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that wraps it up for me. right now on andrea mitchell reports, president biden boosted by the fed forecasting rate cuts in the year ahead and the chance of curbing inflation without riing rates. vladimir putin closing the year at his marathon press conference, showing no sign of abandoning his invasion of ukraine, counting on international funding for kyiv drying up. translator: coming back to the goals, they remain unchanged. today ukraine virtually produces or manufactures nothing. they have been importing things for free freeloading. it will come to an end, sooner or later. national security advisor jake sullivan in israel today, meeting with prime minister benjamin netanyahu and his war cabinet as the white house presses them to open a second gate for desperately needed aid into gaza. republicans backing the investigation of the president and his family s business dealings. republicans targeting hunter biden, who said he would testify in public but ....
to early for speculation. earlier i put that to victoria scholar is head of investment at interactive investor. the uk money markets, they are anticipating rate cuts next year but not untiljune, that is when the first rate cut is pencilled in. that was actually pushed back after today s decision, from the previous estimation that the bank of england would cut rates in may. financial markets are pricing in a one percentage point move of rate cuts in 2024, that would get down to 4.25% from where it is now. but the governor was a lot more cautious than the markets, he says the markets have their own view and he thinks it is too early to speculate about rate cuts. clearly, he s been about rate cuts. clearly, he s been a lot more dependent on the data. i think this main takeaway is that the bank of england is being more cautious in its outlook than the fed. it cautious in its outlook than the fed. , , . fed. it is interesting that the lan . ua . e fed. it is interesting that ....
latest pictures coming in of jake sullivan, his meeting there with israel s defence mr and as i was saying, president biden only a couple of days ago making his strongest comments yet of camera but talking about the indiscriminate bombing and his concern about the numbers of civilian casualties and we know that jake sullivan going there again to tel aviv with that message and also a message about what america sees as the timeline for this war compared to what israel apparently once. also, that area in the last 36 hours hit by a terrible weather that is making everything so much more difficult distressing pictures there but these are the scenes around khan younis where people are struggling with the weather as well as all of the displacement. there you see just what the conditions are like for people who have been displaced, asked to move three, four or five times now to the south of khan younis. those are some of the latest pictures. those displaced people in gaza have been s ....
all republicans in the house voted in favour of the impeachment probe. congressman and chairman of the housejudiciary committee, jim jordan, gave this reaction to reporters afterwards. the house has now spoken and i think pretty loudly and clearly with everything republican voting in favour of moving into this official inquiry phase to do oversight. when a majority of the house goes on record in support of an official impeachment inquiry with the power that resides solely in the house of representatives, i think that sends a message. our reporter helena humphrey has been following the impeachment inquiry vote on capitol hill. i asked her what comes next. for this republican party puts them on a sure footing on how they prosecute this in sense of expanded powers to request his to me by subpoena from documents then they will have the job of documents then they will have thejob of going documents then they will have the job of going through the documents the evidence decid ....
where they are, let s keep them high to show financial markets that we are serious about fighting inflation and wait until it comes down before we loosen. of course the criticism here is that, and the bank s own analysis shows that, that it takes 1.5 years for the full effect of interest rate increases to ripple through the economy, so we might well be in a situation where we have kept rates very high for quite a while and that is really pummelling the economy, we are getting low or even negative growth and inflation is even below target. so it s understandable why the bank of england is risk averse and wants to make sure inflation is squeezed out for sure, make sure inflation is squeezed out forsure, but make sure inflation is squeezed out for sure, but there is a real risk of them are leaving rates too high for too long. of them are leaving rates too high fortoo long- of them are leaving rates too high fortoo lonu. . ~ ,, . ., for too long. thank you so much for our for t ....