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From 5 to 5. 25 . And for the first time, its 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 todays 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, well hearfrom savers, as well as families trying to cope with increasing costs, but first, heres our Chief Economics correspondent dharshini david. From cafe says customers may resist rate as higher mortgage and rent payments bite, to Est ....
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the orioles. the highlight of the show for me. i like the squirrel. we will see you tomorrow. thanks so much for joining us this morning. cnn news central starts right now. look at that beautiful day out there. i love that shot of the hudson. finally making it official, florida governor ron desantis is set to launch his presidential bid today. how he changes the race as the republican field expands and what does elon musk have to do with it? shelter now. a stark warning as a typhoon packing wind gusts over 100 miles per hour barrels into land. a look at the devastation as the worst of it is hitting right now. the mar-a-lago documents case reaches a critical moment. donald trump s lawyers demand a meeting with the attorney general as the special counsel closes in on a decision about whether to charge. this is cnn news central. let the games begin. the one competitor that donald trump appears to be most focused on is about to jump in the race. florida go ....
of migrant crossings days before covid era policy ends. we are live at the border. plus, rocket systems sabotaged. sources telling cnn that russia is using electronic jammers to throw off rocket systems in ukraine in some cases causing rockets to miss their targets. how the pentagon is responding. the labor market is on fire but april surprise jobs report is complicating the fed s inflation fight. so what will the central bank do next? following these major developing stories and many more, all coming in right here to cnn news central . we begin as we often do at the u.s.-mexico border. alejandra mayorkas there for a second day now. red cross volunteers also on the ground helping out with the growing number of migrants all crossing into texas. even before title 42, as it s known, ends. that trump-era policy allowed the government to quickly turn away asylum seekers due to covid-19. that expires on thursday. border towns are bracing for an immediate surge, really ....
we aren t. we haven t spoken for quite a while. um, no, not recently. health, teaching and rail unions are to hold talks with ministers today, to try to head off another wave of industrial action. businesses will find out later, exactly how much support they ll get with their energy bills. the amount of government help available is expected to more than halve from the spring, with firms facing rapidly rising costs. thousands of supporters of the far right former brazilian president, jair bolsonaro, have attacked government buildings in the capital. drama in the fa cup in what was one of the upsets of the weekend. how stevenage of league 2 knocked out aston villa in two madcap minutes in yesterday s third round tie. good morning. if you are just stepping out is a chilly start in the east. then we are in for a day of sunshine and showers. some will be heavy and thundery. it will be breezy. the outlook for the rest of the week remains unsettled. details later in the progra ....