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May 20, 2024
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we start in the uk where the bank of england has given its strongest hint yet that interest rates could be cut this summer. ben broadbent, the number two at the central bank said earlier today in a speech that a rate cut at sometime over the summer was possible. his comments come as markets get ready for the latest inflation figures out on wednesday that are expected to show a sharp drop in inflation. let's discuss this with yael selfin — chief economist at kpmg in the uk. yael, nice to see you. so, what do you make then of mr broadbent�*s comments? you make then of mr broadbent's comments?— you make then of mr broadbent's comments? ~ ~ , comments? well, i think they were encouraging _ comments? well, i think they were encouraging to _ comments? well, i think they were encouraging to some _ comments? well, i think they were encouraging to some degree - comments? well, i think they were l encouraging to some degree because ultimately, we are expecting inflation to go down significantly, especially headline inflation. and there is a recognition that voluntary policy is relatively ti
we start in the uk where the bank of england has given its strongest hint yet that interest rates could be cut this summer. ben broadbent, the number two at the central bank said earlier today in a speech that a rate cut at sometime over the summer was possible. his comments come as markets get ready for the latest inflation figures out on wednesday that are expected to show a sharp drop in inflation. let's discuss this with yael selfin — chief economist at kpmg in the uk. yael, nice to see...
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May 22, 2024
05/24
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but of course the bank of england don't need to dance to jacob rees—mogg's tune. they don't need to dance to the conservative party's tune. and an interest rate cut would be a gift to rishi sunak. it would be signs, as he keeps saying the plan is working, but are the bank of england political? would they hold that back ? they hold that back? >> i mean, i suspect that the bank of england, inside their own hearts, would want to do the government no favours after the last few years they've had. but i think, look, i think it's just a very difficult position where you're contingent on others good fortune or making mistakes, etc. i think an awful lot of things need to go wrong for labour in the next six weeks, and an awful lot of things need to go right for the conservatives. so it's going to be a very difficult time and i wait to see what they're going to run on. >> and james, as you said a moment ago, and we've been heanng moment ago, and we've been hearing for many, many weeks as those leadership rumours, those challenges were going in with penny mordaunt put the let
but of course the bank of england don't need to dance to jacob rees—mogg's tune. they don't need to dance to the conservative party's tune. and an interest rate cut would be a gift to rishi sunak. it would be signs, as he keeps saying the plan is working, but are the bank of england political? would they hold that back ? they hold that back? >> i mean, i suspect that the bank of england, inside their own hearts, would want to do the government no favours after the last few years they've...
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May 9, 2024
05/24
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the bank of england keeps interest rates on hold. but two committee members are now voting to ease the cost of borrowing and the governor says that could come as soon as next month. and "work till you drop". a huge backlash over china's overwork culture, as one boss tells staff, "keep your phone on 2a hours a day." welcome to business today. iam i am michelle fleury. shares on wall street are opening lower this thursday — led by chip designer arm holdings — which is tumbling after its forecast for the year disappointed investors. that has hit the wider technology sector. markets have had a boost this week from growing hopes that interest rates could soon be coming down. in the uk we've had a strong hint from the bank of england that could start happening next month — more on that in a moment. martin baccardax is bureau chief at the financial news service thestreet — he's in rhode island. ifi if i could start with you with those results from arm holdings. they were hardly bad, so why
the bank of england keeps interest rates on hold. but two committee members are now voting to ease the cost of borrowing and the governor says that could come as soon as next month. and "work till you drop". a huge backlash over china's overwork culture, as one boss tells staff, "keep your phone on 2a hours a day." welcome to business today. iam i am michelle fleury. shares on wall street are opening lower this thursday — led by chip designer arm holdings — which is...
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the bank of england has obviously thought about this very hard. they take this decision independently and i would much rather that they waited until they're absolutely sure inflation is on a downward trajectory . vie and rushed into trajectory. vie and rushed into a decision that they had to reverse at a later stage. what we want is sustainably low interest rates. and i think what's encouraging is that the bank of england governor for the first time, has expressed real optimism that we're on that path. >> thousands of pro—palestinian demonstrators have gathered in the swedish city of malmo to protest against israel competing in the eurovision song contest . in the eurovision song contest. protesters dressed in palestinian colours packed the city's historic market square before a planned march through malmo. now, during a dress rehearsal last night, crowds could be heard booing israel's performance by eden golan. the second semi—final of the contest is underway. the foreign secretary says britain will not follow the us in withholding arms from
the bank of england has obviously thought about this very hard. they take this decision independently and i would much rather that they waited until they're absolutely sure inflation is on a downward trajectory . vie and rushed into trajectory. vie and rushed into a decision that they had to reverse at a later stage. what we want is sustainably low interest rates. and i think what's encouraging is that the bank of england governor for the first time, has expressed real optimism that we're on...
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May 22, 2024
05/24
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this not only a question of the print we get today but the print of the months ahead were bank of england expects it to re-accelerate be on the second half. tom: really interesting in terms of projecting forward on the inflation story for the u.k. the divergence -- i will get there, it is quite pronounced in terms of the ecb and boe in the fed on the other. we heard from christine lagarde towards the end of the day yesterday reiterating that june is likely from the ecb in terms of the cut. i guess what the question is going forward is, how do they sequence that? do they come through the months after that decision in june? are you hearing from the hawkish members from ecb saying hang on, let's hold back on this? what is your take on how it folds and how it plays out? >> i don't think they will get a rate cut in july. i think that if the ecb were to cut, it looks like the foregone conclusion. one in september and one of december to alternate meetings. a lot of that will depend on what the fed does with its policy and i think of the fed is going to hold rates this year, then i would see to r
this not only a question of the print we get today but the print of the months ahead were bank of england expects it to re-accelerate be on the second half. tom: really interesting in terms of projecting forward on the inflation story for the u.k. the divergence -- i will get there, it is quite pronounced in terms of the ecb and boe in the fed on the other. we heard from christine lagarde towards the end of the day yesterday reiterating that june is likely from the ecb in terms of the cut. i...
