Caution at the Bank Of England. It keeps Interest Rates on hold but the governor tells us they are optimistic that Borrowing Costs are on the Path Down. Over on Wall Street though the party is back on. Shares hit a new Record High as the fed says the economys in a good place despite Itsjumbo Rate cut billion dollar breaks Australias Economy rides a wave of interest in surfing. It is the government fully with the sport . All those puns to come a little later in the programme. We start here in the uk where the bank of England Governor Andrew Bailey has said Interest Rates are now gradually on the Path Down despite the Banks Decision to keep the cost of borrowing on hold today. The banks main rate was left at 5 after it was cut last month for the first time in more than four years. The bank ratcheted up Interest Rates to try and control inflation which hit a peak of 11. 1 back in 2022. Since then inflation has been brought down significantly its sitting just above the banks target curre
Martha welcome i am Sandra Smith in for Neil Cavuto and this is your world. Its the day after neils exclusive interview with the Teamsters President Sean Obrien and the reverberations from sandra the Unions Lack of endorsement in the president ial race being felt across the country today. We did a lot of pulling as you know and it leaned heavily towards former President Trumpets. Very heavily. Neil and im just wondering do you look disconnected from remembers . No, deftly not disconnected from our members because look, we did extensive pulling that was important. Our goal as leaders as Union Leaders is to provide the ability for people to have a voice and provide credible information. We cannot dictate to our members, our members are sophisticated they will make their own decisions. But this is a bigger problem. You know, the democrats always taken for granted that theyll get our our vote no matter what and the republicans fancy themselves as the working party working peopleS Party. I
Good morning, welcome to cnn this morning. Great to be with you. So glad youre here. Thank you for being here. Im amara walker. Thank you for waking up with us at 7 00 this morning. We do begin with some very tragic news and the devastation in hawaii. Officials now say at least 80 people are dead. That number is expected to rise. The search teams continue to comb through the destruction. Now hawaiis Attorney General is ordering a review of the states response. And today more republican president ial contenders get ready to make their case to voters at the Iowa State Fair. Well have the latest as the candidates kick their campaigns into high gear. Plus lays down the law to President Trump during a contentious hearing. Shes putting the former president on notice about any fu future inflammatory language or intimidation of witnesses. We begin with the grim news from hawaii, where those devastating wildfires have now claimed at least 80 lives. Officials warn the death toll will likely rise
over 3% in december. we spoke to investment manager shanti kelemen. she told us the fall in shop prices is a positive development, as the bank of england weighs up when it can start cutting the cost of borrowing. i think it s absolutely good news. i mean, one quirk of psychology is that even though inflation isn t going up because prices arejust sort of constant, it might not feel a lot better because the price is still higher than it was two years ago. with the changes and how people are expecting the future to unfold, the interest rates people pay our mortgages have already fallen a bit, similarly the rates the government is paying for borrowing are also coming down a bit from last year, so that in itself will provide a little bit of relief, even before the bank of england changes interest rates. but will that downward trend in shop price inflation continue? we all know about the supply chain disruptions in the red sea. and the picture could be further complicated from toni
meaningful, i think then certainly we will have a huge reaction in the market. but for now, i don t really see anything more meaningful coming into the market. so anything more meaningful coming into the market. into the market. so we have reached the into the market. so we have reached the halfway - into the market. so we have reached the halfway point i into the market. so we have reached the halfway point of 2023. how would you describe the health of the global economy? the health of the global econom ? . v . economy? that s an intriguing question- economy? that s an intriguing question- i economy? that s an intriguing question. ithink economy? that s an intriguing question. i think throughout l question. i think throughout this year, central banks and lawmakers and policymakers have been very much focused on taming inflation, bringing inflation under control. and a lot of these banks have failed to bring inflation to the target level, which is still running quite