has been, but flatter than it has been, but it is taking its lead from wall street which was also mixed. as they had heard the news from they had heard the news from the fed. that is because the us federal reserve has warned that more hikes might be coming later this year. from outside the federal reserve of washington, dc. from march of 2022, interest rates have gone up 2022, interest rates have gone up 5%, an enormous amount in a short period of time. on wednesday, policy inside her all agreed, wednesday, policy inside her allagreed, given wednesday, policy inside her all agreed, given its historic rate hike campaign, now is the time to take a break and give the economy time to adjust its actions, that have pushed up its cost of borrowing for things like mortgages, business loans and credit cards. the decision left the feds benchmark rate unchanged, and a range between 5% and five and a quarter %, range between 5% and five and a quarter%, but range between 5% and five and a quarter %, but for companies and consumers alike, the pain may not be over, as the federal

chair to powell made clear during his press conference with us inflation running still well above the bank? 2% target, and itsjob is not yet done. figs and its job is not yet done. as an one and itsjob is not yet done. sis anyone can and itsjob is not yet done. is anyone can see, not a single person wrote down a rate cut this year, not i think it is at all likely to be appropriate if you think about it. inflation has not really down, it has not so far reacted much to our existing rate hikes, and so we're going to have to keep at it. ~ .,, we're going to have to keep at it. most officials think two rate heights _ it. most officials think two rate heights are _ it. most officials think two rate heights are needed . it. most officials think two l rate heights are needed this year, perhaps starting as early as this month. wednesday's decision ushers in a new phase to battle prices and follows a path carved out by central banks in countries such as australia and canada which recently announced rate hikes following a break. the latest decision by american central bank comes a time when inflation is slowing but not as quickly as the federal reserve wanted to be. i spoke to an

expert earlier who gave us her take on the move to pause interest rates. i take on the move to pause interest rates.— interest rates. i think it's very important _ interest rates. i think it's very important for- interest rates. i think it's very important for the i interest rates. i think it'sl very important for the fed interest rates. i think it's - very important for the fed to take a look around and consider monetary policy lags, they tighten monetary policy very fast over the last 15 months and we are at a level with interest rates where businesses and consumers are feeling the pain and are feeling the tightening in monetary policy that we have received and now they have to be more considered about the pace at which they proceed from here. there is a clear sense of urgency and of the fact that more needs to be done to bring inflation down but at the same time doing this at a pace to the economy and markets can absorb it more gradually, so that they can keep the parts of a soft landing still alive.- keep the parts of a soft landing still alive. the last time we — landing still alive. the last time we spoke _ landing still alive. the last time we spoke was - landing still alive. the last time we spoke was last. landing still alive. the last - time we spoke was last month and there was a banking crisis that was going on. where do we stand? how much of that they still considering? i stand? how much of that they still considering?— still considering? i think this remains something -

still considering? i think this remains something that - still considering? i think this| remains something that they monitor very closely, and they also had that treasury general account which means there will be some liquidity being drained out of the financial system here in the us, but when you look at the data, the tightening and credit conditions has not been that much more significant than it was before the banking crisis, and we're not seeing the events of march play out the real economy is a big struck and actually this was a pretty special meeting where they arrived with a set of forecasts, so they told us in june that they have a better view of the economy going forward, there are outlook for growth and the labour market is more optimistic than it was in march, and that's why i think they now share this collective view that the need to do more tightening and monetary policy. we needed — we were worried for quite some time about a recession in the world's biggest economy. is that still a possibility?— biggest economy. is that still a possibility? you have to take the possibility _ a possibility? you have to take the possibility pretty _ the possibility pretty seriously in this business

cycle because of the pace in which financial conditions have tightened, and how high inflation is, there is a real chance that the fed may need to create much more slack in the labour market in order to bring inflation down, and is typically when you create this much slack recessions start to follow, so that remains a real possibility, it's hard right now to have conviction with regards to the exact when the economy may really feel the pain from the tightening monetary policy. staying with the cost of — monetary policy. staying with the cost of living, _ monetary policy. staying with the cost of living, and - monetary policy. staying with the cost of living, and india i the cost of living, and india is seeing the annual wholesale prices of may slide following into negative territory for the second straight month. most economies are not surprised by this and it's largely because this and it's largely because this is being driven by a global drop in commodity prices, to think such mineral oils, crude petroleum and natural gas as well as food is all getting cheaper. the quantum of the easing bill, the