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May 22, 2024
05/24
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of england , they have bank of england, they have independence to keep inflation down. the bank of england failed . who gave them independence? gordon brown. what party did gordon brown. what party did gordon brown. what party did gordon brown belong to? he's a socialist independence, the bank of england, the labour party policy. it's been a dud policy and led to terrible inflation and led to terrible inflation and high interest rates. >> i'm not sure the city of london saw the independence of the bank of england as a socialist policy. >> it was. it was introduced by the labour party, wasn't a conservative party. >> the labour party do automatically. >> margaret thatcher. >> margaret thatcher. >> margaret thatcher refused to do it because she believed in democratic accountability. >> if anything, that sounds more socialist. >> no, you're accountable to your voters in a capitalist society, in a free democratic society, in a free democratic society that believes in free markets, and the labour party believes in a bureaucracy that knows best, they believe was a labour cabi
of england , they have bank of england, they have independence to keep inflation down. the bank of england failed . who gave them independence? gordon brown. what party did gordon brown. what party did gordon brown. what party did gordon brown belong to? he's a socialist independence, the bank of england, the labour party policy. it's been a dud policy and led to terrible inflation and led to terrible inflation and high interest rates. >> i'm not sure the city of london saw the...
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May 9, 2024
05/24
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bank of england ha interest the bank of england has held interest rates at 5.25% for the six time in a row, but there's a hint rates may come down in the summer. and natalie elphicke has apologised for saying her ex—husband was an easy target following his conviction for sexual assault. japan says it's to start hunting fin—whales as part of its commercial whaling operations. now with all the latest sport, here's gavin. we'll start with football and european action continues tonight — with aston villa the sole british club left in the latter stages of a competition, they're in action in the europa conference league semifinal. they have some work to do, if they're to reach the final. they trail olympiakos 4—2 before the second leg in greece, with their manager unai emery saying his side must handle a "difficult" atmosphere on what is the biggest game of their season. it will be difficult to come back, but this is a really good moment to watch, and we have to be competitive like they were at home against us, and improving on some things we didn't do. two semi—finals in the eur
bank of england ha interest the bank of england has held interest rates at 5.25% for the six time in a row, but there's a hint rates may come down in the summer. and natalie elphicke has apologised for saying her ex—husband was an easy target following his conviction for sexual assault. japan says it's to start hunting fin—whales as part of its commercial whaling operations. now with all the latest sport, here's gavin. we'll start with football and european action continues tonight — with...
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May 22, 2024
05/24
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the bank of england which had been expected to maybe make a cut in june. banks have been pushing that estimate for the first cut out. the most recent bank to do that, for there to be a snap election that makes life a lot easier because if there were to be a snap election in july as some outlets are reporting that would mean the june would be a contentious time to make a rate cut. if the cut isn't going to happen anyway that makes it may be easier to get an election out of the way. the chancellor has a difficult job in that position because if he is not to be the chancellor anymore than it falls to possibly rachel reeves, that's the person markets are anticipating would enter number 11 in the event of a snap election with a better labor result. and the imf as we know has been calling for rate cuts. trying to bring that rate all the way down to about 3.5% by the end of 2025 in order to relieve this cost-of-living crisis which is ongoing three years. caroline: let's talk about rachel reeves who is the shadow chancellor. meaning she is in the opposition party
the bank of england which had been expected to maybe make a cut in june. banks have been pushing that estimate for the first cut out. the most recent bank to do that, for there to be a snap election that makes life a lot easier because if there were to be a snap election in july as some outlets are reporting that would mean the june would be a contentious time to make a rate cut. if the cut isn't going to happen anyway that makes it may be easier to get an election out of the way. the...
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the bank of england, who she then indirectly accused of undermining the bank of england just by questioning the fact, as many people now are, as the economic affairs committee of the house of lords is cross party committee, as many investors , they are now investors, they are now questioning whether or not the bank of england is fit for purpose, not should it be independent or not. but are the group of men and women who make interest rate decisions almost all appointed by the treasury? are. is there actually enough diversity of opinion among them to come up with the right decisions, or is it groupthink? i would say as a professional analyst, it's groupthink . analyst, it's groupthink. >> and you'd think robust challenge to an institution like the bank of england would make it stronger, not weaker, if it was truly if it truly believed in what it was doing, it would welcome criticism and challenge. instead of saying, oh no, you can't possibly say anything against the bank of england. >> same, same with the office for budget responsibility, which is, of course, a whitehall based economic forec
the bank of england, who she then indirectly accused of undermining the bank of england just by questioning the fact, as many people now are, as the economic affairs committee of the house of lords is cross party committee, as many investors , they are now investors, they are now questioning whether or not the bank of england is fit for purpose, not should it be independent or not. but are the group of men and women who make interest rate decisions almost all appointed by the treasury? are. is...
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the bank of england's target is 2. but but but having said all that, i think we're getting to the point today. and i'll be reporting from the bank of england at 12 noon when the decision will be released. i think what we'll get today, stephen and ellie, is some mood music from the bank of england's monetary policy committee, saying that interest rates should be coming down soon. i do think we're going to get an interest rate cut by june or july. get an interest rate cut by june orjuly. i don't think we're or july. i don't think we're going to get three interest rate cuts in before a general election, which is what the tories have been hoping for. but we should get one and we may even get two. >> what's changed then? liam because at the start of the year it sounded very positive, didn't it? there was talk of even 5 or 6 interest rate cuts before 2025, and now we're looking at 1 or 2 because inflation has proved to be sticky, stubborn, very difficult to get down. >> it's proved to be the opposite of transit tree, which t
the bank of england's target is 2. but but but having said all that, i think we're getting to the point today. and i'll be reporting from the bank of england at 12 noon when the decision will be released. i think what we'll get today, stephen and ellie, is some mood music from the bank of england's monetary policy committee, saying that interest rates should be coming down soon. i do think we're going to get an interest rate cut by june or july. get an interest rate cut by june orjuly. i don't...
