not in line. what the bank is doing is looking back at inflation, but forward at what this rate decision may influence in terms of behaviour. i think, from last bank of england became, where they moved a 50 basis points, that was taken as a really big jump in rates. since that decision, we have seen some improvement in inflation numbers. there were still some calming for a 50 basis point change, but i think that this was more of the consensus. as you say, the balance between trying to get inflation under control, because let's not forget, that also makes people poorer in the long run, and also, making sure that there is not too much damage done to there is not too much damage done to the economy is a balancing act that they have to play. and, if you watch some of the comments andrew bailey made after the meeting, there were some pretty negative outlook in terms of gdp and the general gross scenario for the uk.— scenario for the uk. and, a fine line in terms _ scenario for the uk. and, a fine line in terms of— scenario for the uk. and, a fine line in terms of what _ scenario for the uk. and, a fine line in terms of what happens l scenario for the uk. and, a fine | line in terms of what happens to keep inflation in check without damaging economic growth. i'll be at peak rates? the damaging economic growth. i'll be at eak rates? . ~ damaging economic growth. i'll be at eak rates? ., ~ ., , �* ~ peak rates? the market doesn't think so. there peak rates? the market doesn't think s0- there is — peak rates? the market doesn't think so. there is still _ peak rates? the market doesn't think so. there is still an _ peak rates? the market doesn't think so. there is still an expectation - so. there is still an expectation built into the market that rates in the uk could get to between 5.75 and 6%. so, certainly off of some of the highs we saw earlier this year, but, still, this is not the peak at 5.25. i think that one of the key phrases that came out in the press conference is the comment that they made about interest rates being sufficiently restrictive or sufficiently restrictive or sufficiently long, and i think that the way the market has inhabited that, is that uk rates could stay higher for longer. that, is that uk rates could stay higherfor longer. we that, is that uk rates could stay higher for longer.— that, is that uk rates could stay higher for longer. we have talked at lenath on higher for longer. we have talked at length on the _ higher for longer. we have talked at length on the channel _ higher for longer. we have talked at length on the channel today - higher for longer. we have talked at length on the channel today about l length on the channel today about the impact on those with mortgages, those trying to get on the property ladder. talk to me about what this does to business investment. it makes it more expensive to borrow, invest, expand. therefore, this is where it gets really interesting, slash damaging. it has implications for the whole economy. i slash damaging. it has implications for the whole economy.— for the whole economy. i think 0 erates for the whole economy. i think operates in — for the whole economy. i think operates in general, _ for the whole economy. i think operates in general, the - for the whole economy. i think operates in general, the clientj for the whole economy. i think. operates in general, the client to advise on our business, they have been very switched on to this higher cost environment of the last 12 months. it does not mean that they are all prepared for what is coming, if there is debt maturity coming up in the next two years, they will have to be refinanced at a much higher cost than they would have borrowed two, three years ago. i don't think that that phenomenon has been completely reflected in corporate earnings, yet. but, on the other side of the coin is what impacts on business confidence and investment, and that is uncertainty. when inflation was continuing to rise as it was earlier this year, that has the same impact on business confidence. so, it is a bit of a double—edged sword when you think about it, that balance between inflation. it about it, that balance between inflation. , ~ , inflation. it is. whether it is your home finances _ inflation. it is. whether it is your home finances are _ inflation. it is. whether it is your home finances are bigger- inflation. it is. whether it is your l home finances are bigger budgets. great to speak to you. head of europe at chatham financial. next to turkey — where they are battling a fresh spike in price rises, after eight months of falling inflation. peaking at over 85% last year — it fell to 37%. but it's now up to nearly 48 per cent! turkey's central bank has more than doubled interest rates to 17 and a half percent in herfirst two meetings. a significant number! but as guido cozzi — a professor of macroeconomics — explained it relects those rising prices. it looks high, but actually, it is not. with an inflation rate of a7, 40 not. with an inflation rate of a7, a0 8%, clearly... it means a big negative difference between the interest rate and the inflation. it shows that the real interest rate is the difference between the interest rate and the expected inflation. however, that is worse, because the central bank recently predicted that it expected 58%. so, on the other side, it is a big increase from the previous trend, after winning the election, erdogan replaced the central bank and minister of finance, and a whole team of orthodox economists, and they are now leading turkey. so, we can expect, still, more increases in the interest rate, and more to come, possibly on the fiscal side. turkey ass set possibly on the fiscal side. turkey pass set of _ possibly on the fiscal side. turkey pass set of challenges _ possibly on the fiscal side. turkey pass set of challenges are - possibly on the fiscal side. turkey pass set of challenges are ratherl pass set of challenges are rather unique. notjust rising prices, but we know that the central bank reserves have fallen sharply as a country tries to prop up the lira. explain what is going on.