for england in— experienced, done a greatjob for england in the past, but the fact is they've _ englandey've gone and we have to move on. we cannot— they've gone and we have to move on. we cannot do— they've gone and we have to move on. we cannot do ending about that. and then i've _ we cannot do ending about that. and then i've got en route my staff and picked _ then i've got en route my staff and picked 24 — then i've got en route my staff and picked 24 really committed, very fit players _ picked 24 really committed, very fit players who want to play for england, and i'm very happy with that when— england, and i'm very happy with that when moving forward to. | england, and i'm very happy with that when moving forward to. i made my england — that when moving forward to. i made my england debut. _ that when moving forward to. i made my england debut. i _ that when moving forward to. i made my england debut. i was _ that when moving forward to. i made my england debut. i was chatting - my england debut. i was chatting with someone _ my england debut. i was chatting with someone in— my en

.— bank of england.england. yes, absolutely. and that is because _ bank of england. yes, absolutely. and that is because the _ bank of england. yes, absolutely. and that is because the plan - bank of england. yes, absolutely. | and that is because the plan looks shambolic. the plan is 45 billion in tax cuts, and this giants borrowing, so the tax cuts, let's be clear, these are going to benefit only the 0.1% top of the population. so that 0.i% top of the population. so that some 50,000 people who will get two thirds of the benefits of these tax cuts. the reason the market is reacting this way, let's be clear, the market is freaking out about the uk. some people, one investment bank was saying that investors look at the uk right now as a doomsday cult. others have said that the uk economy looks like in emerging markets, not to because it is in emerging markets, obviously it has emerged, but because it is very hard, it is going to be very hard for policymakers to regain credibility and trust in the economy.

however, it's a threat and when england play, you want to know that england are fielding their best possibleed yorkshire after allegations by former player azeem rafiq continues. the ecb braced for the imminent publication of a report into discrimination across the game. that will not be easy reading, but we have got to hold a mirror up to ourselves. it's going to be a difficult few months, but a moment that we can start the reset. my vision is very clear that cricket will become the uk's most inclusive sport, and it needs to do that rapidly, and it needs to win back trust. thompson hopes his experience running surrey, where this programme helped engage youngsters in diverse communities across south london, will help. but with english cricket divided like rarely before, leading and reuniting the game will be no easy task. dan roan, bbc news. so, the battle is on between glasgow and liverpool — to host next year's eurovision song contest. the shortlist to stage the event — which will bring thousands of visitors to the winning city, as well as a global audience of tens of millions — was whittl

technically the bank of england said there was a - of england said there was a recession, i think it'sit's only shallow and we can rebound.— and we can rebound. so you are acknowledging there _ and we can rebound. so you are acknowledging there is - and we can rebound. so you are acknowledging there is good - and we can rebound. so you are acknowledging there is good to | and we can rebound. so you are i acknowledging there is good to be and we can rebound. so you are - acknowledging there is good to be a recession? no, i'm not acknowledging. you said shallow. i acknowledging. you said shallow. i said technically there is very little negative growth and i think these measures it can help us drive. i don't get a bleak picture. if you look at unemployment is at a 50 year low for appreciate that. if you look at some of the things were doing in our nd and science in that's very positive. there is a great story about the uk. i'm confident we've got the right policies to steer us through that. a very confident that we could actually grow the economy and more wait—and—see. we could actually g

of the bank of england effectively _ money. of the bank of england effectively taking _ money.- money. of the bank of england effectively taking money out i money. of the bank of england effectively taking money out of| money. of the bank of england - effectively taking money out of our pockets with the interest rate rise per than potentially getting more money into her pockets tomorrow with these tax cuts that we are going to hear from the chancellor?- these tax cuts that we are going to hear from the chancellor? when you talk to the economists _ hear from the chancellor? when you talk to the economists earlier - hear from the chancellor? when you talk to the economists earlier on - hear from the chancellor? when you talk to the economists earlier on on | talk to the economists earlier on on that very point. find talk to the economists earlier on on that very point-— that very point. and people being su ueezed that very point. and people being squeezed through _ that very point. and people being squeezed through the _ that very point. and people being squeezed through the bank

i previously won the tournament with england in 2014.— england in 2014._ england in 2014. i think you got the young guns in the _ england in 2014. i think you got the young guns in the order _ england in 2014. i think you got the i young guns in the order team-mates, young guns in the order team—mates, looking _ young guns in the order team—mates, looking back— young guns in the order team—mates, looking back at 2014 and as a young lui'i, looking back at 2014 and as a young gun. and _ looking back at 2014 and as a young gun. and we — looking back at 2014 and as a young gun, and we were a bit free spirits and we were — gun, and we were a bit free spirits and we were just there loving it, happy— and we were just there loving it, happy to— and we were just there loving it, happy to be there, not so much like, selection _ happy to be there, not so much like, selection and stuff like that, which is in the _ selection and stuff like that, which is in the sport where i do a lot more — is in the sport where i do a lot more office and strategy and different game p