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jeff jacob, surely it's time to end the independence of the bank of england. the ostriches have had their time and have failed miserably . jeff, i think you are miserably. jeff, i think you are absolutely right. bank of england independence has not worked and is costing us a lot. the united states, the united states of america has seen a nationwide phenomenon of pro—palestine riots erupting across about 30 university campuses, with the police having to step in and making as many as 3300 arrests. students have been staging sit ins with repeated acts of vandalism and disorder. the activists have said they are protesting against their institutions doing business with israel, or companies linked to its military. but some of the protesters have seemingly become so consumed by the cause that they themselves believe their actually in gaza. as one of them said to reporters, do you want students to die of dehydration and starvation or get severely ill even if they disagree with you? if the answer is no, then you? if the answer is no, then you should allow basic. i me
jeff jacob, surely it's time to end the independence of the bank of england. the ostriches have had their time and have failed miserably . jeff, i think you are miserably. jeff, i think you are absolutely right. bank of england independence has not worked and is costing us a lot. the united states, the united states of america has seen a nationwide phenomenon of pro—palestine riots erupting across about 30 university campuses, with the police having to step in and making as many as 3300...
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bank of england have made some terrible, terrible decisions. obr have, but they're in the business of forecasting . business of forecasting. >> still, what i really want to ask you is, as a former labour adviser, the labour party is going to get in possibly at an election and if it did, it would then have all this money that it would say we're going to hold the bonds to maturity. we're not going to make tax payers pay £179 billion bingo funds, all their expenditure . their expenditure. >> well, i think that my opinion is, as you said , that, you know, is, as you said, that, you know, you have the european central bank and then you have the swiss national bank as well. and they don't they don't pay all of that. >> that's right. >> that's right. >> they don't they for once, i agree with the european central bank. >> yes. unusual. yes. >> yes. unusual. yes. >> so why is it that in the uk we are not using that money for, you know, schools or hospitals or all of these other problems that we have . that we have. >> but because joe's point is a very
bank of england have made some terrible, terrible decisions. obr have, but they're in the business of forecasting . business of forecasting. >> still, what i really want to ask you is, as a former labour adviser, the labour party is going to get in possibly at an election and if it did, it would then have all this money that it would say we're going to hold the bonds to maturity. we're not going to make tax payers pay £179 billion bingo funds, all their expenditure . their expenditure....
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May 10, 2024
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jeremy hunt has warned the bank of england of the delicate balancing act needed to cut interest rates, whilst keeping inflation under control. we're going to have a bit more of that later. the daily telegraph hunt urges bank not to rush rate cuts. bailey hints that borrowing costs could fall next month , in a potential fall next month, in a potential boost for rishi sunak , and, here boost for rishi sunak, and, here we go. they've already got something on the front of the telegraph there, but i'll whizz over to the mail, worst whooping cough outbreak in 40 years. so that's the same as the metro now, right? i'm going to reintroduce my wonderful panel to the fray. of course, i am joined by the telegraph's allison pearson. i've also got conservative peer lord shaun bailey and former labour party adviser matthew laza . and now adviser matthew laza. and now here we go. okay, so breaking tonight. we are finally allowed tonight. we are finally allowed to talk about it. sir keir starmer will tomorrow launch labour's plans to tackle the small boat crisis. so it's a major speech on the kent coa
jeremy hunt has warned the bank of england of the delicate balancing act needed to cut interest rates, whilst keeping inflation under control. we're going to have a bit more of that later. the daily telegraph hunt urges bank not to rush rate cuts. bailey hints that borrowing costs could fall next month , in a potential fall next month, in a potential boost for rishi sunak , and, here boost for rishi sunak, and, here we go. they've already got something on the front of the telegraph there, but...
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luckily, the governor of the bank of england is saying that he's going to cut rates a lot. but today would have been a really good day. >> today would have been a good start. and it's a bit of a pity that the chancellor wants him to delay. it's really odd thing. intervention to have made slightly insane. >> i don't know if he's i don't know if he's thinking if he looks like he doesn't care. was a double bluff. it was a double bluff. that's what i think. yeah, i think the report said that the non—protected areas would have to be cut by 3.4% to leave any slack in the system. does this mean that if there's a labour government, it really will have to raise taxes to pay for all the expenditure promises that aren't enunciated line by line, but are implicit in how labour wants to change public services. >> well, at the moment there's an awful lot of there's an awful lot that you've done to, to increase to increase that burden. so so what this report seems to show to me, even if it was a quarter right, is that jeremy hunt was being incredibly reckless by cutting national insuranc
luckily, the governor of the bank of england is saying that he's going to cut rates a lot. but today would have been a really good day. >> today would have been a good start. and it's a bit of a pity that the chancellor wants him to delay. it's really odd thing. intervention to have made slightly insane. >> i don't know if he's i don't know if he's thinking if he looks like he doesn't care. was a double bluff. it was a double bluff. that's what i think. yeah, i think the report said...
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May 22, 2024
05/24
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of england — hitting the point that the bank of england would like to see it at, and that is— england would like to see it at, and that is the — england would like to see it at, and that is the measure of how quickly prices _ that is the measure of how quickly prices are — that is the measure of how quickly prices are rising, including everything from supermarket shops to energy— everything from supermarket shops to energy bills, to filling up the car or buying — energy bills, to filling up the car or buying a new telly. remember it leaped to 11.1% in october 2022 — when energy prices rocketed — this was a 40 year high and it was a shock to every household. but it has been slowing down since. last month — to its lowest rate since then — remember it hit 3.2%? although we are still needing a sitdown when we hit the supermarket tills and it's still way above the bank of england's target of 2% — that's where price rises are seen as healthy — growth that's under control. if we get back there today, it could signal to the bank of england that it's time to bring down inte
of england — hitting the point that the bank of england would like to see it at, and that is— england would like to see it at, and that is the — england would like to see it at, and that is the measure of how quickly prices _ that is the measure of how quickly prices are — that is the measure of how quickly prices are rising, including everything from supermarket shops to energy— everything from supermarket shops to energy bills, to filling up the car or buying — energy bills, to...
