this is bbc news. i'm tim willcox. the headlines at 8pm: the bank of england says it "won't hesitate to raise interest rates by as much as needed" to bring down inflation. it follows the pound dropping to a record low against the dollar, potentially driving up prices even further. we are trying our best to absorb what cost increases we can, but ultimately, because of the pressure the business is under, we expect to have to put prices up as a result. some lenders say they're temporarily halting new mortgage deals because of the volatility of the markets, with halifax, virgin money and skipton building society announcing changes. labour outlines its own plan for the economy at its party conference and is scathing about the government's new measures.

at the inquest into the death of molly russell, an executive from instagram's parent company, meta, insists thousands of images the teenager saw online about suicide and self—harm were safe. and science fiction made reality, as nasa plans to try to knock an asteroid off course by crashing a rocket into it. hello, welcome to the programme. the government is under pressure tonight as the financial markets give their verdict on the government's so—called mini budget last friday. the value of the pound plunged to an all time low against the us dollar this morning. tonight, a number of banks and lenders have stopped offering new mortgages

because of the volatility in the currency markets. and the amount it costs the government to borrow money — an essential part of its new financial plan — has risen sharply to its highest level since 2010. analysts fear it could rise still further. the bank of england has tonight said it will not hesitate to raise interest rates if necessary to reduce inflation. what does all this mean for our economy and for us? here's our economics editor faisal islam with our first report. turmoil in the markets and turmoilfor britain — an early money morning plunge in the value of the pound in your pocket to depths never seen before against the dollar and then a roller—coasterfor the rest of the day — and against other currencies too — as the cost of servicing british government debt surged. we had a budget on friday in which we saw a lot of tax cuts, but unfortunately that means that the government will have to issue an awful lot more debt, and that's something which the market is finding it

difficult to swallow. the uk fundamentals right now, a lot of debt, a recession and, of course, high inflation, and that's something that investors just don't like. fear stalking the markets and affecting every day businesses, such as this toy retailer in middlewich, cheshire. a weak currency is bad for those who import goods priced in dollars. because of the currency fluctuations, it's tearing our margins to shreds. we are trying our best to absorb what cost increases we can, but ultimately, because the pressure of the business is under, we expect to have put prices up as a result. as concerning as the weakness of the currency is, the more troubling development has been the surge in the effective cost of borrowing for government. to borrow over two years now costs 4.5% in interest, up from closer to 3% a week ago and under 2% in august. this is now notably higher than lending rates to former crisis countries such as italy and greece.

when these rates go up, so do the borrowing costs of corporations. for example, retailers�* costs surged today and so does the cost of new mortgages too. the uk's biggest lender today pulled all of its mortgages that charge a fee as a result of significant funding changes. the bank of england has been keen that interest rates should increase only gradually, but there's quite a good argument for looking at where you think interest rates need to be and getting there fairly quickly. what are you going to do about the turmoil in - the markets this morning, sir? the chancellor remained tight—lipped this morning... i'm not going to make any comment now. ..but the most significant cause of all this — markets unconvinced by the government's approach to borrowing and tax cuts outlined at friday's mini budget. but by the afternoon, he had promised a full set of borrowing forecasts and a plan to get debt down. and then the bank of england said it would raise interest rates aggressively if necessary, but not until november. having recovered, the pound fell back again.

the impact on markets, in boardrooms and in households is farfrom over. faisal islam reporting. in a moment, we'll speak to a markets analyst who can tell us about what's been happening in trading in london. but first, our business correspondent michelle fleury joins us from new york. michelle, statement from andrew bailey, bank of england, statement from the treasury but pretty bland. is that reassuring things this evening? is that reassuring things this evenin: ? ., ., ~' is that reassuring things this evenin: ? ., ., ~ i. is that reassuring things this evenin: ? ., ., ~' ,, ., ~ evening? look, if you take the market reaction, _ evening? look, if you take the market reaction, the _ evening? look, if you take the market reaction, the pound i evening? look, if you take the - market reaction, the pound continued to fall after these statements, it suggest that there is a degree of scepticism still in financial circles. i think the real test will come overnight. how does the town fair? i will give us a sense of how long investors are prepared to give the uk treasury and the uk bank of england in terms of making good on the words we have heard from them today, so still a lot of uncertainty, a lot of doubt, and we

continue to see this negative reaction to the policy announced on friday. at reaction to the policy announced on frida . �* ., ., reaction to the policy announced on frida .�* ., ., , reaction to the policy announced on frida . �* ., ., , . reaction to the policy announced on frida. ., ., , ., friday. a lot of people have said this is similar _ friday. a lot of people have said this is similar to _ friday. a lot of people have said this is similar to what _ friday. a lot of people have said this is similar to what reagan i friday. a lot of people have said | this is similar to what reagan did backin this is similar to what reagan did back in the 80s, but is there anyone over that you're speaking to saying this is the right thing to be doing now in the 20 20s? it this is the right thing to be doing now in the 20 20s?— now in the 20 20s? it was fascinating to _ now in the 20 20s? it was fascinating to watch - now in the 20 20s? it was fascinating to watch on i now in the 20 20s? it was - fascinating to watch on friday, now in the 20 20s? it was _ fascinating to watch on friday, some of the responses you saw. you had larry summers, a former us treasury secretary, he appeared on us television basically saying the uk was notjust acting like an emerging economy like a sub emerging economy, a reference to this idea that emerging countries have to have very high interest rates to try and attract international money fund their borrowing costs bit is something typically governments do not want because it means they have to pay a lot more to service their debt, and again as we are starting to see, it also has a knock on effect on company debt and also household debt, mortgages. that is

the kind of price, if you like, individuals and firms have to pay, and the danger is the knock on effects that that has on growth. that comparison to reagan just mentioned, jason furman, a former 0bama adviser, referenced that, the nod to reaganomics, if you like, that policy back in the 1980s of deregulation, but also this increased spending and tax cuts, and saying while he hopes they do not have to reverse policy in a couple of years, no sign of that at this point, we have got the uk treasury secretary doubling down and saying perhaps they will be more majors coming in the weeks ahead. certainly not a sign of a u—turn at this point. not a sign of a u-turn at this oint. ~ . ., ., ., ~ point. 0k, michelle, for now, thank ou ve point. 0k, michelle, for now, thank you very much _ point. 0k, michelle, for now, thank you very much indeed. _ fiona cincotta is a senior market analyst at city index trading group. at this time, last friday, wasn't it, only a few days ago, you were saying this is all very risky after kwasi kwarteng's statement. you are notjoking. ida.

