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bank of england decision around the corner. a former bank of england policy maker just around the corner, too. this is bloomberg. ♪ >> there is some stress. there is that healthy skepticism about history labels or sustainable labels. that is one of the reasons we are having this relentless focus on zero. in the end, we cannot stabilize the climate unless we get to net zero. emissions are either going up or down. if they are going down, are they anchored in the science? francine: should it be compulsory? should we not have regulators saying, this is the new definition? >> great question. six years ago, you and i were in paris. we talked about this. now it is moving to become mandatory. jonathan: all-time highs on the equity market. record high after record high. from new york city, good morning . a five date winning streak on the s&p 500. up 0.1%. up 0.4%. futures just keep pushing higher. the longest winning streak on the nasdaq of that year so far. jonathan: let us get to the bond market. 26 basis points, down about three basis
bank of england decision around the corner. a former bank of england policy maker just around the corner, too. this is bloomberg. ♪ >> there is some stress. there is that healthy skepticism about history labels or sustainable labels. that is one of the reasons we are having this relentless focus on zero. in the end, we cannot stabilize the climate unless we get to net zero. emissions are either going up or down. if they are going down, are they anchored in the science? francine: should...
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Nov 4, 2021
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we will hear from the bank of england today. a tale of two banks.se expects a loss next quarter to capital has been a year to forget. socgen in france tops estimates as equities trading rebounds.
we will hear from the bank of england today. a tale of two banks.se expects a loss next quarter to capital has been a year to forget. socgen in france tops estimates as equities trading rebounds.
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Nov 4, 2021
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she spent nine years at the bank of england. did the bank of england make a mistake today? i don't think it was a mistake. it was clearly a decision that was on a knife edge. i think what the bank of england had been doing is trying to balance, on the one hand, huge inflationary pressures and supply chains at the moment. if you talk to businesses, there are supply shortages across different sectors, particularly in vital components like semiconductors, and we are also seeing rising energy prices. but on the other hand, we have seen some softening in demand recently. consumer confidence has come back a bit. the pandemic is still very much with us, even if we hope to move beyond it, and we are learning to live with the virus. we saw the bank put out somewhat softer growth expectations. so i think what we do know is that interest rates will go up at some point over the course of this year, but i think what the bank of england decided is that it was better to wait until they had a bit more information about what is happening in particular around the labor market, with the endin
she spent nine years at the bank of england. did the bank of england make a mistake today? i don't think it was a mistake. it was clearly a decision that was on a knife edge. i think what the bank of england had been doing is trying to balance, on the one hand, huge inflationary pressures and supply chains at the moment. if you talk to businesses, there are supply shortages across different sectors, particularly in vital components like semiconductors, and we are also seeing rising energy...
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Nov 5, 2021
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was this communication -- miscommunication ultimately by the bank of england governor? he bank surprised markets by keeping interest rates on hold at 0.1%. if you think of all the ramping up of expectations in the run-up to the decision, part of it was triggered by all of these hawkish hints dropped by the governor himself. as you heard in that interview, he insists that he never said the bank would act in november, only that it must act if inflation expectations got out of control. given that pricing meant that some element of tightening would happen anyway, you have to ask whether the accusation that he is a new and reliable is actually fair. tom: what rationale for keeping rates on hold? >> the mpc says there is only so much it can do about supply disruptions. it cannot manufacture semiconductor chips. it wants to wait for clearer data own of the labor market, which is what the fed said as well this week. to its credit, those are the same reasons that bloomberg economics gave for saying before the decision that a rate hike was never a done deal. >> are u.k. economy ed
was this communication -- miscommunication ultimately by the bank of england governor? he bank surprised markets by keeping interest rates on hold at 0.1%. if you think of all the ramping up of expectations in the run-up to the decision, part of it was triggered by all of these hawkish hints dropped by the governor himself. as you heard in that interview, he insists that he never said the bank would act in november, only that it must act if inflation expectations got out of control. given that...
