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tv   BBC News  BBC News  November 28, 2018 6:50pm-7:01pm GMT

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able to provide things able to provide that kind of essential education that is needed, so essential education that is needed, so for me actually we need to pull together to make sure that on the back of this kind of results, that more needs to be done and we put more needs to be done and we put more finances and resources towards educating more people and also identifying people that are not doing these acts of discrimination. thousand of fans going to football up thousand of fans going to football up and down the country. i guess it is thread safe this is of the full extent of the issue. -- it is safe to say. i want to focus on the grassroots level because that level is the unbelief. that level of the game is that your word against my work. it is that level of the game that football itself is not doing enough. —— i'm police. you have to remember the people at those levels will seek into the bigger picture. if there is an area we need to identify, i will say it is grassroots. now two grandmasters have been batling away this afternoon to decide who will be crowned world chess champion. american fabiano caroona and norwegian magnus carlsen have been facing each other in the tie—breakers.
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culminating in a game known as "armageddon". our sport news correspondent richard conway is in central london and can give us an update... i think you have a result. there will be dancing in the streets of oslo tonight. magnus karlsson has won the world title yet again. it is taken us three weeks to get to this point. 12 tie game but the norwegian brought it up the bag in three hours today. winning the tie—break three nil, no need for armageddon in the end. he wrapped it up fairly efficiently against fabiano carauna. the world title stays with magnus carlsen. he, rock starstatus the world title stays with magnus carlsen. he, rock star status within his work, he has appeared as a guest on the simpsons, he has a fashion contract, he is friends with hollywood a—list is, this will submit his position as the number one player in the world chess. the
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sport has grand ambitions as a mind for that is been hundreds of thousands of people watching online, major taking it and i need you to the nine—game website and paying pay—per—view through the official size, the press conference going on and next to me, dissecting the past three weeks, but the main point here todayis three weeks, but the main point here today is that magnus carlsen is once again the champion of world chess. richard, thank you. they say test match last too long. before we go a reminder you can hear full commentary of liverpool's trip to paris st—germain in the champions league on bbc radio slive. all the build up from seven with updates of spurs must—win match at wembley against inter milan. follow as well on the bbc sport website and app... that's all from sportsday. we'll have more throughout the evening. welcome back, and we'll return now to brexit and the bank of england's
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assessment that withdrawing from the eu with no deal and no transition period would deliver a severe shock to the economy. mark carney says it could trigger a worse recession than after the financial crisis ten years ago. mr carney was sure to highlight that these were just scenarios but that they had considered multiple outcomes including that of a no deal. let's hear more of that analysis which he gave at the bank of england this afternoon. taken together the scenarios highlight the impact of brexit will depend on the direction and magnitude and speed of the effect of reduced openness on the eu uk economy. the direction of the effects of the reduction of the openness is clear. lower supply
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capacity, weaker demand, a lower exchange rate and higher inflation. the magnitude of these economic impacts is modelled using established empirical relationships and is disciplined by the banks sweeter economic to ensure the coherence of plausibility. —— macroeconomics. the speed of adjustment is less clear. given the lack of precedence of reduced openness, particularly amongst the economy. the worst—case scenario assumed that adjustment and the integration happens more rapidly thanit integration happens more rapidly than it has over the past decade to integration. this assumption is grounded by crosschecks including econometric models, case studies in intelligence than the banks agents across the united kingdom. the mpc and the ftc have reviewed the releva nt and the ftc have reviewed the relevant scenarios would use them as inputs in the policy deliberation. let's turn to a few key observations, starting with the economic partnership. the scenarios
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reflect government policy and a most releva nt for reflect government policy and a most relevant for the mpc. they show the sensitivities of two key elements of the new partnership get to be negotiated, such as the extent of customs and regulatory checks, the degree of nontariff barriers to services trade and the breadth of equivalence determinations for financial services. the five years under the partnership scenarios, gdp is with 1/4% and three and three quarters percent lower than it would have been if the economy had continued growing at its may 2016th the brain. relative to the bank's most the brain. relative to the bank's m ost rece nt the brain. relative to the bank's most recent forecast, inflation is lower it turned in both scenarios given the appreciation and sterling. —— may 2016 rate. it ends due to the petting effects of that appreciation and in the last close partnership scenarios as custom beverages take effect from 2021. a mechanical model
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of monetary policy generates a gently rising bank rate over this in a row. this should not be taken as a prediction of the actual path for bank rates, which with a pen and practise on the balance of the effects of the man, supply in the exchange rate. turning to no deal or no transition printed, there are a range of possible outcomes in the event of that, consistent of consistent with the fec‘s agreement, and agreement to protect and enhance the brazilian. —— no transition brexit. the ftc has focused on various, labelled disruptive and disorderly, which are underpinned by worst—case assumptions. in both scenarios, tariffs and other trade barriers are introduced suddenly next spring. the uk recognises eu product standards with the eu does not reciprocate. in a more severe or
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disorderly scenario, the uk's border infrastructure does not go smoothly with new customs requirements for some time. there is a pronounced increase in the return investors demand for holding sterling assets. by demand for holding sterling assets. by the end of 2023, gdp is more than 10% lower and this in error compared to that made 2016 trend. despite the sharp contraction in gdp, bigger than to have been during the fight crisis, unemployment rises to seven and a half percent less than during the financial crisis. that was the governor of the bank of england outlining various brexit scenarios. now it's time for a look at the weather with ben rich. good evening. after a wet wednesday for many, more turbulent weather on the way. so much so that could be trouble problems during thursday, courtesy of severe gales and heavy
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brain. bbc local radio station will keep you up—to—date. fair amount of dry weather to come, but overnight rain returns from the southwest, some of this will be happy and he wins starting to whip up again. it will be a mild night but i think it's more concerned for the other pa rt it's more concerned for the other part of the evening will be district of the wind. these are the every is most likely to see when gusts of 50 and 60 kph. —— these are the areas most likely. most exposed coastal spots could potentially see gusts in excess of 70 mph. heavy rain to come with that as well, when he elsewhere across the country, we pushed the worst of the winnifred northeastward, then left with a mix of sunshine and blustery showers and temperatures a little bit lower than they have been today. you're watching beyond 100 days. the us secretary of state is defiant, there's no direct evidence connecting the saudi crown prince to the order to murderjournalist jamal khashoggi. mike pompeo also insists the white house is not interested in taking any further action
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against the kingdom. briefing senators about the killing, mr pompeo says any further sanction against saudi arabia would just hurt us interests. brexit is bad for the economy, that's the official line. both the government and the bank of england agree that a no deal would deliver an especially severe financial shock. lower supply capacity, weaker demand, a lower exchange rate and higher inflation. also on the programme: special prosecutor bob mueller is zeroing in on the people who surrounded the president in the final months of 2016 campaign. and the contacts they had with wikileaks.
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