who are outside of a Relegation Zone on goal difference. Time now to leave you with 10 seconds of escape. A Police Officer in the Us State Of Virginia was inches from death as a Speeding Driver spun out of control, collided with another car and nearly hit them. Luckily, no one was hurt. Thats you all caught up by for now. Have a good evening. Hello, im qasa alom, from the bbc sport centre. Coming up on the programme. Manchester city striker Erling Haaland breaks the record for goals in a premier League Season. Where next for lionel messi as The World Cup winner announces hell leave Paris St Germain at the end of the season ryder cup stars sergio garcia, ian poulter and lee westwood wont play in this years event find out why. Manchester city striker Erling Haaland broke the record for goals in a premier League Season as his side went back to the summit of the table by beating west ham. The norwegian scored his 35th league goal of the campaign in a 3 0 win to move past alan shearer and andrew coles previous best of 34. Haaland, in his debut season in english football, was given a guard of honour at full time by his team mates as he set the new record in just his 31st game