as for president, donald trump, in their 1st live presidential television to face with poles pointing to a tight race him either candidate move in date or in their favor. full analysis? announce 0. for some of the media stories, a critical look at the global news media. on how to 0 government shut off access to social media. the hello that i'm laura kyle. this is counting the cost on ologist era. your weekly look at the world of business, and we cannot make this week interest rate cuts on coming signal to the us fed of a major central bank since doesn't know or and for and cost is to fight against

inflation. tanning aqona. it's been a year of volatility, so the japanese currency, so what is driven the wild swings and begin until the rest of the well, the winds just kind of employees ignore that. bosses. australia is the latest nation to decide. they come off to work. how is and with a copy of the inflation is easing the era of high borrowing costs could be coming to an end. that's the message from central banks, governors who gathers of the us federal was of annual confidence at jackson hole last week. the much anticipated message came from the fed charge. one pole who was at the time has come for rate cots, most likely in september. that brings it into line with other major banks, which now seem to be more concerned about unemployment and economic growth. then prices and it could bring some concept for consumers who have been struggling with a high cost of living for the past 2 years. let me call some sharif reports. the

time has come for policy to adjust us federal reserve. chad jerome palm explicitly endorsed cutting interest rates in his highly anticipated speech in jackson hole, wyoming inflation has declined. cigna kelly, the labor market is no longer overheated, and conditions are now less tight. and those that prevail before the pandemic supply constraints have normalized. and the balance of risks to our 2 mandates as change addressing center bankers at an annual meeting, paul said he was confident inflation was within reach of defense, 2 percent target. the bottom line here is that the 1st cuts coming in september, there is little doubt about that now. he all, but promised it will be coming to fed raise rates to a 20 year high with inflation. so during the cold, with 19 pandemic, it hasn't moved them in more than a year, even as inflation. so, and the economy kept growing. powell is now hoping to avoid recession,

as well as further increases in unemployment. often speech. pablo, how talks with the governors of the bank of england and bank of canada, both have recently got the interest rates as has the, your pin central bank. over the summer, we saw inflation return to normal. and now interest rates are coming down. our books are the envy of the developed world. the dollars global reach means that is the fed does come rates next month. it could ameliorate a global slowdown and help ease the cost of living crisis that continues to impact consumers and the consumption brief. obviously the for counting the cost as well. now here is a highlight of the weight. why do central bank set the interest rate target up to percent of the idea of which an h from a comment made by full money's in finance. minister wrote to douglas in 1988. he

said he wanted the inflation rate to come down to between 0 and one percent. for 20 years, the country had been struggling with double digit inflation. the bank of using and then made it a special government policy. but extended the target range to 2 percent. in 1991, the bank of canada followed suit. the bank of england set fits inflation rate as 2 percent in 2003, nearly a decade later, the federal was up also adopted a 2 percent target. joining us now from brussels is frederick eric some, he's the director of the, your pin center for international political economy. great to have you with us. so jerome polly didn't quite say mission accomplished that in place and is under control. that's very near that 2 percent target, but how close is this and how much of an interest caught all we'd like me to see in september? i mean, i think not just united states, but also all the major markets in the world that have suffered from high inflation

since the beginning of 2022. i think they're now back in safe territory inflation depending on what make sure that you want to use is in the region of 2 to 3 percent . the great inflation pressures that well, that in 20202021 they have most of going away. and of course, most of these pressures came from extraordinarily supply of liquidity, from central banks into the economy during the pandemic. and then some of the economy was, was even more supported by lots of different uh, support packages that came from governments your independent make. and that had the effect of off, uh, making people to have a lot of money in the pocket. but they couldn't spend it on much because they're old enough times. so those precious may have dissipated somewhat, but what risks still remain before we can truly say that we are in safe, tyler tray. for me, the couple fun up the risk for inflation, i mean won't bonus pinokie is which is that we have