in an emergency statement, the bank of england said...market to continue or worsen, there would be a material risk to uk financial stability." it said it was seeking to "restore market functioning and reduce any risks from contagion to credit conditions for uk households and businesses". this explains the intervention. since the mini budget, the effective cost of borrowing long term for the government has shot up, and was spiralling above 5% — a 20—year high. these were rises in two days that would normally take years, increasing the cost of borrowing for government and everybody. the bank of england intervened, buying up those debts in unlimited quantities, which brought down those interest rates, but they remain high. high interest rates mean that the value of the government debt — effectively an iou called a bond — decreases. for some long—term loans, their worth effectively halved, with severe consequences for one sector in particular. this was a dramatic surprise intervention by the bank of england to save a trillion—pounds corner of

the bank of england is in the market. it's pledging unlimited purchase and it's going to do it and kick it there it's going to create new reserves to do it. i thing the argument there gets a bit nuanced. what you've got is 100 basis points off the 30 but that takes us back a few days to where we were. a huge climb we see in long and yields, the consternation for the pension fund industry. i want to show you a couple of charts. the british pound has not reacted very much today. there is still an expectation the bank will have to step in and raise rates. the former mpc member thinks you see a monetary response policy here north of 100 basis points and ultimately at 107 maybe the market signal that. i want to show you this is the other area, certainly an area focused with a lot more attention over the last few days. swaps of dropped really sharply. we've come up very sharply. now trading at 5.4, it's a two-year swap. a lot of mortgages priced off bread you can see the same thing with two-year swap and the five-year swap. you

he's done an unbelievable job with england. it's absolutely - job with england.aking it through group games. this group of players and manager have got two semifinals and manager have got two semifinals and finals and they are punching well above their weight and doing really well. we should back them going into the world cup in qatar in a few weeks�* time. going into the world cup in qatar in a few weeks' time.— a few weeks' time. worcester warriors could _ a few weeks' time. worcester warriors could face _ a few weeks' time. worcesterj warriors could face relegation a few weeks' time. worcester - warriors could face relegation from the top—flight of english rugby union after being placed into administration yesterday. there are fears other clubs could follow. the financially stricken side had to provide proof of a credible plan for the future by 5p yesterday evening but failed to do so. the men�*s team will now be banned from the premiership competition and the women�*s side the premier 15s. look, it�*s obviously very disappointing. i�*d be lying if i said i wa

and the need of the bank of england.t they can respond to. >> i'm not sure they actually need to respond to anything here. they are trying to stabilize the market, but i grew up in an environment where we were told that markets were efficient. i understand it is only temporary, but i'm not sure that the boe is doing the right thing. people are now talking about whether or not this pushes us off another rate decision. let's go back and think about what happened last week when the boe made their rate decision. there wasn't even consensus within the governors. you had five of them for 50. but you actually had three for 75. and then one person at 25. even within the bank of england, there is not a lot of consensus, and i'm curious about whether or not the lack of consensus also is part of the issue. why the statement is temporary. it is really not a lot of support. >> you said you don't know if this is necessary. we heard from a host of policymakers that they do not see disorderly markets. all agility, yes. it disorderly, no

england are cominu u- lankan team bus in 2009. england are coming up so — lankan team bus in 2009.ankan team bus in 2009. england are coming up so long has _ lankan team bus in 2009. england are coming up so long has been _ lankan team bus in 2009. england are coming up so long has been so - lankan team bus in 2009. england are coming up so long has been so sad, i l coming up so long has been so sad, i guess it has been depressing for a lot of people. i think the fact we are here now and hopefully the future we will come many times more, thatis future we will come many times more, that is a great sign for me to be part of that is amazing. that that is a great sign for me to be part of that is amazing.- that is a great sign for me to be part of that is amazing. that is at a 3m. part of that is amazing. that is at a 3pm- the _ part of that is amazing. that is at a 3pm- the t20 _ part of that is amazing. that is at a 3pm. the t20 world _ part of that is amazing. that is at a 3pm. the t20 world cup - part of that is amazing. that is at a 3pm. the t20 world cup in - a 3pm. the t20 world

bank of england and thisjust adds to it, i think— england and thisjust adds to it, i think today. the rise that they've already announced been hinting at a big rise in november. it is pretty clear that interest rates are going to keep going up but we have historically had low interest rates in this country since the financial crisis of 2008 for very long time, people of gotten used to the low interest rates and cheap money. used to the low interest rates and cheap money-— used to the low interest rates and chea mone . , ., ., ., cheap money. they have and it would seem that we — cheap money. they have and it would seem that we may _ cheap money. they have and it would seem that we may not _ cheap money. they have and it would seem that we may not have - cheap money. they have and it would seem that we may not have that - cheap money. they have and it would seem that we may not have that for. seem that we may not have that for very long time we may have to get used to these interest rates and for people with mortgages, they'll be very worried watching very carefully the analysis th

