this is bbc news. russia vows an adequate military response as the uk confirms it will bolster ukraine's counter offensive with storm shadow missiles. , ., _ , , , missiles. these weapon systems gives ukraine the best _ missiles. these weapon systems gives ukraine the best chance _ missiles. these weapon systems gives ukraine the best chance to _ ukraine the best chance to defend themselves against the continued russian brutality. the themselves against the continued russian brutality.— russian brutality. the bank of encland russian brutality. the bank of england raises _ russian brutality. the bank of england raises interest - russian brutality. the bank of england raises interest rates. russian brutality. the bank of. england raises interest rates to 24.5%, the highest level in 15 years. eurovision fever heats up —— to 4.5%. countries take to the stage this evening for the second semifinal.

hello and welcome to the programme. we will start with breaking news from pakistan. we have been following events in pakistan after the arrest this week of the former prime minister imran khan and we havejust had an prime minister imran khan and we have just had an announcement from the supreme court saying that his arrest earlier this week was illegal. nearly 2000 people have been arrested so far and five have been arrested so far and five have been killed. this is after imran khan's supporters clashed with the police in a number of cities across the country. this related to his arrest on corruption charges. he has beenin arrest on corruption charges. he has been in a long—running battle with the authorities in pakistan relating to a number charges that had been brought against him. since he was ousted from office last year. the news on the screen from pakistan, suggesting that the arrest of imran

khan earlier this week was illegal. very few details about what else we know right now apart from they have ruled that his arrest is illegal, after he was arrested on tuesday in connection with a corruption case. his lawyers have been arguing his detention was unlawful and that arrest sparked protests across the country leading to the deaths of five people so far. we will have more reaction from our correspondent in islamabad late in the programme. now to news that the uk is to supply ukraine with long—range cruise missiles, they are known as storm shadow and they have a range of over 250 kilometres, about 150 miles, it is more than the us missiles which only have a range of about 80 kilometres. ben wallace said the weapons will give ukraine the best

chance of defending itself and he made that announcement in the house of commons a little earlier. in december i informed the house i was developing options to respond to russia up as my continued aggression and today i can confirm the uk estimating storm shadow missiles to ukraine, storm shadow is a long—range conventional only precision strike capability and it compliments the long—range system already gifted including harpoon missiles as well as ukraine's and neptune cruise missile and longer range munitions elsewhere gifted and the donation of these weapon systems gives ukraine the best chance defend themselves against russia's continued brutality especially the deliberate targeting of ukrainian civilian infrastructure was against international law. —— which is what up international law. —— which is what up the use of storm shadow will allow ukraine to push back russian forces based within ukrainian sovereign territory. that

forces based within ukrainian sovereign territory.— forces based within ukrainian sovereign territory. that is ben wallace, sovereign territory. that is ben wallace. the — sovereign territory. that is ben wallace, the defence - sovereign territory. that is ben l wallace, the defence secretary, speaking in the house of commons. this is important because it relates to the much touted so—called ukrainian counter offensive, a suggestion that ukraine will gather resources and try to take back large swathes of land which are currently under russian control. that counteroffensive is already under way according to some suggestions. ukrainian armed forces have secured some successes near the eastern town of bakhmut, it has been said, which has been at the centre are fighting for many months. very place for both russia and ukraine, with a lot of conflict and fighting going on right now. so what could the announcement mean for the offensive and the outcome of the war? james, put this

into context for us. the uk saying it will supply these missiles which is an important development? it has been unexpected, _ is an important development? it has been unexpected, and _ is an important development? it has been unexpected, and the _ is an important development? it 1:3 been unexpected, and the prime minister announced in february that he wanted the uk to be the first to deliver these longer range missiles which is now happening. the foreign secretary used the present tense and said the uk is donating these missiles and said some are on their way but they have yet to be tested. what this is going to do is give another crucial tool to ukraine for its use in a potential counteroffensive and if you are wanting to take back territory you need infantry and tanks and aircraft but you also need missiles, longer range missiles that can reach over those front lines to target russian i munitions dumps, fuel dumps, command centres, supply chains, so they can not retaliate and launch

