support a company and reinforce our defense and security forces in their mission with new united kingdom. central bank has height interest rates by the largest amount since 1989. the bank of england increase the rate from 2.25 percent to 3 percent in the attempt to control inflation. the bank's policy makers say the u. k is headed for its longest recession since the great depression in the 19th that is, an independent monitor will be appointed to oversee the operations of donald trump's financial empire. the order was made by new york judge presiding over a law suit, which accuses the former us president of fraud. as i headlines way back with more after witness. ah ah ha. easy ah o'neill would deal with louis got hung on good like oh no, i'm not well yeah, but i couldn't hold up by ha oh come now todd t could in kid black men you know slow to bunk up item that go that i need to teach them have to my day and in the elecom to clean where you'll be on a non keep b l and it's sassy to happy die champion. john simpson be like up in the bottom. what did out die get tool ties idea man. i'm calling from the t

the united kingdom central bank has height interest rates by the largest amount since 1989. the bank of england increase the rate from 2.25 percent to 3 percent in the attempt to control inflation. south korea's defense minister john supp lee is in the u. s. for talks following a barrage of miss, our launch is carried out by north korea on thursday. solar washington of extended joint motor exercises and arranging. trilateral talks with japan in mid november. those are your headlines. these continues here on al jazeera. that's after bollywood dreams tuesday with us, if you can for stories and inspiration, short documentary use from around the world that celebrate carries and resilience in the times of time with the, with the land owners today. ah ah no, we just made a nickname. sunny top lag on the medical that about or young impressionable. yeah, i'm feeling under the i wish you lana. i do about the lobby. a la la la. la la la. hi. this is on the other is 24. i've been i've got it out. but it ah a god with man, so love. i'll get on with me on my back in one way. butcher minu

or here the united kingdom central bank has imposed its largest interest rate rise since 1989 bank of england to put the right out from 2.25 percent to 3 percent in an attempt to control fost rising inflation. charlie angela has more from london as predicted. the bank of england has raised rate by point 75 percent to 3 percent after the vote by the monetary policy unit, which was not unanimous. that's the same rate rise chosen by the u. s. federal reserve and the european central bank last week is the highest rate rise in this country since 1989. and the last time we had a 3 percent interest rate was in 2008. during the financial crisis. the bank also releases economic full costs saying that britain is already in a shallow recession, which could continue until mid 2024. and one. it's not the deepest downturn. it could be the longest. it's records began in the 1920 and the governor of the bank country, bailey explained. the economy has suffered a huge shock. if we do not force right now, it will be less later on. and as the forecast we're publishing today shows is a tough road ahead. t

wednesday, we'll have the figures which will influence the monetary policies of the central banks in the united kingdomhe u.s. the consumer price index in the uk rose by 10.1% from the year earlier in september. it returned to july's recent high. the bank of england lifted its key interest rate for the eighth consecutive time in early november to curb inflation. the rate has risen by 75 basis points to 3%. the move marked the first time since 1989 that the central bank has raised the rate by such a large margin under normal monetary policy. the bank projects that the cpi will pick up to around 11% by the end of 2022. it also indicates the possibility of another rate hike in the coming months. the u.s. department of commerce will release retail and food services sales for october. total numbers for september were virtually unchanged from august. people bought less motor vehicles, electronics, furniture, and building materials. meanwhile, sales at food and beverage stores were up. the federal reserve is maintaining its policy of raising interest rates to control inflation. consumer spending could affect

the fed is central bank at the world, including central banker to the united kingdom. jonathon: that moment right at the end of the news conference, or that journalist let him wrongly to believe this is rallying. he just went through the list one by one as to why maybe this market should not be rallying. lisa: perhaps he said the quiet bits out loud. they don't want to see the market rally or loosening and financial conditions. what you are seeing is a higher terminal rate being priced into the market. 5.2% being nearly priced in, as soon as april or may of next year. jonathon: how difficult is it to be bullish right now based on what we had from the -- heard from the chair yesterday? lisa: unless you are going to see immaterial downshift in inflation that will come before early next year, it is hard to be overly bullish, which is why people can blame some of the bearish tilt of this program. that is basically what the federal reserve is saying. jonathon: i think you can blame everything on chairman powell. many people were on the others. tom: they may be on the other

london were the latest inflation figures from the united kingdom show that rights have increased to levels last seen 4 decades ago. while the european central bank has warning of recession in the euro's own, i'm a join now by vicky price, who is chief economic adviser at the center for economics and business research. she is also a former british government economic advisor. thanks so much for being on this news . our 1st of all, there are warnings that things are going to get. i watering the difficult. how much worse is it going to get for people in the u. k? we are likely to see tomorrow when the autumn autumn statement is unveiled. so in other words, almost like a budget, but actually tell you what's going to be happening probably from the beginning of the next financial year, which starts in april 2023. going to be getting some information about planned tax increases, some of them were ready. no. and also planned public sector spending cuts, that, of course, will mean that the economy will be squeezed even further. so the likelihood is that indeed, just as a bank of england has already been forecasting, we're going to see recession in the u.

