Chancellor: BoE ‘absolutely right’ to raise interest rates
Video Credit: ODN - Duration: 00:56s - Published
Chancellor: BoE ‘absolutely right’ to raise interest rates
Chancellor Jeremy Hunt says his spring budget must "support" the Bank of England's interest rate rise in an effort to stem inflation.
Speaking to reporters during a visit to a shopping centre in Woking, he says: "We recognise it is very difficult for families, businesses, up and down the country when business rates go up.
But much harder for them would be if we didn't take decisive steps to bring down inflation.
That's why the Bank of England is absolutely right to do what they've done today.” Report by Patelr.
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Chancellor Jeremy Hunt has backed the Bank of England to prioritise tackling inflation, despite concerns rapid increases in interest rates have contributed to.. Sky News
Jeremy Hunt defends his Budget pension reform saying this is the "simplest and quickest way" to encourage doctors to work for longer. The chancellor goes on to say the government's public sector discussions "seem to be going well" as the fall out from his Spring Budget continues.
Report by Rowlandi. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chancellor Jeremy Hunt has defended the speed of the rollout of his budget offer of free childcare for working parents, describing it as the "biggest.. Sky News
Jeremy Hunt's budget leaves household incomes stagnant and people paying higher taxes despite cuts to public services, the Resolution Foundation has said. Sky News
The governor of the Bank of England has said although the UK's economy is "not off to the races", he is now "more optimistic" that Britain could avoid going into recession.
Andrew Bailey sought to reassure the public that they would not see a repeat of the 2008 financial crisis, saying: "I'm confident that the banks in this country are in a much stronger position." Report by Buseld. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Governor of the Bank of England has said inflation is still "far too high" as the bank once again raised interest rates in a bid to control soaring prices.
Following an unexpected jump in inflation in February, Andrew Bailey said: "We need to see it starting to come down progressively and get back to target." Report by Buseld. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The British arm of Silicon Valley Bank (SVB UK) has handed out millions of pounds in employee bonuses just days after its insolvency was averted through a Bank.. Sky News
The Bank of England has once again pushed up interest rates, in the tenth hike in a row. Seven members of the Bank of England’s Monetary Policy Committee (MPC) voted to increase the base interest rate from 3.5% to 4% to help bring down double-digit inflation, with two voting to keep it unchanged. The decision comes after BoE Governor Andrew Bailey provided some optimism for the future of the UK economy as he insisted the country has turned a corner on rising inflation.
Report by Patelr. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chancellor Jeremy Hunt insists raising striking public sector workers' wages could mean "high inflation is entrenched for longer". Speaking during a visit to a shopping centre in Woking, he says: "The Bank is very clear that wage pressure is one of the risks that could cause inflation to stay around for longer than we want. We will talk to the unions about absolutely anything except things that will mean high inflation is entrenched for longer.” Report by Patelr. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Israeli Prime Minister Benjamin Netanyahu departs from 10 Downing Street after meeting with Rishi Sunak this morning. Report by Czubalam. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Defend Israeli Democracy stage a protest on Whitehall as Israeli Prime Minister Benjamin Netanyahu meets with Rishi Sunak. The protesters say Netanyahu is discriminating minorities and attempting to politicise the judicial system. Report by Czubalam. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Foreign Secretary James Cleverly and EU's Maros Sefcovic discuss the "spirit of friendship" present in their negotiations as the new Windsor Framework is adopted. Report by Czubalam. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Israeli Prime Minister Benjamin Netanyahu meets with Rishi Sunak at 10 Downing Street this morning. Report by Czubalam. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The support for some of France's biggest strike in years is emboldening unions to call for yet more action next week. More than a million people are estimated to have taken part in last night's demonstrations at more than 250 protests across the country. Polls show widespread opposition to a rise in the state pension age, from 62 to 64, which is around the EU average. Report by Czubalam. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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