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tv   BBC News  BBC News  December 14, 2023 11:45am-12:01pm GMT

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he was a ball boy at the etihad six years ago but turned goalscorer last night for pep guardiola's side, in what was his first team debut, as city beat red star belgrade 3—2 in serbia. as city beat red star belgrade another academy graduate, oscar bobb also scored, as did kalvin phillips, from the penalty spot, for his first goal for city. arsenal are the only other premier league side to have progressed to the knockout stages this season. please for the result and the effort from everyone on how the seniors help the young lads and of course winning helps to when and it helped us against luton and it helped us a lot again today. and hopefully for the next games. ac milan got the better of newcastle united at st james park, ending the premier league side's chances of making the knockouts. milan came back to win 2—1, afterjoelinton had them daring to dream. psg's draw with group
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winners dortmund saw the french side through, as eddie howe�*s side finished bottom of group f. you see everything that goes on the pitch and i see what goes on behind the scenes and the players and i can for them at all. —— fault them at all. i don't think we were at our absolute best tonight. i think if we had have been, we would have won the game. but i can't fault the commitment and what they're giving me, especially under the circumstances we're playing in. so that's why it's painful for me and for them, because i know how professional they are, and i know how much they want to achieve success. confirmation, then, of city progressing as group winners, along with rb leipzig — who beat young boys on wednesday. a shock for barcelona — who were beaten 3—2 antwerp — they still go through as group winners, porto progress with them, after beating shakhtar. celtic got theirfirst champions league win in ten
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years, beating feyenoord. but atletico and lazio go through in that group. and the draw for the last 16 will take place on monday. david warner put australia in front with a brilliant 174 and a stroller ended 346 for five wickets and warner is no bet on the all—time australia run skoda's rest —— one scorer less. it was their first test since they hashes last year in england. —— since they played the ashes. india and england are in action in a one—off test in mumbai. india won the toss and chose to bat. england took the first wicket but
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india progressed had a 115 run partnership and at close of play 410 runs for seven wickets. england took their first wicket for the loss of 25 runs — lauren bell bowling... smriti mandhana... the first of two wickets for her...but india passed 300 runs afterjust 60 overs — in large part thanks to the partnership of yastika bhatia and hermanpreet kaur...their partnership of 115 came to an end when kaur was run out...this, golden state warriors forward draymond green has been suspended indefinitely by the nba after striking phoenix suns player jusuf nurkic in the face. green was ejected for a third time this season, and the 18th time in his career, in the warriors�* 119—116 defeat. the nba said it had given him a rare open—ended ban because of his "repeated history
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of unsportsmanlike acts". the league said the 33—year—old would be "required to meet certain league and team conditions" before he is allowed to return to play. as you know i am not one to apologise have done but i do apologise. i'm not a flop. he was grabbing me and pulling my head back so i spun away and unfortunately i hit him. giannis antetokounmpo scored a franchise—record 64 points to help the milwaukee bucks outscore the indiana pacers 140—126 on wednesday night. antetokounmpo broke the team record of 57 set by michael redd in 2006 but at the end of the game antetokounmpo had an animated discussion with indiana star tyrese haliburton and other pacers before rushing from the court toward the indiana locker room, seemingly in search of the game ball. indiana coach rick carlisle said after the game that the pacers took the ball for oscar tshiebwe, who scored his first official nba point in the game. several of their players ended up in
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our hallway and there was a big fry car ——fracas, i don't think any punches were landed but my gentle manager got landed in the ribs by one of their players. and that's all the sport for now. in the next few minutes the bank of england will announce its latest decision over whether to hold interest rates for the third time in a row. could local hubs provide a real alternative to the daily commute? we're going to look closer at what this means for the economy and for you. the main rate is currently 5.25%, its highest level for 15 years.
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another hold may bring some relief to homeowners who have seen their mortgage rates rise but savers would be unlikely to see a boost. with more on this our chief economics correspondent, dharshini david is in the newsroom. we are expecting absently nothing, no change. people might wonder why thatis no change. people might wonder why that is given inflation has fallen backin that is given inflation has fallen back in the uk and the answer is quite simple, it is still higher than the bank of england is comfortable with and higher than its target and running arejust comfortable with and higher than its target and running are just over 4.5% on the latest figures, more than double that target. some specific areas the bank has been worried about like inflation and the service sector, your mobile phones or eating out, that kind of thing, inflation is running faster than the bank comfortable with. it also looks carefully at private sector wages. the good news is both those variables are starting to ease off so increasingly analysts are talking
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about the next move being down, bit if you are a borrower there is a catch to that because the cut in base rates may not come until early in the summer. the bank of england has warned us to expect interest rates to stay current levels for some time until they are confident that they have managed to nail that inflation problem on the head. it takes a year or two for changes in infrastructure to filter across an impact the economy overall so not much expected today but if you have a mortgage and don't forget if you have to refix a mortgage in the coming months rates will be considerably higher than a few years ago but fixed rates mortgage deals are tighter expectation of interest rates and are just about starting to ease as well.
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whatever the decision on interest rates, for millions of homeowners with a fixed rate mortgage deal that has recently come to an end they will now be seeing significantly higher monthly repayments. in fact there's a warning that nearly five million uk homeowners will see their mortgage repayments jump by hundreds of pounds over the next three years. so what should you do if this is the case for you? so it's really important they don't bury their heads in the sand and sit at home worrying about it. go and speak to an advisor. there's lots of rates available on offer through an advisor that they might not be able to get directly themselves. lots of lenders are also offering product transfers as well, and they're offering that up to six months before their current deal ends. but again, don'tjust go for that. it's really important to seek advice. there's lots of things an advisor can look at. they can look at repayment methods.
