translation: ifeel ashamed in front of my family i m so poor, i can t afford to buy good food. my sons are really thin because they re not eating. and spain, southern france, and parts of italy swelter through an extreme heatwave authorities are warning of water shortages. hello and welcome. president biden has announced an extra $1 billion in military support for ukraine, the largest single military aid package since the war began. the us defence secretary said at a nato meeting on wednesday that he will move heaven and earth to ensure ukraine gets the weapons it needs to combat russia s invasion. in the next half hour, nato defence ministers are set to start reconvening in brussels for the final day of their summit. this is the kind of military aid ukraine says it desperately needs. a billion dollar package including longer range rockets and missile systems. the goal, to help target russian troops and location farther away and bolster ukraine s embattled defence forces, i
plus the crypto crash deepens. could it spell disaster for el salvador s multi million dollar gamble on bitcoin? we start in the us where the federal reserve has announced the biggest rise in borrowing costs in 28 years. the fed raised its key interest rate by three quarters of a percent and signalled more big increases are on the cards. as our correspondent michelle fleury reports, from washington, it s battling to control the worst inflation in four decades. intensifying its five figure inflation which is currently at a a0 year high reserve raised its key interest rate by three quarters of a percentage point to a range of 1.5 to one and three quarters of a percent, move that will push up borrowing costs for and company. us interest rates haven t been hiked by this much in one go since bill clinton was in the white house in 199a, the size of the mood something federal chair reflected on during his press conference. clearly the 75 basis point is an unusually large one a
this is bbc news with the latest business headlines for viewers in the uk and around the world. the biggest rate rise since 1994. the us federal reserve hikes borrowing costs 0.75% as inflation hits a four decade high. we at the federal bank understand the hardship high inflation has caused, we are strongly committed to bringing inflation down now we will be moving expeditiously to do so. all eyes now on the bank of england. it s expected to raise interest rates too. but will it be enough to stop the pounds downward spiral? the return of the eurozone debt crisis. europe s central bank scrambles to reassure bond markets as borrowing costs surge for italy and greece
this is bbc news with the latest business headlines for viewers in the uk and around the world. the biggest rate rise since 1994. the us federal reserve hikes borrowing costs 0.75% as inflation hits a four decade high. we at the federal bank understand the hardship high inflation has caused, we are strongly committed to bringing inflation down now we will be moving expeditiously to do so. all eyes now on the bank of england. it s expected to raise interest rates too. but will it be enough to stop the pounds downward spiral? the return of the eurozone debt crisis. europe s central bank scrambles to reassure bond markets as borrowing costs surge for italy and greece