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Nov 4, 2021
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i miss being in the room for the bank of england. good times. i thought you did a great time in front of the ecb in frankfurt. jonathan: that was colder. tom: and the difference is in london the lunches an hour and a half in frankfurt the lunches three howard. jonathan: in london they make you stand outside. you hit report on the bank of england and people would throw stuff at you. good times. it is not that rough. emily rowland joins me in about 20 units from john hancock. why she thinks you're by should be towards america. from new york, this is bloomberg. ritika: speaker nancy pelosi is pushing the house towards a vote on president biden's economic agenda but a few key issues are still unresolved such as family leave, immigration, and rolling back limits to state and local tax deductions. the measure does not have the full support of senate democrats. the u.k. has rounded up about 20 nations to stop funding foreign fossil fuel products. the deal has a couple of key holdouts. the statement will be unveiled today at the u.n. climate toxin glasc
i miss being in the room for the bank of england. good times. i thought you did a great time in front of the ecb in frankfurt. jonathan: that was colder. tom: and the difference is in london the lunches an hour and a half in frankfurt the lunches three howard. jonathan: in london they make you stand outside. you hit report on the bank of england and people would throw stuff at you. good times. it is not that rough. emily rowland joins me in about 20 units from john hancock. why she thinks...
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Nov 5, 2021
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bond market paying so much attention to the bank of england? the bank of england seems to be all over the place at the moment . we heard from the governor today saying that he did not bottle it yesterday. we heard from the deputy governor talking about that we are going to have to see rate hikes in fairly short order. the message is confusing. why are we getting such a big reaction in the u.s. market from what is happening over here? michael: i think it is a combination of things, and not just the decision from the boe, but the timing this week. we have seen the major central banks who have reported this week suggest that they do believe inflation is going to come back down. you had the british bond market repricing to the idea of a rate increase, and they had to take that out. the u.s. had done much the same. you are basically seeing people saying, well, central banks are not moving as quickly as we thought so maybe we've overdone it. taylor: thank you. supersmart, mike mckee taking us global. speaking of going global, the world health organiza
bond market paying so much attention to the bank of england? the bank of england seems to be all over the place at the moment . we heard from the governor today saying that he did not bottle it yesterday. we heard from the deputy governor talking about that we are going to have to see rate hikes in fairly short order. the message is confusing. why are we getting such a big reaction in the u.s. market from what is happening over here? michael: i think it is a combination of things, and not just...
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Nov 4, 2021
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left about the bank of england because l the bank of england because andrew bailey, the governor, saidact in the act of rising energy prices and other prizes across the country. your thoughts on whether central bank might do today? it whether central bank might do toda ? , ., ~ today? it is a knife edge. it habited about _ today? it is a knife edge. it habited about 50-50. - today? it is a knife edge. it habited about 50-50. we | today? it is a knife edge. it - habited about 50-50. we think habited about 50—50. we think we will buy for a bit more time. we have another meeting in december and time. we have another meeting in decemberand in time. we have another meeting in december and in february, a bit more data on the end of the furlough scheme, and if we are still on furlough, this is protection scheme in the uk that protected jobs during the pandemic, have those people found jobs or are they still seeking jobs? a little more data is needed. it would be surprising if it didn't go by 15 basis points. again, not light financial conditions households by any scope, but markets are pricin
left about the bank of england because l the bank of england because andrew bailey, the governor, saidact in the act of rising energy prices and other prizes across the country. your thoughts on whether central bank might do today? it whether central bank might do toda ? , ., ~ today? it is a knife edge. it habited about _ today? it is a knife edge. it habited about 50-50. - today? it is a knife edge. it habited about 50-50. we | today? it is a knife edge. it - habited about 50-50. we think...
