it's an amazing thing when you show generosity of spirit to someone. and you want people to be saved and to have a better life, then you don't stop. the idea that we have saved five million people's lives, it's overwhelming. it's everything.

dani: good morning, everyone and welcome to "bloomberg daybreak: europe." i am dani burger in london. the fed is set to hold rates for the first time in 15 months as inflation continues to cool. treasury yields take -- lower while asia stocks rise. the boe may need to hike after the jobs data. governor andrew bailey concedes inflation is taking longer than expected to slow. donald trump urges us to cater's to drop the charges against him after plead not guilty 237 counts pertaining to classified government documents. happy fed day, everyone. we are engaged in the pre-fomc shuffle including yesterday. the front end of the u.s. curve getting short. cpi is starting to come in. inflation growth is starting to be rain and but as andrew brenner puts it, the hawks want to punish powell. will it work for the bond

vigilantes? will they get a hawkish hold from powell today? let me show you the action yesterday. five year yields topping 4% and are continuing to come back in this morning. may be the drama is over until we get the fed decision. keep in mind, a lot the front and move was dictated by what happened in the u.k.. i want to show you the guilt yield move on the front end. we moved 25 basis point hike yesterday. over the past two days it is 26 basis points after hot u.k. did it. andrew bailey says inflation is not coming in as fast as we wanted to. a quick roundup of what else is happening in markets. not a lot of action. we are sitting on her hands waiting for the fed decision. dollar unchanged against the euro. i did mean to put oil in there but castro see futures are moving higher.

s&p 500 futures see little change. a new high for the air. nvidia now $1 trillion in market cap. congrats everyone. the nikkei is hitting a new multi-decade hi. those gains continue. good news from warren buffett. a kick started this rally. let's get to our top stories and reporters from around the world. a lot of it is about the fed. jill desis and valerie tytel covering that for us. bill faries also joins us for the latest on trump cooling inflation may have sealed the deal for the fed. it may deposit 50 month hiking cycle and assess what needs be done next. let's go over to jill in hong kong. at 4%, inflation is still too high and not at the 2% target. does this mean the fed will start raising rates again? how can they justify that they are going deposit this time? jill: it is ultimately the

question, and depending on what happens now, we will have to see whether or not jay powell can justify that when he talks to everybody tomorrow. ultimately, yes, the 4% print, year on your figure, that is still significant cooling off. it is the lowest since march 2021 and it does indicate price pressures are alleviating somewhat. we look at the underlying figure, shelter prices, core cpi still sticky, what the fed ultimately needed was some kind of reinforcement of the building consensus that they will pause right now even if it is a hawkish pause as is the baked in consensus right now. what the fed needs is if they are going deposit right now, they still want to keep the door open for whatever the decision may be is the coming months. whether that is continued posits, whether they need to preserve that room to raise rates again, ultimately it is a really tricky situation for the

fed right now. markets are going to be looking at what powell says tomorrow and how exactly he the decisions as we get closer here and what that could mean and look into july and onward. dani: if we are going to see the cpi drop in june it will make it hard for the fed to explain to the public why they want to hike again. joe, thank you so much for helping us cover the important day. jill desis there. equity market is in line with the cpi print. the s&p ended solidly in the green yesterday but the treasury market is a different story. yields jumped as the expectation for fed because later in the year were priced out. let's get over to valerie tytel, our markets reporter on this. a strange day because it could have celebrated the end or nearing the end of the inflation upward trend. why were treasuries so rattled?

valerie: quite bizarre price action. you saw an initial relief rally in treasuries followed by quite a brutal fell off -- sell off. i was trying to piece together what was a narrative for this because it was jarring. one of the ideas could be the fact that perhaps the bond market is rejecting this idea of a fed pause saying we need more tightening. we're going to price it in any way. the other thing that could have been saying is if the fed is going to pause, i'm going to go ahead and price in the higher for longer and price out cuts later in the year. the price action was a brutal and why did the market choose yesterday to all of a sudden take the fed message higher for longer seriously? the third reason which i laughed at his maybe this is just what a bond bear market looks like we have not had one for nearly 40 years. maybe this price action is

