5. 25 . Susanna streeter is a friend of the bbc and is waiting in the wings. I saw you react as soon as that announcement came up. Your reaction, please . Reaction, please . Yes, finally the Bank Of England reaction, please . Yes, finally the Bank Of England has reaction, please . Yes, finally the Bank Of England has pressed reaction, please . Yes, finally the Bank Of England has pressed the | reaction, please . Yes, finally the i Bank Of England has pressed the big red pause button on Interest Rate hikes and this will be a big relief for those consumers and those companies who have been really struggling with higher Borrowing Costs. And it is clear that that the drop in inflation in the year to august and also that caught rate of inflation, stripping out volatile food and fuel prices, really did come as a surprise because they voted with the majority of 5 4 to maintain the bank rate and to keep rates on hold. Whereas if you look at the last time they had to make this decision, only one of those members of that Monetary Policy committee voted to keep rates on hold, so you can see how sentiment within that Committee Really has changed. And of course they are concerned that if they did increase Interest Rates yet again, that would tip the economy potentially into a recession, into a deep downturn. And remember there is this a like effect. We have already had successive Interest Rate hikes. So many people have felt it but others havent yet of course because lots of homeowners with mortgages havent had to find a new mortgage, they havent come to the end of their deals, but they will do so in the coming months. And so this like effect will start to come through and already we have that data this lag effect. We have a data that the economy shrank injuly and other data showing that companies are more reluctant to hire workers so we are seeing demand already being pushed out of the economy and this is why policymakers have made this decision to keep rates on hold. We policymakers have made this decision to keep rates on hold. To keep rates on hold. We had coveraue to keep rates on hold. We had coverage of to keep rates on hold. We had coverage of course to keep rates on hold. We had coverage of course on to keep rates on hold. We had coverage of course on bbc to keep rates on hold. We had coverage of course on bbc breakfast earlier today, and we were talking about whether it is good or bad news. It really isnt as simple as that because ultimately it is still at a high rate. I that because ultimately it is still ata high rate. I mean, how long that because ultimately it is still at a high rate. I mean, how long can the uk economy sustain this . Well. The uk economy sustain this . Well, es, i the uk economy sustain this . Well, yes. I mean. The uk economy sustain this . Well, yes. I mean. That the uk economy sustain this . Well, yes, i mean, that is the uk economy sustain this . Well, yes, i mean, that is the the uk economy sustain this . Well, yes, i mean, that is the big yes, i mean, that is the big question and why policymakers are of course concerned because we are already getting these indicators coming through that plenty of companies are finding it a lot tougher. Consumers are also finding it a lot tougher. They have borne the brunt of The Cost Of Living crisis for so long. And it isnt likely that we will see cuts any time soon, im afraid, because Wage Inflation is still running relatively hot and that has been a concern amongst policymakers in the past, and they will still have an eye on that. So what they dont want to do is press pause and potentially cut and then see inflation running away again because, of course, the risk is that if wage demands are exceeded, that could Push Companies to increase prices yet again to offset the cost of high wages. And that could then have a Knock On Effect to where we see inflation. Interestingly, we have seen this increase in the oil price recently, but that certainly hasnt blown policymakers off this course of pressing pause on rates because i think they see that as more fleeting and have their eye more on the potential for embedded inflation. And have their eye more on the potentialfor embedded inflation. If potential for embedded inflation. If those potentialfor embedded inflation. If those wage hikes continue. I potential for embedded inflation. If those wage hikes continue. Potential for embedded inflation. If those wage hikes continue. I have a number of guests those wage hikes continue. I have a number of guests that those wage hikes continue. I have a number of guests that will those wage hikes continue. I have a number of guests that will be number of guests that will be talking about specific aspects of what this rate will mean to them in everyday life. Butjust listening to what the Prime Minister had to say, he again reiterated his pledge to the british. There is support out there for those who are struggling. From all the analysis you have been looking at, The Cost Of Living, does that ring true to you, is there enough support . That ring true to you, is there enough support . Well, we have undertaken enough