kwasi kwarteng's statement. you are not 'okin. ., ., ., kwasi kwarteng's statement. you are not'okinu. ., ., ., ., ., not joking. no, not at all, and we have really _ not joking. no, not at all, and we have really seen _ not joking. no, not at all, and we have really seen that _ not joking. no, not at all, and we have really seen that play - not joking. no, not at all, and we l have really seen that play out again today. in fact, i think the pound has gone from being in a risky position to being really quite a vulnerable position, and the wild swing that we have seen has drawn comparisons between the pound and emerging—market currency, these are the currencies, those economies that need those high level of interest rates to attract interest. they also seek large swings in their currencies, generally speaking, and thatis currencies, generally speaking, and that is what we have been seeing the pound pilot recently, destroying those comparisons to that emerging—market currency base, and the thing is here, the pound is looking for some the much more from the book of england —— just drawing those comparisons. there was some optimism the bank of the good might come in and roll up its sleeves, gives a big strong rate hike or talk about that, to make the markets feel calmer, but we have not seen that yet. they have come through with

some calming words, but they have not been enough. the some calming words, but they have not been enough.— some calming words, but they have not been enough. the pound dropped aaain after not been enough. the pound dropped again after that. _ not been enough. the pound dropped again after that. it _ not been enough. the pound dropped again after that. it is _ not been enough. the pound dropped again after that. it is a _ not been enough. the pound dropped again after that. it is a bucket - again after that. it is a bucket ability, isn't it? how much worse could this potentially get? —— it is about accountability. could this potentially get? -- it is about accountability.— could this potentially get? -- it is about accountability. exactly. this is all about _ about accountability. exactly. this is all about investors _ about accountability. exactly. this is all about investors losing - is all about investors losing confidence in the outlook for the uk economy. they are concerned about how the government is going to fund these huge measures that have been announced and unveiled, and we have seen that the treasury are starting to acknowledge that there are some gaps here, as far as what they have unveiled so far. they are going to, intend to, put that right by november, but that is still a long time away for the markets to be able to really get their stomachs around this massive amount of spending which is unfunded, and the same as far as the bank of england are concerned. they have really pushed down the road to november. there are quite a few weeks for the pound to continue feeling unsupported and vulnerable, and i think it really is

a good chance the pound could get to parity with each other by the end of the year. i parity with each other by the end of the ear. , , parity with each other by the end of the ear. , ., the year. i suppose you could argue the dollar is — the year. i suppose you could argue the dollar is very _ the year. i suppose you could argue the dollar is very strong _ the year. i suppose you could argue the dollar is very strong at - the year. i suppose you could argue the dollar is very strong at the - the dollar is very strong at the moment, the positives are we have a fixable exchange rate, we are not linked to any other currency, we have not got a lot of sterling in terms of debt —— to parity with the dollar. it is that enough? and i suppose the big question is, how far is the government prepared the interest rates rise?— is the government prepared the interest rates rise? yes, that's a really good _ interest rates rise? yes, that's a really good point, _ interest rates rise? yes, that's a really good point, and _ interest rates rise? yes, that's a really good point, and the - interest rates rise? yes, that's a really good point, and the other| really good point, and the other thing to mention his higher interest rates are going to start cooling down the economy, so it is very contradictory picture we are going to be forming here, where you've got the government really boosting growth and pushing growth and using measures that we say keep the economy heated by extending the economy, and at the other side, you will have the bank of england

putting in higher interest rates, which are measures that we say cool the economy and restrict growth, so it is going be very contradictory, it is going be very contradictory, it will be going on here, but the bottom line, as far as the pound is concerned, investors need to have confidence in how the uk is going to be funding these measures and ijust think that having still several more weeks before we get any details on thatis weeks before we get any details on that is going to make the pound vulnerable, against the euro as well as the dollar and other currencies. i do not know how long you've been in foreign exchange, but have you been across this before? brexit, the pound has lost against the euro as well, but personally, how bad is this as far as you're concerned, just personally and professionally? yes, i mean, ithink quite just personally and professionally? yes, i mean, i think quite a few crashes, in the sense we have been around for the financial crash of 2007 2008. brexit was a big shock as far as the pound is concerned, but

we have seen now is really quite unique, in the idea that the strength of the dollar that we are seeing, which is not only attracting safe haven flows as a reserve currency of the world but also having the federal reserve hiking interest rates very aggressively, and that is a very steep contrast, a very stark contrast, to what we are seeing in the uk, where investors are looking to pull out their money from the uk and the bank of england is really raising rates quite slowly in comparison to the ecb or the federal reserve or other central banks across europe. that federal reserve or other central banks across europe.— federal reserve or other central banks across europe. that is fiona cincotta. thanks very _ banks across europe. that is fiona cincotta. thanks very much and i banks across europe. that is fiona i cincotta. thanks very much and even joining us here. and we'll find out how this story — and many others — are covered in tomorrow's front pages at 10:30 and 11:30 this evening in the papers. my guests tonight are the author and journalist rachel shabi and nigel nelson, the political editor of the people and sunday mirror newspapers. labour say the government has

"spooked markets" with a "reckless gamble" on tax cuts paid for by increased borrowing. the shadow chancellor rachel reeves has been setting out their economic vision at the party's conference in liverpool. she said a labour government would bring back the 45p top rate of income tax and use the funds to boost nhs staffing numbers. 0ur political editor chris mason reports from liverpool. first thing this morning, and conditions on the mersey are nearly as choppy as the markets. turbulence on the water and in the air, as labour's candidate to be chancellor prepares to set out her party's approach to the economy... ..and her critique of the government's. the chancellor and prime minister resemble two desperate gamblers in a casino chasing a losing run. but here's the thing. they are not gambling with their money. they are gambling with your money. they have lost credibility, they are losing confidence, they are out of control.