their own counteroffensive against ukrainian counteroffensive. most of the missile system is that the ukrainians have are limited to about 50, 60 miles, ukrainians have are limited to about 50,60 miles, and the ukrainians have are limited to about 50, 60 miles, and the russians have withdrawn most of their key targets back so they are out of that range but if ukrainians these missiles that remain they will be able to better target those russian targets as and when they launch their counteroffensive.— as and when they launch their counteroffensive. talk to me about the diplomacy _ counteroffensive. talk to me about the diplomacy around _ counteroffensive. talk to me about the diplomacy around this - counteroffensive. talk to me about the diplomacy around this and - counteroffensive. talk to me about the diplomacy around this and the | the diplomacy around this and the diplomatic repercussions because ben wallace we are led to believe has put certain conditions on this, that the cruise missiles will only be used in ukrainian territory, an important point, and also saying that russia must recognise that their actions have led to this point, providing these resources to ukraine, basically saying we have no option, we need to supply ukraine with these resources.— with these resources. throughout this war every _ with these resources. throughout this war every time _ with these resources. throughout this war every time the _ with these resources. throughout this war every time the west - with these resources. throughout this war every time the west has| this war every time the west has given another military system whether it is an anti—tank weapon or

a tank itself or an anti—aircraft defence, the great fear in the west is that it escalates and it gives a pretext for moscow to escalate even further, and as we have seen in the conflict, it has not made that much difference but there is still the concern in the west especially with the us which is why they have been reluctant to give long—range missiles, because they fear you are giving a talk to the ukrainians that could potentially be used in russian territory —— giving a tool. we do not know what conditions have been attached to the delivery of these british missiles and whenever you talk to ukrainians, they say, we have every incentive to use the weapons responsibly because they know that if they use them irresponsibly and the military support from the west begins to dry up, that's a big problem because whatever happens, this would be a long war. the ukrainians hope that their promises and commitments and their promises and commitments and the fact they have an incentive not

to misuse them is enough, and it is clearly enough for the uk but the question now is whether it is enough for the us to follow suit. the uk has played a john the baptist role here especially with the promising of tanks for ukraine and it might be that they are playing a similar role here for longer range missiles and the americans follow suit sometime in the future. the americans follow suit sometime in the future-— in the future. really important background — in the future. really important background there. _ in the future. really important background there. james, - in the future. really important i background there. james, thanks in the future. really important - background there. james, thanks for joining us. our diplomatic correspondent there. the timing is important because before that announcement about cruise missiles on the uk heading towards ukraine, ukrainian president has been speaking and he says his country still waiting for more arms to be delivered before it launches its counteroffensive against russian forces. volodymyr zelensky warned that ukrainian army still needs supplies including things like armoured vehicles and he says they are only arriving in batches. he was speaking to the bbc in kyiv.

the counteroffensive is likely to be crucial for ukraine, the counteroffensive is likely to be crucialfor ukraine, not the counteroffensive is likely to be crucial for ukraine, not only because of what happens on the battlefield but also in terms of the military support being given by western countries to ukraine, and over weeks and months we have been talking about this counteroffensive and i asked the president whether his country was ready for it. i have been here for a few weeks in every issue has touched upon the ukrainian counteroffensive. are you ready for this counteroffensive? translation: mentally, we're ready. in terms of how motivated our military are, we're ready. in terms of enough personnel in our brigades, we're ready. in terms of equipment, not everything has arrived yet. that's my answer. so you're still waiting for weapons and for the kind of military

equipment that you've been promised to arrive? translation: yes, we're | still expecting some things. they will reinforce our counteroffensive and most importantly they will protect our people. we're expecting armoured vehicles. they arrive in batches. we can advance with what we've got, and i think we can be successful, but we'll lose a lot of people. i think that is unacceptable. we need to wait, we need a bit more time. last week moscow accused ukraine of being behind this apparent attack on the kremlin. it claimed it was an attempt to assassinate president putin. was ukraine a behind the alleged attack? translation: no, clearly we were not behind it. - they're always looking to do something that would look

