rates to a 15 year high at 4.5% as it continues its fight against high inflation. and donald trump calls for republicans to let the us default on its debt rather than give way on biden s spending plans. hello. a warm welcome to the programme. this is world business report, i m ben thompson and we are going to start in the uk where the bank of england has raised interest rates for a 12th consecutive month. all of that as it tries to fight high inflation. uk interest rates were raised by 0.25%, while the bank said inflation would fall sharply in april but not as far or as fast as it previously thought. last month inflation slowed to 10.1% but that figure is still way above the bank of england s target. remember that target is 2%. let s speak to victorias, head of investment at interactive investor. lovely to see you. let s talk about what we have heard. first the interest rate itself because the interesting stuff is what the bank told us about what might happen next. a widely
congress warning that the treasury would be unable to satisfy its obligations as early as the 1st ofjune. presidentjoe biden will be meeting top lawmakers including republican house of representatives speaker kevin mccarthy and it is now scheduled for 3pm on tuesday after being postponed from last friday. more from new york. in less than two weeks, the united states could fail to meet its debt obligations and if lawmakers cannot come to some sort of agreement. the republicans of continued to demand cuts to social spending before they will agree to raise the borrowing limit. us presidentjoe biden has repeatedly said he would not set conditions and that lawmakers must raise the debt limit because failure to do so would result in an economic catastrophe. some of the possible outcomes ofjob possible outcomes of job losses, possible outcomes ofjob losses, those who depend on social security benefits when i get paid and the most dire of outcomes would be the loss of confidence in a
let s start in the us where some of the worlds leading money managers are warning the collapse of another american bank could lead to a credit crunch and an economic slowdown. constrained lending as a result of stricter banking regulation could stifle credit to the us economy at a critical time. we ll get an expert view on this in a moment but first here s my colleague samira hussain on the collapse of first republic. as of monday, first republic customers turning up at their bank are in fact customers ofjp morgan chase. the signs above will soon change. first republic had been under pressure since the collapse of silicon valley bank and signature bank two months earlier. last week, first republic revealed deposited had removed $100 million in the space of a few months. customers feared their money was not safe. investors became convinced that it too was about to fail. riding to the rescue of america s distressed financial system, the boss of america s biggest bank, jamie dim
in the last few days but still some showers interspersed with sunshine. you can see where those showers have been congregating scotland and east anglia and the midlands. through the rest of the afternoon some heavy showers across the eastern side of england remaining. feeling warmer than yesterday in the mid to high teens. much of the showers fade away leaving clear skies for many some patchy rain in the far west of northern ireland and through parts of eastern england and south east england. temperatures dropping down to as low as three or 4 degrees overnight in some places. the moral dominating much of the uk. still some outbreaks of rain through northern ireland. plenty of sunshine to start from any tomorrow. that will fade through parts of western scotland and northern ireland as the rain pushes east. most of us having a dry day and warmer across england and wales with temperatures getting up and wales with temperatures getting up to 21 degrees. at thejubilee weekend it w
to average for the time of year. there are mainly dry and, look at the clouds gathering that will move in overnight into wednesday. that is from the next system moving away which has rain followed by sunny spells and showers, and with the isobars close together it will be blustery on wednesday so quite windy day. more wet weather to come for some on thursday. friday into the weekend, high pressure trying to settle things down. there will still be some showers around and high pressure doesn t necessarily translate into warmth. we will keep you updated on that. reeta. that s all from the bbc news at six so it s goodbye from me and on bbc one we nowjoin the bbc s news teams where you are. hello, and welcome to sportsday. i m gavin ramjaun. celebrations continue for premier league title winners manchester city. iam in i am in manchester city centre where this parade climaxes and city celebrate that five minute miracle. and we hearfrom france superstar kylian mbappe, who says he m