and so labour see an opportunity. it's becoming clearer by the day, labour is the party of economic responsibility and the party of social justice. rachel reeves claims she'd be the first green chancellor, as she put it, putting money into the clean energy industries of tomorrow. she promised, albeit without much detail, a minimum wage that reflects the cost of living. and there was a reference, too, to the biggest political row of recent years. if you're remotely serious about growth, then you've got to make brexit work. so we will fix the holes in the government's patchwork brexit deal. labour says it is outraged by the conservatives' budget last week but is not rejecting all of it. they back the cut in the basic rate of income tax, but they don't like the tax cut for the very highest earners. and if they were in government... the 45p top rate of

income tax is coming back. they'd spend the money it brought in on the health service, to train more staff. we will implement the biggest expansion of medical school places in british history, doubling the number of medical students, so our nhs has the doctors that it needs. and so to her concluding thoughts. and look at the optimism here. it's time for a government that is on your side. that government is a labour government. and be in no doubt, conference, that government is on its way! after the government decision the other day, that was the labour alternative on economy, the crucial battleground of politics. and an attempt by both of the big parties, and indeed the others, to seize a sense of credibility and responsibility. but how much difference is there between the conservative and labour plans?

most of the tax cuts that we saw announced last week, labour would keep too. the reversal of the 45p rate reduction is almost neither here nor there from a public finance point of view. we assume that labour would also want to spend more on public services, so there's certainly more to tell us about how they would fund that. back in the hall, the shadow chancellor gets a hug and a smile from her boss. tomorrow, it's his turn to try to convince us why he should one day be prime minister. chris mason with that report. i'm joined now by our political correspondentjonathan blake. labour very much trying to make the pitch that they are serious government in waiting, so reversing the order 5p top rate tax, but what about the other things that kwasi kwarteng said friday? if she going to reverse that as well?— kwarteng said friday? if she going to reverse that as well? labour has said they will _ to reverse that as well? labour has said they will keep _

to reverse that as well? labour has said they will keep the _ to reverse that as well? labour has said they will keep the cut in i to reverse that as well? labour has said they will keep the cut in the i said they will keep the cut in the basic rate of income tax after that his put in place by the conservative government, if they come to power, and they have been backed into a corner on the specific decisions by the chancellor's mini budget on friday. you would not normally expect in opposition to set a what it would do in that detail at this point, but they have taken the view that they do not want to keep answering questions on that issue or kicking the can down the road as it were, but interestinglyjust to pick up were, but interestinglyjust to pick up on what rachel reeves announced in her speech, that he party would spend the money for inciting the top rate of income tax on hiring new staff for the nhs, training and hiring new staff, let's not forget that money is being borrowed by the conservative government to pay for the tax cut in the first place, so labour could have said, we will borrow less if we reinstate that top rate of income tax, but they're not doing that. they are choosing to spend the money and keep the borrowing level at the same rate

that it borrowing level at the same rate thatitis borrowing level at the same rate that it is up to this government. while we are getting the big picture from labour on what they would do on the economy, huge sums invested in green energy, to create jobs, the party hopes, and future proof the economy that way, the detail on taxes and other things is not really there at the moment. but taxes and other things is not really there at the moment.— taxes and other things is not really there at the moment. but also a very positive message _ there at the moment. but also a very positive message about _ there at the moment. but also a very positive message about britain i there at the moment. but also a very positive message about britain and l positive message about britain and what britain can achieve. it was just going, she would say, in the wrong direction, with that phrase she used another people do about trickle—down economics. yes. she used another people do about trickle-down economics. yes, and labour is really _ trickle-down economics. yes, and labour is really using _ trickle-down economics. yes, and labour is really using the - labour is really using the opportunity at its conference here in the ripple this week to draw a line between it and the government over their approach to the economy —— in liverpool this week. and that is going to be the big battleground, there is no doubt about it, it in the run—up to the next general election in a couple of years' time, if it is that and not before. labour is seizing the opportunity to take that fight to the conservatives, in

an attempt to betray itself as the party of economic competence, as rachel reeves said in her speech today, and that is really the battle the party has after that disaster is general election defeat underjeremy corbyn in 2019. we are seeing the party try to betray itself again as one of the centre ground and one which can have a reputation for economic competence —— portray itself. and given the government cosmic actions last week and the response to it, it is in a position to say, we would do things very differently. to say, we would do things very differently-— differently. jonathan blake in liverpool. — differently. jonathan blake in liverpool, thank _ differently. jonathan blake in liverpool, thank you - differently. jonathan blake in liverpool, thank you very i differently. jonathan blake in i liverpool, thank you very much. 19 minutes past eight p:m.. the headlines on bbc news: the bank of england says it "won't hesitate to raise interest rates by as much as needed" to bring down inflation, after the pound dropped to a record low against the dollar overnight. labour outlines its own plan for the economy at its party conference and is scathing about the government's new measures. at the inquest into the death of molly russell, an executive from instagram's parent company

insists thousands of images the teenager saw online about suicide and self harm were safe. sport — and for a full round—up, from the bbc sport centre, here's gavin. hello, gavin. hi there, tim. we will get to the football in a moment. worcester warriors rugby club is to be put into administration by the department for digital, culture, media and sport and will therefore face relegation from the premiership. the financially stricken club was suspended from all competitions after failing to meet a funding ultimatum set by the rfu earlier today. the men's and women's teams have been banned from playing in all competitions. it is obviously very, very disappointing. i would it is obviously very, very disappointing. iwould be it is obviously very, very disappointing. i would be lying if i said i was a price. it was something we knew was coming. we spoke about it last week at length, leading into the newcastle game, that this was