like justification — "you do this and we do "this in response." but it did not work, even for their own people at home. who but it did not work, even for their own people at home.— but it did not work, even for their own people at home. who was behind it? ithink own people at home. who was behind it? i think they _ own people at home. who was behind it? | think they did — own people at home. who was behind it? | think they did it _ own people at home. who was behind it? i think they did it themselves. - it? i think they did it themselves. nothing happened there. what happened, what kind of magical things carrying bombs? why did it fail? no one was killed. everybody was safe and sound, and that is why they did it themselves, absolutely. i'm confident of this. heat they did it themselves, absolutely. i'm confident of this.— i'm confident of this. next year is an election _ i'm confident of this. next year is an election year _ i'm confident of this. next year is an election year in _ i'm confident of this. next year is an election year in america - i'm confident of this. next year is an election year in america which| i'm confident of this. next year is l an election year in america which is your main ally. i an election year in america which is your main ally-— your main ally. i cannot vote. i a citizen in — your main ally. i cannot vote. i a citizen in ukraine _ your main ally. i cannot vote. i a citizen in ukraine and _ your main ally. i cannot vote. i a citizen in ukraine and i _ your main ally. i cannot vote. i a citizen in ukraine and i cannot i your main ally. i cannot vote. i a l citizen in ukraine and i cannot say who i would vote for. i am a citizen of ukraine. who i would vote for. i am a citizen

of ukraine-— of ukraine. are you concerned that who ever is — of ukraine. are you concerned that who ever is elected _ of ukraine. are you concerned that who ever is elected could - of ukraine. are you concerned that who ever is elected could mean - of ukraine. are you concerned that l who ever is elected could mean that you are losing your support from your main ally? it you are losing your support from your main ally?— your main ally? it is hard to say, elections and _ your main ally? it is hard to say, elections and internal _ your main ally? it is hard to say, elections and internal processes| elections and internal processes always affect any country especially if you talk about elections in the us. first, ido if you talk about elections in the us. first, i do not think we pipe bar report and —— i do not think webelos bipartisan —— i do not think lose bipartisan support. how disappointed are you that you cannot host eurovision? i how disappointed are you that you cannot host eurovision?— how disappointed are you that you cannot host eurovision? i have great resect for cannot host eurovision? i have great resoect for the _ cannot host eurovision? i have great respect for the uk _ cannot host eurovision? i have great respect for the uk and _ cannot host eurovision? i have great respect for the uk and its _ cannot host eurovision? i have great respect for the uk and its society - respect for the uk and its society and it is an amazing country. from

the start my opinion has been that if we cannot host eurovision it should take place in one of the countries that share a border with us. such as slovakia or poland or any other country which our people can reach easily, something nearby. that was president zelensky talking about eurovision but also about the much anticipated ukrainian counteroffensive. we don't know when and where that is likely to happen and where that is likely to happen and nearly a fifth of this country remains under russian occupation so this next phase of the war is likely to be extremely difficult for the ukrainian military. russian forces have fortified some of their positions along the front line. the president also warned of the risks of a frozen conflict and he said this is what moscow wanted. he also raised concerns that ukraine could be facing some pressure to enter

negotiations with russia if the ukrainian military did not achieve major gains in this counteroffensive and that could include talks about territorial concessions and russia claims to have annexed four regions of the country and the president said this was unacceptable and he told me, why should any country give its territory to president putin? around the world and across the uk, this is bbc news.— this is bbc news. excited, nervous. at 88, martin — this is bbc news. excited, nervous. at 88, martin was _ this is bbc news. excited, nervous. at 88, martin was given _ this is bbc news. excited, nervous. at 88, martin was given the - this is bbc news. excited, nervous. at 88, martin was given the chance | at 88, martin was given the chance to fly in a light aircraft for the first time, his request when he was asked by carers if there was anything he wanted to do. and he was

away for a flight that would give martin unrivalled views over the south coast and the chance to be a pilot. south coast and the chance to be a ilot. a , ., south coast and the chance to be a ilot. a, i. ., _, ., south coast and the chance to be a ilot. i. ., _, ., | pilot. martin, you have control. i have control. _ pilot. martin, you have control. i have control. his _ pilot. martin, you have control. i have control. his experience - pilot. martin, you have control. ij have control. his experience was rovided have control. his experience was provided by _ have control. his experience was provided by the _ have control. his experience was provided by the care _ have control. his experience was provided by the care company i have control. his experience was l provided by the care company that helps martin at home as part of efforts to improve their client lives. ., ., ., ., ., efforts to improve their client lives. ., ., ., , lives. never too late and that is something _ lives. never too late and that is something we _ lives. never too late and that is something we have _ lives. never too late and that is something we have got - lives. never too late and that is something we have got to - lives. never too late and that is something we have got to learn lives. never too late and that is - something we have got to learn more, that it _ something we have got to learn more, that it is _ something we have got to learn more, that it is possible to really enjoy teter— that it is possible to really enjoy later life — that it is possible to really enjoy later life and that is what this is all about — later life and that is what this is all about. ., ., later life and that is what this is all about. ., . �* �* all about. you are life with bbc news. interest _ all about. you are life with bbc news. interest rates _ all about. you are life with bbc news. interest rates have - all about. you are life with bbc| news. interest rates have risen all about. you are life with bbc. news. interest rates have risen to 4.5%, the highest level in 15 years, and the bank of england is trying to tackle persistent inflation which is over 10% in march but the bank also

