right now, it sits somewhere around 4%. that s certainly better than where it was last year. somewhere above 8.5% but it is still not good enough. and it s why the fed chair jerome powell has said more interest rate hikes seem pretty likely. in may the 12 month change in the cpi came in at 4.0% and the change in the core cpi was 5.3%. inflation has moderated somewhat since the middle of last year. nonetheless, inflation pressures continue to run high and the process of getting inflation back down to 2% has a long way to go. the theory is by making it more expensive to borrow money it should cool off the economy. and ten rate hikes later, that tactic seems to be working. of course, the danger is the us economy could fall into a recession. those hawkish comments by mr powell had certainly weighed on investor minds. spell, likewise on wall street on wednesday. still staying on the topic of interest rates, it s going to be a busy day for monetary policymakers here in southeast as
james. england make a dramatic comeback against the netherlands to keep team gb s olympic hopes alive. just want to rub their noses in it. and the satirical film about race that s an early oscars favourite we sit down with its writer and director. and on newsnight at 10:30pm. we ll go deeper behind the headlines and speak live to key players the truce is over, but with thousands of civilian casualties, or israel s western allies now changing their town? israel s western allies now changing theirtown? changing israel s western allies now changing their town? changing their tone? good evening and welcome to the news at ten. israel resumed its deadly bombardment of gaza today, as a seven day ceasefire with hamas came to an end. the israeli military says it struck more than 200 of what it called terror targets . hamas, which is proscribed as a terrorist organisation by the uk government, says at least 178 people were killed. before the pause in fighting, israel s militar
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