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BBCNEWS BBC July 4, 2024

From 5 to 5. 25 . And for the first time, its suggested that rates will stay higher for longer in an attempt to drive down stubborn inflation the rising cost of goods and services by reducing the amount of money we have to spend. Although todays increase means Borrowing Costs are at their highest level since 2008, it follows an era of unprecedented low rates. In previous decades, rates were much higher we can see here that in the 1980s rates got up to 18 before gradually falling. The bank today cut its forecast for economic growth, though it said the uk will avoid a recession. In a moment, well hearfrom savers, as well as families trying to cope with increasing costs, but first, heres our Chief Economics correspondent dharshini david. From cafe says customers may resist rate as higher mortgage and rent payments bite, to Est ....

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BBCNEWS BBC News July 7, 2024

china has launched several ballistic missiles into waters around taiwan in response to a us senator s divisive visit to the island. and how disposable facemasks are blighting birdlife in 23 countries around the world. the bank of england has predicted that the uk is set to enter a recession this autumn lasting more than a year. the bank says inflation is likely to peak at 13% by december, and today it has announced the largest rise in interest rates for 27 years. the 0.5% hike means that interest rates now stand at 1.75%. the move is part of attempts to curb spiralling inflation, by making borrowing more expensive and discouraging spending. but it means mortgages and loans will be more expensive for millions of people, as andy verity reports. rarely has the bank of england given out an economic warning this unsettling. it s not only forecasting the worst inflation in a0 years, hitting 13% in the next few months, but a full blown recession starting this autumn. that means it e ....

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BBCNEWS BBC News at Six June 4, 2024 17:10:00

In 1930. it now has some 400 shops and 12,000 workers. but some of its problems are self inflicted. last year, it was struggling to get stock, leading to empty shelves. some of its shops are now in the wrong place, as high streets have changed and that has hit footfall. and there is much more competition these days at the value end of retail, including the likes of b and m and the range and like other retailers, its costs have gone up and importantly, it was having to pay some suppliers upfront for the stock and that hit all important cash flow. it has now filed a notice to appoint administrators, a move which gives it some breathing space to try to work out a rescue deal for a chain that an awful lot of people have affection for. it has got a significant amount of interest, it says but it must be worrying for workers. . ~ says but it must be worrying for workers. ., ,, , ., ., says but it must be worrying for workers. ., ,, i. ., ,, , workers. thank you, emma simpson, there. questions ....

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