interest rates are expected to rise sharply today, as the bank of england attempts to tackle soaring prices. the bank is expected to increase its base rate by three quarters of a percentage point from 2.25% to 3%. that would be its eighth consecutive increase since december, pushing the rate to its highest level for m years. it would also mark the biggest single increase since 1989, and could have a big impact on the cost of living and people s finances. our correspondent navtej johal has this report. omar is a veterinary surgeon based in derby. he came to the uk four years ago and had planned to buy a home and settle here long term. with interest rates here expected to rise further today, which is likely to make mortgages more expensive, omar says he s now considering whether he should even stay in the uk. have you lost trust in the uk? i trust my colleagues, i trust my friends, i trust a lot of people in the uk. it shook my trust in the system. and you may move, you may lea
and israel election officials confirm benjamin netanyahu and his far right allies as the winners in tuesday s vote he s set to return for a record sixth term as prime minister. the bank of england has warned that the uk is facing its longest recession since records began, as it raised interest rates by the most in 33 years. the 0.75% point rise the eighth consecutive hike takes uk rates to 3%, meaning higher mortgage bills for many homeowners. the bank of england s move matches the us federal reserve s rate hike on wednesday, as central banks around the world battle to combat inflation. here s the bank of england governor. these are big changes. they have a real impact on people s lives. so why are we doing it and why are we doing it now when so many people are struggling with higher energy and food prices and other bills? we are increasing bank rate because inflation is too high. it is the bank sjob to bring it inflation is too high. it is the bank s job to bring it do
after being set up in 1982 to shake up television , today the broadcaster is celebrating four decades of being on air. good afternoon and welcome to the bbc news at one. the prime minister rishi sunak said the migrant crisis is a serious and escalating problem and admitted that not enough asylum claims are being processed. the prime minister insisted the government is getting a grip of the situation and backed the home secretary suella braverman s handling of the issue. at prime ministers questions in the commons the labour leader sir keir starmer said just 4% of people arriving in small boats last year had their asylum claim processed. it comes as the prime minister reversed his decision not to attend next week s cop 27 climate summit in egypt, following widespread criticism. our correspondent ben wright has this report. are you failing on immigration, prime minister? a week in charge and the government s under question. rishi sunak headed to the commons for his second