governor of the central bank, to be precise, talking more interest rate hike, tom, even with economic weakness on the agenda. tom: i just don't get it. governor bailey of the united kingdomthe other day looking at the two-year recession, how you raise rate? jonathan: they are looking to do it, tom, and we can keep discussing it. let's get you some single names. we can do that with lisa. lisa: hey, jon. you were talking about apple. we can start there. if want to go to what he was talking about moments ago on our show, it does not see tech leadership reasserting itself anywhere in the near future. what does it do. how do we see that priced in and reflect it by earnings estimates? apple is one of the main outliers when it comes to. a more positive outlook. . here's one of the other tech names. what does the latest information about them, paring back the production of the iphone 14 say about how long they can remain insulated? what we are seeing in the semiconductor space and more broadly in text, and the shares are down two point 1%. everyone wanted to have home cooking kits in order to create some variety when they were at home all the time. blue apron is down 17% almost,

seen in the united kingdom decided to start those conversations earlier with parties involved to evaluate stress tests, to evaluate exposures so as i say other regulators as well as central banks started to look under the hood a little bit more and that's a good thing, we can be a good example that way. having one accident you learn from it. that is important. there are other ways, different kinds of stress testing, different ways of looking at stress testing and of course claudio boro has been at the forefront of trying to get the information that is necessary to understand the linkages between the non-bank financial institutions and how they are networked and there's more work to be done, there will always be more work to be done but the bias has been at the forefront of trying to expose these linkages and the magnitude of them so as to provide some daylight. >> one issue we haven't talked about his fiscal policy and fiscal policy everywhere is moving in the opposite direction of monetary policy. there's some justification, intense temporary pain in europe associated with energy prices calls for temporary relief but this is at the expense of higher interest rates that bring

united kingdom, decided to start those conversations earlier, with the parties involved to evaluate stress tests and evaluate exposures. so, there was -- as i say -- there were other regulators as well a central banks, they started to look under the hood a bit more, that's a good thing. we could be a good example that way. that it's having when accident, you learn from it. that's important. there's other ways in which a different kind of stress tests, a different way of looking at it, claudio and the bif has been at the forefront of trying to get the kind of information that's necessary in order to understand the linkages between the non-bank financial institution and how they are networked. there's more work to be done. there will always be more work to be done. the bis has been at the forefront trying to expose these linkages and the magnitude of them. so as to provide some daylight. jason: one issue we haven't talked about his fiscal policy. fiscal policy everywhere is moving in the opposite direction of monetary policy for some of it there is some justification intense temporary pain in europe does cause for temporary relief. but all of this is where policy comes at the expense of higher intere

united kingdom, decided to start those conversations earlier, with the parties involved to evaluate stress tests and evaluate exposures. so, there was -- as i say -- there were other regulators as well a central banks, they started to look under the hood a bit more, that's a good thing. we could be a good example that way. that it's having when accident, you learn from it. that's important. there's other ways in which a different kind of stress tests, a different way of looking at it, claudio and the bif has been at the forefront of trying to get the kind of information that's necessary in order to understand the linkages between the non-bank financial institution and how they are networked. there's more work to be done. there will always be more work to be done. the bis has been at the forefront trying to expose these linkages and the magnitude of them. so as to provide some daylight. jason: one issue we haven't talked about his fiscal policy. fiscal policy everywhere is moving in the opposite direction of monetary policy for some of it there is some justification intense temporary pain in europe does cause for temporary relief. but all of this is where policy comes at the expense of higher intere

united kingdom. is that is were downing on other nations? >> i think it is in part a function of the fact that the fed has pushed back against becoming the defective central banky on the u.s. that has come at the expense of other economies. tom: what does inversion meet for our banks and financial stability? what does it mean for jp morgan, bank of america, the super regionals, and smaller banks out there doing business with business? >> traditionally, and inverted yield curve is bad for the financial sector because a steep curve implies the ability to create money via kerry. the reality is higher rates are generally better for banks than lower rates. if we are in a higher rate environment, we will find the financial sector not responding the way it typically has two inverted yield curve. tom: what are you going to do here? what is the change in strategy for the next week or so? >> i think the market is getting poised for a break out even more inverted from here. tom: give me numbers. >> negative's -- -75 basis points. tom: we are on the edge of 79 or 80 inversion? >> i would say we can get as deep as -100 basis points by the end of the year? tom: 45 years, i

central bank, etc. and so there's a lot there's a lot there. and also then you're talking about, you know, how do they deal with the liabilities, the debts shared across united kingdomrcgovernment d kingdom, that liabilities, the debts shared acrcgovernment has? gdom, that liabilities, the debts shared acrcgovernment has? we m, that liabilities, the debts shared acrcgovernment has? we don'tat the government has? we don't have books. i think have balance books. and i think most governments world. most governments the world. so it would be sharing those liabilities, although i nicholas sturgeon referred to as sturgeon referred to it as a solidarity payment , which is solidarity payment, which is quite interesting in terms of the legal argument this was heard days in october heard over two days in october and scottish government are arguing this referendum arguing that this referendum next be sort of next october would be sort of advisory . this would advisory referendum. this would just be essentially an opinion poll. but westminster suspicion , as they say, actually we know this is an opinion poll and in fact the opinion polls actually still show dollar hasn't still