tightrope between not wanting to cause a huge recession, and at the same time not wanting to let inflation get out of control. but what about inflation get out of control. but what about this 4%? we heard there the recession will go to a recession, the perhaps shallower than expected. how would you consider it and what are you expecting? my consider it and what are you meeting? consider it and what are you expecting? consider it and what are you exectina? g ,, , , expecting? my guess is they are robabl expecting? my guess is they are probably done- expecting? my guess is they are probably done. if expecting? my guess is they are probably done. if you expecting? my guess is they are probably done. if you look - expecting? my guess is they are probably done. if you look at - expecting? my guess is they are | probably done. if you look at the way the forecast is at the moment, if they were to increase rates any more, inflation, although it is very high at the moment, is going to
declare victory just yet. inflationary pressures are still there, and we can see that in the data and we hear it from our agents. and we need to be absolutely sure that we really are turning the corner on inflation, and that s why we ve increased bank rate today, and that is why we will, of course, continue to monitor the data very carefully. let me just remind you how steeply interest rates have risen in recent months. today s rate hike was the tenth consecutive increase. however, for the first time in this series, the bank of england s language suggested that the job might be done, or very nearly done. let s hear from the chancellor or uk finance minister jeremy hunt on the bank s latest move. we recognise it is very difficult for families, businesses up and down the country when interest rates go up, but much harder for them would be is if we didn t take decisive steps to bring down inflation. and that s why the bank of england is absolutely right to do
what they ve done today, and we in the government must make sure we support them by what i do in the budget, to make sure that we make it easier, not harder, for them to do what we all want to do, which is to halve inflation. his labour shadow rachel reeves says she respects the independence of the bank of england, but today s increase will put even more pressure on people with mortgages . a strong economy has got to be built on a rock of fiscal- and financial responsibility. that s why the conservatives got it so wrong last year, - when they tried to push through a load of unfunded tax cuts which had disastrous consequences. the international monetary fund | pointed this week to the impact| of mortgages in the uk contributing to the worst outlook in the uk - compared to countries around i the world, so we are still feeling the effects of thosel misjudged decisions by the conservative party just last year. rachel reeves.
criteria, like in the textbook. and of course i will be for war crimes tribunals, which i know many investigations are under way already. but let me turn to 24 february, because that is the date the defence minister has said the kremlin could be preparing a major offensive. do you think ukraine is ready to combat that? offensive. do you think ukraine is ready to combat that? yes, ukraine is ready for ready to combat that? yes, ukraine is ready for any ready to combat that? yes, ukraine is ready for any development i ready to combat that? yes, ukraine is ready for any development or i ready to combat that? yes, ukraine is ready for any development or any situation. but we ask our partners to help deliver us weaponry quicker. and you know when i hear canada saying we will give ukraine for tanks or the uk saying 14 tanks i m grateful, for is better than zero, 14 is better than zero. but do you know how many tanks russia had at the start of the invasion? they went from 11 to 20,000
the day-to-day? today s rise, the brute fact is it the day-to-day? today s rise, the brute fact is it is the day-to-day? today s rise, the brute fact is it is designed - the day-to-day? today s rise, the brute fact is it is designed to - the day-to-day? today s rise, the brute fact is it is designed to hit i brute fact is it is designed to hit them, because that is what helps bring prices down. as you pointed out earlier in your segment, it is forcing people to rein in spending, which is really unfortunate. that is a fact of life. average people will feel, some people will benefit and most people will not. how feel, some people will benefit and most people will not. feel, some people will benefit and most people will not. how do you see it, we saw most people will not. how do you see it. we saw the most people will not. how do you see it, we saw the imf most people will not. how do you see it, we saw the imf saying most people will not. how do you see it, we saw the imf sayi