something we should just get used to, seeing the yields shoot higher like this. dani: will -- with all that being said, in today's decision, what will we be looking out for? what is the thing to either confirm or make us reprice everything again? valerie: how it seems like a positive almost certain and it will all be about the dot and short-term guidance that powell leaves us with. if you look at where the dots were in march, if they repeat the same dots, it assumes no more hikes. but we could actually end up seeing is the dots ship higher, perhaps showing there is one more hike in the cards are may be the hawkish surprise could be to show there could be two more hikes left in the cards this year. the other risk as we see the dispersion widen. we know there has been a lot battling at the fed between the hawks and doves last month. it is the first time we have seen that in the cycle. the last thing i want to watch out for is maybe the 2024 that,

the dots that show the terminal rate at the end of next year. those could shift higher as well. if they would do communicate the higher for longer message but don't want to communicate that terminal rate is higher, that could be the way they do it's. dani: all about the dots. valerie tytel there. elsewhere in the u.s., former president donald trump has pled not guilty to miami courtroom federal charges he mishandled state secrets. let's get over to bill faries on this. what do we know about the timeline and the ultimate question how this affects the presidential race? bill: welcome on the timeline is up in the air for right now. i think there going to be a lot of pretrial motions to have some of the evidence in the case dismissed or blocked or even have it made public in terms of the classified information. all of that is going to drag this out likely well into 2024 and into what should be an

active presidential primary season with donald trump still leading. in terms of the politics, the president has maintained his core base of supporters throughout all this. he still holds from the latest goals 25-30 point plus lead over his nearest competitors. you start to see little bit of criticism from some of the republicans including key centers, republican senators and people who are going to be running against her president trump in the primaries including nikki haley and south carolina senator tim scott. they both have started to do a little more open criticism of the president behavior while still trying to keep some of his supporters on their side. right now, the president has used this so far as he does a lots of his legal setbacks as an opportunity to fund raise for his campaign and try to rally his supporters. i think we can expect that to continue. dani: thank you very much for

that. that is bloomberg's bill faries. elsewhere in geopolitics, u.s. secretary of state and's name blinken and china's foreman -- for mr. qin gang spoke on a call tuesday. they discussed the importance of communication. chinese foreign minister readout is certainly different. gang urging the u.s. to stop hurting china interests in the call is the name of competition and made it clear on chinese core concerns including taiwan and asked the u.s. to stop interfering in their internal affairs. that is a statement from the chinese foreign ministry. coming up, we will turn the conversation to europe because the biggest startup in tech event kicks off today. we will talk to the founder of the of attack maurice leavy. that is next. this is bloomberg. ♪

dani: welcome back to "bloomberg daybreak: europe." vivatech, europe's largest startup and tech event kicks off today. one of the hot topics as discussed at the conference is artificial intelligence. let's get over to paris with bloomberg's benewah.

the big headliner is going to be elon musk. we are expecting him there this week. what are we expecting from the twitter and tesla boss? >> yet, he is coming on friday and it will be quite a show obviously as he is always carefully listened to. there will be a big venue of 4000 people, a concert hall and really what people are expecting is maybe investments in france from the tesla boss because he has been holding talks with the french president and finance ministers and they said there were ongoing talks. we are expecting a possible announcement on this, although nothing is shown yet. the fact that he is the twitter ceo and obviously the head of twitter, it will be interesting because vivatech is organized by one the biggest add companies in the world. you will talk to maurice levy next and also the lvmh media

branch, one of the biggest advertisers in the world. elon musk is trying ring back business to twitter in terms of ads. that will be interesting to hear him talk about this. dani: that's it what we call -- that is what we call ats. it is not all elon. we have the big event, the biggest of europe. what is going to be the tone over the next three days? it is an interesting time for tech. there is a, job cuts. what are you expecting to hear? benoit: obviously, generative ai will be one of the big topics this year. the french president emmanuel macron is going to speak today and unveil france's ai plan and generative ai specifically. people are going to wait to see what he says on regulation with the eu's ai act discussed as

well. this tension between innovation and regulation and europe wants to have the biggest ai startups and also wants to regulate this field. that is certainly going to be important and then there is this environment, the funding environment which is really tough. a lot of startups and founders will come this week. it is 100,000 people that are expected so lots of talks about this and maybe paris versus london tension as well. this week is also the billion-dollar tech week and vivatech has grown to become a bigger event with they guess. people from london are coming over as well this week in paris. benoit berthelotbenoit berthelot certainly, paris hopes to attract a lot of investors post-brexit in this kind of war for talent and funding between

the two european capitals. dani: that is unfortunate that you people from london coming over there but yes, it is london tech week but london tech week does not have elon musk dared the funding environment such an interesting point. is this a chance at vivatech a will there be there? is this a chance to get funding? what is the purpose if you are a startup company coming to this event? benoit: certainly. everyone is coming. a lot of vcs are coming over to meet with startups and funders. there are lots of these networking events, side events that sometimes we note the most important events at conferences at. certainly for a big company, they are all having a booth with a lot of startups incubated and

