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plus rising prices falling ratings. can president biden win the argument on the us economy with just days to go until the midterm elections? and a pressing crisis. the cost of olive oil set to soar with harvests shrivelled by europe s summer heatwave. hello. we start here in the uk which is now facing the longest recession since records began, a century ago. that was the bleak warning from the bank of england on thursday, as it raised interest rates to 3% to try to dampen down soaring inflation. the bank says the uk economy is already in recession, and could keep declining until the middle of 202a. the pound slumped on the news to its lowest in more than two weeks. here s our economics editor faisal islam. the end of a decade and a half of ultralow interest rates was always going to be difficult, but dealing in mortgages has in recent weeks felt more like the stock market than the housing market. , , stock market than the housing market. , , . ., , ....
Germany cannot simply afford economically to cut all the economically to cut all the economic ties with china at once, because this would really push germany into an enormous recession. so therefore it is wise from olaf scholz to continue the discussion, to keep this communication open with china, and may be to open up with china, and may be to open up the chinese economy a little bit more for western investors. but i think most importantly like we also held on the other report, that china inserts pressure on russia in order to stop the war. pressure on russia in order to step the war- stop the war. i m ust looking at the list h stop the war. i m ust looking at the list of stop the war. i m just looking at the list of business - at the list of business delegates, volkswagen, biontech who made the vaccine, is there a danger germany may prioritise economic interests above the political sort of current against china in much the same way as angela merkel came in for criticism for her ....
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