- country tries to prop up the lira. explain what is going on. there is a clear deficit — explain what is going on. there is a clear deficit starting. _ explain what is going on. there is a clear deficit starting. a _ explain what is going on. there is a clear deficit starting. a deficit - explain what is going on. there is a clear deficit starting. a deficit in . clear deficit starting. a deficit in the public budget, so, a big deficit there, and a deficit with the current account, that is driven obviously by the trade deficit. so, with a long negative current account for more than a year, clearly, it is being exhausted, they are entering negative territory. this means higher interest rates are very important. not only to cool down demand, which is important, but also to attract capital into turkey. so that they will not run out of reserves and go bankrupt. we continue our trip around the world. to australia now — where thousands of households have faced a steep jump in energy prices in recent weeks. some have seen bills go up by a quarter as regulators set prices for the coming financial year. the government came to power promising cheaper energy by 2025 — arguing that a shift to renewable energy will be cheaper in the long run. butjuly�*s rises have been a blow to people already struggling as phil mercer reports. home should be a cosy sanctuary in sydney for dianna 0lmos. but rising costs have made electricity almost unaffordable. so she does what she can to beat the winter chill, but worries about the future. power prices will increase by 20—25%. i cannot afford that. i don't know how we are going to survive this time, with a huge cost of living rise, the rising of energy bills and, you know, really extreme weather. western sydney's first community battery stores excess solar energy from nearby houses. residents without rooftop panels can join the scheme that aims to reduce soaring bills. people need protection from the heat, from the cold, and at the end of the day, they are finding they cannot afford it. so i believe these patches right- across the board will play a dynamic role in reducing costs for our communities. j that's what it's all about. and australia's politicians are feeling a sense of urgency. look, we just have to do everything we can to try and get as much renewable energy into the ground as soon as possible. we know that's the cheapest way to replace the ageing and retiring coal—fired power. it's a complicated process, we're doing the industrial revolution in about 15 years. 0ur priority in new south wales, and mine as the minister for climate change, is to make sure we do our bit to reduce our emissions as quickly as possible. energy prices in australia are fuelled by various factors — high inflation has had a major impact. there have been expensive upgrades to ageing transmission lines and distribution networks. then there's volatility in global energy markets, caused by the war in ukraine. it's a real pressure for families and businesses, as well, to accommodate those rising costs, you know, a fifth or a quarter is a largejump. in the longer term, what we are hoping is that renewable electricity will also drive down the costs. as we become more self—sufficient in australia. the artwork for the community battery explores the indigenous concept — that it's everyone's responsibility to care for the land. phil mercer, bbc news, sydney. it isa it is a big day for attack results. some of the biggest firms will announce their attack results. michelle fleury is in new york for us. who are the big firms? apple, microsoft. _ who are the big firms? apple, microsoft, they _ who are the big firms? apple, microsoft, they are _ who are the big firms? apple, microsoft, they are the - who are the big firms? apple, microsoft, they are the big - who are the big firms? apple, - microsoft, they are the big names. it will be a big day for the us markets. take apple, not only is it a three trillion dollar... what direction a stuck waiting after these results will play out across these results will play out across the us financial markets. the case of apple, i think that we think of it as a hardware company. but, actually, most investors are going to be looking at it services business. music, streaming, fitness services, the insurance it offers as it loses or damages your phone. that side of the business has been growing steadily. that is not the case for the hardware. we think iphone sales will be down. the same for amazon. we think of it as an online retailer, it will be the cloud business everyone talks about. we are waiting to see if it says anything about its generative ai business. right now, we're all obsessed with artificial intelligence. two major tech to watch. we will see how they fare. the number of e—mail receipts i have 2am amazon and apple i have bought without knowing about it... thank you very much. that those tech firms are big