support . Well, we have undertaken research enough support . Well, we have undertaken research on enough support . Well, we have undertaken research on the undertaken research on the Resilience Parameter and that indicates that many more people towards the end of the year are going to really struggle with their finances. We have been managing to keep their head above water because they are still having to deal with these much higher prices and with Borrowing Costs not set to rise, but not set to go down any time soon, i do think many more people do need a bit more extra support. find do think many more people do need a bit more extra support. Bit more extra support. And the fed in the us made bit more extra support. And the fed in the us made their bit more extra support. And the fed in the us made their decision in the us made their decision yesterday, also holding at their previous level. In terms of the forecasts at what point do we learn what the Bank Of England forecasts are likely to be . Are likely to be . Well, actually, the minutes are likely to be . Well, actually, the minutes of are likely to be . Well, actually, the minutes of the are likely to be . Well, actually, the minutes of the monetary i are likely to be . Well, actually, i the minutes of the Monetary Policy Committee Meeting are out now and certainly within it they are saying they will continue to monitor closely indications of persistent inflationary measures and resilience inflationary measures and resilience in the economy as a whole, including the tightness of the Labour Market conditions and the behaviour of wage growth and Services Price inflation so what i was telling you about earlier, they are still concerned about wage growth and whether that could risk inflation going upwards once again, which they certainly dont want. And they want to ensure that the current Monetary Policy stance is restrictive enough so that it keeps demand still washed down in the economy, but not so restricted, of course, that it benefits the economy into a deeper content than necessary. When talk about the us and the economy there, it is forecasted to grow much more strongly than expected and that is why the federal reserve, the us central bank, is planning yet another rate hike rate hike later this year. It is called the dot plot went policymakers got out where they see the projections of Interest Rates Going Forward and that is why you see strength in the dollar, partly why you saw those falls in the pound, but also because of the expectation that there wouldnt be another Interest Rate hike, and that certainly has played out. Certainly has played out. Susanna, dont no certainly has played out. Susanna, dont go anywhere. Certainly has played out. Susanna, dont go anywhere. Lots certainly has played out. Susanna, dont go anywhere. Lots to certainly has played out. Susanna, dont go anywhere. Lots to talk dont go anywhere. Lots to talk about. In the meantime, one of the areas that people are struggling with, of course, is Mortgage Payments. I am joined with, of course, is Mortgage Payments. Iam joined by with, of course, is Mortgage Payments. I am joined by rita kohli, a Mortgage Broker, and also the Managing Director at the mortgage shop. Interest rates have been held. What does this mean . It shop. Interest rates have been held. What does this mean . What does this mean . It ust means that hopefully what does this mean . It ust means that hopefully there h what does this mean . It ust means that hopefully there is what does this mean . Itjust means that hopefully there is more what does this mean . Itjust means that hopefully there is more of what does this mean . Itjust means that hopefully there is more of a that hopefully there is more of a positive outlook with lenders. This morning a couple more lenders have announced a reduction in rates across fixed and tracker is and where it has been held it hopefully means that they are more confident to reduce even further. Haifa means that they are more confident to reduce even further. To reduce even further. How likely is that to happen . To reduce even further. How likely is that to happen . You to reduce even further. How likely is that to happen . You said is that to happen . You said hopefully more positive rate from lenders. If you are sitting at home and you are barely making your mortgage payment, i mean, how confident should you feel that Mortgage Payments will be going in the right direction, and that is backwards, really, lower . It will take time for backwards, really, lower . It will take time for those backwards, really, lower . It will take time for those that backwards, really, lower . It will take time for those that have i take time for those that have already remortgaged earlier this year than those who have hopefully taken advice from advisers as to what are the best options for them. But they will probably start to see the impact more so in a year or two, now they have secured the right. But anybody else looking to remortgage, that are due to come up, we certainly see more positive signs as to what options they have available. 