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Nov 17, 2021
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therefore the bank of england need to think ahead. to think ahead. do you think this u ward to think ahead. do you think this upward trend — to think ahead. do you think this upward trend in _ to think ahead. do you think this upward trend in inflation - to think ahead. do you think this upward trend in inflation is- to think ahead. do you think this upward trend in inflation is for i to think ahead. do you think this. upward trend in inflation is for the short—term, or is this something we will have to used to in the longer term? ~ , ., ., term? well, the short-term outlook is for even higher _ term? well, the short-term outlook is for even higher inflation _ term? well, the short-term outlook is for even higher inflation than - term? well, the short-term outlook is for even higher inflation than we | is for even higher inflation than we have got now, in my estimate between 5-6% have got now, in my estimate between 5—6% peak in inflation sometime in the first half of next year. some of the first half of next year. some of the tempora
therefore the bank of england need to think ahead. to think ahead. do you think this u ward to think ahead. do you think this upward trend — to think ahead. do you think this upward trend in _ to think ahead. do you think this upward trend in inflation - to think ahead. do you think this upward trend in inflation is- to think ahead. do you think this upward trend in inflation is for i to think ahead. do you think this. upward trend in inflation is for the short—term, or is this something...
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that is putting pressure on the bank of england to raise interest rates. ces rose 4.2% from a year ago. higher costs of restaurants and hotels lead the jump in prices. china's vice president is calling for the rest of the world to promote trade and investment liberalization. he also said china would contribute to an open world economy. he spoke at the bloomberg world economy forum inching up or. >> china cannot let up on its relationship with the world nor can the world develop without china. china will not waiver in its resolve. ritika: he says xi jinping and president biden have heard -- have reached important understandings in this week's virtual summit. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am ritika gupta. this is bloomberg. alix: alphabet recently hit the $2 trillion market cap. where will you get the next trillion dollars worth of growth? emily chang sat down with alphabet ceo sunder pichai and they talked about the aftermath of the facebook contro
that is putting pressure on the bank of england to raise interest rates. ces rose 4.2% from a year ago. higher costs of restaurants and hotels lead the jump in prices. china's vice president is calling for the rest of the world to promote trade and investment liberalization. he also said china would contribute to an open world economy. he spoke at the bloomberg world economy forum inching up or. >> china cannot let up on its relationship with the world nor can the world develop without...
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Nov 16, 2021
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one of the reasons the bank of england _ have eased. se of a market uncertainty surrounding the furlough _ market uncertainty surrounding the furlough and today's figures has provided — furlough and today's figures has provided some reassurance against that but— provided some reassurance against that but on— provided some reassurance against that but on the other hand, today's figures _ that but on the other hand, today's figures show we haven't seen particularly strong wage growth, which _ particularly strong wage growth, which would have justified raising rates _ which would have justified raising rates to— which would have justified raising rates to prevent a wage price spiral. — rates to prevent a wage price siral. �* ., rates to prevent a wage price siral. ~ . ., , rates to prevent a wage price siral. . . ., , _ spiral. average earnings rose by 4.996 spiral. average earnings rose by 4-9% over _ spiral. average earnings rose by 4.9% over the _ spiral. average earnings rose by 4.996 over the past _ spiral. average earnings rose by 4.9
one of the reasons the bank of england _ have eased. se of a market uncertainty surrounding the furlough _ market uncertainty surrounding the furlough and today's figures has provided — furlough and today's figures has provided some reassurance against that but— provided some reassurance against that but on— provided some reassurance against that but on the other hand, today's figures _ that but on the other hand, today's figures show we haven't seen particularly strong wage growth, which...
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Nov 11, 2021
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it is the quarterly numbers that the bank of england really cares about. they showed there is a significant slowdown from the second quarter when you had that rapid rebound from the winter lockdowns, i momentum slowed partly because of supply disruptions. remember, as you say, there's a risk of choking off the economic recovery to put the bank of england off hiking rates at its november meeting last week. these numbers are close to the bank of england's updated forecast. they will probably buttress market expectations of a rate hike soon, if not next month. the intention is to turn to the inflation outcomes next week. alix: that leads us to the next part of the story. as u.s. -- story, that u.s. inflation here is a harbinger for the euro area. we will turn to agnes belaisch, baring investment's chief european strategist, up next. european strategist, up next. alix: you're looking now at a live shot of arlington national cemetery, waiting for president biden and the first lady, coming to participate in the president to arm sources full honor wreathlaying ce
it is the quarterly numbers that the bank of england really cares about. they showed there is a significant slowdown from the second quarter when you had that rapid rebound from the winter lockdowns, i momentum slowed partly because of supply disruptions. remember, as you say, there's a risk of choking off the economic recovery to put the bank of england off hiking rates at its november meeting last week. these numbers are close to the bank of england's updated forecast. they will probably...
