The World Tonight

Is UK economy headed for 'stagflation'?


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The Bank of England has halved Britain's growth forecast for 2025 as it also predicted a spike in inflation due to rising gas and utility bills. On the day the Bank cut interest rates from 4.75% to 4.5%, governor Andrew Bailey stressed he believed the underlying trends still pointed towards reduced inflation long term. However some economists said the economy could be heading for a bout of "stagflation" - that's when growth is low but inflation is high.

As a judge in the US pauses the Trump administration's offer to pay off potentially thousands of federal workers, we examine Elon Musk's takeover of the international development agency USAID.

And we speak to conductor Lidiya Yankovskaya about the refugee orchestra she formed, as she prepares to conduct Shostakovich's wartime sixth symphony at the Liverpool Philharmonic Hall.

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