-3 1/2% quantum of the easing bill, the —3 1/2% was quantum of the easing bill, the —31/2% was more than what both analysts were expecting, but wholesale inflation will continue to fall further and remain in doubt for at least a few more months, and they will be watching up any upward movement in crude oil prices with el nino —like conditions that could impact agriculture because that poses an outside risk to inflation and these numbers will get some relief to the indian central bank which kept its key lending rates steady recently but signalled that rates will not come down for some time as it looks for further inflation release, particularly on the west side. meanwhile, canada is moving to freeze its ties with the china lead asia infrastructure investment bank following allegations that it was dominated by the chinese communist party. authorities are investigating the claims brought by the bank's form a

global communications director, who announced his resignation on wednesday. the ai ib has called the claims baseless and disappointing. regulators from the european union have warmed that google may have to sell part of its ad tech business to address concerns. advertising is google's parent company alphabet�*s largest moneymaker and accounted for 79% of total revenue last year but the european commission has accused google of favouring its own and services. here in asia, football legend lionel messi is set to play in a friendly match between argentina and australia's later today. messi's presence has driven a prize is notjust a match tickets but also for hotel bookings. i spoke to tom by earlier and he is a football development advisor and explained why skyhigh prices won't deter fans from

attending. i won't deter fans from attending.— won't deter fans from attending. won't deter fans from attendinu. ., �* ,, attending. i don't think so because — attending. i don't think so because they _ attending. i don't think so because they are - attending. i don't think so because they are playing l attending. i don't think so i because they are playing the game in the new beijing worker stadium which is renovated and so there is a lot of interest around going to that stadium as well, but when you have the world cup champions and one of the greatest players of all time playing, i think people are willing to payjust about anything and that's what it's turning out to be. xi anything and that's what it's turning out to be.— turning out to be. xi jinping has an ambitious _ turning out to be. xi jinping has an ambitious goal- turning out to be. xi jinping has an ambitious goal for. has an ambitious goal for football, he wants to make it a powerhouse. how ambitious is this goal and how is he going about it? i know you played a part in this. in about it? i know you played a part in thie— part in this. in 2015 the central _ part in this. in 2015 the central government - part in this. in 2015 the - central government created a policy that made football mandatory in schools so i worked on what is called the 50,000 school project where i actually personally helped to devise the technical curriculum and the whole concept was to put up a football programme into the schools, and before that, before 2015 they had a similar programme called the chinese school football

programme that was run basically as a collaboration between several different organisations but from 2015, they handed the total responsibility over to the ministry of education, and of course with the pandemic this has changed lots of things, but that's basically the main strategy for implementing a football strategy for development.- football strategy for development. football strategy for develoment. . , development. china has been hundreds of _ development. china has been hundreds of millions - development. china has been hundreds of millions of - development. china has been | hundreds of millions of dollars to build its chinese super league. is not been successful. why do you think that is? is, why do you think that is? couple of things. they spent, they overspent in the early days, most of the csl clubs, many of them were owned by real estate moguls, companies, some owned by the government, some privatised, so when the real estate bubble burst we saw a lot of decrease in funding and some of these football clubs, some of these football clubs, some of these football clubs, some of them literally going underwater, so there has been a major crisis and that, coupled with the newest scandal going

on with corruption and cracking down on that, we had this back in 2009 and now we have got a second round this time as well, so football is struggling and hopefully it can rebound in the future. ., ., ~' hopefully it can rebound in the future. ., ., ,, ., future. you talk about corruption, _ future. you talk about corruption, how- future. you talk about. corruption, how pervasive future. you talk about - corruption, how pervasive is it in this sport? corruption, how pervasive is it in this sport?— corruption, how pervasive is it in this sport?— in this sport? first of all you have got. — in this sport? first of all you have got, let's _ in this sport? first of all you have got, let's talk - in this sport? first of all you have got, let's talk about. have got, let's talk about you've got the football business aside you had the technical development side in the business side is a multibillion dollar industry, and that depends upon what is happening in the development of —— development of players, so a lot of bureaucracies are involved in the game, low—wage people making big decisions that have huge amounts of responsibility that are able to choose different brands to work in different segments of the game, and i think that's where you run into some of the problems that they have been running on into.— running on into. finally, if ou running on into. finally, if you are a _ running on into. finally, if you are a disney - running on into. finally, if you are a disney fan - running on into. finally, if you are a disney fan and l running on into. finally, if. you are a disney fan and have running on into. finally, if- you are a disney fan and have a few thousand dollars to spend