0k. Just take us through the journey that these high Interest Rates have had on mortgages. Had on mortgages. Well, a lot of eole had on mortgages. Well, a lot of peeple have had on mortgages. Well, a lot of peeple have put had on mortgages. Well, a lot of people have put a had on mortgages. Well, a lot of people have put a pause had on mortgages. Well, a lot of people have put a pause on had on mortgages. Well, a lot of| people have put a pause on those had on mortgages. Well, a lot of people have put a pause on those who were thinking about potentially moving or buying their first home, and we arejust moving or buying their first home, and we are just seeing that there has been more and more conversations around, what do i do about my next Remortgage Rate . A lot more people have now been more prepared, knowing that Interest Rates have gone up. They are not quite sure how much it is impacting them but they are having the conversations much earlier. They can typically look to renew six months before the existing rate finishes, so they are a bit more prepared about their budgeting and although we cant do much about the Interest Rate, there are options we have been talking to our clients about extending their mortgage terms, potentially, to reduce those monthly outgoings. And to look at those that are already on existing good rates from a couple of years ago to consider overpaying on their mortgages so that they dont have as much impact when their rates come up for renewal. Flan much impact when their rates come up for renewal. ,. , much impact when their rates come up for renewal. ,. ,. Much impact when their rates come up for renewal for renewal. Can you stay there, lease . For renewal. Can you stay there, please . I for renewal. Can you stay there, please . I would for renewal. Can you stay there, please . I would like for renewal. Can you stay there, please . I would like you for renewal. Can you stay there, please . I would like you to for renewal. Can you stay there, | please . I would like you to detail what those conversations should sound like, and what Mortgage Holders should be doing next. Lets bring in Dan Wilson Craw, Deputy Chief Executive of Generation Rent. Is this good or bad news, the way you see it now . Its is this good or bad news, the way you see it now . You see it now . Its hard to say, reall. You see it now . Its hard to say, really right you see it now . Its hard to say, really. Right now you see it now . Its hard to say, really. Right now interest you see it now . Its hard to say, really. Right now Interest Ratesl you see it now . Its hard to say, i really. Right now Interest Rates for renters, they affect renters in indirect ways compared with Mortgage Holders. For example, some renters will be looking to buy their first home right now with Interest Rates much higher than two years ago. That hasnt really fed into house prices, so if you are looking to buy a new home, the Monthly Payments will be a lot higher than maybe what you are currently paying in rent. And so until house prices do react and do come down in response to higher Interest Rates, there will be a lot more people in the private sector. What that could mean is that there is a lot more people who have more to spend because they are better off than the average renter. That leads to higher rents, so if you are moving house and you decide to rent or buy, you potentially are able to afford more because there is a shortage of housing and that is essentially putting up rents to some extent. Separately, where the landlord has a mortgage, in a lot of cases they will have already tried to put rents, if they were not already charging what the market rent was. But that market but, actually, the proportion of landlords who have a buy to let mortgage is actually roughly 40 of the sector so there are a lot of landlords not affected by Interest Rates but maybe they are still charging higher rents and rents are going up for a number of reasons. The biggest one being the overall shortage, the fact we havent built enough homes over the past few decades. It enough homes over the past few decades. ,. ,. ,. ,. , decades. If you are a renter, should ou now decades. If you are a renter, should you now feel decades. If you are a renter, should you now feel confident decades. If you are a renter, should you now feel confident that decades. If you are a renter, should you now feel confident that you decades. If you are a renter, should you now feel confident that you will| you now feel confident that you will not be seeing a hike in your monthly rent . I not be seeing a hike in your monthly rent . ~ ~. , not be seeing a hike in your monthly rent . ~ ~. , , rent . I think. We have surveyed our suworters rent . I think. We have surveyed our suworters at rent . I think. We have surveyed our supporters at Generation Rent . I think. We have surveyedj our supporters at Generation Rent and when we lost it in the summer, 60 of people who responded said they had had a rent increase in the last year. A lot of them were saying the most common reason was the landlord saying that they were increasing the rent to the market rent. I increasing the rent to the market rent. , increasing the rent to the market rent. ,. ,. , rent. I am ust going to interrupt ou. Rent. I am just going to interrupt yom please rent. I am just going to interrupt you. Please dont rent. I am just going to interrupt you. Please dont go rent. I am just going to interrupt you. Please dont go anywhere. | rent. I am just going to interrupt you. Please dont go anywhere. Lots of questions. I need to pause for a moment and say goodbye to our viewers on bbc two. More coming up right here on bbc news. 0k, ok, so youjoin ok, so you join us on bbc news and the breaking news is that announcement, much anticipated, from the Bank Of England. The Interest Rate has been held at 5. 