our economics correspondent andy verity reports. a new banknote with a famous writer on it.s a wash. not this year, but 2007, the last time interest rates rose. today, exactly ten years after worried northern rock savers queued to take their money out of the failing bank, we heard hints that interest rates may at last be about to rise. in order to keep inflation, or return inflation to that 2% target, in a sustainabable manner, there may need to be some adjustment of interest rates in the coming months. now, we'll take that decision based on the data but, yes, that possibility has definitely increased. after the banking crisis struck, the bank of england slashed the official interest rate to 0.5%, the lowest it had got in 300 years, an emergency measure. since then, interest rate setters have met 97 times. each time, the question, when will rates rise? but each time they've done nothing, until last august, when they decided, in the wake of the brexit vote, to cut interest rates to a 0.25%. now the city thinks they'll go back up to 0.5% by december. a rise in the interest rat

andy verity, bbc news."ashamed" by footage showing staff abusing detainees at one of their immigration detention centres. they were giving evidence to mps following an undercover investigation by the bbc‘s panorama programme at a centre near gatwick airport. 0ur social affairs correspondent, alison holt, reports. it took an undercover panorama investigation to expose the realities of life at brook house immigration removal centre, near gatwick airport. run by gas, it's plagued by drugs and self—harm. with some officers reacting to detainees with bullying, abuse, even violence. failings which today jerry petherick, who runs the company's detention services, and gas uk boss, peter neden, had to account for to mp5. i was ashamed of what i saw and i'm very sorry for what we saw. i can assure you that if we were in any way aware of any of that behaviour, we would have taken action. but former gas senior manager, nathan ward, now a priest, told the committee how he raised issues about bullying before leaving. he

thank you, andy verity in the city. with legal action for "persistently misleading" passengers about their rights. and coming up: he called himself a pioneer of sexual liberation but other accused him ofa sexual liberation but other accused him of a little in women. playboy founder hugh hefner has died aged 91. coming up in sport in the next 15 minutes on bbc news: tiger woods contemplates the end of his professional career. he says he may never play competitively again. the un says a planned visit to rakhine state in myanmar, where there's been a mass exodus of rohingya muslims due to claims of military atrocities, has been cancelled by the government. the un wants to assess exactly why close to half a million people have fled to neighbouring bangladesh injust one month. 0ur south asia correspondent sanjoy majumder is there, on the border with myanmar. he reports on the conditions refugees are now facing. the bangladesh army is in charge of the aid operation and they are trying their best to maintain a sense of order.

andy verity, bbc news.as told mps he is ashamed by revelations of abuse at an immigration detention centre run by his company. managers have been giving evidence, following undercover filming by bbc‘s panorama at the brook house immigration removal centre near gatwick airport. gas refused to reveal the level of profit the firm makes from running the centre. alison holt has the story. it took an undercover panorama investigation to expose the realities of life at brook house immigration removal centre near gatwick airport. run by gas, it is plagued by drugs and self—harm. with some officers reacting to detainees with bullying, abuse, even violence. failing switched today jerry petherick, who runs the detention services, and gas uk boss peter neden, had to account for two mps. i was ashamed at what i saw and i'm very sorry for what saw. i can assure you that if we were in any way aware of any of that behaviour, we would have taken action. but former gas senior manager nathan ward, now a priest, told the commi

all right, thank you, andy verity.crative smuggling route into the jail, the old bailey has been told. robert butler, basana kimbembi, and joshua ratner deny murdering jamal mahmoud in october last year. our home affairs correspondent daniel sandford reports from the old bailey. pentonville prison in north london, victorian and close to the road, providing on g wing what the prosecution called a lucrative contraband prosecution called a lucrative contra band route into prosecution called a lucrative contraband route into the jail, used for smuggling in knives, mobile phones and drugs with drones and makeshift ropes. jamal mahmoud and his friends had two of the cells on the fifth floor of g wing especially prized, as they had access to that route. in court today the prosecution said that robert butler, basana kimbembi, and joshua ratner murdered jamal mahmoud to make a point and to get control of the smuggling route, and that even after basana kimbembi prugh stamped jamal mahmoud with a knife pushed aside prison officer

rates may go up sooner than expected led to a sharp rise in the pound. 0ur economics correspondent andy verityter on it. the hands of time are frozen as big ben gets a wash. not this year, but 2007, the last time interest rates rose. today, exactly ten years after worried northern rock savers queued to take their money out of the failing bank, we heard hints that interest rates may at last be about to rise. in order to keep inflation, or return inflation to that 2% target, in a sustainabable manner, there may need to be some adjustment of interest rates in the coming months. now, we'll take that decision based on the data but, yes, that possibility has definitely increased. after the banking crisis struck, the bank of england slashed the official interest rate to 0.5%, the lowest it had got in 300 years, an emergency measure. since then, interest rate setters have met 97 times each time the question, when will rates rise? but each time they've done nothing, until last august, when they decided, in the wake of the brexit vote, to cut interest rates to a 0.25%. now the city thinks they'll go bac