a lot of workers who are now in the process of wanting to compensate for the loss as in really income that they have suffered from during the inflation repaired, so costs have gone up substantially, but to pay rises have been far away from, from the cost of living that they have enjoyed. we see now in country of the country that, uh, the pressure is coming from trade unions or from the labor market. this is getting stronger and stronger in the u. k. recently we've seen strikes, for instance from frame drive is demanding more pay and, and the government have basically said that the going to show up public sector pay quite significantly. so there is this dynamic which is that which can have the impact off of pushing inflation up again. but having that set, i mean, you're not going to get information just because you have a pay rises that pay wise also need to be supported by law,

liquidity going into the economy and that central bank can control. okay. yeah, because he has a got jerome poly to walnut keeping high interest rates would cause some pain for families and businesses. you say that now looking to recruit, the law says, how will this reduction in rates help them? and i think it's going to vary from family to family and as pulls from country to country as well. i mean, the major effect is that the, the interest rates on different most just you have as a family, will be impacted by a reduced rate. now, you know, there are lots of differences between countries about how big interest rates the costs have gone up on their mortgages. so, i mean in some countries like america, when you, when you buy a new home you, you basically contract with the bank on a fixed rate for a long period of time. and it's going to take one for high interest rates to creep into the pockets of families and seriously reducing com. but then you have all the

countries that way you see much more of a knock on effect coming from interest rates directly into us old budgets and. and they are supposed to have been suffering more from living, the cost of living prices than, than in other countries. but generally speaking of a lower interest rate is going to be much better for households because they can reduce also credit contacts and cost of servicing further concepts. and there's going to be more money for them to spend. if we look at how the central banks responded to this, so we have fed officials thinking that the spiraling and facial that we saw in 2021 would be trends of tre. how do they get it so wrong? a good question. um, i'm surprised about the pulled runs we have for the money i missed chief that we've been seeing from not just friends, but also central banks over the past couple of years to i mean as you saying, the 1st phase north of meeting batch, there was an inflation dynamic going on the corner me and when it was bleeding

obvious to everyone that it was based based that it was going to be transitory. and that it was most to relate to supply chain from strains that of the march during the pandemic with ports and others that couldn't supply goods in, in, in the way that could in the past. now of course, we know that this is just a bogus economics. the, the source of it was an oversupply of money going into the point of me. i'm gonna just take america when it had donald trump in 2020, at the tail end of his presidency. having a fiscal deficit don't work close at 15 percent of g to be done in 2021 comes to buy another ministration with the american risk supply and adding another to trillion. use dollars uh to households with the checks that, that the federal government was sending out to everyone for service going to be inflationary is just a matter of time before it's going to creep instead of pushing face. right. so we know that the states of america,

the economy is felt throughout the world. if the u. s. has indeed avoided a recession kind of well. now take a breath. what i think we are generally not just in america, but generally i think we are in a territory where we go to find the economic activity to increase a bit. i mean there may be slow downs coming in the next in the next couple of months as well. but if you look at sort of the big money indicators of what's going on the economy, we can see that credit rates are going up. and this has been obvious in, in, in europe over the past quarter, where, of course, the economic decline was most severe then it was in america. so i think we are just literally on a pass. well, a combination of all the interest rate costs more interest rate comes coming in countries that have already started to reduce them all going to help support a more stable pass for economic growth also globally. that's good to have some good news, frederick x,

and many things. indeed for joining us here on counting the cost. thank you. the japanese currency. it was at the centre of a global market mountain town earlier this month, economist and now we thinking whether the yen should still be viewed as a safe haven asset. the again is the world, the most traded currency behind the us still on the euro. it's mainly because people have been able to borrow it cheaply and invest the currency elsewhere with higher tons bought the value of the yen has gone up shop the opposite, the central bank heights interest rates for the 1st time since 2007 that has split to invest as who rushed to the exit dual. well, let's take a look at what's behind the wild swing in the end valley. japan has suffered from deflation and stock nation for decades to encourage spending and revive by the central bank because cap rates of volk, balsam, negative interest rates of catch the in on a weakening trend. which markets have come to rely on. investors borrowed the