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nation for high-yield but a broader environment of markets we think how aggressive central banks make it with regard to inflation giving -- given the bank of england meeting. kathy: if you're worried central banks were going to fall behind the curve, a concern when we got the mixed information from the bank of england that you would see it statement and not flatten. i think what is happening is a, addition was off and b, overconfidence in the fed. i think that yields are too low across the curve relative to the pace of economic growth that we are expecting in 2022. i think the market reaction is not indicating some sort of concern that central banks are going to slowly or will go to slowly and let inflation really bubble up. jonathan: george, is that mission accomplished, less reaction in the market based on the payrolls report? george: you can make a very strong statement that what powell hasn't done his avoided the taper tantrum. he has been able to launch that tapering without rattling the market, a huge sign of success. combined with what he said of the last meeting highlighted his ability to finesse the markets to get things moving as it rela
nation for high-yield but a broader environment of markets we think how aggressive central banks make it with regard to inflation giving -- given the bank of england meeting. kathy: if you're worried central banks were going to fall behind the curve, a concern when we got the mixed information from the bank of england that you would see it statement and not flatten. i think what is happening is a, addition was off and b, overconfidence in the fed. i think that yields are too low across the...
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i can't say that without smiling given the moves of the bank in england over the last month and five ars. lisa: every time you mention it i think of lucy holding the football for charlie brown and pulling it out. jonathan: governor carney, the unreliable boyfriend, and may be bailey will follow suit. numbers out of air france. they flew 26,000 passengers during the week starting november 8 versus 13,200 the previous seven day period. these are u.s. bound passengers and of course travel reopens, and they get to double their traffic. numbers look good. tom: you saw with singapore opening up to india as well, but i look and matt miller was great , the germany data and austria is stunning. jonathan: they are not good. tom: it is not a visible story in america and it should be. jonathan: in the u.k., to be fully vaccinated you might need a booster. that seems to be the direction the british government are going and i'm wondering how quickly we will follow in the united states. tom: are the three of us totally distracted looking and the headlines? jonathan: just waiting. your echoed it -- e
i can't say that without smiling given the moves of the bank in england over the last month and five ars. lisa: every time you mention it i think of lucy holding the football for charlie brown and pulling it out. jonathan: governor carney, the unreliable boyfriend, and may be bailey will follow suit. numbers out of air france. they flew 26,000 passengers during the week starting november 8 versus 13,200 the previous seven day period. these are u.s. bound passengers and of course travel reopens,...
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a bank of england decision kicks off a global bond rally. the governor says it i
a bank of england decision kicks off a global bond rally. the governor says it i
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Nov 4, 2021
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bank of england next.omberg. ♪ >> i think the narrative on inflation is a little bit confused. >> you're on your comparisons are difficult to do because we are emerging from this extraordinary period. >> the second derivative is telling you perhaps the peak in inflation is over. >> our viewpoint is that it is a glass half-full environment. >> this is an economy that is still primed for growth. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone. the federal reserve yesterday, there was no dissent. at the bank of
bank of england next.omberg. ♪ >> i think the narrative on inflation is a little bit confused. >> you're on your comparisons are difficult to do because we are emerging from this extraordinary period. >> the second derivative is telling you perhaps the peak in inflation is over. >> our viewpoint is that it is a glass half-full environment. >> this is an economy that is still primed for growth. >> this is "bloomberg surveillance" with tom keene,...
