historical rate hiking campaign hours the time to take a break and give the time to adjust to its actions that have pushed up the cost of borrowing for things like mortgages, business loans, and credit cards. the decision left the fed s benchmark at between 5% and 525%. for companies and consumers alike the pain may not be over. as fed chair jerome powell meekly during his press conference, with us inflation running above the bank s 2% target its job is not yet done. i bank s 2% target its “ob is not et done. ~ . , bank s 296 target its “ob is not yet amt yet done. i think, as anyone can see. yet done. i think, as anyone can see. not yet done. i think, as anyone can see, not a yet done. i think, as anyone can see, not a single - yet done. i think, as anyone j can see, not a single person yet done. i think, as anyone i can see, not a single person on the committee wrote down a rate cut this year. nor is it likely to be appropriate, if you think about it, inflation ha
get in touch with me on twitter @annitabbc #bbcyour questions the prime minister s expected to announce a cabinet reshuffle later this morning, as he replaces conservative party chairman nadhim zahawi. a third earthquake hit central turkey early this morning, as the rescue operation continues across the region to try to find survivors of the two massive quakes which struck yesterday. in the last few minutes, we ve learned that now more than 5,000 people are known to have died in turkey and in northern syria, with that number rising all the time. these are the scenes live in hatay in southern turkey. many images that we ve seen of the quake since yesterday morning have come from the city. you can see on the left of the screen how those buildings have been pancaked, flattened by the two huge tremors, really the 7.8 quake we heard about which struck just really the 7.8 quake we heard about which struckjust before dawn yesterday. and then a few hours later another quake of around
and the independent trade economist rebecca harding. we start here in the uk where the economy is expected to do worse than every other major advanced country this year, including russia which has been hit by a barrage of economic sanctions from the west. that s according to the international monetary fund, the imf. it said the uk economy will shrink by 0.6% in 2023, rather than grow slightly as previously predicted. here s what they ve had to say. we have a very challenging environment in the united kingdom. we have a large terms of charts meaning that an energy crisis is very strong and in a country where there is a high dependence on liquid natural gas in the high pass through of the wholesale price to the retail price and this is heading towards the cost of living crisis and we have an environment as a response to this high inflation, there was a tightening of monetary policy by the bank of england and in the uk, this fits quickly into mortgages because a lot of mortgag