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tv   BBC News  BBC News  November 7, 2024 11:45am-12:01pm GMT

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hello from the bbc sport centre. while a premier league team is the only one to register four wins from four in the champions league so far, the others continue to stutter. after manchester city's defeat on tuesday, both arsenal and aston villa lost for the first time on wednesday, beaten by a penalty kick each, one verging on the comedic. arsenal have gone three games without a win in the premier league and lost 1—nil at inter after hakan calhanoglou's spot kick was given for a deflection off mikel merino which mikel arteta said was �*very very difficult to accept�*. happy apart from that. in the end we didn't do what we had to do and when we didn't, somebody else didn't, that is it. but for sure, this is the way want to see my team and the
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other big games we have played in europe, this was by far the best we've played in the last few years. aston villa's first defeat came at the hands of club brugge whose penalty came in bizarre circumstances. villa defender tyrone mings who was playing only his second game after 14 months out inexplicably picked up the ball after it had been played to him from a goal kick. his boss unai emery called it "the biggest mistake i witnessed in my career", but the brugge boss was a little less scathing. it isa it is a manager is a nightmare, isn't it? that's for sure and we knew it immediately because he took the ball and played it to the defender and didn't notice it, so we immediately saw it was a penalty. but in the end, it is a penalty. if we had to deal with something like that, it would have been very sour but it's just a small present like this which will take on gladly. villa's defeat doesn't prevent them from hanging on to one of the top 8 automatic qualifying positions. inter�*s win takes them up to 5th.
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they�* re level on points with brest, the team that only 20 years ago were among the amateur ranks but another win on wednesday has them among the elite in europe. below them, barcelona won for a third straight time. their 5—2 victory over sparta prague meaning they've now scored three or more in each of their last seven games. it is clear we want to win, we want to win the three points, so you saw yesterday how difficult it is to win away, so our focus was on the three points and i'm really happy with the team because they played really good with the ball and also in 90 minutes, it was really good to see that with the ball. for all the achievements of the likes of brest in the champions league, one of the teams in the europa conference league might have an even more remarkable story. fc noah are the armenian club only formed in 2017, adopting their current name two years later, changing ownership, their stadium,
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and even city in their short history. named because they're from a town in the shadow of mount ararat, where the biblical ark is to have come to rest, fc noah bring a team who have only been together a few months to stamford bridge to face chelsea in one of the biggest games in armenian football history. it's a great honour to have this game, it's a very big game in the short history of our club and the major game we play until now and all about tomorrow is going into the game and doing the best we can, giving the toughest match we can to chelsea and every game we go in, we go into to try to take the best out of it, so this is what the players are used to, for every game, to give their best and to try to take the three points. a six under par 66 has given a lim kim a one shot lead at the lotte championship in hawaii, as the former major winner attempts to break back into the world's top 60. that would give
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the korean a place in the season—ending tournament, with 4 million dollars going to the winner. it's four years since her only lpga tour victory when she won the us open in her major championship debut. five players are tied behind kim for second. the cleveland cavaliers have set a franchise record for the best start to a season after winning a ninth straight game on wednesday. donovan mitchell's 29 points took them to 9 and 0 with a victory over the new orleans pelicans. meanwhile, steph curry has gone up one more place in the nba all time scoring list — he's now 30th. and above the legendary charles barkley after his 27 points in the golden state warriors�* win over the defending champions boston celtics. and here�*s another record — this time for demar derozan, who became the first sacramento kings player to score at least 20 points in each of his first eight games with the team. the former chicago bull and six time all star got 27 in the kings�* 122—107 win over
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the toronto raptors. meanwhile the la lakers lost again. their defeat at the memphis grizzlies was their fourth in the last five games. and it came without the injured anthony davis. and despite lebronjames�* season—high 39 points. it led to this testy exchange between coach jj redick and a reporter post—game, when he was asked about how the lakers might have lacked toughness on the court. jj, you jj, you are talking a lot of out of two or three guys getting into putting the effort and you talked a lot about wanting to play hard and lebron james being the guy that played harm, so how do you address that with the team what is your philosophy? i how do you approach it? i philosophy? i how do you approach it?— and itjust so happens it�*s also time for me to go but not before i tell you about the fact there are more stories on all of those on the bbc sport website, so head there for more preview and review of the european football as well, but that�*s it for me. thanks for watching. goodbye.