currency at low interest rates and reinvest to the proceeds in high a yielding assets elsewhere in what's known as carry trades. but the game has depreciated shop throughout this year to levels not seen since 1986. the bank of japan has intervened. several times to prop up the currency. meanwhile, wages have risen and prices have searched stoking inflation. the bank raised its interest rates to 0 percent for the 1st time in 17 years in march. okay, a shift and as long standing monetary policy that was followed by another rate hike in july, when central banks raise interest rates that currencies tend to rally, begins strength and move in 12 percent against the dollar this month. that has triggered a huge unwinding of the so called carrie trades when invest is started selling that shows to cover losses. the market time all spiraled, and it concerns the american economy. it was at risk of falling into recession last

week, the bank of japan's gulf. no one global markets remained on that able some of the one i most do. we recognize that the financial and capital markets in japan and overseas remain unstable for the time being. we will continue to monitor these developments with an extremely high level of footage and see if it becomes clear that the outlook for the economy and price is, is a lining with our expectations. we will continue to maintain our basic stance of adjusting the degree of monitoring easing in the future. so what the bank of japan, the sides could have major implications for the rest of the. well to discuss this further, let's go to take you and speak to jessica cole. he's executive director of the investment advisory firm monex group, japan. and he's also a former chief economist at jp morgan and merrill lynch. great to have you here on counting the cost. the big question here is with all of this bullet, tennessee is, begins still a safe haven currency. the certainly we may use the bank

or to the speculator the so, you know, when you look around the world, you'll find that you'll know what are exhaust. uh yeah, the price of the call monthly bill is only a quarter of the thing much lower then you're all the money to borrow money in the higher and you'll be the yeah. but the banker to go in and when she, when she they because the better the are they getting more but it's little graces at the beginning to be so bold a tile. what kind the bank of japan do to combat?

well, i mean the, the, the, the, the, not the condition, the condition and then we all know the japanese economy doesn't really rather do we, you know, we are, you know, the right mindset. the you're on the back to find really have very little the governor normalize each of the long as low cost. there is lation buyer is quite a few ways, very weak. yes, the dependence time to learn doesn't as long as the wells may do, major central banks of the world in raising interest rates at this time, it didn't seem to come with a bit of a surprise. so many people surprise the prize.

you know, the right, the, the says the 30 years. all right. and now that the economy is doing better is probably normalized where all the time the good, but was privacy or the a is a big the so i guess is a, that's a economic policy generally to, to raise interest rates and keep the in strong or to lower them and encourage domestic spending? no, i think the heavy function, you know, the function tomorrow we are the we indeed the

private suited for a lot of them by the bank of the b. that's the most important thing to remember. no, to isn't bring back the function, financial markets in japan. okay. just for coal, great to get your perspective the from to okay. many things indeed for joining us now, it's being seen as a big win for work is drawing a cost of living crisis astray. aliens can not refuse to monitor, read or respond to work, calls and emails outside of paid hours. the country joins a growing list of nations, i mean to protect employees, what life balance. but it does come with one condition because have the right to disconnect unless doing so is deemed unreasonable. so what is considered reasonable contact outside of working hours? we'll put that question to our guest shortly. first, this report, victoria k, some b, the employees in australia and now looking forward to swiping out and

switching off. it follows the introduction of a so called flight to disconnect, lose, which gives employees the right to ignore unreasonable work related calls and emails after office hours. that it's really hard to switch off as it is. so having these laws coming to place that, you know, we, we, we really do disconnect is really important, especially like in my life when i have external clients who need to get ahold of me because we don't always have the same working hours. employee is will still be able to contact work is in an emergency and an employee can only refuse to respond when it's reasonable to do so. defining reasonable will be up to a strategy as industrial regulation. we don't know what will be judged to be raised . the pull in terms of both employer and employee rights. that's why we think this is going to end up not just in the federal work commission, but probably in the course at various times as this,