probably the likely outcome, but even though we knew it was coming, it is tough. we are rugby players, we want to play rugby, and to not have that opportunity is pretty tough, and i'm just have that opportunity is pretty tough, and i'mjust got have that opportunity is pretty tough, and i'm just got my figures crossed that there is a resolution sooner sooner rather than later. to the nations league. england is playing germany. it is currently scoreless. two changes. england had been relegated from their top—tier group, having lost to italy on friday. around 15 minutes to go until half—time in that one. england winless in five. italy on top of hungary. the winner of that going to the finals of the competition. scotland and northern ireland are in action tomorrow night. a virus in the camp is threatening scotland's chances ahead of their decider with ukraine. steve clarke's side need to avoid defeat to ensure promotion in the nations league and confirm

a play—off spot for euro 202a. however, they'll be without scott mckenna, scott mctominay and kieran tierney, who are the latest players to withdraw from the squad, while che adams and lyndon dykes have also been ill. the forwards have travelled to poland to play ukraine, northern ireland will play greece. eight of the 20 premier league clubs are being urged to ensure they pay the real living wage to all their staff. the other 12 say they are either accredited living wage foundation employers, or pay the real living wage to all staff, including subcontractors such as caterers, cleaners and stewards. alastair magowan is across this story for the bbc. i guess it is a choice of where you spend your money, for the clubs themselves, and this comes after the real living wage went up last week by 10% for all organisations. that was to... we asked all the premier league clubs whether they paid this real living wage to all their staff, and 12 came back and said they did to other permanent staff and to subcontractors, and that is crucial,

because it includes the likes of stewards, caterers, cleaners who come into the clubs on matchdays. england captain heather knight insists india made no attempt to warn charlie dean before her mankad run out in their one day international at lord's on saturday. india bowler deepti sharma said dean was "repeatedly" warned during her innings about leaving her crease early prior to the run out, which sealed victory for the tourists. knight has countered that, saying there was no warning. she added the win was "legitimate" and they "shouldn't feel the need to justify it by lying". ahead of the women's rugby league world cup in november, england head coach craig richards has named a 2a—player squad, with 18 of them coming from leeds rhinos and st helens. the recently crowned woman of steel winner tara jane stanley is in, as too are former winners of the award, jodie cunningham, georgia roche and courtney winfield—hill. leeds rhinos' zoe hornby is the only uncapped player included, after her player of the match performance in the challenge cup final against st helens earlier this year. cyclist mathieu van der poel has

pleaded guilty to assaulting two teenage girls in sydney, australia, the night before the men's world championship road race. the dutch rider was charged with two counts of common assault and fined 1,500 australian dollars after a confrontation with the girls, aged 13 and 1a. his lawyer says he'll appeal against the conviction but has been allowed to leave australia after being handed back his passport. there we go, that is just about all the sport from us for now. there we go, that isjust about all the sport from us for now. update from the nations league games on the website. gavin, thank you. an executive from meta has defended in court images seen by 14—year—old molly russell before she took her own life in 2017. the inquest into her death heard that she interacted with more than 2,000 images about suicide and self—harm on instagram in the six months before her death. at today's inquest, elizabeth lagone from meta, who own instagram, said she believed the images were safe for children to see. 0ur correspondent angus crawford was at the coroners'

court in north london. you may find some of his report upsetting. in court, and under oath, elizabeth lagone, the head of health and well—being at meta, owners of instagram. here for a second day of questioning about what the platform did to keep molly russell safe. instagram videos from molly's account were shown to ms lagone, most too graphic to broadcast, of suicide, blood and self—harm. then, pictures molly had liked, saved and shared. again, we can't show you most of them. but here, a heart monitor. "if it stopped, would you miss me?" a coffin with the words, "now everyone loves me." questioning ms lagone, the barrister for the family, 0liver sanders, kc, asked... ms lagone replied... he then singled out an image

from molly's account. "she is sad, hurt, dying," it reads. ..said the barrister. the coroner, andrew walker, put it to the witness... ..replied ms lagone. the exchanges became heated. mr sanders raising his voice, shouting that children could not consent to being sent graphic and harmful material. at one point, ms lagone said she was sorry that molly had seen content that violated their policies. meta held to account. and a grieving family coming face—to—face with a company they believe helped kill their daughter. angus crawford, bbc news.

plenty more on the website about that story as well. italy's far—right leader, giorgia meloni, is on course to become the country's first female prime minister. she is widely expected to form italy's most right—wing government since world war ii. here she is claiming victory. translation: italy has chosen us. it's important to understand that if we are called to govern this nation, we will do it for all italians, with the clear objective of uniting the people. ms meloni's party, brothers of italy, is set to win 26% of the vote — a big jump from the 4% vote share the party received in the last general election. however, it isn't enough for her to form a government on her own. that's where she will need the support of her allies — matteo salvini's far—right league and former pm silvio berlusconi's centre—right forza italia. they both got less than 10% of the vote.

the american space agency nasa has postponed its launch of the artemis moon rocket because of an approaching hurricane. the rocket, which was due to take off tomorrow, has been rolled off its launch pad in florida and back into its workshop to protect it. we can speak to our science correspondentjonathan amos. about that and something else going on in space. another disappointing moment for the artemis crew, or gang behind it. ., moment for the artemis crew, or gang behind it. . ., moment for the artemis crew, or gang behind it. . . ., moment for the artemis crew, or gang behind it. . ., ., ,., h, moment for the artemis crew, or gang behind it. . ., ., ,., ,., ., behind it. yeah, and nasa bowing to the inevitable, really. _ behind it. yeah, and nasa bowing to the inevitable, really. they- behind it. yeah, and nasa bowing to the inevitable, really. they held i the inevitable, really. they held out into the last moment, hoping that this big storm would move westwards, away from florida, where the kennedy space centre is, and that somehow they would keep the rocket on the launch pad and then try and try for a lunch maybe this weekend, but the computer models that study the tracks of hurricanes