upgraded the prospects for the british economy, saying it now thought the uk would grow modestly over the next couple of years. we can speak to our business reporter. a bit more explain because inflation is above 10% at the bank of england says we have got to act now to bring it down. —— and the bank of a man. you can see inflation in recent years bubbling along at around 2% which is the bank of england's target so sometimes it has been above and sometimes below but not too far from it and that is until the height of the pandemic and just after, when inflation started to rise very rapidly, notjust here but all around the world, peaking well over 10%, and it has fallen in recent months but it is close to a 40 recent months but it is close to a 1t0 year high, 10.1%, and the governor of the bank of england explains the rationale for why interest rates would rise to

accommodate and deal with the inflation of that level. economic activi is inflation of that level. economic activity is holding _ inflation of that level. economic activity is holding up _ inflation of that level. economic activity is holding up better- inflation of that level. economic| activity is holding up better than expected — activity is holding up better than expected so today we are forecasting modest _ expected so today we are forecasting modest but positive growth and a much _ modest but positive growth and a much smaller increase in unemployment. we think inflation will unemployment. we think inflation witt fatt— unemployment. we think inflation will fall quite sharply over the coming — will fall quite sharply over the coming months, beginning with the april number, which will be released in a couple _ april number, which will be released in a couple of weeks. energy prices have _ in a couple of weeks. energy prices have fallen — in a couple of weeks. energy prices have fallen from their peaks and that we — have fallen from their peaks and that we now start to come through as low inflation. —— that will. food price _ low inflation. —— that will. food price inflation will ease but we can be less_ price inflation will ease but we can be less sure about this in terms of timing _ be less sure about this in terms of timing but — be less sure about this in terms of timing but let me be clear, inflation _ timing but let me be clear, inflation remains too high. that was andrew bailey. _ inflation remains too high. that was andrew bailey, the _ inflation remains too high. that was andrew bailey, the governor- inflation remains too high. that was andrew bailey, the governor of - inflation remains too high. that was andrew bailey, the governor of the | andrew bailey, the governor of the bank of england, explaining that inflation is too high and also drawing attention specifically to food inflation which bite march 2023 was running at 19.2%. inflation is at 10.1% and food inflation 19.2%,

nearly twice the rate of general inflation in the uk economy, that is because some items were —— food like stables in the economy like milk and bread were rising very fast indeed. we know tackling rising prices is proving to be a lot harder for policymakers across the world but it seems to be stubbornly high in the uk compared to other countries? it is coming down in the uk yes, but more slowly, so let's have a look at the international graph which looks at interest rates and we can see how different countries are tackling inflation. interest rates are at 3.7%, a bit lower than we have, that is in the eurozone. in the us they are slightly higher than we have. in the us it has not been affected so much by external factors,

the us it has not been affected so much by externalfactors, especially energy, but the eurozone and uk been affected by energy price increase especially as a result of what has been happening in ukraine. one of theissues been happening in ukraine. one of the issues particular to the uk, a consequence of brexit, a tight labour market with fewer workers coming into the uk to work, but also supply chain issues that have also been affected by brexit, and those factors have put pressure on inflation which is why it is running higher than in the euro area. david, thanks forjoining _ higher than in the euro area. david, thanks forjoining us. _ higher than in the euro area. david, thanks forjoining us. we _ higher than in the euro area. david, thanks forjoining us. we will- higher than in the euro area. david, thanks forjoining us. we will have i thanks forjoining us. we will have much more on that rise in interest rates in the uk and what it could mean around the world. we have the world business report coming up in about ten minutes. now to news that the pakistan supreme court said the arrest of the former prime minister imran khan is invalid and imran khan was arrested on tuesday as you know and he was told yesterday it would