andy verity, bbc news. — are covered in tomorrow's front pages. at 10:40 this evening in the papers — our guestsjoining me tonight are the broadcaster and campaigner henry bonsu, and kate andrews, director of news at the institute of economic affairs. a man who was given a ten month sentence for arson, but has spent more than 11 years in prison, is to be released. james ward was jailed under what's called imprisonment for public protection which meant a parole board had to be sure he wasn't a danger to the public before being released. zoe conway has been following the case, a man who was given a ten month sentence for arson, for 11 years, james ward has never known when he will get out of prison. until now. in just a few weeks' time, he'll be released to a hostel. i can't believe it. i'll believe it when he walks through the door. he'll get the biggest hug he can have. whenjames was 19, he was imprisoned for a yearfor assault. near the end of his sentence he set fire to the mattress in his cell. for that,

extraordinary, thank you very much, andy verity.es not have a budget" at the moment, and called for all parties to continue talking. let‘s go over to stormont and join our correspondent chris buckler. explain a little more about what the secretary of state is saying here, chris? stormont stands behind me, a building that is the home of the devolved government in northern ireland, there has been no wonder since january when the assembly collapsed due to a falling out between the dup and sinn fein. those parties haven‘t made up after months of negotiations. we are now looking at potentially more talks. the latest round to start things. the government here stumbles along in a limbo. civil servants are looking after things, but new decisions are being made which is beginning to have an effect on public services. that is something james brokenshire is working on. he wants direct contact between the two parties. that supposed to direct rule, essentially what westminster would do to step in to make decisions instead from northern ireland.

our economics correspondent andy verity reports. what more at these economists been saying?ack toa inflation peak, when can we get back to a normal interest rate. so we asked for their opinions and as far asked for their opinions and as far as the peak of inflation, what they're saying is that will come soon. some thing it has already come. some say it should come in october 2017. that is next month and it will peak at 3%. we asked when pay rises would beat inflation. they have a lot in the last three or four yea rs, have a lot in the last three or four years, but in the last few months there is a renewed squeeze on living standard. then the next interest rate rise that the bank of england will have to do has been anticipated for years, instead will have to do has been anticipated for yea rs, instead of will have to do has been anticipated for years, instead of going up. we went down to the lowest ever. a quarter of a percentage point. we have been on emergency rates for nine years. some say it won't be until the back half of next year that we get an interest rise and some t

but wages have slipped further behind the cost of living. 0ur economics correspondent, andy verity isthrough the figures. the theory is that when unemployment goes down this far, wages should be going up. almost every month i report lekue —— record low rates of unemployment and we are discussing the same thing, but it's not translating into higher wages. the theory is that it should. the bank of england, amongst others thinks that if unemployment gets low enough that if unemployment gets low enough that means tight labour market and it means employers pay wages to attract the staff they need and increases the bargaining power of workers. that's the theory but it doesn't translate into reality. we have an average wage rise of 2.1%, £9 per week. the average wage is £471 per week. that is no higher thanit £471 per week. that is no higher than it was in late 2005, so we have had more than a decade of lost pay growth. whereas in the past, inflation of the back of low unemployment would have been seen as a problem, because you have to deal with inflation, these days it is seen as with infla

here's our economics correspondent andy verity.ge wage buys less of this. for most of the last ten years, food prices kept on dropping, as did the price of many imported goods. but then the pound dropped in value. firms like this ca ke dropped in value. firms like this cake shop now have to spend more pounds to get the dollars or euros they need to get the supplies from abroad. and now, those cost rises are feeding through. big increase in the price of utter, which has gone up the price of utter, which has gone upi the price of utter, which has gone up i 100% over the last 12 months and a big increase in the price of sugar which has gone up by a0%. for us sugar which has gone up by a0%. for us it will definitely not be changing the ingredients or downsizing the size of portions and things like that — so we have put oui’ things like that — so we have put our prices up by about 10% over the last year, which has helped. we've obviously look at our suppliers and done a lot of work to reduce the costs they‘ re done a lot of work to redu

