I strongly disagree with fitchs decision, and i believe it is entirely unwarranted. Its flawed assessment is based on outdated data, and fails to reflect improvements across a range of indicators, including those related to governance that weve seen over the past 2. 5 years. Other democrats used the downgrade as an opportunity to point the finger at republicans for their role in the recent debt limit fight. While republicans blame joe biden and democrats for trillions of dollars in new spending. Many economists dismiss the downgrade, including Jp Morgan Chase ceo jamie diamond, who called it ridiculous and said that the decision ultimately didnt really matter. And he may not be wrong. Us treasuries, that is government ious, remain the bedrock of the Global Financial system, despite this latest knock to the reputation. Expectations are high that it will raise rates again. If so, it could take the cost of borrowing up to a 15 year high. Consumer inflation has come down more than expected
Favour over the past month. Weve seen sterling rise that will help temper the Price Pressures from imports. Weve also seen other pressures in the markets where theyve been raising some questions about the Bank Of Englands credibility, as in Mortgage Rates going up without decisions being made that has all calmed down, too. And the public s expectations of where inflation is going, which were really very high, have now begun to temper. So thats also going in the banks favour. But a crucial issue is that they have raised rates by 5 the impact of that has really taken some time to filter through into the economy, there is sort of turning the type of rate rises on. Turning the tap. We are beginning to see the impact of that now weve seen in the Housing Market, weve seen it in some corporate insolvencies too. So that all leads back to this Balancing Act between crushing inflation, but avoiding a downturn its a tight rope and we are probably approaching the most narrow, trickiest part of tha
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 lets 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 fi
politicians are feeling a sense of urgency. look, we ust have to do everything of urgency. look, we ust have to do everything to of urgency. look, we just have to do everything to try - of urgency. look, we just have to do everything to try and - of urgency. look, we just have to do everything to try and getj to do everything 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. our priority in about 15 years. our priority in new south wales, and mine as the ministerfor climate the minister for climate change, is to make sure that we do our bit to reduce our emissions as quickly as possible. emissions as quickly as possible- emissions as quickly as ossible. , , . , possible. energy prices in australia possible. energy prices in australia are possible. energy prices in australia are fue
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