be held —— he would be held on remand for eight days and the government have now called in the army to restore order after protests by imran khan's supporters. they have been trying to limit the spread of unrest but it has led to the arrest of nearly 2000 people and the deaths of five. that is after supporters of imran khan clashed with police. we will bring you further details from there and speak to our correspondent in islamabad in the next half an hour. more exchanges of gunfire between israel and palestine in gaza. missiles appear to be drawn strong gaza. many

of the missiles were shot down by the israel defence system. some of the israel defence system. some of the projectiles made it through. as you can see from those pictures and they show the damage caused by what israel claims was a palestinian missile. this damaged building was hit by a strike before dawn and it is said to be the home of a commander of the islamicjihad commander of the islamic jihad militant commander of the islamicjihad militant group who is reported to have been cured. a total of 22 people have now been killed in gaza according to palestinian sources. we can now hear from according to palestinian sources. we can now hearfrom our correspondent at the israeli border. here can now hear from our correspondent at the israeli border.— at the israeli border. here people saw repeated _ at the israeli border. here people saw repeated barrages _ at the israeli border. here people saw repeated barrages of - at the israeli border. here people saw repeated barrages of rockets | saw repeated barrages of rockets yesterday and more than 400 were

actually been to a house that was badly damaged when it was hit and the owner was in her bomb shelter at the owner was in her bomb shelter at the time. the expectation is that more rocket fire will happen because israel has carried out further air strikes inside the gaza strip and the funeral has taken place of the fourth leader of islamichhad to be killed in the three days of this israeli operation and his death brings to 25, the number of palestinians who have been killed, including women and young children. egypt is continuing efforts to mediate a ceasefire here but that will be difficult because islamic jihad we want to avenge their latest lost leader and they want to say israel to end their policy of targeted assassinations. ih israel to end their policy of targeted assassinations. in the uk after months _

targeted assassinations. in the uk after months of _ targeted assassinations. in the uk after months of cancelled - targeted assassinations. in the uk after months of cancelled trains i targeted assassinations. in the uk i after months of cancelled trains and repeated complaints of poor service, the company that runs services in the company that runs services in the north of england has been stripped of its contract. the network will now be run by the government and it is the fourth rail operator to be nationalised since 2018. katy austin now has the details. this comes after months and months of complaints from passengers about daily cancellations and the impact of that on their lies. transpennine has come under criticism from the number of trains it has removed from timetables on the night before due to staff shortages and it accounts for one in six of its services for the end of march, the highest in the country, but a slight improvement from the previous month. the company had put problems down

to a variety of factors including high staff sickness and a lack of an overtime agreement with the drivers union aslef and insisted a recovery plan was starting to work. by removing the contract and bringing the operator under government control, a chance to reset relationships with staff, trade unions and passengers. but they cautioned it would not be a silver bullet. because of the level of control the government already has over the rail network, in practical terms, in a way, not much will change. but mayors in the north of england say they hope it will provide the opportunity for a fresh start. katy austin there. one of the stars of the coronation of king charles was penny mordaunt, the lord of the privy council, you might remember her carrying the sword through much of the ceremony. the sword of state. she swapped that one for the sort of offering after charles was crowned. she was the first woman to take on that role she has been talking about how she did it. —— andy.