displaying their technology. a lot is shown at the conference but also it is for start off a time to say we have raised the amount of money and we are out there and get to know us. a big french ai start off -- start up announced it 100 million round yesterday so it will be the talk of vivatech today. dani: really looking forward to the rest of your coverage. that is bloomberg's benoit berthelot. joining us now is maurice levy, the founder of vivatech. thank you for taking the time out of your morning and busy rest of your week. we were talking about the fact that this is happening at the same time as london tech. i want to get your take on the battle between the two cities.

as paris going to be reigning supreme as the tech hub of europe? maurice: i believe paris will become the largest in the world, not only europe but the world. we have already more visitors than the ces and i think paris will be dominant in that field. the problem is not to be the dominant force. we think it is extremely important that all the cities of the world are pushing for more innovation at ai as well as all the innovation become core to the discussion that is happening in the world. europe is lagging behind the u.s. and china, and it's extremely important that we join forces. that is the reason why the founders for this form -- forum

is in london tomorrow evening and they will take the train to come to paris. we will be joining forces and working together. most of the people who are part of the founders forum in london will be able to participate with the discussion that we will have elon musk on friday afternoon. dani: so, one way where europe is ahead when it comes to tech is certainly regulation. there is the google antitrust concerns. there is talks of ai. maurice, can you have both innovation and heavy regulation at the same time? can they coexist? maurice: i think that the u.s. to be schematic are moving very fast and innovation. why europe is probably

championing regulation. i think the regulation is necessary but we should move first to innovation and second to regulation. we need regulation and very strong -- i am a very strong supporter of the regulation from the eu, but we should first think about investing in innovation, helping startups to build new systems, new solutions , before going to regulation. dani: are you concerned we might have sort of a winter for startups at this moment think about vcs having a liquidity problem, the overall economic environment, job losses for tech? how difficult is it right now to foster a startup environment? maurice: winter started already at the end of last year, and since the end of last year, we see that the pipeline of financing has dried up.

it will be little bit more difficult than what we have seen at the time where interest rates were flat and there was zero interest rates. it is more difficult today with the level of interest rates, but i'm quite confident and i think that what we are seeing is a progressive return, and the most freezing time has already passed. we are seeing ring humming back and by the way, it will be quite hot today in paris. probably it will help d freezing the investment. we will have more than 2000 investors, something like 2300. we will have 2400 startups presenting, and respect to have

more than 10,000 startup coming to paris and presenting for pitching the investors. it will be a very busy week, and most important topic on innovation will be ai. what we are already seeing is a lot of people who are registering to present their solution on ai. i do hope -- dani: marise, it is also a big task to be presenting when elon musk is going to be are sending right alongside you. -- presenting right alongside you. elon musk has been in tech for a long time but this is a new front in twitter, an advertising business. you are still the chair of publicist. do you have any advice for mr. elon musk? maurice: i think there are a lot of questions that people will be able to put elon musk. it will be extreme interesting

to see how this man who is one of the most innovative and at the same time one of the most provocative entrepreneurs in the field of tech and innovation will react to some of those questions. so, we are expecting a very interesting conversation. he is very direct. he does not hide his thoughts, and he can speak in a very provocative way, which will be i think extreme interesting. if the conversation is good, i think i will be able to apply for being a journalist. dani: [laughter] maurice, just don't come for my job, all right? in this economy and insecurity. thank you so much for spending time with us this morning. enjoy the rest of vivatech.

that is maurice levy, the founder of vivatech. don't miss our axles of interview with vindman company -- simon ireland's enterprise minister at 6:30 a.m. london time. this is bloomberg. ♪

dani: we have a new entrant into the $1 trillion market cap club. it is nvidia. yesterday closing above that $1 trillion market. it has been quite the run-up, but the thing is, if you have missed the nvidia rally in the run-up and not just this but big tech it's in general, how do you play catch up? it does feel near impossible unless you want to keep riding the wave and that is what we saw bank of america's latest fund manager survey. fund managers are broadly underweight stocks.

we see that from their sentiment and long cash position. they are still exclusively long tech stocks. it is the most crowded trade according to that survey with the strongest conviction in three years. another shift which is telling of the times, a majority of respondents, 59% to be exact think the fed has more hikes to come. the previous survey last month, the majority of them thought the fed was done. what are they saying? long tech and more hikes to come, two ideas which might be in opposition to each other. nonetheless, we see trades this week there'd coming up, it is back at vivatech and we will speak exclusively to simon coveney.

