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so let s get down to business and we begin in the us where the world s most powerful central bank wraps up its monthly meeting later. it s a given the federal reserve will increase the cost of borrowing. the question is by how much. with recent inflation data flashing red the sentiment on wall street has been grim. on monday the s&p 500 entered a bear market after the index fell by more than 20% from january s recent high. our north america business correspondent, michelle fleury, has more from new york. this minnesota petrol station is letting customers know they share their frustration. skyrocketing fuel prices have helped drive up inflation, currently at a a0 year high. customers, our car coming up, ate her at her corolla and gets fuel and at $80, you can t know how much it hits home to people. how much it hits home to ”eole. ,, . , how much it hits home to n-eole. , . , ,, people. gas prices in the us hit a record people. gas prices in the us hit a record of pe ....
Are still in credibly low. what impact will this have? we are already seeing impact will this have? we are already seeing the impact will this have? we are already seeing the results - impact will this have? we are already seeing the results of| already seeing the results of their rate hikes and the expectation of it will get you to do so so as i mentioned, the market expects it to get to closer to a% by the end of next year and early next year be at a% according to market expectations of the taking rates. there are softening in the mug mortgage market, mortgages are going up, and you so early in the news that the market in the us, there is a lot of things, gdp is slowing down so we are starting to see the bite and i d be surprised if we can make it through to a% or 3.75% by the end of the year. things will slow down enough and maybe the fed will get a break if supplied on issues work themselves out. the expected path of the race is what matters, not where we are ....
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