service firms right now. in other news: staying the us — the number of people filing new claims for unemployment benefits rose slightly this last week. job losses injuly dropped to an ii—month low, as the labor market conditions remain tight. but the overall picture remains stable, with employers recruiting more workers, since the covid—i9 pandemic. adidas generated millions from its first "drop" of yeezy trainers after ending the collaboration with rapper and fashion designer kanye west. the sportswear giant reported sales of $a37 million from the shoes in the second quarter this year. adidas cut ties with west, known as ye, last november after he made a series of anti—semitic comments on social media. the german airline group lufthansa has posted record profits due to a surge in demand. bookings for august to december averaged more than 90% of pre—pandemic levels. airlines are cashing in on a boom in leisure travel since the easing of covid restrictions. goodbye she is 76 years old. i enjoy being amongst the fishes. pauline has been here for eight years and teaches people of all ages how to dive. she says the oldest person she has taught was 90. i dive. she says the oldest person she has taught was 90.— has taught was 90. i like helping --eole. has taught was 90. i like helping people. especially _ has taught was 90. i like helping people. especially those - has taught was 90. i like helping people. especially those who - has taught was 90. i like helping people. especially those who are nervous, those who have trouble getting into the water. 0nce nervous, those who have trouble getting into the water. once they have actually managed to get in, they come out all smiling. that is they come out all smiling. that is the best feeling. i am happy for me, for any of the other guys who have done that process. i don't dive all of the dives, but when we get there in the end... it is a good feeling. those who live with pauline adore her. they even have their own nickname for her. irate her. they even have their own nickname for her.— nickname for her. we call her grandma _ nickname for her. we call her grandma shark. _ nickname for her. we call her grandma shark. it _ nickname for her. we call her grandma shark. it we - nickname for her. we call her grandma shark. it we added i nickname for her. we call her- grandma shark. it we added onto the e-iearning~ _ grandma shark. it we added onto the e—learning. everyone who comes into diver _ e—learning. everyone who comes into dive, they— e—learning. everyone who comes into dive, they see her on the homework. everyone _ dive, they see her on the homework. everyone comes and asks to see if she is— everyone comes and asks to see if she is in — everyone comes and asks to see if she is in. ., ., ., she is in. for pauline, underneath the water. — she is in. for pauline, underneath the water, amongst _ she is in. for pauline, underneath the water, amongst the _ she is in. for pauline, underneath the water, amongst the fish - she is in. for pauline, underneath the water, amongst the fish is - she is in. for pauline, underneath i the water, amongst the fish is where she says she belongs. age isjust the water, amongst the fish is where she says she belongs. age is just a number. for more stories across uk, head to the bbc news website. the days of museums as grand intimidating places are long gone. this is something else.— intimidating places are long gone. this is something else. today, they are much more _ this is something else. today, they are much more dynamic— this is something else. today, they are much more dynamic and - this is something else. today, they i are much more dynamic and inclusive. and that radical change is what i want to celebrate. i and that radical change is what i want to celebrate.— want to celebrate. i think that is rather wonderful. _ hello from the bbc sport centre. the women's world cup has lost another heavyweight. after brazil and canada, now germany have failed to reach the knockout stage for the first time in what's being descirbed as the biggest shock the tournament's ever seen. they could only draw 1—1 with south korea in brisbane. needing a win to assure progression. the second—ranked team in the world couldn't find a winner and now they're out of a competition they've won twice. the two teams to go through were playing each other in perth. and morocco's 1—0 win over colombia, provided by anissa lahmari, was enough to send them through at the expense of germany who they lost to 6—0 in their opening game. morocco are ranked 72nd in the world. and the only one of the eight debutants to make it through to the last 16. i think we are the lowest ranked team coming into the world cup, at least one of them. come out of a group where nobody had their many hope, they lost 6—0 to germany in the first game. what was so impressive at the moroccan team is the... that they showed. the girl that wore the hijab, for the growth for the game, for whizzing does knack for muslim women, i think that is crucial going forward. so here they are taking their place in the knockout stage where they'll play france. that'll be the final last 16 match. it all starts on saturday with spain against switzerland. holders the usa meet sweden on sunday, while european champions england face nigeria, one of the now three teams from africa who've qualified from the groups. that's on monday. seven time super bowl champion tom brady has become the latest high

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