have shown that it is likely that the storm will turn east and that will take it into florida and that means high winds, heavy rain at the kennedy space centre next week, and they do not really want this multibillion—dollar rocket sitting on the launch pad when that comes. yeah, unmanned, of course. and another unmanned rocket or spacecraft which is in space, which went off in november, about to do something reallyjust quite incredible. talk us through it. yeah, this is a test mission nese are going to crash into a —— that nese are going to stash don't act why on earth are they going to do this? it is how to protect earth and future from a crushing asteroid. you know the dinosaurs got wiped out 66 million years ago because an

asteroid struck earth. what we do if other asteroids would have come in our direction? how would you stop that? we know how hollywood does it. they do it with the brave astronaut bruce willis and nuclear weapons, but for real, it may not be that dramatic. what you might need to do is just dramatic. what you might need to do isjust nudge this dramatic. what you might need to do is just nudge this asteroid just a little bit. if you can do it far enoughin little bit. if you can do it far enough in advance. such that as it comes towards the earth, it glides past. and that is what they're going to test this evening, a little under four hours from now. this probe is going to crash into an asteroid, and that will change its velocity ever so slightly, proving that this is a technique that we could use, if we need to, in the future. {lilia technique that we could use, if we need to, in the future.— need to, in the future. ok, i was readin: need to, in the future. ok, i was reading about — need to, in the future. ok, i was reading about it. _ need to, in the future. ok, i was reading about it. i _ need to, in the future. ok, i was reading about it. i think- need to, in the future. ok, i was reading about it. i think it i need to, in the future. ok, i was reading about it. i think it is i need to, in the future. ok, i was| reading about it. i think it is good and knocking off course by the size of the football stadium, but is there risk this will go careering off and smashed into other things?

it has been very carefully selected, so that that does not happen. this asteroid, even today, is not going to come anywhere near us, and even after this experiment is conducted, it is not quinny come anywhere near us. as you say, the change in its velocity is tiny. it is less than a millimetre per second, but over the course of ten, 20, 50, 100 years, if you knew a dangerous asteroid was coming in our direction, if you can make that tiny adjustment in its velocity, if you got the expected cackle he did interception between the asteroid and the earth, change the asteroid and the earth, change the velocity even by a tiny amount, they go past each other, and we would all breathe a sigh of relief. 0k, would all breathe a sigh of relief. ok, i thing a lot of people interested what happens next few hours. can see it on telescopes under even though it is aliens of miles away. thank you very much

indeed. —— even though it is far away from earth. now it's time for a look at the weather with sarah. good evening. we'll have plenty of rainbows around on monday because we've had that classic mix of some sunshine breaking through, but plenty of heavy showers around, as well — they've been blustery showers. and over the next few days, we'll keep the fairly cool and blustery spell of weather, further showers at times. 0vernight tonight, the heaviest of the rain will be across the north and northeast of scotland. the winds really picking up here tonight, gales developing. also a few showers just pushing through parts of the irish sea coasts in particular, whereas further east across england, you're likely to keep clearer spells for longer. so here, temperatures 11—5 celsius first thing — most of us frost—free, though, to start your tuesday morning. through the day tomorrow, sunny spells and showers, a bit like today, but the winds not quite as strong and the showers fewer and further in between, too, but almost anywhere could catch one. top temperatures only 10—17 celsius, but feeling cooler when you add on the breeze. and more prolonged rain possible across the far southwest later in the day. looks generally quiet as we head through the middle part of the week, but do expect a return to some persistent rain and

strong winds by friday. bye— bye. hello, this is bbc news. the headlines... the bank of england says it "won't hesitate to raise interest rates by as much as needed" to bring down inflation. it follows the pound dropping to a record low against the dollar, potentially driving up prices even further. we're trying our best to absorb what cost increases we can. but ultimately, because of the pressures the business is under, we expect to have to put prices up as a result. some lenders say they're temporarily halting new mortgage deals because of the volatility of the markets, with halifax, virgin money, and skipton building society announcing changes. labour outlines its own plan for the economy at its party conference and is scathing about the government's new measures. at the inquest into the death

of molly russell, an executive from instagram's parent company, meta, insists thousands of images the teenager saw online about suicide and self—harm were safe. more now on the currency market turmoil that has seen the pound drop a record low against the dollar, following the chancellor's mini—budget last week. three mortgage companies have withdrawn products for new customers, as they wait to see what impact the reaction to kwasi kwarteng's growth plan has on interest rates. mortgage broker nicola schutrups joins us from the mortgage hut, in southampton. presumably it's done to protect the mortgage lenders themselves because they don't know what's going on, and also borrowers because they don't want people to be encumbered with too much debt, so they can't actually service.—

too much debt, so they can't actually service. that's right, the lenders, actually service. that's right, the lenders. it's _ actually service. that's right, the lenders. it's a — actually service. that's right, the lenders, it's a difficult _ actually service. that's right, the lenders, it's a difficult time i actually service. that's right, the lenders, it's a difficult time for l lenders, it's a difficult time for them to predict exactly how they'll be able to borrow that money out. so actually more than three of them that have come out today saying they'll temporarily be pausing any new applications. so they've given us a few hours notice to get the applications in, but it'll be a further watch and wait from them, and then hopefully come up with new products than. and then hopefully come up with new products than-— and then hopefully come up with new products than. what about people who have already put _ products than. what about people who have already put their _ products than. what about people who have already put their applications i have already put their applications in, and they've been signed off? under the european mortgage directive, if your rate is secured, if you've got a mortgage already, those are legally binding unless the material changes. it's those looking for properties or those where they weren't able to put in their application yet who are looking at a rate switch at the end of their