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a federal reserve decision, an ecb decision, and an -- and a bank of england decision. s all going to come in the middle of december. how key are those two days for you? priya: important. but i don't think we are going to have that many answers. from the ecb, yes, they will talk about hikes being later. the fed, we don't think they are going to taper. i don't know if we will get very important meetings. where i think it is important is liquidity conditions have started to worsen. i think the markets could react a lot. i'm not sure we get that much more fundamental data from payrolls or from all of the central bank meetings. jonathan: zach, what about you? is that a key part of the year for you? is it too early to get any clarity, any vision on what 2022 looks like? zach: i think it is a huge part of the year, certainly for the outlook, but also in the near term. another thing flying under the radar is the debt ceiling episode comes back. secretary yellen said december 15 is the new axe date. that is the same day as the fed meeting. is it possible for the fed to accelerat
a federal reserve decision, an ecb decision, and an -- and a bank of england decision. s all going to come in the middle of december. how key are those two days for you? priya: important. but i don't think we are going to have that many answers. from the ecb, yes, they will talk about hikes being later. the fed, we don't think they are going to taper. i don't know if we will get very important meetings. where i think it is important is liquidity conditions have started to worsen. i think the...
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Nov 17, 2021
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print around 3.9% economists are expecting could be the straw that breaks the bank of england's back. in december. dani: certainly a lot of pressure mounting up for -- thank you so much for joining us. that's our u.k. economy reporter lizzi burden. let's get to the first word news with annabell jewelers in hong kong. >> hey, dani. ireland is reintroducing some covid restrictions as it grapples with rising hospitalizations. prime minister michael martin said people should work from home where possible and -- in cinemas and theater also require proof of vaccination a report says u.s. regulators could authorize boosters for all adults by the end of the week. in asia, fedex is said to be shutting its hong kong power base because of the city's coronavirus policies. u.k. prime minister boris johnson is proposing members of parliament should be banned from taking paid political consultancy work. this as he tries to draw a line in two weeks of damaging headlines for its ruling conservative party. the plan is a dramatic reversal from johnson's position when he boarded -- to block the suspensio
print around 3.9% economists are expecting could be the straw that breaks the bank of england's back. in december. dani: certainly a lot of pressure mounting up for -- thank you so much for joining us. that's our u.k. economy reporter lizzi burden. let's get to the first word news with annabell jewelers in hong kong. >> hey, dani. ireland is reintroducing some covid restrictions as it grapples with rising hospitalizations. prime minister michael martin said people should work from home...
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that's after the bank of england left interest rates at a record low, despite signalling for weeks thatse of soaring inflation. central banks are having to balance concerns about inflation with a need to support the economic recovery. on wednesday, us federal reserve chairjerome powell said he was in no hurry to raise borrowing costs. and european central bank chief christine lagarde told investors this week, euro rates were "very unlikely to rise" next year. here's what bank of england govenor andrew bailey had to say. this was a very close call, we have got much higher inflation than we would want to see. the causes of it, quite a few of them, are global, quite a few are to do with bottlenecks and the world economy affecting us. which actually, rising interest rates went directly salt ash thatis rates went directly salt ash that is the question — but the reason why i made this statement was because we have to keep a very close watch obviously on what could be the consequences of these price pressures on what could cause inflation to be more sustained and much more difficult. we are in
that's after the bank of england left interest rates at a record low, despite signalling for weeks thatse of soaring inflation. central banks are having to balance concerns about inflation with a need to support the economic recovery. on wednesday, us federal reserve chairjerome powell said he was in no hurry to raise borrowing costs. and european central bank chief christine lagarde told investors this week, euro rates were "very unlikely to rise" next year. here's what bank of...
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Nov 3, 2021
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but i have to say, there are major differences across central banks, and we know that the bank of englandpboc, they have all changed their path. but that doesn't necessarily mean that all of the central banks are going to be in the same direction. i think it is really important that we identify that there are differences amongst the central banks and the ecb, along with the bank of japan much further down the line. alix: i feel like it has been a while since we had central banks not moving in the same direction. how do you take advantage of that? seema: we have seen a bit of divergence across the year. it comes back down to it is still about the growth profile, so we do know that some central banks are going to be raising rates a little early, but essentially they are moving in kind of the same direction, just moving at different stages. so the key point becomes what is happening with earnings, and that is where the key story comes. for us, it may be a little bit different to the rest of the street. we do think a lot of opportunities are going to arise in emerging markets next year. we st
but i have to say, there are major differences across central banks, and we know that the bank of englandpboc, they have all changed their path. but that doesn't necessarily mean that all of the central banks are going to be in the same direction. i think it is really important that we identify that there are differences amongst the central banks and the ecb, along with the bank of japan much further down the line. alix: i feel like it has been a while since we had central banks not moving in...
