Cut of half a Percentage Point on wednesday has spurred investors sending us markets into record highs. Traders cheered the Central Banks big call cutting the main Interest Rate to between 4. 75 and 5 . Opening the door with a bang on the first rates Easing Cycle in more than four years. President biden hailed the move as good news for consumers but said there was more work to be done in taming inflation. Lets be clear. The fed lowering Interest Rate is not a declaration of victory, its a declaration of victory, its a declaration of victory, its a declaration of progress. Its a Signal Weve entered a new phase for a colony and are recovery. I believe its important for the country to recognise this process because we dont, the progress we made will remain locked in the fear of negative mindset dominating our economic outlook since the pandemic began. Fed officials have made it clear that this cut was only the beginning and investors seem to have liked what they heard. For more, lets get
There will be active recovery over the coming days and we of the bones of those who have been lost. So it will take time. To give perspective, it is going to take many years to rebuild lahaina. When you see the full extent of the destruction of lahaina it will shock you. It does appear like a bomb and fire went off, if i may. And all of those buildings, virtually, are going to have to be rebuilt. It will be a new lahaina. Lets recap the latest details from hawaii. At least 53 people are now known to have died in the fires, though weve heard the governor say that number will rise. Billions of dollars of property are also expected to be destroyed. Governor green says as many as 1,700 buildings have been destroyed and 11,000 people are still without power or water in west maui. The fires began on tuesday and Officials Say none of these fires are 100 contained. The blazes spread quickly, fuelled by strong winds generated by a hurricane over the pacific ocean. Thousands are still in emergen
first involved the deaths of 346 people in two crashes in indonesia in 2018 and ethiopia in 2019. addressing employees at its factory in washington state, where the planes are assembled, ce dave calhoun said boeing would approach the issue with complete transparency. when i got that picture, and i hope all of you in some way, i hope most of you have seen it, and those of you who haven t haven t will look at it, all i could think about was i did not know what happened to whoever was supposed to be in the seat next to that hole in the airplane. i ve got kids, grandkids, and so do you. this stuff matters. earlier i spoke to professor graham braithwaite, director of transport systems at cranfield university and asked him what he thought his demonstration would do to reassure customers and investors. i think we ve seen a big difference in the way that boeing has reacted to this event and how it reacted when we had the first two max accidents. there s clearly an acknowledgement tha
let s start in the us where inflation has been falling for the 7th month in a row. the rate forjanuary stands at 6.4% down from a peak of 9.1% injune last year. but the latest report from the us labor department also showed the pace of that slowdown is starting to ease. the bbc s north america correspondent michelle fleury reports from new york. inflation has been coming down on an annual basis. that s the good news. the bad news on a monthly basis, prices for consumer goods actually rose at the start of 2023, despite an aggressive campaign by america s central bank to bring it down. the consumer price index was up 0.5% injanuary, compared to a revised 0.1% increase in december. the cost of housing was to blame for more than half of the increase. higher food and energy prices also contributed. the stronger than expected report, coupled with a tight labour market, could force america s central bank to raise interest rates more than anticipated. and that certainly spooked i