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dani: good morning. welcome back to bloomberg daybreak. i'm dani burger. the fed to rise rates as inflation continues to cool. asia stocks rise. the bank of english may need to hike hire of the uk job data. inflation is take longer than expected to slow. plus, donald trump urges prosecutors to drop charges after bleed pleading not guilty to 37 counts pertaining to classified government documents. happy fed day, everybody. positioning happening not too much of it. really the drama was yesterday. this confounding inflation report but still bond markets were under so much pain. the five-year surge did yield.

that's the chart you're looking at this morning. there's some repositioning especially if the fed is going to pause. maybe they just hold higher and we need to adjust for that. we continue to get job cuts in the market. let me show you ha eats happening this morning. we're sitting. we're waiting. we need to know what happens for the fed decision before we put any positions. i just want to point out we did see s&p did flip into the negative. barely, .4%. another day of really big tech gains. speaking of tech. our tech industry has been hit by a significant number of job losses across the sector. so how can dublin continue to attract business and talents? my next guest will be making his guest at viva tech, the largest tech event which kicks off in paris today. joining us is simon coveney, ireland's primes for enterprise

trade and employment. i don't want to put words in your mouth. maybe i just did a little bit. but what is the pitch you will be making at vivatech for ireland to be this tech in europe. simon: this is the largest tech and startup conference in europe this year. there will be close to 100,000 people here this week. there will be, you know, close to 3,000 exhibiters and there will be a huge amount of discussion around technology and how it drives the -- the european economy into the future. ireland is in the middle of that. we've had the strongest economy. we have full employment right now. and the irish economy has been driven by new startups and technology. and that is -- that is getting stronger in the irish economy rather than anything else. of course, ireland has been impacted by the global decision of global tech multinationals to reduce head count this year

which is taking back some of the growth last year. but there are far more jobs being created in ireland at the moment than there are last including in the tech sector. that we have in paris this year. dani: have you had conversations with some of these big tech players who have their big headquarters in ireland about job cuts? are you confident that the worst of that is over? simon: oh, yeah, we talk to them all the time. i've been both on the east coast and west coast of the u.s. over the last number of months speaking to -- to c.e.o.'s and c.f.o.'s of many of the large tech company who is have a huge presence in ireland. ireland has become in many ways a platform for international growth for -- for large tech multi-nationals. and you know, all of the top 10 tech companies across the

western world have a big presence across the world. in most cases they have the european headquarters and or mia headquarters like in dublin and cork and norway. they're very happy there they see it as a competitive place to do business. they see it as a place where they can get top talent in terms of the tech world. they see it as a place where international skills want to come and be located and live and work. and that's a formula that's been very, very successful for the irish economy which we want to continue. when there are global decisions being made by google and amazon and twitter and metta to reduce their global head count, that has some impact on ireland. but the message is very, very positive and very strong. they want to maintain and in the future grow their presence in ireland rather than anything else even though we've seen some setbacks this year. dani: right.

so as we're looking at setbacks, as we're sort of waiting as you say as they're promising the growth will come, what do you do for attracting foreign direct investment? simon: we continue to make sure that ireland's proposition remains competitive. ireland's pitch if you like for foreign direct investment is very clear. we have a very stable political environment in ireland. we have a lot of certainty in terms of tax policy in ireland. and how that sinks in with global tax policy now. but most importantly, it's the skills you get in ireland. you know, we have coming out of irish universities now, probably the highest level of stem based degrees. so we have a conveyor belt of talent coming out of irish universities which is proven to be very, very successful for us. it's why so many companies continue to grow out of ireland

and also locate in ireland. last year alone, we had 100 new multi-nationals come to ireland for the first time. we had 240 new multi-national announcements in terms of growth. some from existing companies that have a presence in ireland. and as i say 100 new companies. >> right. simon: and we've seen significant growth from the jobs perspective on the back of that. there are now 300,000 people employed in the irish company. don't forget they employ 2.6 million people which is the highest ever. but the -- but ireland is probably the most globalized economy now in europe. dani: being a globalized -- >> also by a very vibrant indigenous startup community -- dani: i just want to jump in here, simon. if you are global then you succumb to the pressures of the