fixed rate, and it's too soon to be doing that for them. just fixed rate, and it's too soon to be doing that for them.— doing that for them. just tell us about how _ doing that for them. just tell us about how many _ doing that for them. just tell us about how many people - doing that for them. just tell us about how many people are i doing that for them. just tell us about how many people are on | about how many people are on variable and tracker mortgages, compared to those who've locked in? so it's about 20% on variable rates, so one in five. so it's about 20% on variable rates, so one in five-— so one in five. ok, so mortgage companies _ so one in five. ok, so mortgage companies now, _ so one in five. ok, so mortgage companies now, we've - so one in five. ok, so mortgage companies now, we've been i so one in five. ok, so mortgage i companies now, we've been through so one in five. ok, so mortgage - companies now, we've been through so many swings over the last 40—50 years, but what is the mortgage company's responsibility to compa ny�*s responsibility to borrowers company's responsibility to borrowers who are perhaps on those variable mortgages who are really struggling and looks at the struggle even further with interest rates only going up now? so even further with interest rates only going up now?— even further with interest rates only going up now? so we are seeing some changes to _ only going up now? so we are seeing some changes to legislation - only going up now? so we are seeing some changes to legislation over i only going up now? so we are seeing some changes to legislation over the | some changes to legislation over the last year for these customers. they're called mortgage prisoners, they aren't able to remortgage to a new lender and take advantage of a better rate for whatever reason, it might be adverse credit or the affordability isn't there. so lenders will actually look to put you onto a different rate so you're

not on highest rate, and they've got that duty to you. in not on highest rate, and they've got that duty to you-— that duty to you. in anecdotally, the people _ that duty to you. in anecdotally, the people you're _ that duty to you. in anecdotally, the people you're dealing i that duty to you. in anecdotally, the people you're dealing with, | that duty to you. in anecdotally, i the people you're dealing with, how concerned are they? because everyone knew interest rate to be going up, but perhaps not by this amount. what other conversations of you been having in the last 2a hours or so? i having in the last 24 hours or so? i think people don't necessarily equate interest rates to pounds in their pocket. there are around 1.8 million people coming off a fixed rate mortgage in the next 12 months, and if you fixed 2—3 years ago, your rate is probably starting with a one. and when you come to re—fix it, it's likely to be starting with a five, certainly a high for. but what it means is the average mortgage is just under £240,000 — it'll be adding £800 a month to your

mortgage, and i don't know many people who have a spare £100 at the end of the month, especially with the cost of everything else increasing as well. so we are having conversations to fix those rates as quick as you can, and we are equating it to monetary value rather than interest rates, which not everybody understands. i remember when interest _ everybody understands. i remember when interest rates _ everybody understands. i remember when interest rates started - everybody understands. i remember when interest rates started with i everybody understands. i remember when interest rates started with a i when interest rates started with a one, that were followed by a five. thank you very much.— one, that were followed by a five. thank you very much. heavy fighting is continuing in ukraine's eastern donbas region, which russian forces have been trying to take for months but where ukrainian troops have been making gains in recent weeks. getting full control of donbas remains president putin's stated aim in ukraine. and camera journalist goktay koraltan report from the city of bakhmut, where residents endure constant russian shelling and the destruction of their homes.

i should warn you, her report contains some distressing images. shelling inside a city under relentless attack. this is bakhmut. pounded by russian air strikes, and shelling. ukrainian forces still hold the city but the russians are at the eastern edge. it's hard for us, says ludmila, one of the few venturing out. have you thought about leaving? "i don't want to. "this is my homeland," she says. "i wish you well," she adds. others are desperate to go. but facing a dangerous wait. irina flinches at this

all—too—familiar sound. shelling her 14—year—old daughter, yelizaveta, is the main reason she wants to get away from her birthplace. which is now a battleground. shells explode as we wait with them, we lose count of the shells. what a memory for a teenager to take away from home. in the last few minutes, we've been hearing incoming and outgoing shells, every 30 seconds or so. it really doesn't stop. this city is in the centre of a fierce fight now between russian forces and ukrainian forces. "everything is ok," irina says.

trying to reassure yelizaveta. "it's very hard to go," she tells me. "it's only because of the war." "the main thing is to save my daughter's life, and to take our cats and kittens so that we all survive." rushing in to get them out, sergei ivanof, a volunteer with a van, and a tattoo that says, "seize the day." he's been doing just that for months. evacuating front line areas. it's perfect. it's why i'm here. it's like my main mission, like,

my life, for these people. russia's attempts to call up another 300,000 soldiers are being met with widespread protests — and even the shooting of an army recruitment officer. reports have circulated on social media of people with no military experience being draughted, along with others who are too old or are disabled. 0ur russia editor steve rosenberg reports. at a military draft office near moscow, the roll call begins. more russians mobilised. and on their way to fight in ukraine. and left behind, their loved ones. for many here, this war has suddenly become very real. but at this recruitment centre, the russians we spoke to said they supported the draft. "i'm in the mood to fight," says dmitry, an hr manager. "since we've been drafted, we have to serve."

this mother says, "the lads will run about a bit there. they will lose a bit of weight, it'll be fine." not everyone is so positive. in siberia, a recruitment officer was shot and seriously wounded. the gunman reportedly incensed that his friend had been called up to fight. across russia, there has been a spate of attacks on enlistment offices. more than a dozen have been set on fire since vladimir putin announced the call—up. and this is the russian republic of dagestan. protests against mobilisation. a sign of the anger in russia's poorer regions, populated by ethnic minority groups and where many feel they have been called up at a disproportionate rate. when the kremlin says, "your country needs you," some russians are happy to answer

president putin's call. but clearly, many are not. and in some parts of the country, mobilisation is sparking social unrest and undermining trust in the authorities. look at the queues leaving russia. this is the land border with georgia. many russian men of military age are trying to get out. but for their sons and husbands, a very different journey starts here. destination, ukraine — and the kremlin's war. steve rosenberg, bbc news, moscow. let's get more now on the ongoing pressure on the pound with your questions answered with my colleague shaun ley. welcome to your questions answered. well, the pound touched a record low against the dollar, as markets reacted to the uk's

biggest tax cuts in half a century. many of you have been getting in touch to find out how it may impact on you — more on that in a second. first, let's look at some of the most important questions that are being searched online at the moment. well, let's talk to three guests who might be able to help with all of that. patrick reed, from the endowment�*s principle, specialises in currencies. tom selby is a finance expert at the accountants aj bell. and still with us is our economics correspondent dharshini david. let's start — let's pull some of those together if we could, patrick and tom. patrick, explain a bit about why the pound is falling and what we mean by a "weak pound", as opposed to a currency that we would describe as strong. the pound is falling for a number of reasons. firstly, the fundamentals