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May 6, 2024
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this is a busy week for europe for central banks including the bank of england and richts bank. when it kamscame to pmi, it is swinging into expansion territory at 50.5. higher than the forecast of 49.9. that is boostsing the french index. the swiss is up .13%. looking at u.s. futures. the dow is up 50 points higher. nasdaq and s&p are fractionally higher. we will continue to watch the markets. let's welcome our next guest. the cio of bank cis. charles, great to have you here. >> good morning. >> what are you seeing when it comes to the markets? we have seen a bit of a pullback and divergence from the u.s. markets and european markets. we came off a winning week in the u.s. with no clarity from the central bank there. >> we call twith the u.s. beinga moment of fatigue. there are three reasons for this. the first was the rate fears. fears we will not get any rate cut this year. the second was the oil price feel with the geopolitical tensions. there were also doubts about the earnings growth for business. what was interesting last week, we saw developments on all three counts. let
this is a busy week for europe for central banks including the bank of england and richts bank. when it kamscame to pmi, it is swinging into expansion territory at 50.5. higher than the forecast of 49.9. that is boostsing the french index. the swiss is up .13%. looking at u.s. futures. the dow is up 50 points higher. nasdaq and s&p are fractionally higher. we will continue to watch the markets. let's welcome our next guest. the cio of bank cis. charles, great to have you here. >> good...
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and as you said, if we harkened back to just 2022, what the bank of england did, refusing to return $1620000000.00 worth of that is willing gold because they say they don't recognize nikolai, from the doodle as the president in favor of one guy though, this just shows the arbitrary nature of western banking and have been politicized, been later weaponized against those they deem its enemies. so if western banking doesn't, you know, separate itself from political decisions like this, i'm afraid this is going to spell disaster for the rest of us who live in the western world, especially as bricks, nations develop their own system of currency. and that's going to counter the euro, it's going to, we can the, the us dollar as the currency do your that's yeah, that's well said, i also like the way you tried to and grinned yourself by saying nicholas, my doodle so well done there. hey, i'm around faith. you live in america? oh, great, go, sorry. the bags have a fantastic weekend. uh, by the way, thanks for it. when we come back, we're going to be taking you to take a rob here from a popular podcast or a
and as you said, if we harkened back to just 2022, what the bank of england did, refusing to return $1620000000.00 worth of that is willing gold because they say they don't recognize nikolai, from the doodle as the president in favor of one guy though, this just shows the arbitrary nature of western banking and have been politicized, been later weaponized against those they deem its enemies. so if western banking doesn't, you know, separate itself from political decisions like this, i'm afraid...
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May 22, 2024
05/24
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i and it's fallen crucially close i to the bank of england's target of 2%, just above 2.3%. so you can see why he wanted to use it to deploy that number as part - stabilisation in the economy- when you look at also the economy number that we talked about a couple of weeks ago, - showing the end of the recession at the end of last year, - actually stronger growthl than than we'd expected. | however, under the cover of that| number, underlying that number, it wasn't so great, actually, because the measures - of services inflation, _ which is what the bank of england, for example, looks at when they're setting interest rates, _ they remain stubbornly high. they fell a tiny bit to 5.9%. and that means that if you hadl the gdp numbers going the way of the government, if you like, and of recession, _ of the government, - if you like, end of recession, you had inflation coming down towards target, i if the third leg of this sorti of economic trident to take to the electorate was interest rate cuts ahead of an election, - ithat is now looking less likelyl injune than it was this mor
i and it's fallen crucially close i to the bank of england's target of 2%, just above 2.3%. so you can see why he wanted to use it to deploy that number as part - stabilisation in the economy- when you look at also the economy number that we talked about a couple of weeks ago, - showing the end of the recession at the end of last year, - actually stronger growthl than than we'd expected. | however, under the cover of that| number, underlying that number, it wasn't so great, actually, because...
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May 10, 2024
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the bank of england has obviously thought about this very hard. they take this decision independently and i would much rather that they waited until they're absolutely sure inflation is on a downward trajectory . vie and rushed into trajectory. vie and rushed into a decision that they had to reverse at a later stage. what we want is sustainably low interest rates. and i think what's encouraging is that the bank of england governor for the first time, has expressed real optimism that we're on that path. >> thousands of pro—palestinian demonstrators have gathered in the swedish city of malmo to protest against israel competing in the eurovision song contest . in the eurovision song contest. protesters dressed in palestinian colours packed the city's historic market square before a planned march through malmo. now, during a dress rehearsal last night, crowds could be heard booing israel's performance by eden golan. the second semi—final of the contest is underway. the foreign secretary says britain will not follow the us in withholding arms from
the bank of england has obviously thought about this very hard. they take this decision independently and i would much rather that they waited until they're absolutely sure inflation is on a downward trajectory . vie and rushed into trajectory. vie and rushed into a decision that they had to reverse at a later stage. what we want is sustainably low interest rates. and i think what's encouraging is that the bank of england governor for the first time, has expressed real optimism that we're on...
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May 26, 2024
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i have not seen the governor of the bank of england or the officials in the economic establishment held to account. and i think we've got a big problem when a leader with a democratic mandate is not able to deliver a set of policies that would improve the country's and yet the unelected officials who effectively undermined that policy go unquestioned. it wasn't just british institutions that had a go my policy it was the imf who didn't criticize it on financial reasons. they criticized on the grounds it was unfair. now, why is relevant to you? what elected politicians decide in britain a joe biden criticize my policy from an ice cream parlor oregon and. he you know, he said that is cutting the top of tax was wrong even though the top rate of tax in britain after my proposals was still higher than the top rate of tax in the states and i think the fact that these international bodies got involved in the pile on is very significant because i think this shows a resistance not just in the british economic establishment but in the international economic establishment to these kind supply side
i have not seen the governor of the bank of england or the officials in the economic establishment held to account. and i think we've got a big problem when a leader with a democratic mandate is not able to deliver a set of policies that would improve the country's and yet the unelected officials who effectively undermined that policy go unquestioned. it wasn't just british institutions that had a go my policy it was the imf who didn't criticize it on financial reasons. they criticized on the...