global economy. the global economy has slowed. there are questions whether we can avoid a recession. do you think ireland can avoid a recession if you are subject to the wins of the tech company and the overall trade environment? simon: well, i mean, multi-nationals aren't solely driven by tech. it's medical and big pharma. but tech is a big part of that. and you know, we focus very closely on insuring that ireland is the most competitive destination in europe for technology companies to locate and to build international business. that's been a very successful form will and even when we're seeing some head winds in the tech world globally, we're still seeing a lot of growth in ireland across technology companies. so, you know, the -- the -- the reduction in head count with some of the big names have announced has meant that that's

freed up talent for -- for irish based tech companies that are growing and expanding. and that is why, you know, within the irish economy right now, unemployment is 3.8%, 3.9%. that's effectively full employment. we have quite a number of vacancies. also less perhaps than six months ago. but it's still a very, very vibrant community in ireland and we're working hard to keep it that way. >> simon, perhaps the elephant in the room is that it's happening as the same time as london tech. you are in paris now. given your familiarity with startups with the tech world, which cities do you see more hospitallable and an environment to grow and foster tech startups? simon: well, that's a slightly pointed question asking me to take sides between london and paris. but look, to be honest, europe

needs both cities thriving. we need both countries, the uk and france, ambitious and giving leadership globally so that, you know, europe is competing with the u.s. and with china and other parts of the world in terms of progressing startups and of course driving technology and innovation across the tech space. and you know, ireland is very integrated into the uk economy. but we're part of the uk single market. i think what's happening in viva tech here this week is a real focus on how the european union collectively can influence the global tech sector by creating more startups across the european union by making sure that we have a single market for digital services that functions that makes sure that we have the balance right between regulation and innovation in areas like,

you know, artificial intelligence and how that -- that a.i. sector moved forward. how do we on the one hand protect consumers and their and they privacy while at the same time making sure that we have an innovative economy that's growing on the basis of new technology and research? i think the european union is going to become more business-friendly in terms of startups. island wants to be at the center of that. >> you know, i love that answer. it's like you're a parent urging calm between their children who are in a bit of a fight at the moment. [laughter] simon -- simon: that's a place that ireland is used to being in. dani: the parent of europe. simon coveney, the minister for enterprise trade and employment. we're going to be speaking with the uae's artificial

intelligence and digital economy omar sultan al olama about the country's a.i. drive. but first coming up, could there be a common currency for africa? we're going to discuss that out of get away africa forum in morocco next. this is bloomberg.

♪ >> this cost of constraint to trade in africa. so we don't have a common currency yet. there is an objective to get a currency. but in the meantime, we have introduced a tool that is a step in that direction. and that is payments for trade in a single based on a single platform for trade in africa.

dani: that was secretary general of the african continental free trade area that discussion on bringing a common currency for african nations has been a key talking point at the bloomberg new economy get away africa forum. let's go to jen. get more into this proposal. how likely is it? jen: yeah, i mean, dani, they have been working on the sata for about 13 years. what i think he's realized if the past few years is the need for a common currency or for a lot of the nations that are going to be doing cross border payments to be a able to have their own currency and work with local currencies. a lot of that is sort of derived from the fact that at the current present time a lot of these countries are reliant on the u.s. dollar and currency convertibility for a lot of

these nations has in the past reached up to $5 billion. and as we know, a lot of the nations across africa and talking about ghana, zet and zimbabwe's dollar is not doing well. what he was alluding to is that a lot of the negotiations are centered around how can all of these countries that are seeking to benefit from this trade block can benefit and not spend a lot of their money having to do a lot of the convertibility? they are talk at the need and the desire for something that could look like digital payments, potentially but something that is really key to what this implementation of the block is eventually going to be. >> you also had a conversation with billionaire andrew forrest. what did he say? jennifer: well, andrew as we know has a lot of business globally but he's been in north

africa over the past few days really seeking more opportunities for renewables. of course, we know andrew is a crusader of renewables and green hydrogen. he just returned from moratainia just before coming to merakesh. he was talk about other countrys in the continent who were approaching fordascu for their own ambitions in their renewable space. take a listen to what he had to say yesterday. >> for those companies and those government who are not listening morally to the people of north africa who know this is their shot, this is their time to be supported, this should be their projects, let's get in blind africa. let's give this beautiful continent its shot and it's green. >> so andrew, they're speaking specifically about north africa