25 . So there is no change. We are discussing who the winners are, who the losers are, if there are any, what this means Going Forward particularly off the back of the us fed doing exactly the same but pre empting a possible hike before the end of the year. Susanna streeter has been with us here on the programme. Ijust want streeter has been with us here on the programme. I just want to streeter has been with us here on the programme. Ijust want to come back to you because what i would like to ask you is, is there any scope or possibility that the Bank Of England could do the same as the fed, and we could maybe see another hike within this particular cycle . Yes, it so interesting, looking through the minutes of this meeting and they do stress that Monetary Policy needs to be restrictive over the longer term, to make sure inflation doesnt run away again and they have said that further tightening in Monetary Policy would be required if there were evidence of more persistent inflationary pressures. So certainly leaving the door open to another rate hike. That is why i think you have seen the pound edged up a tiny little bit in the five month lows it reached earlier at the very fact that the could still be another rate hike to come. However, it doesnt look, i must admit, from my perspective, less likely, given the expectation that demand is expected to drop further out of the economy and we have already seen the Economy Contracting injuly have already seen the Economy Contracting in july and have already seen the Economy Contracting injuly and certainly have already seen the Economy Contracting in july and certainly as Contracting Injuly and certainly as these higher contracting in july and certainly as these higher Interest Rates, even though they have been kept on hold, they are still going to be punishing for companies and consumers. So it is likely that consumers may still spend less and push down prices a little bit more as a consequence. At the door is still open and you can never say never. The door is still open and you can never say never. Indeed. I am going to brina in never say never. Indeed. I am going to bring in a never say never. Indeed. I am going to bring in a couple never say never. Indeed. I am going to bring in a couple of never say never. Indeed. I am going to bring in a couple of comments. To bring in a couple of comments from the Chancellorjeremy Hunt off the back of this announcement. A research and policy officer, i will come to you shortly. Just bringing these comments from the chancellor. I would like you to think about your reaction to them. He says that now is the time to see the job through. We are on track to have inflation this year and sticking to is the only way to bring interest and Mortgage Rates down. I know the womens budget group see Interest Rates as something i a blunt tool. What is your reaction to todays announcement . I what is your reaction to todays announcement . What is your reaction to todays announcement . I think it is a small relief that interest announcement . I think it is a small relief that Interest Rates announcement . I think it is a small relief that Interest Rates are announcement . I think it is a small relief that Interest Rates are not. Relief that Interest Rates are not going up, but still the level is high and we think that the impact of any economic decision, especially the Bank Of England decisions, have a different impact on women and men because we have different positions in the economy. It would be good to see the losers and winners that you mention before because there are consequences in inequality and we think that having high Interest Rates might be increasing gender inequality. We also know it is very important to keep inflation going down. We dont want another winter with families deciding whether to eat or turn on the heating and we also know that women either shock of poverty. Any economic decision will have gender impact. Have gender impact. Sorry, i am auoin to have gender impact. Sorry, i am going to jump have gender impact. Sorry, i am going tojump in have gender impact. Sorry, i am going to jump in. When have gender impact. Sorry, i am going to jump in. When you have gender impact. Sorry, i am going to jump in. When you say| have gender impact. Sorry, i am going to jump in. When you say that going tojump in. When you say that women and particularly the