do chain has to flee to england. you get some dramatic stories like that. >> when the war is over and there is a new united states, how do these religious leaders on both sides of the atlantic trying to pick up the pieces of this ruined imperial protestantism? a really important piece of that story is the british side, i think. we have to remember that the british lost something, and they had to respond to that. so a piece of that was their choice over the course of the war to frame the colonists as treasonous and an religious. and to turn their attention to the people they saw as victims of the war. so for instance, people in the caribbean where there were blockades and they weren't getting enough food. they have to actively work to reshape that imperial protestantism, and they do. on the american side, it's a huge challenge, particularly for the former members of the church of england. and it takes years to fit that back together. this is also the moment when john wesley, who was the leader of the methodist piece o

the bank of england takes emergency action to stabilize british financial markets. steven beardsley has the details on t w business. just after the break. i'm pop up on the list for me on the team here in berlin. thanks for watching. take care and we'll see again at the top next. ah. these places in europe for smashing the records, stepped into a bold adventure. it's the treasure map for modern globetrotters. discover some of you up to record breaking sites on google maps, youtube and now also in book form. sometimes a seed is all you need to allowed big ideas to grow. we're bringing environmental conservation to life with learning pass like global ideas. we will show you how climate change and environmental conservation is taking shape around the world and how we can all make a difference. knowledge grows through sharing and download it now. feel free ah, the bank of england steps in as britain nears financial crisis, markets and the pot and the pound respond positively. but more pain could be in store. also on our show will hit the rails and hear from someone who

do chain has to flee to england. you get some dramatic stories like that. >> when the war is over and there is a new united states, how do these religious leaders on both sides of the atlantic trying to pick up the pieces of this ruined imperial protestantism? a really important piece of that story is the british side, i think. we have to remember that the british lost something, and they had to respond to that. so a piece of that was their choice over the course of the war to frame the colonists as treasonous and an religious. and to turn their attention to the people they saw as victims of the war. so for instance, people in the caribbean where there were blockades and they weren't getting enough food. they have to actively work to reshape that imperial protestantism, and they do. on the american side, it's a huge challenge, particularly for the former members of the church of england. and it takes years to fit that back together. this is also the moment when john wesley, who was the leader of the methodist piece o

they are -auttin england, the bank of england...england... true are putting out your fire, england, the bank of england... tt31: are putting out your fire, to england, the bank of england... t"t31: are putting out your fire, to be are putting out yourfire, to be fair. are putting out your fire, to be fair. a ~ are putting out your fire, to be fair. 1, ,, :, ., ., fair. the bank of england run an independent _ fair. the bank of england run an independent monetary - fair. the bank of england run an independent monetary policy. . fair. the bank of england run an i independent monetary policy. and a view from listeners? _ independent monetary policy. and a view from listeners? i _ independent monetary policy. and a view from listeners? i am _ independent monetary policy. and a view from listeners? i am a - independent monetary policy. and a view from listeners? i am a bit i view from listeners? i am a bit scared, view from listeners? i am a bit scared. if— view from listeners? i am a bit scared. if i'm _ view from listeners? i am a bit

the bank of england like many countries in the world, enjoys a certain level of independence.can set the interest rates. with this growth-focused goal of liz truss, is it fundamentally at odds with the inflation-fighting mission of the bank of england? guest: i would agree that there is a bit of a schizophrenic existence right now between the government and the bank of england. the bank of england is indeed independent, although there have been some hints during their campaigns for deciding the new tory leader, that liz truss was questioning the independence of the central bank, or at least some aspects of it. now, that independence is very important, and of course, the remake that is given to them by the government, by the chancellor, is to keep inflation at 2% target if they can. now, of course, the target has been hugely exceeded in reality. we have 10% inflation or thereabouts. but it is not dissimilar to what is happening in the u.s. and in quite a lot of other countries, including the continental europe overall. so the ecb is also having this particular problem. in fact,

what, what has, what has this intervention by the bank of england essentially prevented? well, it actually looks like it may well presented, the insolvency of various pension funds. so this in by the bank was kind of crucial, but this is incredible. instability brought home is a huge self inflicted wound brought home by a budget imposed on friday that was received like a completely balloon on top of all the brakes that impact things. so basically what it did was it caused markets to melt down the exchange rate collapsed with things the body collapsed. but of course, now what all of this leads to is essentially going to see a housing market collapsed because interest rates are going to rise. people can get mortgages, and the price of those mortgages is going up. so this looks like the case in great tom, all headed into recession. this looks like a incompetent economic policy. 5 prime minister who's been in place 3 weeks. the if you're already answering my 2nd question i was going to ask, is the worst over, but it sounds like what was done by the bank of england only solves

