In north korea, the regime confirming for the first time it has custody of an american soldier who bolted into its territory last month. What the north is claiming he said. And back at home, Soccer Superstar lionel messi propels his miami team to new heights. We begin this morning with a Wildfire Devastation in hawaii. This morning, the white house announced President Biden and the first lady will travel to maui on monday to meet with First Responders and survivors. And as the death toll climbs to 106, were starting to learn the identities of some of the victims. They include 74yearold robert vickman, 79yearold buddy jantoc, franklin teros, who was trying to save a friends dog, Carol Hartley who lived on lahaina for 36 years and a family of four that was trying to escape. And as news crews with Cadaver Dogs Scour the area, a growing number of families are facing a grim reality, one man spoke with our affiliate khnl outside a morgue, saying he was waiting to identify his stepfathers rem
Favour over the past month. Weve seen sterling rise that will help temper the Price Pressures from imports. Weve also seen other pressures in the markets where theyve been raising some questions about the Bank Of Englands credibility, as in Mortgage Rates going up without decisions being made that has all calmed down, too. And the public s expectations of where inflation is going, which were really very high, have now begun to temper. So thats also going in the banks favour. But a crucial issue is that they have raised rates by 5 the impact of that has really taken some time to filter through into the economy, there is sort of turning the type of rate rises on. Turning the tap. We are beginning to see the impact of that now weve seen in the Housing Market, weve seen it in some corporate insolvencies too. So that all leads back to this Balancing Act between crushing inflation, but avoiding a downturn its a tight rope and we are probably approaching the most narrow, trickiest part of tha
Speaking before squeezed by massive bills, there is still Spending Power out there. A lot of our customers are probably a bit older, so we dont feel the mortgage rate, although it creates uncertainty for them and that does and we do notice when there is a rate rise, everyone gets a bitjittery. Does it feel like we are getting green shoots . I dont feel that there is green shoots, no, no. I dont feel that there is green shoots, no, no. I feel we are in a holding pattern. It could go either way. Today, the Bank Of England said the tough medicine was beginning to work. Less tha n less than two years they have over 14 steps raised Interest Rates to the highest level in 15 years in an attempt to drain Spending Powerfrom the Spending Power from the economy. The period of near zero Interest Rates now consigned to history with the bank warning that rates could remain at this level for some time. If you asked the question, yes, and when are rates going to come down . My answer is we are going t