this on pulse australians worked on average 281 hours of unpaid a good time last year was the equivalent of moving $88000000000.00. australia joins around 2 dozen countries, mostly in europe and latin america, which have similar rules. a little replies to medium and large size companies. small ascends with few and 15 employees will be copied from august next year. but selma, skeptical about whether the new little will work. i think it's an excellent idea. i hope it catches on. i thought of the catch on in our industry to tell the truth. we are professionals well paid are expected to deliver. and uh, we fee. we often live in 24 hours at 24 hours a day. if you have 2 smartphones and other electronic devices make it difficult for many employees to disconnect from work. and since the cubic 19 pandemic, the lines between work and home life had become increasingly plug and we saved. and

you know, we'll give them the confidence to call balance of better what life balance victoria guides and b i, which is a risk accounting. the cost as well. journey is now from melbourne in australia is ashley korean. and that'd be his chief economist at geographical. that's a global city planning consultants that you, thanks very much for joining us. why is this training of doing this? so i think the classes for this legislation has to be taking the time with what's going on. it has very kindly said it has a fairly high levels of on people the time we're the combination on average. the sharing workers would be an additional 5.4 hours a week, not paid over time and not as much time to minutes. ok, so that's a full days work for free. and then when you take a look what's going on around the world, the straight ahead of the miles, the highest levels of a very long hours is the 5 year old. and you see is more than 50 hours

a week. is it a stray? looking these very long warehouse higher the average of uh, 10 percent seeing and possibly only see much higher its comprising peers. uh kinda . i know a way it sits around to the full uh to the falls. so really, it's an attempt to mitigate some of these items back in dallas is in low cost. well, because that may work long hours, but strangely, it has pretty low productivity. critics say that this is just only going to exacerbate that by how struct. it's going to raise a clue. uh at one level. at another level, there's several studies done at the individual level slomo that's i did find that with was not only and by leads, right. to disconnect goals, but a firm it and also say it's ok with work and my feelings opponent within yeah. management and culture employees uh, less likely to but now most likely use the highest it's good and most companies and

less likely to see sickly as well. obviously, mental health having to play that. so overall, the faxes, i sort of secondary policy and raising the level of productivity. a nother wording does leave quite a bit to interpretation. what might be considered a reasonable refusal to reply. i completely agree that he's a unclear at this point in time. how to interpret the phrase, the divine readable. i think this is the also the role of the economy service company. and i believe that in the next year or 2 both cases be bought before. you know that we're commissions an invitation to call to identify what those definitions me. in the meantime, i see this probably an opportunity my businesses to look at this phone call today. as very highlights, busy areas finally locked in with all the basic cap international migration stacks

of students coming in is going to be in the higher we'll get into the portal coming year. and i was actually, i am aware that it's almost 7 pm with us. so we're grateful that you decided to still do this interview, but will this ruling change your attitude to doing work outside of office hours? no, it's very unlikely to do the julie, the company. and so a lot of our, our determined by the fire globally. it's very unlikely that this low will change the way that i will certainly be working. well as i see conan that the, i'm sorry to have that, but thank you very much. indeed for taking the time to join us here on counting the cost it will take a look at dollars of solar panels in just a moment. but 1st his around up of what else is making the news. canada will impose

a 100 percent power if on imports of chinese made electric cause. following on from the us, the u is also slapped on terrorist west of nations, accuse china of subsidizing as eaves, which gives us call make us an on fire advantage. aging says the terrorist, violate, well trade organization rules. the ceo of mass us as his social media platform, was pressured by the, by an administration to sense the content around cobit 19 and less as the house of representatives, monk a bug said he regret. following to such requests, the white house defended the move, saying it was meant to encourage responsible actions to protect public health and safety and battle during the russian bone building i found the c e. o. of the messaging up telegram has been placed on a formal investigation. the role of is now banned from leaving front as part of an inquiry into cyber crime, including drug trafficking on child sexual abuse. telegram says it abides by e laws and is content motivation is with in industry standards on the planet.

