hello and welcome to audiences in the uk and around the world. we start here in the uk where the bank of england is poised for the biggest rise in the cost of borrowing for 27 years to rein in the soaring cost of living. economists expect the central bank to raise its main interest rate by half a percentage point something it hasn t done in one go since 1995. that would take it to 1.75% the most expensive borrowing costs the uk has seen for almost a decade and a half with further steep rises expected. it comes as a leading think tank has warned inflation could hit 15% before it starts to ease next year. george buckley is chief uk & euro area economist at the investment bank nomura. i assume you are with the majority and you think is half a percent rise today is a given? i a percent rise today is a civen? ~ , a percent rise today is a civen? ~ , ., a percent rise today is a . iven? ~ , ., ., given? i think it is going to happen. given? i think it is going to happen.
widespread and heavy for northern ireland, western scotland, a few getting in to the north west for england and wales but still dry where we need that rain. temperatures 8 111, a comfortable night ahead, and tomorrow, weather wise it s almost exactly a carbon copy repeat of what we ll have to day. we ll see further showers for scotland and northern ireland, maybe a few for the north west england and wales but the further south you go across the midlands, southern wales, east anglia and the south, it s another dry day with sunshine and temperatures not really changing much either, where the sunshine comes out it will continue to feel pretty warm. it means for the commonwealth games tomorrow, no problems for the athletics, almost perfect conditions with like winds and lots of dry weather. for the start of the week and something of a change for the north of scotland with thick cloud on the way here with thick cloud on the way here with the weather front moving in, we ll see a bi
hospice. china launches several ballistic missiles into waters around taiwan following a senior us leader s divisive visit to the island. the bbc announces an independent review into the allegations surrounding tim westwood, and his conduct when he worked for the company. and how disposable face marks are affecting birdlife in 23 countries around the world. the bank of england has given a very downbeat assessment of the state of the economy, warning that it will fall into recession this year. it forecasts the economy will shrink in the final three months of 2022, and keep on drinking until the end of next year. inflation, the rate at which prices rise, which the bank forecasts will rise to over 13%, driven by the sharp rise in energy bills. in an effort to curb soaring prices, the bank of england raised interest rates by 0.5% to i.75%, the biggest in 27 years. our economic editor has this report. prices are inflating, interest rates are going up and the economy in general is
areas that we know is forever going to areas that we know is forever going to be flood prone and there going to be flood prone and there simply is no engineering solution there simply is no engineering solution and at that point step in and solution and at that point step in and offer those people the opportunity to sell their homes back opportunity to sell their homes hack to opportunity to sell their homes back to government and move back back to government and move back to back to government and move back to other areas. thousands of eole back to other areas. thousands of people were back to other areas. thousands of people were forced - back to other areas. thousands of people were forced to - back to other areas. thousands of people were forced to leave | of people were forced to leave their homes in record breaking floods that swamped parts of eastern australia. here in windsor, the bridge, which is a main thoroughfare, was completely submerged. the waters have o
is simply unaffordable because of the flood factor. we could take a more extreme view and that is start drawing lines around areas that we know are going to be flood prone, and there is simply no engineering solution. and at that point step in and offer those people the opportunity to sell their homes to government and move to other areas. thousands of people were forced to leave their homes in record breaking floods that swamped parts of eastern australia. here in windsor, the bridge, which is a main thoroughfare, was completely submerged. the waters have obviously receded but what they have left behind is financial pain that many residents will be feeling for years. this man is working to revive his famous floating restaurant on the hawkesbury river near sydney. financially it has been an absolute disaster. as it stands, due to the floods, i haven t operated since february 2021. probably over $1 million i ve lost, three majorfloods, two lots of covid shutdowns