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the people who are affected most by high interest rates would tend to be younger households. older people, older house holders, are more likely to have paid off their mortgages they are mortgage free so they don t feel the impact of the increase in mortgage rates. you could spread the pain more broadly, so those households that, perhaps, aren t facing higher mortgage rates currently households that don t hold mortgages would potentially contribute towards the squeeze in demand by paying higher taxation. you could argue for a property tax, for example. yet there are also practical problems with using tax and spending policy to control inflation. history suggests it s hard to get the timing right, and when it comes to tax and spending political considerations often interfere unhelpfully. this is why the practice in recent decades has been to leave inflation control to the independent bank of england. however there is certainly more open thinking going on among res ....
weekend, it is almost to the west because we have a frontal system are pushing in and it will take awhile to get here but it will eventually bring some heavy thunder and rain and behind ita bring some heavy thunder and rain and behind it a westerly wind and a return to something a bit fresher but ahead of the weather front, we can see highs of 30 or 31. on sunday afternoon. to sum it up it will be very warm indeed, the knights will be humid, it could be uncomfortable for sleeping and increasing chance of thundery downpours. that is what i have got a few. thanks, ben. and that s bbc news at ten on thursday the 22nd ofjune. there s more analysis of the day s main stories on newsnight with mark urban, which isjust getting under way on bbc two. the news continues here on bbc one, as now it s time to join our colleagues across the nations and regions for the news where you are. but from the ten team, it s goodnight. if more pain for borrowers as the rates go up again. the ba ....
to manage scarce water resources . we report from murcia. also coming up: amidst the cost of living crisis, can we afford fair trade? a new report warns about our changing habits. if you justjoined us, you are in the top business stories. we be . in in the top business stories. we begin with in the top business stories. we begin with more on the deal thatis begin with more on the deal that is hope to be a breakthrough for northern ireland. as you ve been hearing, the windsor framework aims to fix post brexit trading difficulties between britain and northern ireland. the british prime minister, rishi sunak, hailed it as a decisive breakthrough . so let s look at the detail for trade. the deal creates two customs channels for goods being sent from england, wales or scotland to northern ireland. a green channel for goods intended to be used or consumed there. and a red channel for goods destined for the repbulic of ireland. here s our global trade correspondent, dharshi ....
politicsnation. tonight s lead, president biden s big speech. on tuesday evening, president biden will appear before a joint session of congress to deliver his state of the union address. many americans will be tuning in, looking for answers. those of us still mourning the death of tyre nichols at the hands of memphis police we want to hear the presidents prayer for reforming law enforcement in this country. americans also want to know how the administration will respond to a suspected chinese spy balloon the drifted across our nation s skies before being downed off the coast of the carolinas. in the president will meet to begin making the case to voters why he deserves to maintain control of the white house in 2024. a sales pitch there will no doubt include last week s strong jobs markets, a sign that the economy remains resilient, even as inflation continues to eat away at many americans paychecks. joining us to talk about all these issues and more is south carolina c ....
hello and welcome to audiences in the uk and around the world. we begin in the us where the central bank is expected to increase interest rates by another 75 basis points today which would be the fourth consecutive increase of this size. many are hoping for signs the federal reserve may soften its approach in the months ahead with markets anticipating a 0.5% rate rise in december. so what s different within the us economy that would lead the fed to change its current course? here s michelle fleury. since march the federal chair hiked the rate by three percentage points, in so doing caused more expensive loans on everything, from houses to cars and credit cards, so far they have done so without any damaging slowdown in job have done so without any damaging slowdown injob or growth wealth creation. the trouble is there is no sign of a living rolling off with consumer prices, inflation still high at over 8% and still the fed has focused on. and until it sees inflation c ....