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and the lady who's done them is just about to go off to be deputy governor of the bank of england. and the bank of england has just spent a lot of time trying to work out why all its forecasts are wrong. and it seems to me, if they've been wrong for ages, getting advice from the oecd isn't particularly sensible . and then particularly sensible. and then we're going to be talking to joshua sutcliffe, who's coming into the studio , who's the into the studio, who's the teacher who misgendered a pupil. and this is really interesting because, everyone's view seems to have changed since the cast report came out. there's been a sudden change in screeching u—turns , screeching u—turn, even u—turns, screeching u—turn, even senior politicians who couldn't tell you know, what a woman is and what a man is. so fascinating. things have been been happening. and so i'm going to be talking to him and finding out what he's had to go through and where his legal challenges at the moment. and you're also we speak to ministerjosh caplan a moment ago. >> you're also, i believe, addressing these p
and the lady who's done them is just about to go off to be deputy governor of the bank of england. and the bank of england has just spent a lot of time trying to work out why all its forecasts are wrong. and it seems to me, if they've been wrong for ages, getting advice from the oecd isn't particularly sensible . and then particularly sensible. and then we're going to be talking to joshua sutcliffe, who's coming into the studio , who's the into the studio, who's the teacher who misgendered a...
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May 10, 2024
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that could suggest we are moving closer to seeing the bank of england cutting rates. let me put it into context for you, here in europe we have seen the swiss national bank cutting rates, the swiss national bank also cutting rates. the ecb is on track to do so in june, and now the bunch of england on track to do so this summer. what does this mean for the fed? well, it is the only major central bank at this stage that is still not sounding this dovish and still sounding quite hawkish. let's see how this will actually impact markets for the rest of the year. but there's a lot of focus on what this divergence among central banks will mean for currencies as well. >> all right, cnbc's silvia amaro live from london, thank you. have a good weekend. >>> next up here israeli prime minister benjamin netanyahu reacts to president biden's threat to with hold weapons shipments to the country over its military operation in rafah. we'll play for you his comments when we come right back. you hi when we come right back. there are places you'd like to be. like here. and here. not so m
that could suggest we are moving closer to seeing the bank of england cutting rates. let me put it into context for you, here in europe we have seen the swiss national bank cutting rates, the swiss national bank also cutting rates. the ecb is on track to do so in june, and now the bunch of england on track to do so this summer. what does this mean for the fed? well, it is the only major central bank at this stage that is still not sounding this dovish and still sounding quite hawkish. let's see...
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the inflation is full of them, but of course the, for millions above the bank of england, a target. and this is just not the time for a victory lap and pumping champagne colts because this is not move in line for the golf. it's about family finances. and the truth is, of the 14 years of conception working families and pensioners of phil was all so yeah, don't, i think rachel reads that who was, is the, the shadow child's the i for use on the, on the mean it with you politics. she would be the next person in charge of the country's finances should have parts of the labor plot to be in the election, which makes a very, very good point. i mean, i've got some numbers here just to give me the looking down for a sec. but, you know, if we look at the, you type a couple of gross debt to $2380000000.00 pounds, which is probably around that $2700000000.00, which is, which is a huge, huge amount for a country. a small does the type and not not equates to a 102.8 percent of u k g d p. which means that the government is spending more than servicing it stats, that it's actually bringing in in ter
the inflation is full of them, but of course the, for millions above the bank of england, a target. and this is just not the time for a victory lap and pumping champagne colts because this is not move in line for the golf. it's about family finances. and the truth is, of the 14 years of conception working families and pensioners of phil was all so yeah, don't, i think rachel reads that who was, is the, the shadow child's the i for use on the, on the mean it with you politics. she would be the...
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May 22, 2024
05/24
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services inflation remains sticky at just below 6% and that means the bank of england doesn't have an excuse to cut rates on during the 20th in the middle of the election campaign. 50 20th in the middle of the election cam-iain. ., 20th in the middle of the election camaiun. ., . ., campaign. so over the election campaign. _ campaign. so over the election campaign. what _ campaign. so over the election campaign, what do _ campaign. so over the election campaign, what do you - campaign. so over the election campaign, what do you think i campaign. so over the election - campaign, what do you think other key economic arguments we were here? the prime minister made his side of the argument is. he will say the recovery is starting now, don't risk the recovery with change. but from the recovery with change. but from the labour economic argument, they will be arguing that change to what has been going on, the chaotic four chancellors, three prime ministers and different changes in economic policy, stability is change. that is their argument and we were here a lot of them the coming weeks. fa
services inflation remains sticky at just below 6% and that means the bank of england doesn't have an excuse to cut rates on during the 20th in the middle of the election campaign. 50 20th in the middle of the election cam-iain. ., 20th in the middle of the election camaiun. ., . ., campaign. so over the election campaign. _ campaign. so over the election campaign. what _ campaign. so over the election campaign, what do _ campaign. so over the election campaign, what do you - campaign. so over...
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May 20, 2024
05/24
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the bank of england has given its strongest hint yet that interest rates could be cut this summer. in a speech, the deputy governor ben broadbent said lowering rates at "some time" over the next few months was "possible". the bank of england has kept interest rates at 5.25% — a 16—year high — to try to help bring down inflation. new figures due out on wednesday are expected to show inflation has dropped sharply. the king and the queen have been taking a look at this year's chelsea flower show in london ahead of its full opening tomorrow. as well as meeting growers and designers, they visited the no adults allowed garden — the first in the history of the show to be designed by children, for children, as daniela relph reports. a first visit to the most famous of flower shows in his new role as patron of the royal horticultural society. the king, a keen gardener himself, cast an expert eye over the chelsea offer. for the first time this year, young people becamejudges, to select a children's choice award. we're going around gardens and judging them to see if we like them or no
the bank of england has given its strongest hint yet that interest rates could be cut this summer. in a speech, the deputy governor ben broadbent said lowering rates at "some time" over the next few months was "possible". the bank of england has kept interest rates at 5.25% — a 16—year high — to try to help bring down inflation. new figures due out on wednesday are expected to show inflation has dropped sharply. the king and the queen have been taking a look at this...