vulnerable are hit disproportionately by Interest Rates and economic conditions, could you give us an example . Because many people would say, well, come on, the rights of women have moved on, surely the environment at work is a lot better than it was generations ago. Sojust lot better than it was generations ago. So just work through an example for myself and the viewers. I willi for myself and the viewers. I will mention two for myself and the viewers. I will mention two things. For myself and the viewers. I will mention two things. First, for myself and the viewers. In ii. Mention two things. First, women have less savings than men on average. They benefit less for having high Interest Rates. The other point is that the rates of insolvency are higherfor women. Insolvency are higher for women. This insolvency are higherfor women. This means that women are less able to pay off their debts, so now we are experiencing a cost of living crisis plus the cost of debt crisis. Because women have a low income in general, they are in a very vulnerable position and this is worse for larger families and lone mothers. , worse for larger families and lone mothers. ,. , ~ worse for larger families and lone mothers. , ~ ,. , worse for larger families and lone mothers. , ~. , � mothers. Ignacia, thank you, dont no awa. Mothers. Ignacia, thank you, dont go away dan. Mothers. Ignacia, thank you, dont go away. Dan, the mothers. Ignacia, thank you, dont go away. Dan, the deputy mothers. Ignacia, thank you, dont go away. Dan, the deputy chief go away. Dan, the Deputy Chief Executive of Generation Rent. Obviously campaigning for renters. We had your thoughts in a short while ago but ijust want we had your thoughts in a short while ago but i just want to we had your thoughts in a short while ago but ijust want to bring in another element. Where does this Leave Renters when it comes to a lot of landlords saying they are going to be leaving the market, which effectively will impact on supply of rental properties because of the new law that the committee is looking at in terms of evictions . They say it is just not worth it any more. In terms of evictions . They say it isjust not worth it any more. Well, certainly the isjust not worth it any more. Well, certainly the increase isjust not worth it any more. Well, certainly the increase in isjust not worth it any more. Well, certainly the increase in interest i certainly the increase in Interest Rates does impact landlord business models. They will be a lot of landlords who, even if they raise the rent to whatever the market rent is now, which has gone up by 22 in the last couple of years, even then there will be landlords who cannot make it work and they will be looking to sell. What we need to do in that sort of situation is, you know, the government need to look out for the interests of the tenants in that situation and there are things that could be done that could be ways to encourage landlords to sell with sitting tenants, so they dont have to evict the tenant in order to exit the market. You know, exit and unprofitable investment. Through the renters reform bill, it is very important piece of legislation right now. The Rental Marketjust legislation right now. The Rental Market just doesnt work for the private tenants. The landlord doesnt need a reason to evict a tenant. You only get two months notice to move out and that really undermines a lot of the security you feel in your home, your ability to complain about problems in your home to your landlord will stop if your landlord essentially can just evict you without needing a reason, that leaves you very precarious. The legislation is very important. Ultimately the government has put in new ground, so where are landlord does have a valid reason they can still evict the tenant. They are presenting this as a balanced piece of legislation. I think landlords who prefer to be able to evict tenants arbitrarily are already doing it. If there are landlords who rely on being able to mistreat their tenants, we need them out of the market. And i think, if that is what the legislation achieves, that is fine. When a landlord sells, they are selling to another occupier, who might be an existing tenant, or they might be an existing tenant, or they might be an existing tenant, or they might be selling it to a professional landlord. Ultimately, the number of homes does not decrease so there is not really. Aha, decrease so there is not really. A negative impact. Dan, ithink you negative impact. Dan, i think you have kind of answered my next question. As ignacia pointed out, she would like to know who the winners and losers are. In terms of the guests i have with me at the moment. Is it straightforward to say who has won and who has lost . Is it a fairly equal Playing Field in the Rental Market . I a fairly equal Playing Field in the Rental Market . A fairly equal Playing Field in the Rental Market . A fairly equal Playing Field in the rentalmarket . ,. ,. ,. , Rental Market . I suppose a lot of it deends Rental Market . I suppose a lot of it depends on Rental Market . I suppose a lot of it depends