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reliable news to migrate wherever they may be. the a long run stopped after 14 straight increases, the bank of england decides to keep interest rates steady as inflation is cooling and higher borrowing costs are finding the case. cost of living prices also coming out, of course, on a very small says more of the turmoils, i've written this facing on. it's a nomic and political friends. and i demand a little time will visit a swedish e v battery maker trying to set up production in germany. chris called a welcome to the robot. the bank of england halted the long run of interest rate increases on thursday. one day, after a surprise slowing and britain's fast pace of price growth, the central banks monetary policy committee decided by a narrow margin to keep the q lending rate at $5.00 and

a quarter percent before the b u. e had increased rates for 14 straight times, trying to obtain galloping inflation. but there, by adding more pressure onto the you case already ailing economy. doctor's walking out to demand higher pay. u. k has been gripped by strikes since last year ramp it. inflation, which has triggered the cost of living crisis, is at its core a patriot some presents which is stopping stationary vis. yeah. well, does that try to disingenuously? decide as a pay rise, but it's not, it's a pay got, it doesn't make it dental the proceeding 15 years, compensation food prices sort, 13.6 percent and the last 12 months and reckon housing costs applying pressure on u. k. households, disposable incomes dwindling. since december 2021. the bank of england has been

raising interest rates to cub inflation. but that means high interest rates for mortgages. and that puts consumers on wednesday, u. k. prime minister research to not announce new net 0 targets. in an attempt to ease pressure on households, westminster is weakening its climate goals. industry respondents, wesley, erotic policy shifts are hampering the case ailing manufacturing sentiment. while the country has been a trailblazer for green policies, failed government action is hurting investments and some sectors including wind energy sector. hi, sorry they have one quick break and visit. be careful, the costs have risen. so if you want to realize those wind farms on time, you'll have to accept that the costs have increased somewhat. of the latest policy shift isn't expected to do much to attract more investment to the u. k. but it may very well leave businesses and consumers in a twist. our london correspondence,

big loss caught up with kind of like i said, of the center for economic and business research. and she asked him what he made of the b o. each decision to pause raising interest rates. so thing after yesterday's inflation data, we knew it was going to be a very close decision. and indeed, 5 members voted for holding interest rates for voted for the hike. so very close call indeed, and the, what the bank of england really is looking at is on the one hand and the even market and see, we know that unemployment has risen. so in the bank of england's books that's, that's a positive because some, so that gives emerging. but the good news yesterday from yesterday really is that inflation in the service of sector quote, inflation, which hasn't shown any signs of moving in the right direction previously. that has to down in the data yesterday, and that has been enough, i think, to tip the scales to what's holding rates for now. so do you think this is the end of, of actually the right height that we've been seeing recently? i mean, it's still quite a high right us. it is a very high rate, it's a,

i mean they left the door open for another re type potentially before the end of the year. this was our kind of main predicts. and before the decision that was announced today, i think the bank of england is now going to look at the data, see if inflation is going to prove perhaps more to keep and anticipated, in which case we might see another rate hikes. but i think, i think the odds are on now that this might actually be the lowest grade type that we're going to see. and the bank is now going to wait for that amount. if you type thing that we see, you know, with the past few months to pass through to the economy. if we're looking at all the policy decisions that recently made headlines, one is about 3 and policies. so the prime industry, she's soon a has an effect. um was a dollar and some of the climate policy and visions and he has own quite a lot of criticism even from from business for example, from the british chamber of commerce. the mentioning that other countries are pouring billions and called the new trial economy. and that they fear that britain

this lagging behind, so it's not exactly what he had helpful. so yeah, i think it goes to the core of really some very complex decisions which phase a lot of developed economies really is kind of, how are we going to transform our economies? intended 0 economies, how much is it going to cost and who's going to pay at the front of these costs? and um, yesterday i think there were a lot of things to impact. i think there were some positives, for example, the increase in the subsidies for heat pumps to 7500 pounds. so that should help the uptake of a uh, the use of heat pumps. on the other hand, to remove the monday for landlords having to invest into uh, you know, making houses, making homes more energy efficient. so that could really mean that the private rent of sector was back behind and that the company's ation of the housing stock. the key policy announced with another one was of course the delay of the band of federal cars from pushing that back from 2030 to 2055. but again, here i think um, if it's a complex fields, i think our own studies actually showed that there was quite

