of the bank of england, andrew bailey, to discuss the collapse of silicon valley bank, which mostly financed tech start ups. hello to you in the uk and around the world the director general of the bbc, tim davie, has apologised for the widespread disruption to bbc sports output today but says he won t resign. a number of tv and radio programmes have been pulled from the schedules after presenters and pundits walked out in support of gary lineker. the former footballer was taken off this evening s match of the day , which he presents, for breaching the corporation s social media guidelines. tim davie spoke to our north america correspondent nomia iqbal. well, i m very sorry for the disruption today. it s been a difficult day, and i am sorry that audiences have been affected and they haven t got the programming. as a keen sports fan, i know, like everyone, that to miss programming is a real blow, and i am sorry about that. we are working very hard to resolve the situation and
four days on the run. the escaped pet tiger who left johannesburg residents worrying for their safety. hello and welcome. the prime minister of new zealand, jacinda ardern, has announced she will stand down next month, saying she no longer has enough in the tank after 5.5 challenging years in charge. her party will elect her replacement on sunday. our correspondent, shaimaa khalil sent this report. holding khalil sent this report. back tears, as she made this holding back tears, as she made this announcement. i holding back tears, as she made this announcement. this announcement. i will not be seeking this announcement. i will not be seeking re-election. - this announcement. i will not be seeking re-election. in . this announcement. i will not be seeking re-election. in ani be seeking re-election. in an emotional be seeking re-election. in an emotional press be seeking re-election. in an emotional press conference i emotional press conference jacinda ardern said she w
Thats the highest since the launch of the euro more than 20 years ago. And its worth putting into context that as recently as last year, eurozone Interest Rates were negative. The reason is that inflation is proving harder than expected to control. For the 20 countries using the euro, inflation was 5. 3 in august thats half the 10. 6 that it was a year ago. But as the ecb says today, it is still expected to remain too high for too long. Earlier we got the view from The Economist katharine neiss, she explained the background to this latest move. The ecb told us today through their actions they are still concerned with inflation being too high. I think in particular they are concerned that underlying inflation could become embedded in the euro area economy, making it harder for policymakers to get inflation back to their 2 target. Widely perceived this could be the lasting increase, we heard from the banks president that there was, the decision was not unanimous, there were dissenters. T
Shelter and housing. And particularly you mentioned the cpi numbers earlier. While the headline cpi did increase, core cpi which excludes volatile inputs such as food and energy is actually higher. Its at 4. 3 . And thats illustrating that underlying inflation seems to be a lot stickier than anticipated, which, as far as fed policy goes, means that rates likely have to continue to stay higher for longer. The Federal Reserve has been keeping rates high, and that is likely to be the strategy we are expecting to see . Exactly, yeah, and there is other tools that potential they could leverage, such as reducing the size of the balance sheet, through so called quantitative tightening, and that could push yields up and increase Borrowing Costs which, in essence, has similar effects to raising interest rates. As far as markets go, they are expecting the fed to raise rates not at this upcoming meeting, i believe, next week but actually more likely in december. Dimitri, how have consumers and bu
A lot of the inflation, if you look at it in the us, is really coming from shelter and housing. And particularly you mentioned the cpi numbers earlier. While the headline cpi did increase, core cpi which excludes volatile inputs such as food and energy is actually higher. Its at 4. 3 . And thats illustrating that underlying inflation seems to be a lot stickier than anticipated, which, as far as fed policy goes, means that rates likely have to continue to stay higher for longer. The Federal Reserve has been keeping rates high, and that is likely to be the strategy we are expecting to see . Exactly, yeah, and there is other tools that potential they could leverage, such as reducing the size of the balance sheet, through so called quantitative tightening, and that could push yields up and increase Borrowing Costs which, in essence, has similar effects raising interest rates. As far as markets go, they are expecting the fed to raise rates not at this upcoming meeting, i believe, next week