accounts, which he says were dead on political grounds. the board, led by sir howard davies, said he had full confidence in dame alison rose, despite the row and despite her own admission she had spoken to a bbc journalist about nigel farage s affairs. but alex later that backing was taken away and it was agreed to a natlacen should step down. the chief executive of coutts stepped down shortly afterwards which brought a lot of pressure to bear on sir howard, but he defended the initial decision to back dane allison, which he said was rational but that the political reaction made her position untenable. natwest is partially owned by the government, it has about 838% stake. he also insisted he would be staying on, so clarity for the moment on the day that natwest unveiled its profit figures for the first half of the
when the home office ran out of hotels booked longer term to accommodate migrants. the banking giant natwest has reported pre tax profits of £3.6 billion for the first half of this year more than analysts had expected. two senior executives at the bank 38% of which is still state owned resigned this week after a row about the closure of nigel farage s accounts at coutts, which is owned by natwest. our business correspondent theo leggett is with me. the bank s chair has been speaking today what has he been saying? he has been saying he will not resign. that may come as a relief for the rest of the band because we saw the departure of the chief executive this week and also of the chief executive of coutts. there has been a big row hanging over natwest over 30 closing of nigel farage s
that says there might be more to come. and british banking giant natwest continues to remain under pressure over an inaccurate bbc story about the closure of nigel farage s current account. welcome to asia business report with me mariko 0i. 0ur welcome to asia business report with me mariko 0i. our top story for you this morning, the us federal reserve has moved to hike the cost of borrowing once again. the central bank raised interest rates by a quarter of a percentage point, bringing it to the highest level in 22 years. and as my colleague michelle fleury explains, they have left the door open for more. . , have left the door open for more. ., , ., , more. the federal reserve has moved with more. the federal reserve has moved with unprecedented - more. the federal reserve has i moved with unprecedented speed to get inflation under control. since march of last year, it has raised its benchmark rate by five at a quarter percentage points. its latest move is likely to pick up the cost
come. and british banking to come. and british banking giant natwest continues to remain under pressure over an inaccurate bbc story about the closure of nigel farage s current account. welcome to asia business report with me mariko oi. our top story for you this morning, the us federal reserve has moved to hike the cost of borrowing once again. the central bank raised interest rates by a quarter of a percentage point, bringing it to the highest level in 22 years. and as my colleague michelle fleury explains, they have left the door open for more. . , ., , more. the federal reserve has moved with more. the federal reserve has moved with unprecedented - more. the federal reserve has i moved with unprecedented speed to get inflation under control. since march of last year, it has raised its benchmark rate by five at a quarter percentage points. its latest move is likely to pick up the cost of borrowing for american businesses and consumers even
7.9%. but it is starting to fall and with that in mind, the market is pointing toward a 25 basis point hike more than 50 but inflation is still four times the bank of england target 2% rate so possibility of a jumbo target 2% rate so possibility ofajumbo hike target 2% rate so possibility of a jumbo hike really does still exist. of a jumbo hike really does still exist. ., ., ., still exist. fiona, always good to see you. still exist. fiona, always good to see you, thanks still exist. fiona, always good to see you, thanks to - still exist. fiona, always good to see you, thanks to joining l to see you, thanks to joining us. to the uk now where brexit campaigner nigel farage is calling for the entire board of banking giant natwest to resign after chief executive dame alison rose stepped down in the early hours of wednesday morning. dame alison has admitted she was the source of an inaccurate bbc story about the closure of mr farage s accounts at natwest s private banking arm, cou