gaza through the rafah crossing. the number of people allowed in is very small but we understand that egypt will keep the rafa crossing border open until they evacuate 7000 people. rishi sunak is giving a news conference now saying that like minded countries had reached agreement on testing new artificial intelligence models before they are released. more than all of those headline stories in a moment. firstly, let s get the business news from the day. ben thompson is here. hello, matthew. we will start with news here in the uk. uk interest rates have been left unchanged for a second consecutive month remaining at their highest level for 15 years. the bank of england held rates at 5.25%. up until september, the bank had raised rates 14 times in a row to tame soaring inflation which has been squeezing households. it has led to increases in mortgage payments but also higher savings rates. the governor of the bank of england, andrew bailey, warned of the risk of energy instabi
no big surprise there, rates on hold but what does the bank of england thing happens next because it always got its eye on the future, hasn t it? yes, you are right. we saw this second hold in a row and i think what the expectation is going forward is that we will see interest rates higherfor longer. the chief economist at the bank of england has thought about this table mountain theory where interest rates go up and they are expected to raise at this elevated level for some time before we eventually see cuts, perhaps around august of next year, even a bit later. inflation is still really high, it still at 6.7%. of course, interest rates work with a lag so a lot of the hikes that we have already seen are yet to be priced in and filtering through into the economy. if there is still going to be kate king hold in the economy in the months ahead, inflation is going to come down but not down to that target it estimated until 25. that is inflation and interest rates, talk to me abo
To have been injured. A former speaker of the House Of Lords tells the bbc that many peers contribute absolutely nothing to parliament. Good morning. Its tuesday, 21st february. Im joanna gosling. Welcome to bbc newsroom live. Hospital services in nearly two thirds of england could be cut or scaled back according to bbc analysis of local plans in different areas. Ministers argued that patients will benefit as care is brought closer to peoples homes but a major Health Think Tank has questioned the credibility of the plans. Protests outside Horton Hospital in oxfordshire just a few months ago where there are concerns about bed closures and cuts to stroke and critical care. And its not the only place. Right across england proposals for big changes are afoot in the nhs. The bbc has analysed 44 of the transformation and sustainability plans. Two thirds include either Hospital Closures or moving treatments to a different site. More than a third involve cuts to the number of hospitals providi