perhaps the odd three across the south—east of england.nd eastern england, but wet towards the north—west. and this whole system will swing its way through during the course of the day, brighter but with some showers through the afternoon for scotland and northern ireland. temperatures dipping behind the weather system yet again, and then it's a wet end to the day across eastern england. that whole frontal system, though, does push away quite quickly, and in time for the weekend, we're left with low pressure, yes, but i think more in the way of sunny intervals again. some showers, justthe chance of some more persistent rain running into the south of the uk later on on saturday. so, in comparison to friday, well, yes, it's still quite breezy on saturday, but we shouldn't see so much cloud around and outbreaks of rain will come and go rather than being persistent, aside from potentially this area pushing into southern england later on in the day on saturday. and that could linger on overnight saturday into the early part of sunday, too, but

england have struggled in reply.d with the scoring that throughout the programme. now, we have already heard about the proposed changes to domestic cricket, but plans for major reforms to rugby league have been announced this afternoon. amongst them, the scrapping of relegation for so—called category a super league clubs, a super league clubs, joined up calendar with international matches and a push for a strategy to boost the women's and girls' games. the proposals made by the sports management company img follow what they are calling the sport's most comprehensive consultation ever. there is a party —— part of the country where there are —— this is a very big sport and another part of the country where it does not make the country where it does not make the headlines and that is the narrative we want to change as part of this but it is in a position now where we have got that very strong fan base in that area, so there is certainly something to build on. i would not describe it as michael break but it is certainly

other parts of northern england, whereas the eastern side of england will stay mainly dry with furthersome of the heavier rain. later on, toward south—west england and south wales, some of the rain will start to pep up once again as it moves its way further north. another area, another look at this area of low pressure going into monday, notice the position has not changed and again we will continue to see areas of rain or showers feeding through early on across parts of scotland, for example. heavy and possibly thundery showers will pop up elsewhere. quite windy towards the south—west. later on monday we could see heavy bursts of rain moving back in. notice how temperatures are above average for the time of year. still hitting 22 celsius, for example, in glasgow. much of the rest of the week ahead is looking distinctly unsettled. showery and wet at times, windy occasionally, and it will turn just a little bit cooler. this is bbc news, the headlines at 8pm... nasa calls off its second attempt to launch its most powerful rocket, artemis i, to the moon — five days after technical problem

as the bank of england came to a rescue.n attempt to grow the economy with the biggest tax cuts in half a century, led to havoc on currency market, more importantly on debt markets, and then within days, led to a tidal wave of interest rate rises reaching every corner of the economy, from mortgages to high street retailers and today fears over pension funds n an emergency statement the bank of england this explains the intervention, since the mini budget, the effect tiff cost of borrowing long—term for the government has shot up and was spiralling above 5% a 20 year high, these with were rises in two days that would normally take year, increasing the cost of borrowing for the government and everybody. the bank of england intervened today, buying up those debts in unlimited quantities which brought down those interest rates, but they remain high. this was a dramatic sur surprise intervention by the bank of england, to save a trillion pound corner of the pensions industry, these funds buy up government debts because they are s

i— of england says? i don't think it's inevitable. i think— of england says? think it's inevitable. i think there is a risk i inevitable. i think there is a risk inevitable. i think there is a risk in the prime minister said that there was a risk of recession and it would've been worse if we just carried on taxing people and putting burdens on ordinary people. that would've been a disaster, and that is what we have campaigned against and that is what we are trying to reverse. , ., , , ., ., reverse. give a sense of our reviewer. — reverse. give a sense of our reviewer, our _ reverse. give a sense of our reviewer, our listener, - reverse. give a sense of our| reviewer, our listener, when reverse. give a sense of our- reviewer, our listener, when will they know whether you fix the neck succeeded or failed? they know whether you fix the neck succeeded orfailed? the mission you've set out today is accomplished?- you've set out today is accomplished? you've set out today is accom - lished? , ., you've set out today is accomlished? , ., ., accomplished? there is nev

east this is wes. debit head with the w business beyond ah, the bank of england steps in as britain nears financial crisis, markets and the pump and the pound respond positively. but more pain could be in store. also on our show will hit the rails and hear from someone who visited europe's worst border crossings for internet train journeys and believes the you can do more to improve them. walk into the show. i'm sitting here in berlin, it's good to have you with us. the bank of england move to stabilize turbulent british markets wednesday, vowing to buy long dated government bonds and a bid to bring down borrowing costs. the announcement coming as several u. k. pension funds were forced to hurriedly sell off bonds to avoid a liquidity crunch. rising borrowing cost, i've also had mortgages and other forms of credit market turmoil, a direct result of new government plans to cut taxes and increased borrowing. david blanche flowers, a professor at dartmouth college and a former member of the bank of england monetary policy committee. david, welcome to the show, what, what has, what has this i

