the economy too much. to dicsuss this further i m nowjoined by the bank of england 5 former head of international surveillance, katharine neiss. she is now the chief european economist for pgim fixed income. good to have no surprise that interest rates are still rising. do you think that this is it? ~ , . ., ., is it? the banker very clear today that if inflation is it? the banker very clear today that if inflation remains - is it? the banker very clear today that if inflation remains resilientl that if inflation remains resilient at higher levels, then they could see interest rates are going higher from here. that said, to me, the really big message coming out of the bank of england today was, even in the absence of further rises in interest rates, they really see these higher interest rates that we have seen more recently as he had to say for quite some time. yes. have seen more recently as he had to say for quite some time. say for quite some time. yes, and this is taming say f
but then, if you look underneath, there is a cancelled earlier title, where he had written mongolian rhapsody. so bohemian rhapsody was originally mongolian rhapsody. so it seems. yeah. and if you love the bohemian rhapsody video, that snake bracelet and the outfits are both up for sale. so this is what you see him wearing when he s sitting at the piano. and then when he gets up singing. it s a snug fit, isn t it? yes. freddie was very slim. very slim. # real is this feeling.# and then there s the freddie look of the 80s the moustache. he goes into vests, doesn t he? yes. i remember. it sort of happened overnight, didn t it? 1979 is the change. you get the shift from the catsuits. he says goodbye to the catsuits and in come the leathers, the vinyl and the little caps. # but now the party s over. # and i m left cold sober.# and what about those parties? we invited one regular visitor to garden lodge songwriter tim rice
try. so, the race is 30 seconds - one minute. it try. so, the race is 30 seconds - one minute. it is try. so, the race is 30 seconds - one minute. it is physical- one minute. it is physical endurance. one minute. it is physical endurance. ., ., ., ., endurance. you are going through it, it s very much endurance. you are going through it, it s very much a endurance. you are going through it, it s very much a contact endurance. you are going through it, it s very much a contact sport. - it s very much a contact sport. people it s very much a contact sport. people will it s very much a contact sport. pecpte will go it s very much a contact sport. people will go into it s very much a contact sport. people will go into you, - it s very much a contact sport. people will go into you, you i it s very much a contact sport. i people will go into you, you will going people will go into you, you will going into people will go into you, you will going into people people will
your reaction to this 14th rate rise? ~ ., ., your reaction to this 14th rate rise? ~ .. ., ., rise? i think that what we are seeinu rise? i think that what we are seeing now rise? i think that what we are seeing now is rise? i think that what we are seeing now is the rise? i think that what we are | seeing now is the government flirting with recession. i think that this news will be very concerning for people across the economy, whether they are facing increased mortgage gusts, whether they are looking at those figures behind the bank s report, which is that unemployment will see a pretty sharp rise. and i think what we are seeing is, not only the bank putting operates, but the government sitting on the sidelines and not stepping in with a planet that evidently needs to come. everybody needs a country needs it. ~ ., ., , ., ~ needs it. what do you think the government needs it. what do you think the government should needs it. what do you think the government should do? - ne
thank you very much. i am making no comments about the pun in the last headline, if you missed it, she said this is a kind of magic. we start in the uk where as we ve been hearing the country s central bank has made its latest move to tame rising prices. once again, it s hiked the cost of borrowing in a widely predicted move by 0.25%. bringing the main base interest rate up to 5.25%. it s designed to tackle inflation which has started to ease but consumer prices are still rising at almost 8% a year. that s still four times the bank s target. the idea is that by raising the cost of borrowing it makes people poorer, less likely to go out and spend, and that eases demand, meaning in theory that prices fall. but it s a tricky balancing act to perform reining in inflation without hurting