Bumper cut the Federal Reserve slashes the cost of borrowing by half a Percentage Point. We take a look at what this says about the us economy. And the Bank Of England are minutes away from telling us whether theyre cutting rates or not. Markets think theyre staying where they are. Welcome to business today. We start in the us, and a big move by the Central Bank in cutting the cost of borrowing for the first time in overfour years. The Federal Reserve have dropped the main Interest Rate in the worlds biggest economy by half a Percentage Point bringing it down to between 4. 75 and 5 . A drop larger than many expected with some wondering now if this reflects the scale of the problems facing the american economy or the success in getting the pace of price rises, inflation, close to the banks targets. The governor of the fed Jerome Powell says the us economy is in good shape and they intend to keep it that way. Our North America Business correspondent Ritika Gupta has the details. The Fede
Stop it is a new situation. The stop it is a new situation. The Champions League is the best the Champions League is the best competition in the world so everyone i think is ready, wants so everyone i think is ready, wants to so everyone i think is ready, wants to play, and hopefully it goes wants to play, and hopefully it goes in wants to play, and hopefully it goes in the right direction. Last years Europa League Runners Up Bayer Leverkusen Kick off their Champions League campiagn away at feyenord. After going unbeaten in the bundesliga last season, xavi Alonsos Side have already lost a game this Season But Alonso is relishing being back amongst europes elite. Champions league, it is really special, it is the big one, it is the one that everyone wants to play, and im really delighted we are back in this competition. We have a great, challenging season ahead of us and it is starting here tomorrow. It is going to be a big challenge playing against feyenoord in a great stadium, a great
I m ritika gupta. Welcome to business today, live from New York, us shares have made a strong start this thursday as investors wrap their heads around Thatjumbo Half Percent cut in Interest Rates from the Federal Reserve and later comments from chairjerome powell. Was it a Panic Measure in response to a sharp slowdown in the economy . Traders remember similar moves just before the Dotcom Crash the Global Financial Crisis and the pandemic. Well, in his Press Conference Mr powell was keen to dispel any such negative thoughts. The us economy is in a good place and our Decision Today is designed to keep it there. More specifically the economy is growing at a solid pace. Inflation is coming down closer to our 2 objective over time and the Labour Market is still in solid shape. Our intention is really to maintain the strength that we currently see in the us economy. Lets bring in steven schoenfeld, ceo of financial Data Provider marketvectors here in New York. We see equities rallying today.
Champions league and we start this competition and the Champions League is the best competition in the world. Everyone i think is ready, wants to play, and hopefully it goes on the right direction. Goes on the right direction. Arsenal Winger Bukayo Arsenal Winger Bukayo Saka is available to saka is available to play in their Champions League play in their Champions League opener at atalanta. Opener at atalanta. Saka was taken off in saka was taken off in sundays north London Derby win sundays north London Derby win at tottenham with Arsenal Boss at tottenham with Arsenal Boss Mikel Arteta saying Mikel Arteta saying he could not continue. He could not continue. Captain Martin Odegaard Captain Martin odegaard has been ruled out with has been ruled out with a significant Ankle Injury a significant Ankle Injury which arteta hopes wont have which arteta hopes wont have too much of an impact too much of an impact on their perfomances. On their perfomances. He is ourcaptain, different rightdi
terms if they refuse to appear for sentencing. nominations for the snp leadership race close at midday with humza yousaf, kate forbes and ash regan expected to appear on the ballot paper. and new research for the bbc suggests the price of pasta has nearly doubled in two years with the rate of food price rises still running at almost 17%. good morning and welcome to bbc news. president volodymyr zelensky has said ukraine will do everything it can to defeat russia this year in a statement marking the anniversary of vladimir putin s full scale invasion. ceremonies are taking place across the country remebering those killed or forced to flee from the conflict. here in the uk rishi sunak will urge allies to increase military support to ukraine during a meeting of g7 countries. there will also be a minute s silence across the uk at 11 o clock. our first report comes from james waterhouse. a thud, marking the moment when ukraine and the world. air raid siren sounds. ..changed foreve