and are looking for a once—in—a—lifetime experience, well, adventures by disney is launching a 2k day private jet around the world tour of its theme parks. that's all we have for you, theme parks. that's all we have foryou, i theme parks. that's all we have for you, i am monica miller. the tuesday after the king's combination and caroline said it was the heaviest rain she had ever witnessed. incident to pour into her home, flooding the downstairs, but for repairs to take place, they are having to take place, they are having to move out for at least six months. to move out for at least six months-— to move out for at least six months. ~ ., ., ., ., months. we have all had our moments — months. we have all had our moments of _ months. we have all had our moments of being _ months. we have all had our moments of being very - months. we have all had our - moments of being very emotional and upset — moments of being very emotional and uset. , ,.,, ., ., and upset. opposite caroline, alice runs _ and upset. opposite caroline, alice runs her _ and upset. opposite caroline, alice runs her own _ and upset. opposite caroline, alice runs her own catering i alice runs her own catering company. her kitchen was completely flooded and the cost to her business has been severe. to her business has been severe-— to her business has been severe. . ., ., . ., severe. we chose not to claim on our insurance _ severe. we chose not to claim on our insurance and - severe. we chose not to claim on our insurance and claim - severe. we chose not to claim on our insurance and claim on| on our insurance and claim on the cost ourselves because we are more scared as to whether

we will get renewal, and how much will a premium go up with rising costs all the time, and you just can't afford to keep paying a premium.- you just can't afford to keep paying a premium. there was criticism the _ paying a premium. there was criticism the rumours - paying a premium. there was criticism the rumours are - paying a premium. there was criticism the rumours are not| criticism the rumours are not kept clear by the environment agency says the amount of water that they was overwhelming. there was a huge amount of water in a short space of time to get to that channel and the truth is that the channel size was overwhelmed. the truth is that the channel size was overwhelmed. the water came and went in — was overwhelmed. the water came and went in a _ was overwhelmed. the water came and went in a matter _ was overwhelmed. the water came and went in a matter of _ was overwhelmed. the water came and went in a matter of hours. - and went in a matter of hours. the cleanup and the recovery will take a lot longer. for more stories _ will take a lot longer. for more stories across - will take a lot longer. for more stories across the l will take a lot longer. fr?" more stories across the uk, head to the bbc news website. tonight, cocaine and surfboards, hay fever surges and platypus chaos. first, the

families of two students who were killed in nottingham have come together at a huge visual on the uni— campus, barnaby webber and grace o'malley kumar were stabbed to death early on tuesday morning, 65—year—old school caretaker ian coates was also killed. thousands gathered to pay their respects. it’s to pay their respects. it's been hard _ to pay their respects. it's been hard to _ to pay their respects. it�*s been hard to comprehend what has happened in this city into our students in the 36 hours. what should have been one of the biggest celebrations for student bodies have turned into one of our darkest days. it’s one of our darkest days. it's been six _ one of our darkest days. it's been six years _ one of our darkest days. it's been six years since the ground felt higher — tower fire that killed 72 people. the public enquiry has finished but the community is still waiting for the final report —— grenfell tower. the latest on philip schofield, itv buyers have told mps they did not ignore rumours he was having a relationship with a younger colleague. they

did not see evidence until recently. are you struggling with hayfever? one hospital has asked people to avoid a link for nonurgent problems because of hot weather and hayfever. and police in uruguay said they have broken up a drugs ring which smuggled cocaine from south america to europe hidden in surfboards. and ten seconds of pure chaos, two platypuses have been caught fighting for territory in australia, apparently it went on for 20 whole minutes which is absolutely crazy. i do hope they have made up now. and you are all caught up now, see you later!

i'm katherine downes from the bbc sport centre. coming up for you, bbc sport centre. coming up for you” - it's official — the england internationaljude belligham signs a six year deal with real madrid we hearfrom both the england and australia camps ahead of the first ashes test. and golf heads to tinseltown for the us open, after a week of dramatic storylines. hello and thanks forjoining us, here's your latest sports news. jude bellingham has bid an emotionalfarewell

to borussia dortmund fans on his social media,