who he was saying that has a lot of potential. he said egypt, morocco could be leaders in the movement toward green energy and also towards powering other parts of the world. and so that was just part of what he told us there. and as we know, he's been championing this for a long time and thinks this could be an opportunity for africa and especially north africa to be a leader in the space. dani: that's bloomberg's jennifer abizajia. china is the biggest buyer of crude oil. demand on the ground suggests a far more muted recovery. goldman saw return to $100 a barrel have been lowering their outlook. let's go to steven. what signs might be indicating that the oil growth is starting

to stall? steven: there was an uptick in traffic when covid zero policy started to be removed. be we're not really seeing that kind of ramp back up as the way we were expecting. and so that's starting to fall. the second one being trucks on the highway on the road are also not returning to 2022 levels. of course, after the covid restrictions were removed, there was a sharp drop in the am of trucks on the road because of covid cases increased across the country. it hasn't recovered to last year's levels indicating there isn't much demand there. oil storage in china has jumped to the highest level in about two years. that's due in part to maintenance season for refineries. but it shows that the giant buying of crude oil earlier this

year and the expectation that the downstream demand would pick up in china isn't materializing which is leaving more oil and inventories and that might desuede buyers from purchasing shipments going forward. dani: the conversation around the u.s. and their strategic reserves they're not going to refill it. but now they are. they are refilling their oil reserves. stephen, what dynamic does this add into the oil market? stephen: any time the u.s. is buying, that is going to tighten oil. and that will lead to a -- one of the bullish factors in the mark. no, they're going to buy 13 million barrels to -- to refill the inventories over this year. and that's -- you know, sorry 12 million barrel and that's something that isn't huge in the grand scheme of things because they basically drew down over 150 million barrel last year. but still when you look at that

number and when you look at what they're buying they're looking to buy sour crude. it's in high demand because of cuts from opec plus. that's going to tighten things -- that could lead to higher gasoline prices in the u.s. that could lead to higher prices for w.t.i. you know, there are many factors to consider. but now that the u.s. is buying, it could tighten things. will they buy more after that? it will depend on where prices stand. it is unclear. but this looks to be their first sort of push into that region. dani: thank you so much. that's bloomberg's stephen stapcynski. and we'll talk about the uk next. this is bloomberg.

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>> i still thing the rise is going down. but it's taking a lot longer than we expected. again, we introduced an explicit, you know, persistence of food inflation into the forecast. dani: inflation taking a lot longer than expected to come down. probably the understatement of the statement from bank of english governor andrew bailey. he was speaking to the house of lords off the back of a very strong jobs market. and on that, the governor warns that the uk jobs market is very tight after that data. look at what happened to the two-year yield jumping 26 basis points yesterday. it's exceeded the liz trust era high. so let's get to our uk correspondent lizy burden. lizy, a crazy day yesterday especially for a country that doesn't have a central bank decision this week. so in terms of where the b.o.e.

goes from after this jobs data where does it go now? liz: this has changed the conversation. you saw bloomberg's economies. and it sees another one in august as well. trade is changing that. they see actually a 1-3 chance that rates peak at 6%. way beyond the threshold that the bank of england pointed to. you mentioned guilt yield's, really the irony is that the bank of england was first to the major central banks. now it looks like it's going to be the last to leave. and also maybe the last to pivot as well after the fed and the e.c.b. yesterday, you say andrew bailey there talking in parliament about what kind of lamenting how slowly the jobs market is cooling. you had a raft of other b.o.e. speakers. you heard from megan green who is joining the committee on july

the 5th. she echoed the comments about the need to lean against high inflation. she didn't exactly say what she wanted to do but you've got that hawkish term. we heard from swaty dingra emphasizing the monetarily mechanism in transition and how you need wait to see the effects of previous hikes. in terms of where it leads the decision last week it seems to be a less a conversation about whether or not they will hide. the inflation dates that we get next week is going to be crucial to that. dani: i find the conversation strange when it comes to the uk just because the transmission of mortgages. we are going to see uk g.d.p. figures out today. what are you looking out for. >> all in its time. >> so very soon? >> yes.

it speaks to the resilience to the economy. it raised from north .2% growth. and you can see that in the latest p.m.i. data. again, above the 50% -- the 50 line that separates growth from contractions. dani: right. ok. lizy, thank you so much. you thought you were going to get a break this week because we didn't have the b.o.e. decision. the, mass had something else in store for you. that's it for bloomberg day europe. we are waiting to see what happens with the fed decision and honestly what happens when uk bond markets open up in about two hours time or one hour time. up next, it's bloomberg markets europe. this is bloomberg

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