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Nov 17, 2021
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the bank of england's aim is to keep inflation to around 2%. businesses. economists are debating how much of the surge in inflation can be blamed on the pandemic and how long it will last. coletta smith reports. it's lunchtime at nursery. and with 63 hungry mouths to feed the staff here have their hands full. paula has increased her hours recently to make sure she's getting enough to cover the bills at home. i'm getting more money in but then i'm paying it out forfuel, food. gas and electric has gone up again. gas and electricity. sarah has got 12—year—old twins so the weekly shop is getting to be more of a worry. where i tended to go because it offers rather than single prices because everything has gone up. it might only be 50p or 60p here, but at the end it all does mount up. today's inflation shows it shot up the highest point in decade. gas and electricity bills are the main cause of that rise along with diesel and petrol prices reaching record highs. just getting to and from work is eating up more of everyone's wages. i'm in a position wh
the bank of england's aim is to keep inflation to around 2%. businesses. economists are debating how much of the surge in inflation can be blamed on the pandemic and how long it will last. coletta smith reports. it's lunchtime at nursery. and with 63 hungry mouths to feed the staff here have their hands full. paula has increased her hours recently to make sure she's getting enough to cover the bills at home. i'm getting more money in but then i'm paying it out forfuel, food. gas and electric...
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Nov 11, 2021
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the risk is obviously of the bank of england _ year. r. the risk is obviously of the bank of england start raising - year. the risk is obviously of the l bank of england start raising rates to quickly and that could depress demand quite significantly at a time when the economy is still vulnerable.— when the economy is still vulnerable. ., , ., vulnerable. the those rates may have to no u- is vulnerable. the those rates may have to go no is to — vulnerable. the those rates may have to go no is to help — vulnerable. the those rates may have to go up is to help combat the - to go up is to help combat the threat rising prices, so even though consumer spending rose, that demand may soften as businesses face much higher costs. the duchess of sussex has apologised to the high court for forgetting she asked a senior aide to brief the authors of a biography about her. meghan denied intentionally misleading the court, after it emerged her former spokesman gave information to the authors of finding freedom. the owner of the mail on sunday, associat
the risk is obviously of the bank of england _ year. r. the risk is obviously of the bank of england start raising - year. the risk is obviously of the l bank of england start raising rates to quickly and that could depress demand quite significantly at a time when the economy is still vulnerable.— when the economy is still vulnerable. ., , ., vulnerable. the those rates may have to no u- is vulnerable. the those rates may have to go no is to — vulnerable. the those rates may have to go no...
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Nov 8, 2021
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again, treasury yields rising after we saw the repricing done at the bank of england. anging a couple of the gilts. we will monitor that after the bank of england disappointed. inflation is transitory, but it will be quite hard to see what is going on. these are some of the sectors that are on the move. you look at energy, health care the main gainers. currently, a lot of the folks among energy, but also gas prices, oil prices, and what we'll see from them if you look at the ones that are losing the most. it's travel and leisure, auto parts. we have a great interview. we're looking forward to hearing guy johnson speak with the iag chief executive and how they will deal with labor shortages. the price of energy, the price of fuel, but also these restrictions being lifted. technology's an interesting one because of elon musk, a big story over the weekend. we'll see what he does with that tesla stock, at 10%. twitter says sell, sell, sell. what is he do with it? cop 26th climate talks have entered their second and final week. they are warning that progress isn't enough to
again, treasury yields rising after we saw the repricing done at the bank of england. anging a couple of the gilts. we will monitor that after the bank of england disappointed. inflation is transitory, but it will be quite hard to see what is going on. these are some of the sectors that are on the move. you look at energy, health care the main gainers. currently, a lot of the folks among energy, but also gas prices, oil prices, and what we'll see from them if you look at the ones that are...