of the uk are pretty dire. real wages are really, really poor. the outlook is dire, too — andrew bailey, the bank of england's governor, said himself the next five quarters will be negative. that sounds like stagflation to me. we've got a rising interest — sorry, cpi — and we've got also... consumer prices index, how inflation's measured? exactly, so the basket of goods, stuff is is really expensive. and all of this, along with what happened on friday, right, the bond market rout. gilts fell so low. and the main reason for that, which really was exasperated by everything i've just said, was because no one believes in government debt. the bond market in the uk, investors are selling it because they do not believe the fiscal plans that the government's set out. and that's the most potentially

damning thing, isn't it, tom? because if that lack of confidence isn't there — i mean, explain when patrick mentions the bond and gilt markets, because it's quite complicated stuff, but it would be helpful for people to have at least an idea of it in the back of their mind? yeah, so what patrick is referring to there is people's confidence in the uk — so their willingness to pay for government debt, to invest in government debt, and the amount that that government debt is going to cost. now, when people are confident in the future of the uk and, as patrick said, people are potentially becoming less confident in the future of the uk, then you would expect the price of those gilts to be relatively low. so the returns that people would demand for holding gilts will be relatively cheap. but, as things have become more uncertain and uncertain — and one of the key things here, i think, is certainty,s so investors really crave certainty from their investments, we saw the value of sterling depreciate after the great financial crash, we saw the value of sterling depreciate after brexit, and we're seeing it depreciate at the moment, as well,

because people have just lost confidence in the certainty of what the uk will do as a country. patrick, rory came up with a very obvious — in a sense, it's the obvious thing to say, "well, if they don't like this, why notjust reverse the tax cuts announced on friday? wouldn't need to borrow as much. wouldn't that just help stabilise the pound?" no, because it's a kneejerk. the damage has been done in the market sense. not the political sense, because i don't want to go there. i'm looking at this pure market. no, we learned that one... absolutely, so the market's saying no big red flags and that is in the bond market. the trust is not there. and if there's a kneejerk to counter that, it could make things a whole lot worse. dharshini david, let's talk a bit about what we've seen since friday. so we had that reaction on the markets that were open on friday. we then had the chancellor going on bbc one on sunday saying, "look, everyone should calm down, markets move all the time. i'm very relaxed about it." but he also said, "there

may be more tax cuts to come," but didn't say how. and then, today we have the further reaction of the asian markets — and now we get a statement first from the treasury, and then, from the governor of the bank of england. what do you think we should read into that? well, first of all, i've been _ covering these kind of announcements now for well over two decades, and i have never seen- a market reaction like i the one we saw on friday. and to have that continue into another week is i incredibly rare, as well. and what that tells you is, - you know, we did have to see some kind of response from the treasury and the bank of england. - it's very usual for the first step in these kinds of cases to be i the intervention of a statement, with the bank of england - trying to calm nerves. then it might come in- and buy up some currency. ultimately, we could see i an interest rate ahead of that next scheduled meeting. remember, they're not due to have another decision on interest - rates until november, could be sooner. i 0k, tom, let me put to you something thatjust on that interest rate point that mike has contacted us about. "can any of you explain" —

and i'm afraid it'll be you, tom — "how the interest rate on savings at the major banks isn't increasing? so those with savings are getting no interest despite the rates rising." because if interest rates are going up, why don't savers benefit? so, they should do. and if your bank isn't passing on the interest rate increase to you... change your bank. exactly, it's as easy as it's ever been now to switch banks. there's loads of great websites out there that can help you compare rates and if your bank isn't offering you a decent return or anything at all — because lots of banks will offer you nothing at all on your cash — then consider switching to someone who does. now it'll be difficult because inflation is running so hot that realistically you're still going to be getting a negative negative return on your money. but shop around and switch banks if you're able to do so. good, that's helpful. patrick, just on the currency issue, there'll be a lot of people — i mean, some people will be old enough to remember that famous occasion where the labour government devalued the pound, and harold wilson, then prime minister, went on and said,

"don't worry, the pound in your pocket is worth just as much as it was worth yesterday." and i'm sure kwasi kwarteng is too shrewd an economic historian to use those phrases. but there will be people saying, "look, don't panic. it doesn't affect what you're paying for goods in this country at the moment." how true is that, and what is the problem for britain if the pound falls, in terms of our economic position? well, the huge elephant in the room is energy imports. that's the problem globally, and a weak... and they're priced in dollars? absolutely, they're priced in dollars. so a weaker currency explodes that cost, and it hurts everyone, from the low—paid to the well—paid. and it also explodes inflation, as well. so a weaker currency means stuff is cheaper, and therefore inflation goes higher. just on that point, tom neal asks, "tax cuts will be outweighed by the prices going up." so he wants some understanding

of how this will work to help poorer people — it might work to help poorer people in the country. because some people — sean, and not me, somebody else called sean — emailed to say, "how long will it take for trickle—down to happen?" i mean, it's not a phrase we use, but the phrase has been used — the idea that if you get the wealthy spending their money, or at least generating more income because they invested in things, or they run businesses or whatever, then that will benefit everybody eventually. yeah, so it's difficult questions to answer. so not clear... that's why you're here! no, it's not clear exactly when people are going to benefit from this. and the real risk, of course, is we've got inflation being stoked or potentially going to get interest rates going up, people on flexible mortgages might be seeing their terms come up, as well, they might be seeing their costs go up by hundreds of pounds. so i think neil raises an important point, that there is a risk that the costs on lots of households will actually go higher than any tax benefit that they get, and particularly those on middle incomes, for example, who might only get a one percentage point decrease in their costs. dharshini, a couple of related

