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You expecting . I think there will be a rate rise and everyone you expecting . I think there will be a rate rise and everyone is a rate rise and everyone is expecting 0. 25 from the bank today. The challenge it has is that its looking at what inflation has already done and we know Interest Rate rises take quite a while to filter through. Rate rises take quite a while to filterthrough. Is rate rises take quite a while to filter through. Is any danger here that rates go too high and therefore strangle the economic recovery . There is always a risk when putting Interest Rates up, its a really hard job to do. To know that when youre putting your foot on the accelerator that is going to do the right thing because there are lots of lags in how long it takes. In general, you get the sense of the Bank Of England and the message, ....
hello, i m sally bundock, here with your top business stories. let s start with oil, because crude prices have risen some 2% after saudi arabia and opec plus countries announced they would be cutting production to stabilise oil prices. saudi arabia said it would make cuts of one million barrels per day injuly, which is around 1% of global supplies. opec plus countries which account for around a0 % of the world s crude oil said they would cut production by some 1.4 million barrels per day from the start of next year. but not all members of the cartel were happy, with nigeria and angola both wanting to raise production rather than cut it. joining me now from vienna is cornelia meyer, who s the ceo of meyer resources. always lovely to see you. talk to us about these announcements. were you expecting these new cuts to come? i expecting these new cuts to come? . , , . ., come? i was expecting them and ou come? i was expecting them and you know. come? i was expecting them and ....
which is around 1% of global supplies. opec plus countries which account for around 40% of the world s crude oil said they would cut production by some 1 point 4 million barrels per day from the start of next year. but not all members of the cartel were happy, with nigeria and angola both wanting to raise production rather than cut it. here s our middle east correspondent sameer hashmi on some what can this mean for prices around the world? here s our middle east correspondent sameer hashmi on some of the fissures within opec plus, and the differing priorities of some key members. before the meeting started on saturday, it was widely expected that the whole group would make cuts deeper prices. but that didn t happen. saudi arabia was quite keen that the whole group implements those cuts from july, but as you were mentioning, a lot of members were not in favour of that because if they cut down production, it s going to impact their oil revenues, which is going to impact ....
barrels per day injuly, which is around 1% of global supplies. opec plus countries which account for around 40% of the world s crude oil said they would cut production by some 1.4 million barrels per day from the start of next year. but not all members of the cartel were happy, with nigeria and angola both wanting to raise production rather than cut it. sameer hashmi is our middle east business correspondent. let see how prices are faring just now. brent is currently up 1.5% so far in the day but keep an eye on it because there is a lot of volatility as you might expect as investors and traders try to work out exactly what the production cut could mean. sameer hashmi is our middle east business correspondent. perhaps not unexpected, this is what we expected, it cuts production and keeps prices up and we know how reliant many are on the revenue it creates but it will not go down well around the world. two creates but it will not go down well around the world. create ....