the bank of england takes emergency action to stabilize british financial markets. steven beardsley has the details on dw business after the break . i'm part of funny as he can at the top of the next era. take care with someone else to the tv highlights the selected for you. you every week in your inbox, subscribe. now. how did she become at all for hitler's favorite director? and how did he become a forgotten filled pioneer leading? he finished and arnold funds between hitler and hollywood. in 1932, they set out into the icy wilderness of greenland to create a life threatening a film project that became a major milestone in their lives. love seduction, and to power ice cold passion starts october 8th on d, w ah, the bank of england steps in as britain nears financial crisis, markets and the pot and the pound respond positively. but more pain could be in store also on our show will hit the rails and hear from someone who visited europe's worst border crossings for international train journeys. and believe the e, you can do more to improve them. hello, welcome to the

back to 17th century england. let me go now. well, yeah, i was going to make you look at 1776 for longer, but. well, we'll move so rarely we get to engage with that. richard the immigrant you see here on the left was the patriarch of the lee family. he was born in england in 1679. guess what? he was a pretty loyal supporter of charles the first. but he immigrated to virginia during the english civil wars along a whole throng of english royalists and others who saw no economic, political or social future for themselves in a king, england or in an england that was turning their backs on the monarchy. and specifically charles the first. but i am getting a little ahead of myself so we're going to take it all the way back to the beginning when 104 men and boys arrived in, sent a kombucha to establish the first permanent english colony in place that they named. thank you, jamestown. very good name. after, of course, james, the first of bible fame. much virginia's a joke. nobody got it much of virginia's foundational history is because

what we have seen today as the bank of england do - today as the bank of england do theirjob, they maden in the market and that is their division had to make decision but they've done so very closely with the chancellor. but our job very closely with the chancellor. but ourjob is to deliver the growth plan and you with the underlying issues of the economy by the first part of that was to give everybody, households and businesses, confidence and certainty at the end of this week about energy crisis. that is the big overhang and that's what we needed to address and that is why we had to come up with that growth plan. from there, we had to move with reform and really try to tackle some of these long—standing issues, whether it is access to child care, making sure that that bypass gets built so that you can go to work in the british businesses can be as productive as possible. do you not acknowledge any culpability, responsibility for what is happening right now and market said at almost unprecedented run on pension funds in this country?— in this country? what is unprecedented - in this co

even with really strong voices in england who went to have the entire empire and the church of englandobody is willing to disrupt the active union so i feel that's where the establishment works to the benefit of falling the empire together. >> let's talk about the government's role how that was tied to government and policy what more does the government do on either side to promote this system that you talk about? >> the government sets the rules what is legitimate so governments across the board they don't get involved in theological fights between different branches of the presbyterian church. they will not weigh in on that there are serious disputes and different theological factions. on the other hand if you get a group really on the outside a small group who are burning bibles in the town square they are not afforded religious liberty that individuals committing crimes against the state that supports the protestant religion. so religious leaders don't need to go after them. the state will go after them. then there are privileges that go along with it. the naturalization act for th

the queen was here at wembley for england's finest moment. 56 years later england face germany wearingharry maguire on, sterling was on the rise. but when under fire, harry maguire swung a clumsy leg in the box, the referee was left with no choice.— was left with no choice. germany enal . was left with no choice. germany penalty- cool— was left with no choice. germany penalty- cool as _ was left with no choice. germany penalty. cool as you _ was left with no choice. germany penalty. cool as you like. - was left with no choice. germany penalty. cool as you like. it - was left with no choice. germany penalty. cool as you like. it was l penalty. cool as you like. it was to net penalty. cool as you like. it was to get worse- — penalty. cool as you like. it was to get worse- the _ penalty. cool as you like. it was to get worse. the unmarked - penalty. cool as you like. it was to get worse. the unmarked seized l penalty. cool as you like. it was to l get worse. the unmarked seized the moment to seize germany's double late. this wasn't how england wanted to go out. their first goal from almos

we have seen the bank of england having to intercede - of england having to intercede because of thegovernment brought in on friday. this doesn't normally happen. we are workin: this doesn't normally happen. we are working very. — this doesn't normally happen. we are working very. very — this doesn't normally happen. we are working very, very closely _ this doesn't normally happen. we are working very, very closely with - this doesn't normally happen. we are working very, very closely with the i working very, very closely with the bank of england. the bank of england won an independent monetary policy and set interest rates. we have seen difficult markets around the world because of the very difficult international situation we face. what our government has done is we have taken decisive action first of all on energy bills, which is the biggest part of the package that we have put forward and i think that was the right thing to do. it is the other decisive _ was the right thing to do. it is the other decisive action _ was the right thing to do. it is the other decisive action people

