内容摘要：Pay rises for teachers and some NHS staff could cost an extra £3bn if above-inflation salary boosts go ahead, the Institute for Fiscal Studies (IFS) has warned.

Pay rises for teachers and some NHS staff could cost an extra £3bn if above-inflation salary boosts go ahead, the Institute for Fiscal Studies (IFS) has warned.

Tariffs could lead to "higher inflation and put a stop to further interest rate cuts for the time being – exactly the opposite of what equity investors want to happen", he added."Higher prices could hurt demand, and there might be a trickle-down effect that knocks business and consumer confidence and feeds into weaker economic activity."

The prospect of interest rates staying higher for longer helped to strengthen the dollar.As well as the dollar rising against China's yuan and the Canadian dollar, the euro fell to more than a two-year low against the US currency.Oil prices also rose following news of the tariffs, as traders tried to analyse how tariffs on Canada and Mexico - the two biggest sources of oil imports to the US - would affect the market.

Chief investment strategist at investment bank Saxo, Charu Chanana, warned that while tariffs could be beneficial for the US economy in the short term, in the long run they pose significant risks."Repeated use of tariffs would incentivise other countries to reduce reliance on the US, weakening the dollar's global role," she added.

Oasis will kick off their

in Cardiff, with tickets due to go on sale later this week.Base jumping is not illegal in the UK but gaining access to suitable base sites can prove problematic in terms of trespassing, unless prior permission is sought.

It is considered an expensive sport because of the significant costs involved in training and the cost of travelling to suitable base sites.Lhotse stands at 8,516 m (27,940 feet) tall.

Mr Howell's aim is to jump from the highest altitude in the world.The professional wingsuit flyer estimates it will take him about four minutes to "fly" down from the mountain.