to recover from the sharp losses of last week. the us federal reserve has signalled a possible rate cut in september, but the us inflation data, due to be released on wednesday, could force them to adjust their initial assessment. we'll also get a reading on the chinese economy on thursday, with the release of several key metrics for the same month — retail sales, industrial production, unemployment and house prices. portfolio managerjun bei liu explains why the market volatility we saw last week is here to stay. we are going to be very, very much data dependent, and markets now pricing in us with a 50 basis point rate cut in september, so any data points that challenged that view is going to drive more volatility. we await eagerly to see what the inflation data might look like, but that is going to have quite a significant ramifications for the rest of the world as well, because every central bank looks

forward to what the fed is going to do and then follow suit. ,,, ., ~ ., ., suit. speaking of the fed, what do ou suit. speaking of the fed, what do you think — suit. speaking of the fed, what do you think the _ suit. speaking of the fed, what do you think the course - suit. speaking of the fed, what do you think the course of - do you think the course of action will be? there are some thought the volatility we have seen is in some part driven by the fed waiting too long to drop interest rates? i the fed waiting too long to drop interest rates? i think the fed has _ drop interest rates? i think the fed has made - drop interest rates? i think the fed has made a - drop interest rates? i think- the fed has made a reasonably clear it is coming, and i think the 50 basis points in september is a pretty good bet. i think pretty soon they will start to talk more directly leading up to that cat. i think after all with many years of experience of seeing the federal reserve really giving into what the financial markets are looking for, so we are reasonably confident that rate cut is coming. l115 reasonably confident that rate cut is coming.— cut is coming. us retail data from china. _ cut is coming. us retail data from china, us _ cut is coming. us retail data from china, us consumer. cut is coming. us retail data - from china, us consumer prices are all due out this week. what are all due out this week. what are you expecting from those numbers and how will that impact policymakers in both the us and china? i impact policymakers in both the us and china?— us and china? i think in terms ofthe us and china? i think in terms of the us _ us and china? i think in terms of the us we _ us and china? i think in terms of the us we are _ us and china? i think in terms of the us we are expecting - us and china? i think in terms| of the us we are expecting the inflation data will be weaker, and we do expect that to continue to pave the path for the fed to cut the rate in

september. now with china, the retail sales is expected to be weaker, given what we have heard from so many culprits already from europe in terms of luxury brands about how weak the consumer is. so we do expect to continue to show weakness. policy makers in china have made it quite clear they will continue to stimulate they will continue to stimulate the consumer part of the economy if they need to. so there needs to be more stimulus to come through to stabilise the consumer and boost confidence.— confidence. next to the economic _ confidence. next to the economic challenges i confidence. next to the - economic challenges facing muhammad yunus after he was sworn in as head of bangladesh's government last week. —— caretaker government. the incoming leader will have his hands full reviving businesses close down because of the protest as well as finding solutions to the youth unemployment that has plagued the previous government. so what will be top of agenda? let's put that question to a former economic adviser to the indian government. great to get you insight on this story as it continues to unfold. muhammad yunus, what do you think will

be his immediate priority is on the economic front? he be his immediate priority is on the economic front?— the economic front? he will have two — the economic front? he will have two priorities, - the economic front? he will have two priorities, one - the economic front? he will have two priorities, one is l the economic front? he will. have two priorities, one is the absolutely immediate, which is the little disruptions in the market caused by the last month of disruptions of protests, internet shutdowns, which have been affecting the economy, and he will have to attend to that immediately so it is put back on trail so that bangladesh �*s trade, export of garments, apart from other things, get back into shape. but he will have two a bit more intermediate programmes and one you refer to already. youth unemployment and unemployment has gone very high, and inflation has been about 9.6%, extremely high. bangladesh is used to about half that rate, so it had gone up. these two are not something that can be counted within weeks. they will

require the central bank, the ministry of finance, to get involved in the strategic plan is to get the country out of this. earlierthe is to get the country out of this. earlier the central bank was responding a bit too much to the call of the government virtually printing money, releasing dollars onto the market, which was cutting down on the foreign reserves —— foreign exchange reserves, this will have to be corrected but he needs a plan. the immediate problem is to put the market backin problem is to put the market back in place of the trade takes place, money begins to flow, foreign exchange reserves from bangladesh had gone up a few years ago to a6, a0 $7 billion. it's come tumbling down. fortunately, the multilateral organisations, most prominently the imf, is there, and that immediately create some comfort that money is not going to run dry, the imf is going to step in. but

