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from 5% to 5.25%. and for the first time, it s suggested that rates will stay higher for longer in an attempt to drive down stubborn inflation the rising cost of goods and services by reducing the amount of money we have to spend. although today s increase means borrowing costs are at their highest level since 2008, it follows an era of unprecedented low rates. in previous decades, rates were much higher we can see here that in the 1980s rates got up to 18% before gradually falling. the bank today cut its forecast for economic growth, though it said the uk will avoid a recession. in a moment, we ll hearfrom savers, as well as families trying to cope with increasing costs, but first, here s our chief economics correspondent dharshini david. from cafe says customers may resist rate as higher mortgage and rent payments bite, to estate agents grappling with a sagging housing market, the hit from interest rates is clear. but for a very small minority, that impact is ....
i m liev schreiber. thanks for watching. good night. hello, and a very warm welcome to our viewers joining us here in the united states and all around the world and streaming on cnn, max next i m paula newton in new york, just ahead for us or live in paris where emmanuel macron s election gamble appears to have backfired with the french far-right taking the lead in the first row browne of voting, a campaign in turmoil. cnn learns what us president joe biden s family is telling him as he faces increasing pressure to stand aside after his disastrous debate, performance and all eyes on the u.s. supreme court and the hours ahead, we ll learn whether former president donald trump pumpkin claimed absolute immunity on his alleged efforts to undermine the results of the 2020 election and we do begin this hour in france where my colleague, max foster is live for us in paris where max, there is no mistaking the seismic shift in the political landscape. there yeah, the very firs ....
42424 evident in his family. talked about the debate and the family encouraged the president to stay in the race. there is no plan, there s nothing in the party that contribute to the solution to this the u.s. supreme forward, he said to decide whether a former u.s. president, donald trump has presidential immunity hey, before i don t think this is going to be the wind, the donald trump and many of his maga, supporters are expected here in paris unbelievable result really in many ways in the first round the election, the national rally could be position to assume power and become the first far-right party to enter french government sets the the world war hello and welcome our viewers joining us in the united states and all around the world. also streaming on cnn, max, max foster in paris, where a seismic shift in politics appears to be underway. the country s far right s leaving the first round of the national parliamentary elections with prisons the emmanuel macron ....
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