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they can look at your term. they can just make sure that for you in your personal circumstances, that they can look at a deal that is suitable for you. what's the story been for savers? well, this year has been better for you if you're putting money away, with banks and building societies under pressure to pass on higher interest rate rises to their customers. in fact currently the average easy access isa stands at over 3%, which may seem good but remember that isn't keeping up with inflation, so the value of that money is falling. so what should savers be thinking about? so when it comes to savings, it's really important that you look at what interest rate are you currently getting because interest rates have improved. so that may not have been passed on by your bank. so you really need to look at what you're currently getting. then use comparison sites to find out what is available to you and what other rates you can potentially get. and then once you've done that, look at how long are you prepared to leave that money for. because if you're the longer you're prepared to leave, then the higher rate you can potentially get. but what you don't want to do is lock that money away
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when you might need it sooner. so it's really important to make sure you get the right account for you. we are expecting another hold. that is the exterior of the bank of england live as we wait for that decision to come in. today's decision from the bank of england comes off the back of the us federal reserve voting yesterday to hold interest rates at a 22—year high for the third straight meeting. what was interesting was that policymakers signaled they expect to make three rate cuts next year. here's the federal reserve chairman jerome powell. as we approach the end of the year, it's natural to look back on the progress that has been made toward our dual mandate objectives. inflation has eased from its highs, and this has come without a significant increase in unemployment.
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that's very good news, but inflation is still too high. 0ngoing progress in bringing it down is not assured and the path forward is uncertain. as we look ahead to next year, i want to assure the american people that we're fully committed to returning inflation to our 2% goal. restoring price stability is essential to achieve a sustained period of strong labour market conditions that benefit all. since early last year, the fomc has significantly tightened the stance of monetary policy. we've raised our policy interest rate by five and a quarter percentage points and have continued to reduce our securities holdings at a brisk pace. 0ur actions have moved our policy rate well into restrictive territory, meaning that tight policy is putting downward pressure on economic activity and inflation. and the full effects of our tightening likely have not yet been felt. today we decided to leave our policy interest rate unchanged and to continue to reduce our securities holdings. given how far we have come along with the uncertainties and risks that we face, the committee
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is proceeding carefully. live now to carstenjung, a former bank of england economist and senior economist at ippr s centre for economicjustice. thank you so much forjoining us. given your expertise and the factor used to be an economist at the bank of england, what are you looking for in this announcement? mil of england, what are you looking for in this announcement?— of england, what are you looking for in this announcement? all eyes today will be on what _ in this announcement? all eyes today will be on what andrew _ in this announcement? all eyes today will be on what andrew bailey - in this announcement? all eyes today will be on what andrew bailey will. will be on what andrew bailey will say in terms of the future of interest rates, so it is actually less about what they will do today, which as you said, rates will likely stay where they are, but more will he say something on whether they will cut rates and by how much next year? markets are expecting three rate cuts next year, so it will be interesting to hear f the bank of england is now moving from this
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tightening course into a loosening course of events and that will be what we will look out for. but also it is worth highlighting if they follow the federal reserve and becoming more loose with their policy, what an abrupt change of policy, what an abrupt change of policy this was. we have seen a massive ramp up in interest rates with two thirds of the pain still to come and no changing tack pretty much —— no changing tack pretty much after picking probably shows they have gone too far and should have gone more easily. —— after they have peaked. now they probably realise it was too much of a good thing they did and it shows also we should question to some extent the approach of the bank to this inflation episode. in of the bank to this inflation
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e - isode. ., of the bank to this inflation eisode. ., . ., , of the bank to this inflation eisode. . w, ., of the bank to this inflation eisode. . u, , ., ., episode. in that case, other than these decisions _ episode. in that case, other than these decisions by _ episode. in that case, other than these decisions by central - episode. in that case, other than| these decisions by central banks, what can be done to tackle inflation and these rising prices? that what can be done to tackle inflation and these rising prices?— and these rising prices? that is a really important _ and these rising prices? that is a really important question. - and these rising prices? that is a really important question. this . really important question. this episode of inflation we know was to a very large extent driven by higher energy prices and by global supply chains gumming up after the pandemic and so this is a very different type of inflation episode than we had in the 1970s when economies were running steaming hot and the central banks did not quite appreciate that and in this different type of environment for you have very concentrated at shops hitting the economy the government can do much more so we have seen france and spain and other countries have been much more aggressive in containing energy prices than we have seen here in the uk and spain has implemented
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rent controls, temporary rent controls protecting renters. apologies for interrupting, but is expected the announcement is out the decision is to hold for a third time in a row foot of the vote was six to three, so once again it wasn't a unanimous decision. the uk interest rate has been held at 5.25%. there have been no votes for cuts. we will get more detail on that for you what about casting, giving this announcement, i would about casting, giving this announcement, iwould have about casting, giving this announcement, i would have to get your reaction right now. this announcement, i would have to get your reaction right now.— your reaction right now. this is very much _ your reaction right now. this is very much as _ your reaction right now. this is very much as expected. - your reaction right now. this is| very much as expected. people your reaction right now. this is - very much as expected. people on the bank's monetary policy committee, some of will still say inflation is not back down to target, we need to increase rates. the majority have decided that it lets just keep them
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where they are, let's keep them high

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