hello and welcome to audiences in the uk and around the world. we begin in the us where the central bank is expected to increase interest rates by another 75 basis points today which would be the fourth consecutive increase of this size. many are hoping for signs the federal reserve may soften its approach in the months ahead with markets anticipating a 0.5% rate rise in december. so what s different within the us economy that would lead the fed to change its current course? here s michelle fleury. since march the federal chair hiked the rate by three percentage points, in so doing caused more expensive loans on everything, from houses to cars and credit cards, so far they have done so without any damaging slowdown in job have done so without any damaging slowdown injob or growth wealth creation. the trouble is there is no sign of a living rolling off with consumer prices, inflation still high at over 8% and still the fed has focused on. and until it sees inflation coming
global markets are eagerly waiting for the latest us inflation numbers and whether they will give any indication the rate has peaked. last week there was unexpectedly strong us jobs data which added to expectations the world s biggest economy is able to withstand a sharp interest rate rise by the federal reserve. but if inflation continues to soar it could change the likelihood of an aggressive big hike by the central bank. here s our north america business correspondent michelle fleury. after yea rs of no after years of no or at least hardly any inflation in the us, the past 12 months have seen consumer prices bugging sharply. the annual headline rate was 9.1%, the highest level for a0 years. economies expect the rate to call slightly to 8.7%. if that is the case that was ignored some welcome relief for us consumers and there are signs that americans do not expect inflation to continue at these levels for long. in addition, congress is about to pass the inflation reduction a
But their experience may be some what quieter than normal. Somewhat quieter than normal. A very warm welcome to all of you joining us from the uk and from across the globe. From today, travellers arriving in england, wales or Northern Ireland from dozens of countries will no longer have to self isolate for two weeks. More than 70 countries, in fa ct. However, scotland has said it will keep the quarantine rule in place for countries with a higher prevalence of covid i9 than its own and warned people not to try to get around it by entering via england. The Foreign Office has also said travel on cruise ships should be avoided, meaning holiday makers with bookings risk having their trips cancelled. 0ur reporterjohn mcmanus has more. Spains tourist industry is keen to say hello to british holidaymakers as soon as possible. Paul is heading there tomorrow. Now we dont have to quarantine coming back in, it isa quarantine coming back in, it is a big help, knowing that we canjust go is a big hel
Hello and welcome to audiences in the uk and around the world. Were covering all the latest coronavirus developments here in britain and globally. But first lets bring you some breaking news Chinese State media is reporting that wuhan city where the outbreak began has revised its total death toll up by 50 . Thats 1,290 to more than 4,500. The number of confirmed infections was also revised upwards of 325 to more than 50,000. The wuhan municipal headquarters said the revisions were because early reporting had been delayed and inaccurate. But it stressed there had been no cover up of the realfigures. The city of 11 million has spent months in Strict Lockdown conditions, which have only recently been eased. It comes as new figures indicate the countrys economy has contracted for the First Time Since records began. Its Gross Domestic Product for the First Quarter has dropped 6. 8 , compared with last year. And a quarter before that it had grown by 6. 4 . And well have more on that story in