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we start here in the uk, where the bank of england has raised the cost of borrowing to its highest level in 13 years. the quarter of a percentage point rise, to 1.25%, was less than some were expecting. but financial markets are now betting uk interest rates will have to rise a lot further from here, to get control over soaring inflation. the worry is, too steep a rise in borrowing costs could tip the economy into recession. and the warning signs are already there. our economics editor faisal islam reports. on faisal islam reports. the outskirts of doncaster, a on the outskirts of doncaster, a successful business, the crown hotel, grappling with energy, food prices and wages going up at the same time that household income is being squeezed and now a relentless run of interest rate rises to hit some buyers on variable rate within hours. hit some buyers on variable rate within hours. with got a mortgage rate within hours. with got a mortgage and rate within hours. wi ....
Going up at the same time that household income is being squeezed and now a relentless run of interest rate rises to hit some buyers on variable rate within hours. hit some buyers on variable rate within hours. with got a mortgage rate within hours. with got a mortgage and rate within hours. with got a mortgage and the rate within hours. with got a mortgage and the very - rate within hours. with got a mortgage and the very day l rate within hours. with got a l mortgage and the very day the bank of england put the rates up bank of england put the rates up we get an e mail it s going up. ifelt to up we get an e mail it s going up. i felt to see how hitting a business with higher rates of interest which get passed on, itjust interest which get passed on, it just adds interest which get passed on, itjust adds on to all the other costs. it is a perfect storm, it is carnage. it other costs. it is a perfect storm, it is carnage.- storm, it is carnage. it is almost storm, it is carnag ....