second, vice use natural results behind water fund could seem to be running out. studies have shown demand for sams mining tripled over the past 2 decades, reaching 50000000000 tons. yeah, we're moving the material from river bed seas and oceans is happening at a rate foster and it can be renewed un bones. it's having a huge impact on the environment. now how does it isn't garza have been finding creative ways to stay connected? also, we all type of 7th attacks as well, cause whole supplies of electricity. so solar panels and now widely used, but vast option poses all the challenges as abraham l kelly and also city reports. as you can see, i'm here stand the midst of the solar panels after a long periods of electricity out as you do, the ongoing is right in the war on gaza. civilians are seeking these bowels as the

main i looked in at the energy source, but not cut off by out to her by that after months of electricity, outages were resorted to alternative energy, mostly solar panels that are almost broken up. we only get around 50 percent from the maybe broken, but they're a bit of a fresh air for us in a way of sorting out a problem. the energy that we get today is useful for a family of about 6 nan. luckily we come here to charge of veterans and mobile phones because there is no electricity. and because we can't afford to buy and, and sol solar panels, we need to charge our battery so we can have lights during the nice. well, i is, i'm on the coast before the price was $800.00 shekels or about $200.00 for one pen, i total, but now the price can be up to $10.00 times higher. the people don't have the money and the people nowadays look for the cheapest price because cash is not available of the pedals that we have now are usually going was sold by the owners of a toyed houses and buildings. the sold everything the good after the tax to buy

food and water for the family. no one has income in the street vehicle and make a burden. made it difficult for many families off for upstanding solar systems. and we can't even afford them yet. and then also be, is it ongoing valuable, spare parts and pieces that guides the strip. so families are forced to go to low voltage electricity points to charge their batteries for light lights. solar panels are providing another window of relief for disparate guidance. offered the ongoing, valuable fuel entry so that so that guides of sol, electricity, distribution company and the gaza strip it. but i am a how do you mean, how does the northern gaza house by and this is also for this week, but remember, get in touch with us on x, e is the hash tag h a c t c. when you do or drop is an e mail counting the cost of out there, adult net is address. about the more for you online at al jazeera dot com slash

ctc. that'll take you straight to a page which has individual reports, links and anti episodes for you to catch up on. that's it for this edition of counting the cost. i'm nora kyle's in the whole team here. thanks for joining us. the news announces era is next. the illusion of anti senses with opposition to design is a cynical and it is harmful, a dangerous conflation between the persecution of a people in the criticism of the states is echoing across the world news rooms and to send me keys in the hatred of jews. because the country is honest and is not about jewels, it's about teacher and we need to talk about design isn't listening. close special on of just the latest news everywhere there is ongoing indiscriminate bombing on

palestinians here say that's even know that's kinda risk in going with detailed coverage. israel has declared a 48 hour space of emergency while as well as that is, forces are in their highest readiness from the heart of the story. there's a view state of pot and come on. those kind of thing is there have been living here in the hospital for more than 11 months, and now they do not know where to go. say, afraid, encouraged, save their religion was the fee that you might be left behind. delving into the dark side to reveal how tuesday calls and still fear to exploit and manipulate to journey powerful force featuring 1st time testimonies from those with skate their narratives and the lessons that should be here. the right person in charge of an insane script. the script becomes believable. a fucking lips made the end of fear on a jersey to us. a call was of interest to people around the world. this has been going

on for a number of our seniors and did a report to an international perspective to try to explain to global audience. how is this impacts the like? this is an important part of the world and how to do this very good at bringing the news to the world from here. the are these ready on the steps of attacks on gaza off the apostle pausing, fighting for pony as vaccinations. at least $43.00 palestinians of tu tuesday the cherry johnston. this is out to 0 a lot from also on the program, the intense fighting in the city of jeanine and occupies westbank us. it's very operation enters a.