on what Rental Market . I suppose a lot of it depends on what you Rental Market . I suppose a lot of it depends on what you are Rental Market . I suppose a lot of it depends on what you are a Rental Market . I suppose a lot of it| depends on what you are a landlord is like. It is a real lottery for renters. Your landlord might be completely mortgage free, in which case they are not facing pressure to increase the rent. They are not facing pressures potentially to sell. But if your landlord is very heavily indebted then it makes you more precarious. Some renters have very little in savings so will benefit from higher Interest Rates. Dan. Thank you very much indeed. That was Dan Wilson Craw of the Generation Rent organisation. Rita, i will come back to you. Rita kohli is a Mortgage Broker and Managing Director at the mortgage shut. Im sorry to put Time Pressure on you but i would like two answers from you succinctly if you could. First off, what would those conversations be like now with your Mortgage Lender . Also, is there a clear winner and loser within your industry . Winner and loser within your indust . ,. ,. , industry . Conversation should be around, industry . Conversation should be around. Speak. Industry . Conversation should be around, speak, definitely industry . Conversation should be around, speak, definitely speak i industry . Conversation should be| around, speak, definitely speak to your mortgage adviser. Seek advice. There is the Mortgage Charter that all of the lenders have signed up to, so there is help out there if you are worried about your increased Interest Rates, although it will impact your monthly budget, once you speak to your advisor and they have gone through all the options, your lender is also willing to help, there are options where they will allow you to go on interest only six months just to give you a bit of a buffet. They are looking to extend terms and also do payment holidays. When it comes to landlords, unfortunately for them, as dan alluded to, it is tougher for those that have got the debts on their property and they are forced to increase rents. Their rates have not been affected at all, they are still on quite a high rate, and even if they are slightly lower it they have got quite big upfront product fees to pay so they are having to alleviate those costs onto renters. Again, talk to your advice and see what your options are. I feel that with landlords, if they are looking to sell, it means it gives the opportunity for a First Time Buyer who has been waiting to buy that there is property for a while. Why there is property for a while. Why there are any winners and losers of this . I dont think so. I think everybody is on the same Playing Field. Those renters out there who are desperately trying to save for a deposit and to buy have not got the options there for Affordable Housing schemes. There are not any out there and they are struggling on waiting lists. So i think it goes round full size as to who is in the right place at the right time and to really focus on budgeting. fiic place at the right time and to really focus on budgeting. 0k. Rita, thank ou really focus on budgeting. 0k. Rita, thank you very really focus on budgeting. 0k. Rita, thank you very much really focus on budgeting. 0k. Rita, thank you very much for really focus on budgeting. 0k. Rita, thank you very much for that. Really focus on budgeting. 0k. Rita, thank you very much for that. We i thank you very much for that. We have had comments from both the chancellor and the shadow chancellor, sojust chancellor and the shadow chancellor, so just to chancellor and the shadow chancellor, sojust to remind chancellor and the shadow chancellor, so just to remind you, 5. 25 Interest Rate has been held. Earlier, jeremy hunt said we are starting to see the tide turned against high inflation but we will continue to do what we can to help households struggling with Mortgage Payments. Now is the time to see the job through, he said. We are on track to have inflation this year and sticking to our plan is the only way to bring interest and Mortgage Rates down. Meanwhile, the shadow chancellor, rachel reeves, so if i can just find that comment. It is just coming in here very quickly. Bear with me. She has commented also naming mortgages, saying that inflation still remains high and household coming off a Fixed Rate Mortgages will still be worse off because of the conservatives disastrous, she says, mini budget. Britain has been left worse off after 13 years of economic chaos and instability under the conservatives. Talking about instability, susanna, how have the markets reacted to this . ~ , , this . Well, interestingly, the ftse 100, the index this . Well, interestingly, the ftse 100, the index of this . Well, interestingly, the ftse 100, the index of the this . Well, interestingly, the ftse 100, the index of the top this . Well, interestingly, the ftse 100, the index of the top 100 100, the index of the top 100 Companies Listed on the london stock exchange, initially were boosted but we have seen some of the game is full back and it is a similar picture for