I m ritika gupta. Welcome to business today, live from New York, us shares have made a strong start this thursday as investors wrap their heads around Thatjumbo Half Percent cut in Interest Rates from the Federal Reserve and later comments from chairjerome powell. Was it a Panic Measure in response to a sharp slowdown in the economy . Traders remember similar moves just before the Dotcom Crash the Global Financial Crisis and the pandemic. Well, in his Press Conference Mr powell was keen to dispel any such negative thoughts. The us economy is in a good place and our Decision Today is designed to keep it there. More specifically the economy is growing at a solid pace. Inflation is coming down closer to our 2 objective over time and the Labour Market is still in solid shape. Our intention is really to maintain the strength that we currently see in the us economy. Lets bring in steven schoenfeld, ceo of financial Data Provider marketvectors here in New York. We see equities rallying today.
Caution at the Bank Of England. It keeps Interest Rates on hold but the governor tells us they are optimistic that Borrowing Costs are on the Path Down. Over on Wall Street though the party is back on. Shares hit a new Record High as the fed says the economys in a good place despite Itsjumbo Rate cut billion dollar breaks Australias Economy rides a wave of interest in surfing. It is the government fully with the sport . All those puns to come a little later in the programme. We start here in the uk where the bank of England Governor Andrew Bailey has said Interest Rates are now gradually on the Path Down despite the Banks Decision to keep the cost of borrowing on hold today. The banks main rate was left at 5 after it was cut last month for the first time in more than four years. The bank ratcheted up Interest Rates to try and control inflation which hit a peak of 11. 1 back in 2022. Since then inflation has been brought down significantly its sitting just above the banks target curre
And another vaccine, developed by us manufacturerjohnson johnson, is the latest to prove effective in phase three trials. In other news primary schools in wales could re open to all pupils after half term, though the nationwide lockdown will continue. Thousands of volunteers helping the nhs with the Vaccine Roll Out will be prioritised for a jab. Hello to you, welcome to bbc news. The European Union has introduced Export Controls on Coronavirus Vaccines. Individual Member States will decide whether to allow exports of vaccines produced in their territory. A European Commissioner said it was being introduced to enhance transparency and to ensure that all eu citizens had access to vaccines. A European Commissioner, valdis dombrovskis, made the Announcement A little earlier this afternoon. The protection and safety of our citizens is a priority. And the challenges we now face left us with no other choice but to act. Vaccines are key to the recovery, and to bringing the pandemic under cont
The announcement. Unprecedented that there should be a rich abundance of approaches, all of which rich abundance of approaches, all of which are rich abundance of approaches, all of which are essential. And new data shows another covid 19 vaccine developed in the us that may only require a single dose is 66 effective. In other news, primary schools in wales could re open to all pupils after half term though the nationwide lockdown will continue. And thousands of volunteers helping the nhs with the Vaccine Roll Out will be prioritised for a jab. Hello, and a very good afternoon. The European Medicines Agency is expected to approve the Oxford Astrazeneca Covid Vaccine for use in the eu this afternoon. The uk has been using the Astrazeneca Jab in its Mass Immunisation Programme for weeks now. Meanwhile, the European Commission has published a redacted version of its contract with the pharmaceutical giant in a continuing row about supplies of the vaccine. A contract was signed in august fo
Participating in the trial. We want to break it down more. What do we know . What are the questions . Reporter pfizer is telling us they have a vaccine that appears to be more than 90 effective. They studied this immunization in 43,000 people, and within about a week after the second dose, they found that more than 90 of people who got the vaccine were protected against the actual coronavirus. Know that it didnt take very long. We dont know the actual numbers of how we people were infected, but if we are looking at more than a 90 effectiveness rate, which was much higher than anyone expected, we are getting suggestions that this vaccine is quickly protective for many people. We still dont have news on how long it is going to last. We dont know whether or not there will be any safety signals. After that, they might be filing for emergency use authorization. Jonathan what kind of vaccine is this alix what kind of vaccine is this . Vaccine. It is an mrna theres nothing like this that exis