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May 10, 2024
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we are also keeping an eye on the bond market and currency space in the situation of the bank of england decision yesterday. central bank sounded dovish than what markets were expecting. on the back of that, we are seeing a little bit more of strength when it comes to sterling against the u.s. dollar let's look at the equity space here as i said earlier, it is a positive week so far to give you an idea with yesterda yesterday's close, the stoxx 600 ended the week up more than 2% the positive moves to contribute to a hea higher end to the week. the kcac 40 in france with a similar move frank, this is on the back of the good earnings season and also the rhetoric with rate cuts in europe. >> big day in europe silvia, it has been a pleasure working here in europe with you. thank you. >>> turning attention back to the united states. the jobless claims rising to the highest level since august giving investors confidence with rate expectations. mary daly throwing cold water on the hopes. saying the central bank needs more time for higher rates to bring inflation down further >> what's important
we are also keeping an eye on the bond market and currency space in the situation of the bank of england decision yesterday. central bank sounded dovish than what markets were expecting. on the back of that, we are seeing a little bit more of strength when it comes to sterling against the u.s. dollar let's look at the equity space here as i said earlier, it is a positive week so far to give you an idea with yesterda yesterday's close, the stoxx 600 ended the week up more than 2% the positive...
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May 22, 2024
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liam, this idea will the bank of england now not touch rates during a campaign? >> i think ben's right. it's very difficult for the bank of england to make an interest rate cut that will be seen to be so political on june the 20th. that's when the next monetary policy committee meeting is. and guess what? in july there is no monetary policy committee meeting. they only meet eight months a year. so the first interest rate cut you could have had, given that inflation today was 2.3% still above target core inflation above 3. the first interest rate cut was going to be august. and i guess the whole tory strategy, to the extent which they had a strategy, was to wait and wait and wait for the bank of england to do two, maybe three interest rate cuts before november. the tory kind of, you know, fantasy pre—election , series of events pre—election, series of events was that they'd have another, budget autumn statement in september where they'd do another cut to national insurance so they could get national insurance down to 8% all the way from 12. it went from eight,
liam, this idea will the bank of england now not touch rates during a campaign? >> i think ben's right. it's very difficult for the bank of england to make an interest rate cut that will be seen to be so political on june the 20th. that's when the next monetary policy committee meeting is. and guess what? in july there is no monetary policy committee meeting. they only meet eight months a year. so the first interest rate cut you could have had, given that inflation today was 2.3% still...
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May 10, 2024
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of england's chief economist , the bank of england's chief economist, hugh pill, the bank of england's chief economist , hugh pill, says that economist, hugh pill, says that migration is fuelling the housing crisis, which i find totally ironic. you have all the young students who are open borders, pro mass migration , and borders, pro mass migration, and then the next day they complain about not being able to get houses or buy homes. >> so who would have thought a well, keir said he's going to build. i think it's a million homes. i think in their time in office, which is not that many. when you consider the numbers of people that are coming to this country, i think it was about 745,000 on the last count. so you know, millions are not going to cut it at all. >> oh, so is the police fit for purpose? this new evidence says that a third of its officers will have under four years of service next year. i don't know if you watch all these copper programs. there's one called night cops, based in brighton. they're all kids. they're all 19, 20 year old kids. so i've always said, how can you poli
of england's chief economist , the bank of england's chief economist, hugh pill, the bank of england's chief economist , hugh pill, says that economist, hugh pill, says that migration is fuelling the housing crisis, which i find totally ironic. you have all the young students who are open borders, pro mass migration , and borders, pro mass migration, and then the next day they complain about not being able to get houses or buy homes. >> so who would have thought a well, keir said he's...
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May 20, 2024
05/24
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of england's target rate of inflation. that is all from me, i will see you sooner. —— see you soon. hello from the bbc sport centre. manchester city are premier league champions for a record fourth time but, amid the celebrations, manager pep guardiola has indicated that he might be ready to move on from the etihad. his contract expires at the end of next season, and he suggested that he may struggle to find motivation to go for a fifth league title in a row. he's won 17 trophies with city since he arrived in 2016 and said yesterday that he is closer to leaving than to staying. for now though, he and manchester city fans can reflect on another glittering season. in terms of numbers, nobody has been better than us, the records, the goals, the points, four in a row. i said before, ifi goals, the points, four in a row. i said before, if i had landed here and you would say to me that i would win six premier league is, i would not believe it. we have done something unbelievable. so doubts over the future of pep guardiola at
of england's target rate of inflation. that is all from me, i will see you sooner. —— see you soon. hello from the bbc sport centre. manchester city are premier league champions for a record fourth time but, amid the celebrations, manager pep guardiola has indicated that he might be ready to move on from the etihad. his contract expires at the end of next season, and he suggested that he may struggle to find motivation to go for a fifth league title in a row. he's won 17 trophies with city...
