Favour over the past month. Weve seen sterling rise that will help temper the Price Pressures from imports. Weve also seen other pressures in the markets where theyve been raising some questions about the Bank Of Englands credibility, as in Mortgage Rates going up without decisions being made that has all calmed down, too. And the public s expectations of where inflation is going, which were really very high, have now begun to temper. So thats also going in the banks favour. But a crucial issue is that they have raised rates by 5 the impact of that has really taken some time to filter through into the economy, there is sort of turning the type of rate rises on. Turning the tap. We are beginning to see the impact of that now weve seen in the Housing Market, weve seen it in some corporate insolvencies too. So that all leads back to this Balancing Act between crushing inflation, but avoiding a downturn its a tight rope and we are probably approaching the most narrow, trickiest part of tha
late to this? i played out, or which is far too late to this? late to this? i don t think it s too late. late to this? i don t think it s too late. i late to this? i don t think it s too late. i think - late to this? i don t think. it s too late. i think having late to this? i don t think i it s too late. i think having a strategy in place now is really important for the industry to understand what is the government s role going to be, what are the priorities for the sector? we will not build high end fads, as they call them, like the us and eu are committed to do, and they are committed to do, and they are committed to do, and they are committed to spending billions to do that. we have a vibrant semiconductor sector, and we are looking to invest heavily in ip. i m hoping the next part of the strategy coming from the government in the autumn will be about the manufacturing element of it. the prime minister talks about britain becoming a science and technology powerhouse we really
session, markets across asia were all a lot lower. today thatis were all a lot lower. today that is continuing. if we look at wall street, because michelle mentioned the fact there was a sell off on wall street, look at the tech waited nasdaq, down 2%. the snp 5000 the nasdaq, down 2%. the snp 5000 the snp 500 nasdaq, down 2%. the snp 5000 the snp 500 down 1.38%. let s speak to chris beauchamp, chief market analyst at ig. as far as the share markets are concerned, do you think this was an excuse to take some profits? because certainly for japan on wall street, they ve had a good run lately. exactly that, ithink had a good run lately. exactly that, i think we had a good run lately. exactly that, i think we are had a good run lately. exactly that, i think we are now - had a good run lately. exactly that, i think we are now intol that, i think we are now into august, trading moves can be exaggerated. if you look at nasdaq with tech stocks, that was up 40% on the year. this do
puzzling and unwarranted . 0ur north america business correspondent michelle fleury has more from new york. just like everybody has a credit report to determine how much they can borrow, the us government has its own credit report and for the first time since 2011 that rating has been downgraded from aaa to aa+ fitch said. the assault on the capital onjanuary 6th was a factor in its decision, contributing to what they perceive as a steady deterioration in standards of governance over the last 20 years. from wall street to washington, reaction was swift us markets tumbled, with tech stocks leading the nasdaq lower while bond investors pushed up treasury yields higher. in washington, treasury secretary janet yellen reacted with anger. i strongly disagree with fitch s decision, and i believe it is entirely unwarranted. its flawed assessment is based on outdated data and fails