questions here, i'm sort of going to roll them together. russ and joanas are basically saying, "look, hang on, we're talking about the pound under pressure" — is it really that or is itjust that the dollar is strengthened, that the dollar is doing well because of what the americans policymakers — whether it's the federal reserve or the biden administration are doing — and that's about other things than what's happening in the british economy? it is, and i think that's a really crucial point, and thank- you for asking that question. because what we've seen in recent weeks is dollar strength — - that has been a theme that's- impacted currencies around the world because, as you say, sean, - that economy looks relatively better off than many others in terms of growth. i also, their interest rates- are rising at a faster rate so far. so it is dollar strength, _ but if you look at the league table, the pound is one of the most impacted currencies by this. i and because of what's - going on on our home shores. you know, i said i'm rolling two questions together — sojonas' was similar,

but he added an interesting point. he asked dharshini, "is not euro—pound exchange rate more important than dollar—pound when it comes to importing inflation from abroad?" again, that's a really great i question because if you looked at the simple maths — it looks like it, right, i because one in six pounds of our imports comes i from the us, almost half comes from the ell _ so you might think actually it's the euro that matters more. i but don't forget that things - like oil, many other commodities, metals, for example, _ which go into making many of our gadgets in this country — i they are priced in dollars. if you're buying them - on the international market, you need to find more cash, more pounds to do so. i so that lifts up the | general price level. patrick, another patrick asks, "given the falling value of the pound, companies who import goods will find price have gone up. but what about exporters, who's likely to gain from this?" well, anyone that really focuses and thrives on those products that do get exported. now, in a normal scenario, there would he wins and gains,

wins and losses, swings and roundabouts, right? but we're not in any normal scenario. we've got an absolute rout on the bond market, no trust in the fiscal from the mini—budget. and we've also got, as your colleague said, a jubilant king dollar who pretty much have all their ducks in a row. it's not the same here. so the over and the underlying problem, as i mentioned before, is energy. energy will wipe any gains exporters have with imports. and that, tom, is presumably one of the most worrying consequences of all of this, what about the other aspect of it? i mean, lee was making the point that if the pound drops, will it improve companies exporting goods? yes, but only up to a point, judging by what patrick is saying. what about the other aspect of this, the public finances? if borrowing costs go up, how far how great risk is that that derails what the government's trying to achieve?

again, that's a big question, because the challenge for the government is its levels of borrowing are already pretty high — not historically high compared to post—world war two, but higher than they have been in the past — and the more those borrowing costs rise, the interest rates on those rise, then the more it'll cost for the government to service that debt. and then, that'll kick on and effect the amount that governments got to invest in different things. so to invest in infrastructure, to invest in public services, and all the things that the government's promised that it will do will become increasingly difficult if service debt becomes more expensive. patrick, stuart asks, "would our position be any stronger if large amounts of our gold reserves hadn't been sold in the past?" it's really hard to say. i love these questions, keep them coming! they're brilliant, aren't they? "what if we hadn't done what we've done before?" but it's a fair point, isn't it? because people used to have great confidence in gold. hindsight�*s wonderful, isn't it? i don't know the answer to the question —

but what i will say is our reserves of gold could help, but it won't fix the problem, and the problem is trust. the last few questions we have here are very, very practical questions, which is great, actually. i'm going to ask the first one actually to you, tom, if i may — and anyone else who wants to chip in on this, dharshini or patrick, feel free, or don't if you don't want to. housing — this is claire, on the isle of wight. she said, "i'm looking to put our house on the market. do you think all this will have an effect?" yes, it will have an effect! what will that effect be? i don't know. so we've clearly had the stamp duty cut will affect people buying a house for the first time. i think the biggest fear for anyone who's about to buy a house, anyone who's lucky enough to have a deposit big enough to buy a house, is that the mortgage that they get

will become unaffordable. people who already own homes, their mortgage might become unaffordable when they need to renew those mortgages, as well. so that's the biggest risk here, is cost, ithink, for those people. dharshini, do you want to give your views on that? because this thing about variable—rate mortgages — at some point, they will have to come back to their lenders and renegotiate. they do, because those fixed rates expire. - but also, there'll be some people right now who are thinking, - "if interest rates are going to go out, i'm going to get out now, l get a new fixed before i they go up even further." but on the other hand, think about this. - if you're thinking about that, - those government borrowing costs, those bond markets are linkedi to the price you pay on interest for fixed—rate mortgages. so quite frankly, some of those deals which look relatively - attractive right now, _ they might vanish pretty soon. good evening. we'll have plenty of rainbows around on monday because we've had that classic mix of some sunshine breaking through, but plenty of heavy showers around, as well — they've been blustery showers. and over the next few days, we'll keep the fairly cool and blustery spell of weather,

further showers at times. overnight tonight, the heaviest of the rain will be across the north and northeast of scotland. the winds really picking up here tonight, gales developing. also a few showers just pushing through parts of the irish sea coasts in particular, whereas further east across england, you're likely to keep clearer spells for longer. so here, temperatures 4—5 celsius first thing — most of us frost—free, though, to start your tuesday morning. through the day tomorrow, sunny spells and showers, a bit like today, but the winds not quite as strong and the showers fewer and further in between, too, but almost anywhere could catch one. top temperatures only 10—17 celsius, but feeling cooler when you add on the breeze. and more prolonged rain possible across the far southwest later in the day. looks generally quiet as we head through the middle part of the week, but do expect a return to some persistent rain and strong winds by friday. bye— bye.

hello, i'm christian fraser. the british pound has hit historic lows against the dollar and is still under pressure, despite the statements tonight from the bank of england and the treaury, which hoped to steady nerves. the chancellor, kwasi kwarteng, says he will outline in november how he'll reduce the uk's spiralling debt exacerbated by his mini—budget announcement on friday. there is growing public opposition to president putin's call—up of 300,000 reservists. there are reports of men with barely any experience, some too old to serve, being sent to the front. and jupiter is closer to the earth than it has been for nearly 60 years. if you have good binoculars — and good weather — you will see it like never before.

tonight with the context, the former mayor of baltimore,