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the bank of england is due to announce its decision on interest rates shortly in a move closely watched by businesses and consumers. most analysts predict that the benchmark rate will fall from its current level of 5% to 4.75%, and this would be the second cut this year. that could make borrowing money cheaper, but is likely to reduce the returns available to savers. let�*s take a look at how the base rate has changed over the past three years. back in march 2020, when the uk went into lockdown as a result of the coronavirus pandemic, rates hit an all—time low of 0.1%, where they remained for more than a year, until december 2021. the rate then crept upwards and hit a peak of 5.25% in august last year, where it stayed for a whole year. a long—awaited drop came from the bank of england a few months ago in august,
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when the rate fell to 5%. today another drop is expected — potentially bringing the rate down to 4.75%. 0ur chief economics correspondent dharshini david joins us predictions are that the bank of england will reduce the rate. why are we so convinced that that possibly could be the case? �* ., that that possibly could be the case? �* . w , , case? bear in mind exactly why the bank of _ case? bear in mind exactly why the bank of england _ case? bear in mind exactly why the bank of england fiddles - the bank of england fiddles around with interest rates, and thatis around with interest rates, and that is to get inflation to the 2% target and keep it there and both parts of that are very important indeed so if you look at what has happened to inflation, we know we had a huge shock triggered by the war in ukraine and the soaring energy and food prices and what we saw as a result was a spike in inflation and that has calmed down inflation is back towards the target on the available numbers and the bank
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of england is expected to be comfortable enough to cut interest rates of the second time and bring relief to borrowers who might be looking at this quite anxiously because there are about to take out a mortgage and that�*s the kind of news they want to hear but remember i said this is about keeping inflation down as well so although we have passed the iceberg, the cost of living shot, there are risk factors out there and amongst them are a couple of things that none of us do a few weeks ago, the contents of rachel reeves budget which our own forecasters say will add to inflation and what we have heard happen in the last day or two, the election of president trump who will take over again at the start of next year. and there are concerns that both of those my add to inflation but what we wait to see is how much the bank of england thinks it could impact the future path of inflation and therefore how quickly it reduces interest rates after this.— quickly it reduces interest rates after this. , .,
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rates after this. remind us how this works _ rates after this. remind us how this works out. _ rates after this. remind us how this works out. you _ rates after this. remind us how this works out. you have - rates after this. remind us how this works out. you have the i this works out. you have the monetary policy committee making the decision and back in august it was not a unanimous decision in order to keep the rate at 5%. reminders how the decision—making process is done. decision-making process is done. ., ., ., done. there are nine on that monetary — done. there are nine on that monetary policy _ done. there are nine on that monetary policy committee, | done. there are nine on that. monetary policy committee, a mix of men and women and it wasn�*t always the case and you don�*t see the gender balance back then like we do now but we can show you some pictures coming in of them in the next hour and what they do is they pore over all of the evidence, some of them work in the bank of england, some from outside and they look at how the economy has developed under various factors will influence inflation over the next couple of years and they each come to their own judgment. of years and they each come to their ownjudgment. and of years and they each come to their own judgment. and then their own judgment. and then the vote is taken at the end of their two—day meeting and they decide whether or not rates will stay where they are or if they should fall or rise. and it is the governor of the bank of england, andrew bailey, perhaps the most familiar of the nine members who has the casting vote if they are tired,
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so ultimately what you tend to see as the committee goes with his decision but what we saw last time in september, no change in rates the meeting, we did see the majority say now is the time to start cutting interest rates because it was felt many of the risks it had worried about when it came to inflation that might mean it does not stay down and we know how painful inflation has been, some of those were receding, but sifting through the evidence in detail every six weeks,. that will incorporate what they can into the thinking. that will give us a fresh stay on where we are but we expect the majority once again to go for a cut.- again to go for a cut. thank ou again to go for a cut. thank you very — again to go for a cut. thank you very much. _ again to go for a cut. thank you very much. we - again to go for a cut. thank you very much. we will- again to go for a cut. thank i you very much. we will come back to in the next few minutes as we get the decision at midday. as we watch the bank of england there, the live shot as we expect that decision within the next, well, just under five