we spoke earlier to economics correspondent andy verity for more on the latest figures.n how it is supposed to be an inverse relationship. the more unemployment comes down, the more wages and inflation are likely to go up. but every month, i sit and tell you unemployment has hit a new low and that wages aren't taking off, they are still way below price rises. therefore, we are getting worse off, as we keep hearing. the average wage is £471; a week, £9 more than the year before but not enough to make up for the price rises. there is supposed to be a relationship between the two but we are not seeing that borne out. the bank of england thought if it hit 4.5%, wages would respond but we are at 4.3% and wages have not stood out, there is a 2.1% rise in real wages and if you look back historically, we are £20 worse off, if you are a public sector worker, than nine years ago at the start of the crisis, £13 worse off as a private sector worker and no better off than you were in late 2005. that is an extraordinary statistic, explain that a bit more, no better off than 2005. it i

here's our economics correspondent andy verity.ost of the last ten years, food prices kept on dropping, as did the price of many imported goods. but then the pound dropped in value. firms like this cake shop now have to spend more pounds to get the dollars or euros they need to get the supplies from abroad. and now, those cost rises are feeding through. big increase in the price of butter, which has gone up 100% over the last 12 months and a big increase in the price of sugar which has gone up by a0%. for us, it will definitely not mean changing the ingredients or downsizing the size of portions and things like that so we have put our prices up by about 10% over the last year, which has helped. we've obviously looked at our suppliers and done a lot of work to reduce the costs they're passing on to us. companies with rising costs face a dilemma, especially in a competitive industry like food. raise prices too much and customers might go elsewhere. raise them too little, and those higher costs will start eating into whatever profit y

consumer prices index, rose to 2.9% in august, up from 2.6% injuly. 0ur economics correspondent andy veritynth, the average wage buys less of this. for most of the last ten years, food prices kept on dropping, as did the price of many imported goods. but then the pound dropped in value. firms like this cake shop now have to spend more pounds to get the dollars or euros they need to get the supplies from abroad. and now those cost rises are feeding through. big increase in the price of butter, which has gone up 100% over the last 12 months and a big increase in the price of sugar which has gone up by a0%. for us, it will definitely not mean changing the ingredients or downsizing the size of portions and things like that so we have put our prices up by about 10% over the last year, which has helped. we've obviously looked at our suppliers and done a lot of work to reduce the costs they're passing on to us. companies with rising costs face a dilemma, especially in a competitive industry like food. raise prices too much and customers might go elsewhere. raise them too little, and those higher c

but wages have slipped further behind the cost of living. 0ur economics correspondent, andy verity ish the figures. the theory, economic theory, would suggest higher employment in the economy would mean higher wages, but that's not happening. yes, economic students, everyone will learn how it is first to be an inverse relationship. the more unemployment comes down, the more wages and inflation are likely to go up. but every month, i sit and tell you unemployment has hit a new low and that wages aren't taking off, they are still way below price rises. therefore, we are getting worse off, as we keep hearing. the average wage is £474 as we keep hearing. the average wage is £471; a week, £9 more than the year before but not enough to make up year before but not enough to make upfor year before but not enough to make up for the price rises. there is supposed to be a relationship between the two but we are not seeing that borne out. the bank —— bank of england thought it would not 4.56 said, wages would respond but we are at 4.3% and wages have not stood out, there is a to .1% rise in real

here's our economics correspondent andy verity.heir businesses and others very nearly saw their businesses going under, so they will wa nt to businesses going under, so they will want to see the full facts that have been established in that report, we assume. the leaked report was commissioned by the financial conduct authority more than three yea rs conduct authority more than three years ago at the request of the then business secretary vince cable, who found the bank had an intentional co—ordinated strategy to focus on its own commercial objectives, giving inadequate weight to the interests of business customers. we know that thousands and thousands of firms were very badly treated by the banks in the financial crisis and immediately afterwards. these things need to be properly investigated. the public need to see they have been investigated and that action has been taken so of course it should be public. the fca say they will respond to the calls for publication in due course and the bank declined to comment. andy verity, bbc n

andy verity is here to help break down the figures a bit more.eople. that's one thing. the economy generates lots ofjobs by number, but what's apparent from the figures as well it is not so great at generating better pay because the average pay went up by 2.1% excluding bonuses, that's less than most economists were expecting and substantially most economists were expecting and su bsta ntially less most economists were expecting and substantially less than inflation which even back then was 2.6% and the most recent data showed 2. .9%. if you trace it back over time, the average wage is no higher than it was in november 2005. really? yeah. no higher than that in real terms. and that's for all sorts of reasons because we had the crash? well, funnily enough people didn't get worse off ten years ago in the great recession and in the crisis caused by it, because of the emergency measures like cutting interest rates people were better off in terms of their net disposable income especially if you had a big old chunky mortgage that followed rates downwar