if you have just joined if you havejustjoined us it is time for the top business stories. we start here in the uk where in the next few hours the bank of england is widely expected to raise the cost of borrowing for the twelfth time in a row. the quarter percent rise most economists are predicting would take the bank s main interest rate to 4.5% the highest it has been in almost 15 years. the big question though will it be enough to start to get inflation, which is still running at more than 10% a year, under control? let s speak to katharine neiss she has held various roles at the bank of england and is now chief european economist at p gim fixed income. good to have you on the programme. iassume good to have you on the programme. i assume you are with the majority believe we are looking at a rate hike today of another 25 basis points. today of another 25 basis oints. . , today of another 25 basis oints. . , ., , points. that s right, that s the consensus p
rates to a 15 year high at 4.5% as it continues its fight against high inflation. and donald trump calls for republicans to let the us default on its debt rather than give way on biden s spending plans. hello. a warm welcome to the programme. this is world business report, i m ben thompson and we are going to start in the uk where the bank of england has raised interest rates for a 12th consecutive month. all of that as it tries to fight high inflation. uk interest rates were raised by 0.25%, while the bank said inflation would fall sharply in april but not as far or as fast as it previously thought. last month inflation slowed to 10.1% but that figure is still way above the bank of england s target. remember that target is 2%. let s speak to victorias, head of investment at interactive investor. lovely to see you. let s talk about what we have heard. first the interest rate itself because the interesting stuff is what the bank told us about what might happen next. a widely
we ll see you the week after. i m laura ingraham. this is the ingraham angle from washington tonight. thanks for sharing time with us tonight. now we thought we had reached across the aisle tonight and try our hand at jazzing up biden s 2024 pitch to the voters. first i was thinking that the man needs a campaign theme song come doesn t he? one that reflects the energy he brings to the job every day. i don t need your rocking chair i still got neon in my veins. this gray hair don t mean a thing laura: not at all. president biden needs a message that promotes his stellar commitment to growth and prosperity. the reason i m running again is because the job needs to be finished. u.s. gross domestic product slowed to an annual rate in the first quarter. economists have been expecting a growth of 2%. big morgan stanley expects the contract by 2%. you ve got interest rates that have been going up for a year now, decrease in inventory investments. that s businesses
killing people. we all right. better than you last week.ve g all right.ot t i got to go. see you . i think next week or the weekend. aft the week after. we ll see you then. we can see you there.. thanks.ingrah i m laura ingram .amis this is ingram angle fro ims ti washington tonight. thanks for spending time with us. finishing off america. that s the focus for sharing ofs angle. now, we thought we d reach across the aisle tonight and try our hand at jazzing up s biden s 2020 four pitcheds thin the voters. now first i was thinkingking the the man neededs a cas a campaigt song, doesn t he?e? one that reflects the energyon that he brings to the job every. day. i don t need your rocking chair. it s written for you . medicare got me on my back . this haired man. thin the fight. no, not at all. all right. all second, president biden needsn a message that promotes hisag stellar commitment to growth and prosperity. the reason i m runningme againsnt to grow son i m t a job to f
Illegally monopolised markets across the live Concert Industry in the United States for too long. Live nation denies that it is a monopoly and says a breakup would not mean lower Ticket Prices or fees for fans. For more on the story head over to our website where we have more analysis on the story. Tesla boss elon musk has spoken out about the biden administrations tariffs on chinese electric vehicles. Musk says he is not in favour of the measures as they will distort an already competitive market. The tariffs take effect on august one. We are keeping a close eye on the unrest in New Caledonia. The french president Emmanuel Macron has wrapped up his 24 hour visit the territory. He pledged not to force through a controversial voting reform in the territory after weeks of deadly rioting. New caledonia is also the worlds one of the worlds leading producers of nickel and accounts for 6 of global supply. Recent disruption sent nickel prices to a nine month high. I spoke to a principal analy