has been talking about how she did it- -- andy-— has been talking about how she did it. --and . ., . , , it. -- andy. how much pumping i was there? this — it. -- andy. how much pumping i was there? this story _ it. -- andy. how much pumping i was there? this story has _ it. -- andy. how much pumping i was there? this story has developed -- i there? this story has developed -- --umin~ there? this story has developed -- pumping iron _ there? this story has developed -- pumping iron was _ there? this story has developed -- pumping iron was there? _ there? this story has developed -- pumping iron was there? i - there? this story has developed -- pumping iron was there? i did - there? this story has developed -- pumping iron was there? i did take j there? this story has developed -- i pumping iron was there? i did take a coule of pumping iron was there? i did take a couple of painkillers _ pumping iron was there? i did take a couple of painkillers beforehand - pumping iron was there? i did take a couple of painkillers beforehand to i couple of painkillers beforehand to make _ couple of painkillers beforehand to make sure i was going to be all right— make sure i was going to be all right but— make sure i was going to be all right but it _ make sure i was going to be all right but it is fine. it is all good and we — right but it is fine. it is all good and we got _ right but it is fine. it is all good and we got through it and it is only half the _ and we got through it and it is only half the ceremony that i had to carry— half the ceremony that i had to carry the — half the ceremony that i had to carry the sword of state which is a really _ carry the sword of state which is a really heavy one and then i traded it in for— really heavy one and then i traded it in for the — really heavy one and then i traded it in for the very exquisite sword of offering. for it in for the very exquisite sword of offering-— of offering. for the really heavy one, of offering. for the really heavy one. what _ of offering. for the really heavy one, what other _ of offering. for the really heavy one, what other tips _ of offering. for the really heavy one, what other tips if - of offering. for the really heavy one, what other tips if in - of offering. for the really heavy one, what other tips if in a - of offering. for the really heavy one, what other tips if in a few| one, what other tips if in a few years' time someone says they have got to do thatjob, what other tips to holding the sword? holding it without any shaking at all? it is ractice. without any shaking at all? it is practice. like _ without any shaking at all? it is practice. like anything you are

preparing _ practice. like anything you are preparing for, do not leave anything to chance _ preparing for, do not leave anything to chance. have a good breakfast and wear comfortable shoes. i had a great _ wear comfortable shoes. i had a great team with me. the former defence — great team with me. the former defence chiefs who are standing next to me _ defence chiefs who are standing next to me with _ defence chiefs who are standing next to me with the other swords in the ceremony. — to me with the other swords in the ceremony, we were all there supporting each other and we had obviously— supporting each other and we had obviously been talking under our breath— obviously been talking under our breath at— obviously been talking under our breath at each other during rehearsals and keeping everyone going~ _ rehearsals and keeping everyone anoin. ., , rehearsals and keeping everyone ttoin _ ., , , , rehearsals and keeping everyone anoin. ,, going. top tips if you ever find ourself going. top tips if you ever find yourself in _ going. top tips if you ever find yourself in a — going. top tips if you ever find yourself in a position - going. top tips if you ever find yourself in a position to - going. top tips if you ever find yourself in a position to do - going. top tips if you ever find i yourself in a position to do that! penny mordaunt talking to nick robinson on his bbc podcast �*political thinking' — about her role in the coronation of king charles. you can listen to the full podcast via the bbc app. hello again. the early morning cloud was through

the plane here, a beautiful picture, but now to the cloud spotting. plenty of that. many of the clouds are turning into thunderclouds, and the big problem is the storms will be slow—moving because there's not much wind moved along so there is the threat of localised flash flooding. you are likely to seek showers across the pennines. that'll be very widespread here and some of them torrential and also draped around the coast of east anglia, a few across the south downs because the storms are slow moving. rainfall totals can build up 20 to 50 millimetres of rainfall in the space ofjust an hour or two. that is why we could see some flash flooding this afternoon. now, overnight, the showers do clear off as we start to draw in some cooler cloudier weather from the north sea and that will tend to lower the temperatures.

so we're not going to see the same amount of showers around for friday, that's for sure. but it's a different type of weather we'll have across the north sea regions. a lot of low clouds start the day. a weak weather front bringing some patches of light rain across east anglia, pushing towards the midlands, south east england and central southern england. now, away from that, there will be some sunshine for scotland, northern ireland, western parts of england and for wales. and in the sunshine it's going to feel warm tomorrow with highs up to 18 degrees or so. but feeling cool around the north sea coast. the weekend? well, we start off with high pressure across the uk on saturday and with that we could see temperatures go as high as 22 degrees, which would make it the warmest day of the year so far. however, we really shouldn't get too excited by 22c because at this time of the year, in previous years, we've already had much warmer spells of weather. more typically, temperatures reached 25—26 degrees by this time of the year. so it has been relatively cool. now, saturday, we start off with a bit of cloud, but there will be some sunshine

coming through widely. the highest temperatures, scotland and northern ireland, that's where we could see the temperatures hit 22 degrees celsius in the best of the sunshine. make the most of that on saturday because it's all change on sunday. it looks like it's going to turn a lot cloudier with outbreaks of rain and cooler weather conditions extending in from the northwest. that's the weather for now.

the bank of england raises interest

rates to a 15 year high