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May 21, 2024
05/24
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that's what the bank of england would love. but actually, whether we've got some wage increases that are going to push that rate up a little bit towards the end of the year, in the us, last week's data was a bit better than expected, which has caused this nice rally in stock markets, but, again, there is some uncertainty in the outlook. some uncertainty in the outlook-— some uncertainty in the outlook. �* �* , ., outlook. all right. an yeah, thank you- _ outlook. all right. an yeah, thank you. good _ outlook. all right. an yeah, thank you. good to - outlook. all right. an yeah, thank you. good to see - outlook. all right. an yeah, | thank you. good to see you. around the world and across the uk, this is bbc news. now on to news that have got the lawyers at car—makers bmw, jaguar land rover and volkswagen extremely busy. in the us, these car giants have been found to have used components from a chinese supplier banned in america over alleged forced labour ties according to a us congressional investigation. monica miller
that's what the bank of england would love. but actually, whether we've got some wage increases that are going to push that rate up a little bit towards the end of the year, in the us, last week's data was a bit better than expected, which has caused this nice rally in stock markets, but, again, there is some uncertainty in the outlook. some uncertainty in the outlook-— some uncertainty in the outlook. �* �* , ., outlook. all right. an yeah, thank you- _ outlook. all right. an yeah, thank...
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May 27, 2024
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the bank of england and the federal reserve holding on for now. joining me now is justin urquhart—stewart, founder of regionally, an investment platform. ijust i just wanted to start with why the ecb's chief economist is signalling so publicly about this possible cut in interest rates and what those major surprises that could dislodge it could be. ~ . , , ., ., it could be. what he is trying to do is net to it could be. what he is trying to do is get to that _ it could be. what he is trying to do is get to that magic _ it could be. what he is trying to do is get to that magic word - it could be. what he is trying to do is get to that magic word which - it could be. what he is trying to do is get to that magic word which is. is get to that magic word which is confidence. at the moment what you've got is interest rates have been high compared to what people have been used to. what the —— but they want the economy to keep going and by doing that you get the consumer to be happy about moving or getting out and spending. if you can do that that i
the bank of england and the federal reserve holding on for now. joining me now is justin urquhart—stewart, founder of regionally, an investment platform. ijust i just wanted to start with why the ecb's chief economist is signalling so publicly about this possible cut in interest rates and what those major surprises that could dislodge it could be. ~ . , , ., ., it could be. what he is trying to do is net to it could be. what he is trying to do is get to that _ it could be. what he is trying...
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May 20, 2024
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lower interest rates on the horizon — the bank of england gives a strong hint of a cut this summer. the ai race heats up — microsoft prepares to unveil its latest ai products, hot off the heels of 0penai and google last week. and from wind powered ferries to electric hydrofoil boats — how the orkney islands are pioneering green sea transport. welcome to business today. i'm sally bundock. we start in the uk where the bank of england has given its strongest hint yet that interest rates could be cut this summer. ben broadbent, the number two at the central bank said earlier today in a speech that a rate cut at sometime over the summer was possible. his comments come as markets get ready for the latest inflation figures out on wednesday that are expected to show a sharp drop in inflation. let's discuss this with yael selfin — chief economist at kpmg in the uk. yael, nice to see you. so, what do you make then of mr broadbent�*s comments? you make then of mr broadbent's comments?— you make then of mr broadbent's comments? ~ ~ , comments? well, i think they were encouraging _ com
lower interest rates on the horizon — the bank of england gives a strong hint of a cut this summer. the ai race heats up — microsoft prepares to unveil its latest ai products, hot off the heels of 0penai and google last week. and from wind powered ferries to electric hydrofoil boats — how the orkney islands are pioneering green sea transport. welcome to business today. i'm sally bundock. we start in the uk where the bank of england has given its strongest hint yet that interest rates...
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May 6, 2024
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the market is anticipating the bank of england would keep rates unchanged. the big ticket items here are looking to move the market across europe which is at play. frank. >> arabile gumede, thank you very much. >>> let's get a check of the corporate stories with silvana. >> good morning, frank. fed president john williams says the 2% inflation target from the fed is critical for the economy and achieving surprise stability. the comments coming as the fed is calling to overhaul policy. speaking at stanford on friday, williams said setting a longer inflation target and taking action is key to anchoring expectations. the fed is looking at the policy framework later this year. >>> and momenta technology has filed for an ipo here in the u.s. bloombergreports the company is working with goldman sachs and ubs and cic on a listing that may happen as soon as this year and could raise as much as $300 million in the offering. momenta was founded in 2016 from engineers of microsoft. >>> and boeing is lan launching astronauts tonight on the star liner. the program faced
the market is anticipating the bank of england would keep rates unchanged. the big ticket items here are looking to move the market across europe which is at play. frank. >> arabile gumede, thank you very much. >>> let's get a check of the corporate stories with silvana. >> good morning, frank. fed president john williams says the 2% inflation target from the fed is critical for the economy and achieving surprise stability. the comments coming as the fed is calling to...
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May 7, 2024
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mortgage rates have been on the rise again on expectations the bank of england will make fewer interest rate cuts this year. halifax says the average uk house price was up 0.1% in april, with a typical home now valued atjust under £289,000. when britain left the european union, the government said food and drink exporters had a �*golden opportunity�* to put british food at the �*top of the global menu'. but the reality is that uk food is still lagging behind its european counterparts, both in terms of sales and reputation. we sent our business reporter nick marsh to asia's leading food and drink trade show in singapore to find out why. hungry? well, you're in the right place. i'm in one of asia's food meccas, but on display is a who's who of european cuisine. and they're ready to battle it out. bite for bites. as incomes start to rise, as tastes broaden and travel becomes more common, it's an opportunity for governments not only to sell their products, but also to promote an ideal image of their country. do you think of anything in particular when you think of food from britain?
mortgage rates have been on the rise again on expectations the bank of england will make fewer interest rate cuts this year. halifax says the average uk house price was up 0.1% in april, with a typical home now valued atjust under £289,000. when britain left the european union, the government said food and drink exporters had a �*golden opportunity�* to put british food at the �*top of the global menu'. but the reality is that uk food is still lagging behind its european counterparts,...