all of this is a short window. it is an opportunity, because the authoritarian regime, which i think is the primary reason why this took place, it was not the economy, the economy was a trigger. fortunately, it was really fortunate for bangladesh, that the authoritarian leader has gone, and the time has come to restore the economy and confidence and the economy let me steve also points out, over the last ten years, give up the last two years, over the last say eight years, ten years before that, the economy was doing very well. bangladesh was going extremely well, but capital income, neck to neck with india, which was unimaginable ten years ago. so the task now is an immediate task that the country has to go back to with the interim government.— back to with the interim government. back to with the interim covernment. �* ., ., ., government. before we get onto what he can — government. before we get onto what he can do _ government. before we get onto what he can do next, _ government. before we get onto what he can do next, just - what he can do next, just remind us as well, what happened in the previous two years than the f bangladesh �*s economy was doing so well until just recently? why did they go wrong? just recently? why did they go wron: ? ., , ,

wrong? two things. during covid, bangladesh, - wrong? two things. during| covid, bangladesh, namely wrong? two things. during - covid, bangladesh, namely like the whole world did poorly but relatively better. bangladesh �*s growth on the growth chart was doing relatively better. after that the tumble comes. a couple of things have happened. 0ne couple of things have happened. one is youth unemployment was building up, inflation, and for that, i don't have enough inside information but my own belief is the central bank was coming under pressure. autonomy was being eroded by the government, and there is another thing, government, and there is anotherthing, most another thing, most authoritarian leaders anotherthing, most authoritarian leaders take pride in a stronger exchange rate. so my belief is bangladesh for a while was holding the exchange rate stronger than the market would have done. if you just look at the chart, it is visible it is so steady that you know that the central bank is coming in and releasing dollars onto the market. so when the exchange rate that was came under strain, that adjustment takes place very, very abruptly.

money coming into bangladesh begins to dry out and the foreign exchange are suddenly going. again, massively, unlike sri lanka, bangladesh reached out to the international monetary fund on time so that is that in the background, but overall, given the political situation, it is a very, very dire state of the economy. if i may put in one more thing, steve, which does give me hope, is that usually during these kinds of political turmoil, huge uncertainties and a lot of the uncertainty is there, but there is one good hope in the case of bangladesh. the groups that led the revolt, and caused sheikh hasina to leave the country, those groups have not grabbed power. they have passed on power to someone else, they have constituted the body, which is a great sign, and that you have to play by, that political neutrality of the body that has been brought in,

so it was made into an inclusive effort to revive the economy and the policy of the country. economy and the policy of the count . , ., , ., country. one question before we let ou country. one question before we let you go. _ country. one question before we let you go. talk _ country. one question before we let you go, talk to _ country. one question before we let you go, talk to me _ country. one question before we let you go, talk to me about - let you go, talk to me about youth unemployment. you mentioned in both of your answers, also young people are very much at the forefront of the against sheikh hasina. so that the against sheikh hasina. sr that becomes the catchment. when the political turmoil picks up, when you have youth unemployment, and there is another category where bangladesh does particularly poorly. this is called youngsters who are not in education, not in employment, not in training, so they are virtually no, they are around with nothing definite on the hand. that category had risen precipitously in bangladesh so the youth unemployment with people who had not an education, not unemployment, that category had shut up. once again i don't think the trigger was the economic crisis. there are other countries in the

world post—pandemic facing west. the political authoritarianism that was on the rise, and i could feel it, the rise, and i could feel it, the support base had been eroded for sheikh hasina, even within the party, there were people who were beginning to mavuba, i was then bangladesh last year, that there was that disquiet. the economy pulls the trigger on that gets control of the situation.— the situation. thank you for that context _ the situation. thank you for that context and _ the situation. thank you for that context and that - the situation. thank you for | that context and that inside. the situation. thank you for l that context and that inside. i appreciate your time. walt disney's experiences division laid out an ambitious growth road map over the weekend, as it tries to drive customers back to its theme parks. the company announced plans for four new cruise ships and six new theme lands, including one dedicated to new disney villains at the magic kingdom in florida. disney has seen slowing attendance at its domestic theme parks, as customers cut back on spending — a trend it expects to continue over the next few quarters.

speaking of disney — deadpool and wolverine made box office history on sunday — becoming the second film this year to have grossed over a billion dollars, with the first being inside out 2. the massive success of both these films will be a boost for disney, which had a string of losses last year. that is it for this edition of business today. see you again in the next hour. goodbye for now.

hello and welcome to sportsday, with me, chetan pathak. coming up on the programme — au revoir, paris 202a — after over two weeks of competition, the olympics come to a close. close to 1,000 medals have been handed out, as team usa win the last gold on offer, taking them top of the medal table.

and after two bronzes, sifan hassan finally has her hands on gold, after winning the marathon in an olympic record time. welcome along, thank you forjoining us, as the paris 202a 0lympics come to an end. it all began over a fortnight ago — and after 32 sports, 329 events and 987 medals — the games finished on sunday with a dramatic women's basketball final which changed who finished top of the medal table. more on that to come but first, this is how the closing ceremony played out in the stade de france. a chance for all the competing nations to come together and celebrate the games.