a huge cost to society to consume as of, of having the band that early. you also have to see that the you also has a band in place that is only coming into effect in 2035. so the u. k is now in line with that. on the other hand, of course, as, as you rightly mentioned, businesses crave certainty. they want to know, what are the policy guidelines, what are the frameworks that we have to operate in? and then changing um, you know, changing these guidelines from minus one day to the next one week to the next is creating a lot of uncertainty, which we have plenty of them to you. okay, already over the past few years. and this is a, there's potentially a negative full investment here. yes. just a year ago. and this trusts was a british prime minister for less than 2 months. and she really shocked the economic establishment. she's now actually come out um, fighting back and said that the establishment was, was again, so what, what do you make of that? yeah, well i think they're kind of different people kind of have different interpretations of um, what happens uh, i think certainly the diagnosis of kind of the is, you know,

what's justified. we have a low growth economy. we're stuck a bit in a low growth trap and you know, something should be done about that. and so you can argue about kind of cutting taxes, lowering spending to, to, to, to push kind of the economy into a more business monthly growth oriented way. but i think it has to be set, that's the way in which implemented her decisions. her how policies there was really not taking into account the economic environment that we were in. it was already one markets were stretched, the currency markets were point one to time because we were in this rate hike environment. and then you know, the current to markets and one markets just didn't take kindly to the fact that there was no real costing. and no real plan of how we were going to pay for these policies. and um, and you know, they, they kind of penalized okay. economy for that. but then blaming the u. k. planing the comic establishment. so something like that i think is, goes a little bit too far. it's a little bit of an easy excuse for and on the dental file, but, you know, establish mental blah, blah, whoever that might be. i don't really think it's

a good excuse for that. that was kind ourselves economist at the center for economic and business research. talking to the w, corresponded big boss, and you can watch the entire interview on the dw news youtube channel. now to some of the other global business stories making news. the us federal reserve left interest rates on changed on wednesday as late as meeting, but said she had her own paul hinted at another rate hikes before the end of the year. investors hoping for a rate cut to may have to wait longer as rising old prizes add to ongoing inflationary pressures. germany's exports to countries outside the european union fell for the 2nd month in a row and august. demand from the united states and china declined as high interest rates, and the energy prices continue to weigh on the global economy. exports to non you countries account for around half of all of germany's ex, dropping as an ex tonics giant toshiba will leave the stock market after 74 years. a group of investors planned to take the company private after buying

a majority stake, toshiba shares, and started trading on the tokyo stock exchange in may 1949 as dependent merch from birth. more to spencer's include home electronics and nuclear power stations. many countries trying to push electric mobility are turning their attention toward sweden, vast resources of magnesium, cobalt or nickel, has made it a hub for e v battery production, which is giving swedish battery maker north fold a real like up, mid rise and global demand. the company is expanding to norway and germany, a reporter for some serious visited their plant in suite. one of north faults, few got factories, is located in the sub sweetest city of best to the us. here car batteries i produced on a large scale for brands like bmw, w, volkswagen and volvo the company is expanding mass of fluid because demand this enormous am on the,

on the high end. no thoughts chief environmental officer explains how that particular efficient battery cells work. and you put them together next to each other, so as you can see it, and the 1st we've been modules, which is a smaller, um, uh uh, components where we just put the sales next to each other. and then they put them on in the system and we add to the electronics and the, the system that controls the batteries. and besides to what temperature they need for optimal charging or how they should be charged and discharged at different speeds. further up north northwell operates another giga factory of the largest $200.00 football fields, employing up to $4000.00 workers for the plant annual production of batteries for $1000000.00 electric vehicles, a different battery sales manufacturing for each automaker. the onboard computer and the car controls how the batteries are discharged evenly. it also manages the

charging process to ensure that the car gets to over 50 percent in half an hour. creative thinking and teamwork are important to the company in the full slab newest of home. they're all 1000 employees. one of them is project manager amount of use. so again, sky, i think it's super exciting on next week. i think of best 3. first of all, that's a very complex product with different people that have to collaborate to really make this happen at scale. it's a engineer from all different disciplines. it's of course, business backgrounds, it's production people that you know, everyone needs to come together to really deliver to make this common mission come to life. from here, they are planning to new giga factories in no way in germany. the swedish company intends to invest several 1000000000 euros for this expansion. we design and build the battery itself, but we also build the battery factories and this is what we are here for. we are here to enable this translation with sustainable battery production on getting

a scale at it in europe. so we are homegrown, and we want to keep the momentum and we want to be in the, from please, and show that you can do this in a sustainable way. all locations are currently being expanded because of increasing demand. and in germany, it will soon look the same northwell to they'll have a key got factory operational by the end of 2025, and pulling 3000 workers for the investment of 4 and a half 1000000000 euros. that is our show. thanks for watching service successful, the books make sure it does the searching of its residence, the

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