Pain it also causes. The background to this is high inflation, we have a sequencing that Around The World, particularly sticky, or at least has been here in the uk. That is why the bank has been increasing Interest Rates to try and curb the spending and get that Inflation Rate down. Should they continue to do that today, on the one hand, we have an Inflation Rate in the uk that has been easing a little, and when you dig into some of the details, to look at Producer Price inflation, thatis look at Producer Price inflation, that is further down the supply chain, that is the price is that manufacturers and factories might be paying, suggestions are it could be coming down quite significantly now. On the other hand, headline inflation, 7. 9 , still four times the Bank Of Englands 2 target. When you strip out energy and food, which can be equally volatile core inflation, they are still not falling by enough, wage growth remains quite high as well, and then there are wage comparisons, and in
Responsibility for the fact that inflation in the uk is much higher than it is in comparable countries. In the us, it is 3 . In the eurozone it is 5. 3 . And yet, here in britain, inflation remains stubbornly at 7. 9 because of a decade or more of mismanagement by the conservative party. Lets talk to our work and money reporter peter ruddick. What does this mean for people with mortgages . It what does this mean for people with mortua. Es . , what does this mean for people with mortua. Es . , , what does this mean for people with mortauaes . ,. Mortgages . It was widely expected but unfortunately mortgages . It was widely expected but unfortunately that mortgages . It was widely expected but unfortunately that will mortgages . It was widely expected but unfortunately that will not but unfortunately that will not prevent the pain from hurting. Lets break this down, for people on a variable or a tracker rate mortgage, which tracks the Bank Of England base rate, they will see immediate im
Not in line. What the bank is doing is looking back at inflation, but forward at what this Rate Decision may influence in terms of behaviour. I think, from last Bank Of England became, where they moved a 50 basis points, that was taken as a really big jump in rates. Since that decision, we have seen some improvement in inflation numbers. There were still some calming for a 50 basis point change, but i think that this was more of the consensus. As you say, the balance between trying to get inflation under control, because lets not forget, that also makes people poorer in the long run, and also, making sure that there is not too much damage done to there is not too much damage done to the economy is a Balancing Act that they have to play. And, if you watch some of the comments Andrew Bailey made after the meeting, there were some pretty negative outlook in terms of gdp and the general gross scenario for the uk. Scenario for the uk. And, a fine line in terms scenario for the uk. And, a fi
Is a rate rise good for you . Really looking forward to speaking to you, to hearing from you this morning, by telephone, by text or social media. Lets get the neatest News Headlines from karishma patel. The Bank Of England is expected to raise its main Interest Rate to 5. 25 at lunchtime. It will be the 14th time in a row its gone up. Inflation has slowed down in the past few months, but is still at nearly 8 four times higher than the official target. Deputy Prime Minister, oliver dowden, says migrants will start to be housed on a barge in dorset in the coming weeks and that inspections are being carried out. They were meant to move in earlier this week but there have been concerns over fire safety and port staff. Ofcom says older viewers are switching away from live tv as part of a record drop in people watching traditional television. The Broadcasting Watchdog says audiences now have an all you can eat buffet of broadcast and online content to choose from. Scientists say a Prehistori
Remember thatjust like most americans who have credit records when they want to borrow money and find out how much debt they can take on, the Us Government also gets a credit rating. When it gets downgraded like this, the potential long term effect as it could push up the cost for the Us Government of borrowing money, and in turn that might long run push up taxes, it could mean less spending by the government and could mean fewer government and could mean fewer government programmes in the future. We are not there yet, but that is the underlying fear. If you look at what they are trying to address here in this downgrade, or one of the concerns they cite, it is a problem that exists both in the past but also in the future, and that is rising Us Government debt. At the moment Us Government debt stands at in excess of 30 trillion and it is expected to exceed the total size of the us economy at some point. With that in mind, with this problem in sight, and with the political disunity we ha