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May 9, 2024
05/24
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buried in those words from the bank of england today, hints that rates are coming closer to being cut, and the prospects at the economy are brightening. but that won't confront those taking out loans right now. more than 30 major criminals have beenjailed after a million pounds' worth of cocaine was stolen from a violent organised crime group. the gangsters had plotted revenge against a rival gang who had stolen drugs from them, not realising the 3pp drugs from them, not realising the app they were communicating with had been hacked by police. bronagh munro reports. three masked men arrive outside a drugs stash house in liverpool. a fourth is pretending to deliver a parcel. four minutes later, they escape with the huyton firm's cocaine. police. two men in the house has been attacked with a machete and an axe. what injuries have you got, mate? sit yourself down. are you all right there, mate? yeah. a trail of blood leads to a manhole cover where the cocaine was hidden. are you in dispute with anyone? have you upset anyone lately, or has anyone got a bit of beef with you? any informatio
buried in those words from the bank of england today, hints that rates are coming closer to being cut, and the prospects at the economy are brightening. but that won't confront those taking out loans right now. more than 30 major criminals have beenjailed after a million pounds' worth of cocaine was stolen from a violent organised crime group. the gangsters had plotted revenge against a rival gang who had stolen drugs from them, not realising the 3pp drugs from them, not realising the app they...
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May 14, 2024
05/24
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., does it build on a dovish pivot from the bank of england? and underscore expectations that may be the boe can go into? european futures flat, u.k. ftse 100 lobe or zero point 2%, losses of 18 points. iron softer, the impact on mining's. a flat session, flat close to the day yesterday for u.s. stock. nasdaq eking out gains of 0.2%. losses on the nasdaq 24 points down, 0.1 percent. producer prices from the u.s. later today, -- i head of the cpi print. let's focus on the u.s. 10 year to kick things off. the benchmark, a bit of a holding pattern you would expect until the inflation print starts to build out and the story is rounded out. tuesday u.s. time and with the cpi wednesday. currently 4.48. euro-dollar one .07, brent $83 per barrel, up 0.1 percent. iron ore down by 1.7% with new concerns about real estate in china. iron ore down 1.7%. big day in terms of earnings with tencent and alibaba. avril: markets in the asia-pacific are in wait and see mode. you get the feeling it will be this way until we get the u.s. cpi print and mek has been ra
., does it build on a dovish pivot from the bank of england? and underscore expectations that may be the boe can go into? european futures flat, u.k. ftse 100 lobe or zero point 2%, losses of 18 points. iron softer, the impact on mining's. a flat session, flat close to the day yesterday for u.s. stock. nasdaq eking out gains of 0.2%. losses on the nasdaq 24 points down, 0.1 percent. producer prices from the u.s. later today, -- i head of the cpi print. let's focus on the u.s. 10 year to kick...
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but what does the bank of england got to do with oil prices? how will higher interest rates harming my family finances mean that oil prices come down? they they it doesn't, of course. they're completely unrelated . covid. but when there unrelated. covid. but when there is higher oil prices, there will be more inflation, which means it's harder for the bank of england to cut interest rates when inflation is moving away from the government's 2% target. it's currently at 3.2. rather than moving towards it. look, no one says that central banking is easy. it isn't easy, and no one says that. politics always has to be straightforward either . to be straightforward either. the mpc has got a tough job. i don't think there's going to be an interest rate cut on thursday. i do think the economy is going to show growth on friday, and there will be lots of mood music about interest rate cuts coming soon. labour doesn't want the government to have a free hit on that mood. music come at the end of the week, and that's why rachel reeves called economics and bu
but what does the bank of england got to do with oil prices? how will higher interest rates harming my family finances mean that oil prices come down? they they it doesn't, of course. they're completely unrelated . covid. but when there unrelated. covid. but when there is higher oil prices, there will be more inflation, which means it's harder for the bank of england to cut interest rates when inflation is moving away from the government's 2% target. it's currently at 3.2. rather than moving...
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eastern state with us for that, the bank of england every decision is out at 7:00 a.m. this morning we have mixed markets in the eurozone and as you can see some gains in some areas of germany but the others are lower this morning. , yesterday markets were mixed, the dow was up for a six data row capping the longest winning streak of 2024 the s&p 500 snapped a winning streak in the nasdaq slipping for a second straight session. in asia overnight markets finished like this, here you have a mixed story overnight the biggest loser was south korea down on the session, jodi the conversation only long strategic wealth partner mark tepper assistant secretary of the treasury and podcast host monica crowley and former prosecutor from acting ice director and dhs assistant secretary jonathan fahey. "mornings with maria" is live right now. ♪. maria: time for the hot topic of hour president biden tardiness economy in a cnn interview yesterday, watch this. >> consumer confidence may be no surprise it's near a two-year low with less than six months to go to election day, are you wor
eastern state with us for that, the bank of england every decision is out at 7:00 a.m. this morning we have mixed markets in the eurozone and as you can see some gains in some areas of germany but the others are lower this morning. , yesterday markets were mixed, the dow was up for a six data row capping the longest winning streak of 2024 the s&p 500 snapped a winning streak in the nasdaq slipping for a second straight session. in asia overnight markets finished like this, here you have a...
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the boe, the bank of england can cut sooner than the fed because of the economic slowdown in the uk as well as in the eurozone but i think the uk is a great example of what happens when the state is hostile to the private sector and you see that from the biter administration for sure but you see ironically from the conservative party, the party of the right in the uk has been hostile to the private sector in it's only going to get worse with labor coming in later this year, price caps, windfall taxes, tracking, net-zero, all the things that biden could only dream of, the uk, the party of the right has put these policies in place and it's been very hostile to economic growth in the private sector in general. >> you can see the impact of all of that in plain sight, let me get back to janet yellen and all her politic games, the treasury secretary is headed to arizona and as you know show speak at the mccain institute shall have a warning about the economic dangers presented by the januarn american institutions in an excerpt from her speech goes this way, i believe that democracy is cri
the boe, the bank of england can cut sooner than the fed because of the economic slowdown in the uk as well as in the eurozone but i think the uk is a great example of what happens when the state is hostile to the private sector and you see that from the biter administration for sure but you see ironically from the conservative party, the party of the right in the uk has been hostile to the private sector in it's only going to get worse with labor coming in later this year, price caps, windfall...