The core rate, stripping out those volatile elements such as fuel and rents, fell to 3. 8 from 3. 9 injanuary, but that was still higher than the 3. 7 expected. This latest data suggests there is still some stickiness with inflation that will be scrutinised by the Federal Reserve as it weighs up a highly anticipated Interest Rate cut injune. Lets head over to new york and speak to our north America Business correspondent michelle fleury. Not michelle fleury. A huge rise but not heading in the not a huge rise but not heading in the right direction . The right direction . People were hoinu to the right direction . People were heping to see the right direction . People were hoping to see more the right direction . People were hoping to see more evidence hoping to see more evidence that prices were cooling and moving in the direction they wanted, this probably goes in the negative column, inflation is a bit hotter than people would like to see, and it does not necessarily mean a different
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
headquarters in new york city. could a political battle that s splitting the republican party also influence the outcome of the actual war some republican lawmakers obviously think so, slamming ron desantis for arguing the u.s. should stop helping ukraine. what it could mean for the congress, the country and the kremlin. plus, the hugely consequential hearing on abortion happening right now in texas. how the opinion of a single judge could impact the lives and health of millions of women across the country and wall street under pressure again, with the dow falling from the opening bell, now down about 700 points, at least close to it. the new bank that investors scrutinizing and what it means for your money coming up. bus we start with the clash over america s role in ukraine, shaping up to be an early defining moment in the republican race for president. it pits ron desantis who has now aligned himself with donald trump by calling the war a territorial dispute, that th
things to know with this tuesday, march 14th. all eyes will stay on wall street where they have been locked as the race is on to avoid the collapse of other regional u.s. banks. several have been suffering steep stock drops on monday, even as the government came out, president biden himself, trying to calm nerves of financial support. all this turmoil is coming as the fed is awaiting a highly-anticipated inflation report that we re expected to get this morning. no relief. what is going on? dualing storms set to pound the east and the west coast, both coasts, nor easter forecast to bring heavy rain, wind, snow to millions in the northeast. california bracing for yet another round of severe flooding. also this, governor ron desantis breaking from many in his own party on the war in ukraine. likely presidential candidate told fox news that protecting ukraine is not vital to u.s. interests. instead, he called it is a distraction to bigger challenges here at home. also, sena
hello, i m abby phillip in washington. thank you for joining us today. it is the nightmare that just won t end. southwest airlines canceling thousands more flights with airports coast to coast already packed. more than 4,800 flights today and tomorrow no longer on the books, nearly 16,000 canceled since thursday. all week we have been meeting miserable passengers and southwest says it ll be days before this all clears up. busloads of stranded customers arriving at houston hobby airport this morning, some on the road for more than 24 hours and at chicago midway, this is the sea of luggage that is finally moving. workers are now scrambling to reunite passengers with their bags. we ll begin with cnn s nick valencia at hartsfield jackson international airport in atlanta. another major connecting point for southwest nick, what is happening there behind you? reporter: yeah, hey there, abby. the line here behind me is noticeably shorter than it has been the last several days and t