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minutes or so. let�*s speak to jane king, who�*s an independent mortgage adviser. this is a bit of a nightmare for you, and i won�*t ask for a prediction but in reality the bank of england only has two ways to potentially see this go today. i ways to potentially see this go toda . ~ , ., ., ., today. i think you are right on our today. i think you are right on your correspondent _ today. i think you are right on your correspondent was - today. i think you are right on j your correspondent was right. there are literally only two ways and it will either stay the same for this month or maybe there will be a small cut. i don�*t see it going up but as you pointed out in the introduction, when the last decision was made we did not know about the results of the budget and we did not know what the outcome was going to be in america. they have lots and lots of new information and data to consider before they make a final decision today. just in terms of the budget, the rachel reeves budget we heard at the end of october. what kind of measures in it are potentially inflationary. imilli
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potentially inflationary. will be mostly — potentially inflationary. will be mostly people _ potentially inflationary. ll be mostly people spending more on energy and we also had the new pensions ruling with a lot of people saying, actually, as pensions will now be taxed we are going to spend our pensions, so may be a lot of people will spend a lot of money and we have christmas, so maybe the bank of england will sink, let�*s get all of that in the mix before we make a decision and hold the rate for the time being. it�*s very difficult to call this time. and the us, we touched on that already but we saw the election result and it was pretty decisive, well, very decisive in terms of donald trump�*s victory and we know when it comes to economics the economy doesn�*t like indecision and uncertainty, so will that have an impact, positive impact in terms of what the bank of england decides today? i think the will england decides today? i think they will definitely _ england decides today? i think they will definitely look - england decides today? i think they will definitely look at - they will definitely look at what the american central bank does with regard to interest rates and i think europe as
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well, so i don�*t think it�*s just confined to the uk so it will have a fairly big influence on what they do here, so i think lots of new information for them to die just before we have the final vote. , ., just before we have the final vote. , . . ., just before we have the final vote. jane, we will come back to ou vote. jane, we will come back to you once — vote. jane, we will come back to you once we _ vote. jane, we will come back to you once we have - vote. jane, we will come back to you once we have the - to you once we have the decision which we expect imminently. thank you very much. let�*s go back to our correspondence and we were talking about this idea that the bank of england has only got two days in which to go and we expect that decision in a minute and a half. irate we expect that decision in a minute and a half.— we expect that decision in a minute and a half. we are. to for: ive minute and a half. we are. to forgive me — minute and a half. we are. to forgive me if— minute and a half. we are. to forgive me if i _ minute and a half. we are. to forgive me if i glanced - minute and a half. we are. to forgive me if i glanced down l minute and a half. we are. to | forgive me if i glanced down at my phone. it�*s a big question when it comes to the path of interest rates. what does the bank of england make of all this. and we�*ve had the boss saying it will add over £100 million to their costs and this
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is one factor the bank has to think about and as we note the plans. the what you see as a result is it adds to and that is why the budget might add to inflation and that is part of the official forecast, so the question is what the bank of england has to say about all of that which is why we are looking closely at this, but as you say when it comes to the decision today, they will have no time to fully digester budget and the chances are we will see the rates coming down but we should find out if i am right or wrong in a matter of seconds or thereabouts because we expect the decision from the nine men and women on the committee there, and they do have, at all times, a lot of things to consider. not least as well the impact of changes in interest rates, because we know it�*s been a particularly hard time for millions of borrowers and that pain is heaped on a relatively small
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proportion of households, and for many, that has compounded the pain they have felt from higher inflation. a lot of anxiety about what we will see and i will see if we can get that that cut has come through and we are down by a quarter of 1%. exactly what the market was expecting and what the market was expecting and what analysts were saying and what we were staying a few minutes ago. the next meeting is on the 19th of december so we will hear again from the bank of england again. as it stands at the moment analysts aren�*t expecting to see anything happening at that point because it thinks that all the things we have seen happening over the past couple of months or so means that it won�*t perhaps do that. i am looking through some of the minutes of this meeting while talking to you so we can find out exactly how many people voted and what went into this
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decision. what

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