nicola: we are moving from genuine application for elections of ai, so natwest and wpp will join me on later at london tech week. there will be talking about how they are using ai in production. we are seeing applications in the banks, for example, natwest, their chatbot enabling us to have a better customer experience. we have seen applications in health care. we just did some work with on trust in the u.k., and they have with a simple ai use case, doctors can save 700 more patients a week and they can scan in 18 hours the number of patient letters it would've taken four years to do before. you start to see productivity gains already in the enterprise world. the challenge is when you think you can put all of the world's data into a single ai model for consumer use. when you look at business, only 1% of enterprise data is in trustworthy foundation models right now. there is still a long wait to go for business to get that next wave of productivity. tom: with all the privacy implications of that. we are moving from the heigh to the -- hype to the gains coming through. in terms of the bi

business of natwest market and joints me now.e the market exuberant just from the stock market to the bond market. if you see the move we had and bond yields today alone, do you think they're justified? >> i think the market is certainly anticipating that it will be easier with more evidence that inflation is moving lower for the fed to move policy to a less restrictive stance. you see in the bond market, the market is pricing in fed rate cuts earlier than expected, more than had been feared would be the case when we had stronger data. for the equity market, also the benefit of the fed pivot being much more likely now and being able to look ahead while the economy is still showing signs of relative resilience to be able to think about the fed doing what it can to support the economy, avoiding a hard landing by taking -- by having more room to take his foot off the brake if it can before the end of the year. sonali: what are you looking for today from this fed meeting and the dot plot in particular now that we know what we know ab

for all of the market dynamics, let's get straight to imogen bachra, the market had at natwest. we are in an election campaigning mood and we will not hear from the bank of england until late look at the inflation figures. does it change the dynamic for when they will cut rates? francis: the boe had elevated service price inflation to be the key indicator of inflation persistence and the key of what they were watching to give them the signal they could cut rates. that print at 5.7. it still leaves in august cut in the balance. had it been higher if you could easily say and august cut is off the cards. had it been lower, you can say it brings to a clear base case. but 5.7 is a no man's land but in we are left being august a marginal base case for a rate cut but not a high conviction call and i don't think today's data puts us in a closer that the first rate cut will come in august. francine: that means we will hear from the back of england and does it make it harder for markets to know how to decipher that august decision? imogen: a little bit. we will get the numbers tomorrow. w

the purchase is expected to have a 20 basis point impact on natwest with the ceo saying it is a greatortunity to accelerate growth. some of the shares of the company is here to my right. this is not just the first announcement we are seeing in terms of the banks looking at other parts of the market. earlier this year, we also heard from barclays and that banking business. that trend is continuing over here in the uk. >>> let's look at fx markets. it is an interesting one with the central bank decisions coming through. at this stage, we have the euro moving lower against the u.s. dollar. trading lower by 0.25%. we are also keeping a close eye, naturally, on what happens with sterling. it is moving lower ahead of the boe decision. currently trading at 1.26. earlier this morning, it was 1.27 handle. now below that. when it comes to the swiss franc, we are keeping a close eye here in the wake of the ecb decision. i want to take you to the bond market. european yields are in a very interesting momentum this morning not just because of the central bank decisions, but also because we are exp

now, de—banking, remember that when nigel farage had his bank account closed by natwest.k had similar experiences. well, the scandal promised promoted the government to take action. and they promised back in march to change the rules, to make it harder for banks to shut down accounts for political reasons. but was all that simply hot air? the rule changes have been lost in a process known as wash up the hasty passage or ditching of legislation ahead of the dissolution of parliament before an election. well, toby young is here and he says that the government is still failing us over de—banking toby, you have campaigned hard on this, this is an issue that seems to have just got lost in the melee. yeah >> i mean, it's, it's one of the casualties of the snap election , casualties of the snap election, yeah.the casualties of the snap election, yeah. the free speech union, the organisation i run, got debunked , back in 2022. we fought back and managed to get paypal to restore our account. but we thought, well, this is obviously not just happening to us. so we then embarked on a

now, de—banking, remember that when nigel farage had his bank account closed by natwest. folk had similar experiences. well, the scandal promised promoted the government to take action. and they promised back in march to change the rules, to make it harder for banks to shut down accounts for political reasons. but was all that simply hot air? the rule changes have been lost in a process known as wash up the hasty passage or ditching of legislation ahead of the dissolution of parliament before an election. well, toby young is here and he says that the government is still failing us over de—banking toby, you have campaigned hard on this, this is an issue that seems to have just got lost in the melee. yeah >> i mean, it's, it's one of the casualties of the snap election , casualties of the snap election, yeah.the casualties of the snap election, yeah. the free speech union, the organisation i run, got debunked , back in 2022. we fought back and managed to get paypal to restore our account. but we thought, well, this is obviously not just happening to us. so we then embarked

natwest was subsidised by compare. >> yeah, exactly.saying that private schools should be sort of subsidised by the government. >> they're not really schools . >> they're not really schools. they're not they're not really, they're not really. and i think this is the only country that has that. and let's be honest, if you're told this costs this and then suddenly in the middle, you change the goalpost and add 20% on, that is a change of the goalpost. no, no, it's announcing a policy. no, no, it is your child. yeah. that's all life. >> well, listen, we will discuss more of that. >> stay with us. gbnews.com/yoursay. i'd love to hear your thoughts on this as well. official data from the department of education shows as of january, the number of pupils in independent schools was, oh, just over 500,000 previous year. in 2021, it was a couple of thousand less. right. so stay with us. coming up my niggle nana niggle. i'll be speaking about why theatres and drama schools have been offered plus size inclusivity training for next, and the first ti

let's bring in michelle girard, the ceo of natwest.ichelle, i didn't say everything you were thinking. i did mention a couple of things. you are at 185. >> we're at 190. >> we're at 190. you're above the consensus? >> slightly. >> this is versus 175 last time. you point out down from what was the average in the first quarter quite a bit higher. it was in the twos. >> year to date, running 246,000 in payroll gains per month. this would be a solid number, but slower than what we've seen and slower from what we saw the second half of last year. the trend is moving in the direction the fed would like to see. it has further to go. you talked about the numbers continuing to weaken for the remainder of the year. in general, we think the economy will slow or stagnate over the second half of 2024. >>ing m >> moving the fed's way. it's implying this means cooler inflation data. is that like night follows day? it is weird to try to cause higher unemployment. >> exactly. although, i don't think the fed is necessarily trying to force the economy in

. >> you don't have to have a bank for barclays, natwest, others are available, separately on the high we have seen some of these banking hubs set up. they do exist in some parts of the country. we just want to do it at scale. so we've been talking to the banks. we've been talking to the banks. we've been talking to business, ever since keir starmer was appointed , as you starmer was appointed, as you can imagine, because we don't want to introduce things that are a surprise to business. we don't want to put them at a disadvantage, but it is really important that there is a presence on the high street. so these banking hubs, people share that space so that you can have, people there who can help, but you don't have the costs of a, of a high street bank that, that a lot of our banks have turned away from. >> no, no competition between different banks. just one state authorised central banking hub. it sounds a bit monopolistic. >> it's not a state authorised banking hub. >> it's. it's a place where people can come and get support, which we know they need. >> i mean, my mum, for example,