head of foreian england. thank you very much. head of foreign exchange _ england.tegies - england. thank you very much. head of foreign exchange strategies at - of foreign exchange strategies at citigroup. thank you for your time. labour say the government has �*spooked the markets' with a �*reckless gamble' on tax cuts paid for by increased borrowing. in the last hour, the shadow chancellor rachel reeves has been setting out labour's economic vision at the party's conference in liverpool. she said a labour government would bring back the 45p top rate of income tax and use the funds to boost nhs staffing numbers. our political correspondent, ione wells, reports from liverpool. who would want to be the chancellor right now? she does. thank you! things are looking choppy. the pound reached a record low against the dollar, inflation is high, interest rates are up, and energy prices soaring. rachel reeves claims the chancellor has fanned the flames of the fall in the pound by suggesting more tax cuts are coming. on friday the chancellor had an opportunity to set out a

i've never seen england before. it's one of those _ never seen england before.ver seen england before. it's one of those on my bucket list. what perfect place to come to milan and watch _ perfect place to come to milan and watch the — perfect place to come to milan and watch the boys play. i�*m perfect place to come to milan and watch the boys play.— perfect place to come to milan and watch the boys play. i'm hoping we can aet watch the boys play. i'm hoping we can get the — watch the boys play. i'm hoping we can get the win _ watch the boys play. i'm hoping we can get the win today, _ watch the boys play. i'm hoping we can get the win today, have - watch the boys play. i'm hoping we can get the win today, have a - watch the boys play. i'm hoping we can get the win today, have a go i can get the win today, have a go against — can get the win today, have a go against germany— can get the win today, have a go against germany and _ can get the win today, have a go against germany and hopefully. can get the win today, have a go. against germany and hopefully go into

the bank of england robabl question. the bank of england probably started _ question.y started too _ question. the bank of england probably started too late - question. the bank of england probably started too late in . question. the bank of england - probably started too late in raising interest rates. they left the first rise until december and were quite slow, and have been quite slow in raising them since then. so we are not actually getting much downward pressure on inflation at the moment from interest rate changes. fin pressure on inflation at the moment from interest rate changes.- from interest rate changes. on the screens of this _ from interest rate changes. on the screens of this broker _ from interest rate changes. on the screens of this broker in _ from interest rate changes. on the screens of this broker in st - from interest rate changes. on the | screens of this broker in st albans, the impact of all of this already hitting the mortgage markets. fine hitting the mortgage markets. one lender's hitting the mortgage markets. que: lender's service hitting th

i have sympathy for the bank of england. _ in debt? i have sympathy for the bank of england.ave sympathy for the bank of england. they are - in debt? i have sympathy for thei bank of england. they are facing in debt? i have sympathy for the l bank of england. they are facing a high rate of inflation, which is not just a british phenomenon but a global phenomenon. and now a fiscal splashdown by this government, which means that in their mind, the rate of interest they must set must be around 6%, but they know that if they do that they will just around 6%, but they know that if they do that they willjust break they do that they willjust break the housing market, and it will create untold pain in the hearts and minds of britons out there who have indebted themselves massively over the last decade or so, so they are damned if they do, damned if they don't. this mini budget has been a disasterfor don't. this mini budget has been a disaster for the don't. this mini budget has been a disasterfor the bank of don't. this mini budget has been a disaster for the bank of england. they bo

still nothing from the bank of england. alix: i am struggling to understand, particularly after hitting 1.03 overnight. in the u.s. things are confusing as well. first of all you have higher yields. in some ways it is no surprise because we have such a downdraft last week so the debt may be bouncing. the other side is you had a lot of volume coming into the market on friday, which could have helped to stop. it is hard to see sustained upside with yields pushing so much higher and you have the stronger dollar. two of these together, you have to wonder how much you have to rewrite 2023 earnings and how much of recessin on what the bond market and the dollar are telling you guys. guy: i do feel the action is certainly in london. the market route which we begin friday after the announcement of the new fiscal measures, those measures are beginning to unnerve conservative lawmakers. some are saying the bank of england may need to step in and rescue the country from what is happening. is there going to do that? what are the option

