indonesia has sacked a police chief in east java after one of the world s worst football stadium disasters. at least 32 children were among 125 people who died in the crush. since the events of the mini budget, the pound has regained most of its losses, but the costs of government borrowing and mortgage interest rates are still significantly higher. it was meant to be growth it was meant to be a growth plan, not a budget. it was meant to underpin the confidence of investors in all projects from those involving towering cranes to ordinary house moves to make that investment. but instead, it amplified an interest rate shock from around the world and targeted it at the uk. if i look back at this, natwest last week were quoting a five year fixed rate at 3.77, whereas the changes that
it was meant to be a growth plan, not a budget. it was meant to underpin the confidence of investors in all projects from those involving towering cranes to ordinary house moves to make that investment, but instead it amplified an interest rate shock from around the world and targeted it at the uk. natwest last week were quoting five year fixed rate at 3.77, whereas the changes that were made to take their five year fixed rate cheapest is 5.14. and that was with a 40% deposit. ten minutes walk from the chancellors speech, a birmingham mortgage broker is still seeing the shock waves from last week hit ordinary consumers. it s been a massive shock this past week, the pace of change very difficult to keep up with, lenders are withdrawing products with little or no notice or even retrospectively telling us a deal has gone so it makes us
news, in birmingham. the highly controversial mini budget of ten days ago produced a little turbulence , in the chancellor s words that was kwasi kwarteng s reference to a collapsing pound and higher interest rates. since the events of friday 23rd september, the pound has regained most of its losses, but the costs of government borrowing and mortgage interest rates are still higher. and there remains the big question of how the chancellor will fund £15 billion worth of tax cuts, as our economics editor faisal islam reports. it was meant to be a growth plan, not a budget. it was meant to underpin the confidence of investors in all projects from those involving towering cranes to ordinary house moves to make that investment. but instead, it amplified an interest rate shock from around the world and targeted it at the uk. if i look back at this, natwest last week were quoting a five year fixed rate at 3.77,
the nasdaq has fallen some 33% since its high last november. gas prices up slightly. $3.77 a gallon. keeping a close eye on ian bearing down. new home sales unexpectedly bounced back last month. potentially people jumping in ahead of higher mortgage rates. sales jumped 28% from july. here s evidence home prices may be cooling finally. the national home index shows home prices up more than 15% in july from the year earlier but that s smaller than the 18% price jump in june. it is the largest two-month deceleration in the history of the index and highlights how mortgage rates have doubled this year. causing prices there maybe to cool off. all right. a general motors walking back its new return to workman date. a memo sent out late friday said
the s&p 500 lost one and a quarter. the nasdaq was down two and three quarters. take a look at gasoline prices. jumping 11 cents a gallon overnight. one month ago the average price was $3.42. a week ago 3.57. yesterday 373 and today s price 3.84. for diesel, 3.77 a month ago. 3.98 a week ago. 4.12 yesterday and 4.26 today. president biden says the economy rolled back faster than expected. celebrating the february jobs report but there is tremendous strain on the economy and american families on higher prices particularly as you just saw from gasoline. white house correspondent jackie mine rick joins us tonight with how that factors in to the ukraine crisis live from the north lawn. good evening, jacqui. good evening to you, bret. just when the grip of the pandemic seems to loosens the war s threat to the economy is growing by the day.