From 5 to 5. 25 . And for the first time, its suggested that rates will stay higher for longer in an attempt to drive down stubborn inflation the rising cost of goods and services by reducing the amount of money we have to spend. Although todays increase means Borrowing Costs are at their highest level since 2008, it follows an era of unprecedented low rates. In previous decades, rates were much higher we can see here that in the 1980s rates got up to 18 before gradually falling. The bank today cut its forecast for economic growth, though it said the uk will avoid a recession. In a moment, well hearfrom savers, as well as families trying to cope with increasing costs, but first, heres our Chief Economics correspondent dharshini david. From cafe says customers may resist rate as higher mortgage and rent payments bite, to Estate Agents grappling with a sagging housing market, the hit from Interest Rates is clear. But for a very small minority, that impact is Life Changing. Minority, that
they ve occurred in the last 18 months. we have moved. hannity: that was his first sitdown interview and a hundred and 18 days. nothing but softball questions from democratic activist pretend to be a late night comedian joe biden struggle to communicate he could barely get words out he had no answers for the economic problems that we were facing and i got a lot worse today. inflation went up yet again to an all new 41 year high 8.6%. the cost of food is up 10.1% and the cost of housing 7% rent is up in some places as high as 20%. household energy bills there up a whopping 19.1% and meanwhile the average cost for a gallon of gas has no more than doubled since joe biden took over as president now over $5 a gallon nationwide. for the first time ever remember. when he first became president on dam one you only paying $2.39 for a gallon of gasoline. now the gas of the public so high that deputies from one michigan county they are now reportedly dealing with nonurgent calls remot
have occurred in the lastey 18 months we ve moved that wasov joe biden s first sit downed interview in one hundred and eighteen days. and despite a flurry of well, nothing but softball questions from a democratic activist pretending to be a late nighted comedian, biden still struggleia to communicate he could barelyy get words out. he had noo answersword for the economic problems we are a lot worset got today. now inflation is up yet again to an all new forty one year high, eight point six percent. the the cost of food is up ten point one percent. o the cost of housing 70%f rent is up in some places as high as 20 percent. household energy bills are up a whopping nineteen point one percent. and meanwhile the average cost for a gallon off gas has nowd more than doubled since biden took over as president. now over five dollars a gallonev nationwide for the first time ever. remember when he first became president on day one you were only paying two dollars and thirty nine cents f
Over New York City, downing trees and power lines. Thousands of flights affected. And tonight here, the new outlook for memorial day across the country. Ginger is here. Also tonight, police releasing new video showing the confrontation between the worlds number one golfer, Scottie Scheffler, and a Police Officer directing traffic around a deadly accident in louisville. What the video shows. Tonight, women and Abortion Rights in this country. The Louisiana Legislature passing a first of its kind bill classifying two Abortion Pills as dangerous controlled substances. Possessing the drugs without a prescription could lead to jail time. The Justice Department filing an antitrust lawsuit to break up the Parent Company of ticketmaster, accusing live nation and ticketmaster of monopolizing the concert industry. I waited in line for, like, six hours. David youll remember the taylor swift concert tickets, the fans so upset. Tonight, the doj says live nation driving up prices. Listing the ways t
David tornadoes, damaging winds. And that thunderstorm moving over New York City, downing trees and power lines. Thousands of flights affected. And tonight here, the new outlook for memorial day across the country. Also tonight, police releasing new video showing the confrontation between the worlds number one golfer, Scottie Scheffler, and a Police Officer directing traffic around a deadly accident . Louisville. What the video shows. Tonight, women and Abortion Rights in this country. The Louisiana Legislature passing a first of its kind bill classifying two Abortion Pills as dangerous controlled substa substances. Possessing the drugs without a prescription could lead to jail time. The Justice Department filing about antitrust lawsuit to break up the Parent Company of ticketmaster, accusing them of monopolizing the concert industry. I waited in line for, like, six hours. David youll remember the taylor swift concert tickets, the fans so upset. Tonight, the doj sayingdriving tonight,