. _ northern ireland and northern england, pushing eastwards across scotland. _ england, pushing eastwards, reaching the northern isles later in the day. showers will fade through _ isles later in the day. showers will fade through the _ isles later in the day. showers will fade through the morning, - isles later in the day. showers will fade through the morning, heavy i fade through the morning, heavy showers is across south—west england for the afternoon, showers almost anywhere, heavy and thundery where we see them but well scattered, east anglia, south—east england staying mainly dry. breezy, particularly on the irish sea coasts, but a warm day for most of us, especially across east anglia and south—east england where we see the best of the sunshine, 2a, maybe 26 celsius and the low to mid 20 celsius for many of us. sunday night, heavy rain pushes up from the south, likely to affect a large swathe of the uk, heaviest across england and wales, not reaching the finals of scotland until later in the night. again, a warm, muggy night, temperatures not much lower than 1a or 15 celsius. we s

they were looking to the bank of england for some decisive action, but we'll have to wait until their next meeting on november 3rd. the government however says it will bring for the day a plan to publish it. media and fiscal policy from next year to november, 23rd, but that's still 9 trading weeks away. what's needed right now is confidence. instability that the market's need to see a macro economic plan that they believe it or the opposition party wasted no time. giving its burdick labors shadow chancellor. rachel reeves accused the government of gambling and said the british taxpayer will pay the price. sterling is down. that means higher prices at the costs of imports rise. the cost of government borrowing is up. that means more taxpayers, money will go into paying the interest on our government debt. and in turn, that means the cost of boring working people will now go up to. so how will a falling pound affect people? all the u. k. imports more than half of its food, so the cost of everything from apples to coffee will go up. the rise will be especially notable in goods traded in

these are set by the bank of england which is independent of the government.ar it raise the cost of borrowing. now it is saying it will not hesitate to lift it further. here is a former deputy of the bank of england on his concerns. >> i would be concerned. the bank and the government have indicated that they are going to take their next decision in november and publish forecasts and so on at that point. and the worry is they may need to take action sooner. >> next, let's hear from andy again on how much interest rates are likely to go up by and what that would mean. if you look at what's happened to interest rate recently, currently 2.25%, after going up have a percentage point last week. on the markets now they are saying, as we heard, they will not be able to wait until november. the markets think an emergency interest rate will be necessary. by november they will be up to 4%, double what they are now. then by december, 5%. later on, 6% by next june. these are really sharp rises in interest rates. implications for people with variable-rate mortgages, people

let me start with this intervention by the bank of england.e why, in your view, that is so significant. well, i think your view, that is so significant. well, ithink if your view, that is so significant. well, i think if you are sat looking at some of the figures, the currency market and the borrowing numbers, you might feel a sense of relief that things seem to have stabilised. but, actually, the fact of this intervention is probably the biggest piece of information. normally we would only get an interracial like this from the bank of and when some terrible event has afflicted the economy, whether it is the pandemic that we had this type of intervention for, the financial crisis, we had this type of intervention 1a years ago. this appears to stem from something that started as government policy on friday. government ministers have been out today saying it has nothing to do with that, it is all about global factors. to do with that, it is all about globalfactors. but to do with that, it is all about global factors. but the explanation for why

perhaps the odd three across the south—east of england. central and eastern england, but wet towards the north—west. during the course of the day, brighter but with some showers through the afternoon for scotland and northern ireland. temperatures dipping behind the weather system yet again, and then it's a wet end to the day across eastern england. that whole frontal system, though, does push away quite quickly, and in time for the weekend, we're left with low pressure, yes, but i think more in the way of sunny intervals again. than being persistent, aside from potentially this area pushing into southern england later on in the day on saturday. and that could linger on overnight saturday into the early part of sunday, too, but sunday daytime, of the two days, perhaps the one offering up less along many of our west coasts, but in the east, with some shelter, it should feel pretty pleasant again. temperatures getting up into the mid—teens. this is bbc news — the headlines... hurricane ian is battering the us state of florida with powerful w

the logical end game here for you government is to reduce the independence of the bank of england. now don't think that they cannot make sensible at all, but that is the logical end game. you could, you can see story where they say, look, the bank of england are shuffling our ability to grow the economy to attract customer restructuring. therefore, we must reduce independence because interest rate rises are a bad thing in this context. that's politically sensible. political hurts but ends up economically in an incredibly bad place. and i think the u. k is in danger of us because we are not seeing we have not seen for the last 7 years. is economic technocratic, sensible decisions. we've seen increasingly friendly logic of decisions driving, driving, economic outcomes, and there's no evidence about or if your logical based economics is being reduced in any way. in fact, if anything it has become sharper, focus with the election by 83000 people very are. ready representative of the u. k . population of extreme, the right wing economically right wing governments johnson laser. how did

the bank of encland england here in britain. the bank of england have _ england here in britain.nd have had to _ england here in britain. the bank of england have had to bail— england here in britain. the bank of england have had to bail out- england here in britain. the bank of england have had to bail out your i england have had to bail out your decisions yesterday. they've had to step in. the international monetary fund have said that they don't think what you've done is a good idea. is it time to reverse what you've done, bearing in mind what you've seen over the last few days? ida. bearing in mind what you've seen over the last few days?— over the last few days? no, it isn't, because _ over the last few days? no, it isn't, because the _ over the last few days? no, it isn't, because the vast - over the last few days? no, it i isn't, because the vast majority over the last few days? no, it - isn't, because the vast majority of the package we announced on friday was the _ the package we announced on friday was the support on energy. the local radio round is a tradition for part