House Builders. Initially we sought the likes of persimmon, taylor wimpey, berkeley homes, stock rising because Interest Rates have been kept on hold because of course it has been very tough for House Builders in this environment but none of those gains have also been erased and i think that is because the Bank Of England kept the door open to another Interest Rate rise if inflation runs away again but also investors are assessing the fact that it is likely that Interest Rates will stay at this high position for quite some time so it is going to still be tough for House Builders. It doesnt mean to say because we have this poor is that it will make everything easier. These high rates are set to linger for some time because we have this pause. Linger to the back half of next year because inflation is pretty consistent. Of next year because inflation is pretty consistent. Susanna streeter, head of money pretty consistent. Susanna streeter, head of money and pretty consistent. Susanna streeter, head of money and markets pretty consistent. Susanna streeter, head of money and markets at head of money and markets at highbury is london. Rita kohli, also md at the mortgage shut, and Dan Wilson Craw check delivered Generation Rent and ignacia pinto, thank you very much forjoining us on bbc news. Just before we leave you i want to return to our newsroom and david waddle who has been poring over the implications, the consequences of this announcement. Actually, do you know what . Before i come to you, david, we are just getting a further comment coming from andrew bailey, governor of the Bank Of England, saying inflation has fallen a lot in recent months and we think it will continue to do so. That is welcome news. Just sum up so. That is welcome news. Just sum up what took place today and what it means, david. Indie up what took place today and what it means. David up what took place today and what it means, david. ~ � ~. , means, david. We didnt know whether we would see means, david. We didnt know whether we would see a means, david. We didnt know whether we would see a height means, david. We didnt know whether we would see a height in means, david. We didnt know whether we would see a height in the we would see a height in the industry or whether it would be kept on hold. 5. 25 . We now have that information after a long string of 14 information after a long string of 1a consecutive hikes. The bank lead for the first time in quite a long time has kept its Interest Rate on hold. Inflation is still way too high. The Bank Of England target is 2 , somewhere between 0 and 2 but inflation is now 6. 7 . It is a long way short from the level it was some months ago, 11. 3 , but it is still over 3 , the Bank Of England target. Holding the Interest Rate where it is for the moment will be sufficient to keep bringing Interest Rates down, according to the Bank Of England. It may rise again but that is where we are finau. England. It may rise again but that is where we are finau. David, thank ou ve is where we are finau. David, thank you very much is where we are finau. David, thank you very much indeed. Is where we are finau. David, thank you very much indeed. If is where we are finau. David, thank you very much indeed. If you is where we are finau. David, thank you very much indeed. If you have i you very much indeed. If you have been waiting for this announcement, 5. 25 , Interest Rates have been held ljy 5. 25 , Interest Rates have been held by the Bank Of England. Early i was asking one of our guests how sustainable are such Interest Rates is like our Chief Economics Correspondent has written an article, analysis, on the bbc live page, asking that question. Is this the end of the rate rises . Maybe not, she says. Head over to the bbc news website for more. Lucy has more. This is bbc news, the headlines poland says it will still carry out agreed deliveries of weapons to ukraine as a diplomatic dispute over grain escalates. India appears to have suspended visas for canadians a further deterioration of diplomatic relations over the death of a sikh separatist. Fresh reports of gunfire in the disputed Nagorno Karabakh while peace talks between armenian separatists and the azerbaijan government wrap up. King charles historic address. He becomes the first british monarch to speak from the French Senate chamber. Lets return now to our top story. The Polish Government says it is still carrying out previously agreed deliveries of weapons and ammunition to ukraine. Thats after the countrys Pirme Minister said its was no longer supplying arms to its neighbour and was instead concentrating on its own defence. Live to brussels and anna fortiga member of European Parliament and former polish minister of Foreign Affairs and a member of the law and justice party. It is said this time. Can you explain what was meant by the statement of the Prime Minister . The statement of the Prime Minister . Iia Communique Statement of the Prime Minister . The communique from statement of the Prime Minister . Ii9 Communique from the statement of the Prime Minister . Ii9 communique from the government also