Higher savings for some. In the last half an hour, weve had this reaction to the rate rise from the chancellor, jeremy hunt. Well, of course any rise in Interest Rates is a worry for families with mortgages, for businesses with loans. But underneath that decision is a forecast that says that this time next year, inflation will be 2. 8 and we will have avoided recession. What the Bank Of England governor is saying is that we have a plan that is bringing down Inflation Lay solidly, robustly and consistently. So the plan is working but what we have to do as a government is make sure we stick to that plan and dont veer around like a shopping trolley. We stick to that plan so that families and businesses can start to feel the benefits of that plan actually working. So, jeremy hunt says the government is sticking to its plan. But this was the reaction from labours shadow chancellor, rachel reeves. The government need to take responsibility for the fact that inflation in the uk is much higher
The economy too much. To dicsuss this further im nowjoined by the Bank Of England 5 former head of international surveillance, katharine neiss. She is now the chief european economist for pgim fixed income. Good to have no surprise that Interest Rates are still rising. Do you think that this is it . ~ ,. ,. , is it . The banker very clear today that if inflation is it . The banker very clear today that if Inflation Remains is it . The banker very clear today that if Inflation Remains resilientl that if Inflation Remains resilient at higher levels, then they could see Interest Rates are going higher from here. That said, to me, the really big message coming out of the Bank Of England today was, even in the absence of further rises in Interest Rates, they really see these higher Interest Rates that we have seen more recently as he had to say for quite some time. Yes. Have seen more recently as he had to say for quite some time. Say for quite some time. Yes, and this is taming say for qui
by the covid pandemic. but i ve arrived during a brief moment of normality when lockdown has been lifted restaurants are filling up and masks are optional outside. bologna is an ancient university town the oldest in the western world brought to life by students flaunting their youth. this bread is an aphrodisiac. i m all alone in a hotel. why would i want to do that? this place is rich and its food is famous. some bold souls whisper that it s the best in italy. [massimo] smell, smell, smell! the smell is unbelievable. i m stanley tucci. i m italian on both sides and i m traveling across italy to discover how the food in each of this country s 20 regions is as unique as the people and their past. anger, religion, and death in one pasta. it has everything in it. i m here to discover why this place is home to the gastronomic superstars of the nation s food. [nicola] this is made with love. .and how an obsession with perfection. [woman] every cut is perfect. .drives its producers
so here we are in milan, the fashion and industrial powerhouse of italy. i ve only been to milan a few times and always in passing. i ve never stayed here long enough to really get a sense of it. the first thing that strikes you about milan is its dynamism. no wonder espresso was invented here. i think i might need a few of these just to keep up with the rhythm of the city, but do the hard-working milanese bring as much to the italian table as they do to the country s economy? i m stanley tucci. i m italian on both sides and i m travelling across italy to discover how the food in each of this country s 20 regions is as unique as the people and their past. that s delicious. here in milan, the menu is nothing like you expect. up here in the north, forget about pasta and pizza. oh my god, that s so beautiful. perfecto . this is the land of rice and polenta. -polenta in the ancient time, it was like the bread. -people from south of italy call us polentoni . [tucci] there isn t e