he has done an unbelievablejob with england.bsolutely incredible what he has achieved :, :,. ., , achieved and the fact that he is aroin achieved and the fact that he is going under — achieved and the fact that he is going under pressure _ achieved and the fact that he is going under pressure in - achieved and the fact that he is going under pressure in the - achieved and the fact that he is i going under pressure in the world cup is _ going under pressure in the world cup is fantastic. disappointed the fans that — cup is fantastic. disappointed the fans that are probably watching this many— fans that are probably watching this many times getting knocked out in the semifinals and not making get the semifinals and not making get the group — the semifinals and not making get the group games. this group of players — the group games. this group of players have got to the semifinals and finals — players have got to the semifinals and finals and they are punching well above their weight and in a few weeks' _ well above their weight an

it went down again after the bank of england and the treasury made its announcements.n what's ahead over the next few days. i what's ahead over the next few da 5. ~ , what's ahead over the next few da 5. ~' , , ., , days. i think there is problem more volatility _ days. i think there is problem more volatility over _ days. i think there is problem more volatility over the - days. i think there is problem more volatility over the next | more volatility over the next few days. when we had the statements from the bank of england and the treasury, the market verdict on that, at least sterling verdict on that said it was not enough. yesterday morning, there was speculation that the market, the bank of england may have announced an interest rate hike even as soon as yesterday, but of course that would be a difficult position for the bank of england to play. for instance, if it showed all of its cards and went through with an immediate interest rate hike and it did not work in stabilising the pound, that would put the bank of england credibility at to test. a resolute stateme

she said they are working closely with the bank of england. this is a statement the treasury put out yesterday. the treasury and the boe are now having daily beatings. yesterday, the treasury emphasizing the independence of the bank of england. some more lines from liz truss in this interview saying we are putting the country on a better trajectory for the long-term. the prime minister speaking in a bbc interview, saying growth won't come overnight for the u.k. the government had to take decisive action, and she is prepared to take controversial decisions. let's get straight to our very own lizzy burden, who is outside the bank of england. thanks so much for joining us, we had these lines from liz truss saying the u.k. is facing very difficult economic times. this does not sound like a prime minister who will back off of the policy she has set forth. lizzy: and that's the same message her junior ministers have been giving in broadcast interviews. truss digging in and resisting calls to sack kwasi kwarteng. he is a close personal friend and her

you saw that bond buying from the bank of england.structural buyer of that size in the marketplace, it does raise the prices of those uk government bonds, lowering the yield. so that has been the direct implication there. if you take a look at some of the moves within the currency side of things, there is this sense among some traders -- and this is what they're talking about -- there was some intraday volatility and a lot of that has to do with positioning of order books in the foreign currency markets right now around banks and whatnot. we saw a big spike, a fall and we're moving lower again the idea here is if there's any kind of stability to the british pound given the announcement that we saw, that may or may not be a good sign of things to come over the last year, record lows for the british pound against the u.s. dollar. keeping an eye on whether or not those headlines from the bank of england will provide any kind of stability. it seems as though for now we're holding. we'll keep a close eye on that also the implications aroun

the breeding ground of our next england players.cture just isn't working. we've heard that loud and clear from a isn't working. we've heard that loud and clearfrom a huge number of people. so this is about providing solutions to that problem as well stop at some of these are more contentious than others, and the two in particular, the ones that need to go to counties for a vote and approval, in terms of the county championship, the headline grabbing proposal is that it will begin later and it will be in one, it will run throughout the summer months as to —— as opposed to it being fractured or split. there will be fewer matches. why will that help the game, and the obvious question, i suppose, what you say to a county that faces the prospect of losing four revenue making matches? brute that faces the prospect of losing four revenue making matches? we are t in: to four revenue making matches? we are trying to produce _ four revenue making matches? we are trying to produce highball_ four revenue making matches? we are trying to produce

that- further intervention by the bank of england be necessary?— england be necessary?s up and down the country. and, at some point, those higher costs of borrowing for everybody undoes the positive impact of any tax reductions all shorter tax reductions or shorter term growth measures. we have heard about the measures, but what is the landscape today? the -ound but what is the landscape today? tie: pound bounced but what is the landscape today? t'te: pound bounced back but what is the landscape today? tt2 pound bounced back a little bit but in the long—term it does not solve the confusion over the direction of uk economic policy. we are seeing how that can impact people across the country. mortgage lenders have withdrawn almost 1000 mortgage products over the past days as they react to the likelihood of a rise in interest rates. it could have an impact on public services. the chief secretary to the treasury has asked government departments to find efficiency savings. he also suggested the government has not yet decided whether benefits will go up in line with inflation