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at that could, of course, be a worry for the bank of england because much lower unemployment doesn't ers —— what we expect the numbers to look like? ., . like? not too bad which will come as _ like? not too bad which will come as a _ like? not too bad which will come as a relief— like? not too bad which will come as a relief to - like? not too bad which will come as a relief to most i like? not too bad which will come as a relief to most of| like? not too bad which will l come as a relief to most of us but from the perspective of the bank of england it does put more pressure on them, as you just alluded to. it is worth noting that the end of the fellow scheme is in september so today we will get some inclination as to how many people are claiming unemployment related benefits as at the end of october. unemployment itself will only cover september so we will have to wait another month to find out what the full impact of the fellow scheme will be. we will get some insight today but broadly speaking, the data we expect will show most people returned to work which is something alluded to
at that could, of course, be a worry for the bank of england because much lower unemployment doesn't ers —— what we expect the numbers to look like? ., . like? not too bad which will come as _ like? not too bad which will come as a _ like? not too bad which will come as a relief— like? not too bad which will come as a relief to - like? not too bad which will come as a relief to most i like? not too bad which will come as a relief to most of| like? not too bad which will l come as a relief...
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Nov 26, 2021
11/21
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anna: as you mentioned the bank of england, i will get to some of the news coming out of the bank of gland. on the subject of the labor market, because we were waiting for further information about the end of furlough, there is strong evidence of spike. then there's quite a lot of conversation here around the way that mpc comments are worked into markets. he says there a danger that guidance is interpreted as commitment, and i suppose we have to remember the conditionality of all of the statements we get from central bankers now. charlotte:charlotte: if you look back through the market reaction of what has been priced into bond markets, they didn't to react far more in terms of actual actions. things like consumer confidence in the u.k. has not been particularly strong, and maybe that is due to things like a petrol shortage, worries about supplies running into christmas, and terms of business sentiment, that is somewhat mixed. you can see why the bank of england has a degree of caution. there was this wait for the furlough and the impact of about one million people coming into the wor
anna: as you mentioned the bank of england, i will get to some of the news coming out of the bank of gland. on the subject of the labor market, because we were waiting for further information about the end of furlough, there is strong evidence of spike. then there's quite a lot of conversation here around the way that mpc comments are worked into markets. he says there a danger that guidance is interpreted as commitment, and i suppose we have to remember the conditionality of all of the...
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Nov 17, 2021
11/21
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outperforming with inflation rising, but i think the fed could have a bit more priced in than the bank of englandthe median to long run because the u.k. has a few problems with briggs that ahead. because of the european central bank, they have had 10 years of low rates. they are prepared to move fast with the inflation going on now. that is why the pound can strengthen against the euro because that currency doesn't have a central bank willing to take action against this inflation, where against the dollar, it is tit-for-tat. u.s. pricing for the two-year on the fed is pretty much the same for the bank of england. until that changes, until there is more priced in for medium to long-term growth and higher interest rates in the u.k., i don't see a reason why cable should materially go higher. jonathan: if you ask people about it, td securities wrote about it in their outlook, there's a feeling that that is worse than the u.k., worse than the u.s. they are very similar. what do you make of the growth and inflation mix in either country? jordan: in the u.s., you've got all of the excess savings. the u
outperforming with inflation rising, but i think the fed could have a bit more priced in than the bank of englandthe median to long run because the u.k. has a few problems with briggs that ahead. because of the european central bank, they have had 10 years of low rates. they are prepared to move fast with the inflation going on now. that is why the pound can strengthen against the euro because that currency doesn't have a central bank willing to take action against this inflation, where against...
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Nov 15, 2021
11/21
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andrew bailey, governor of the bank of england, has told mp's he is very uneasy about the inflation situationmep michael saunders says unless rates go up, and placers -- go up, inflation will overshoot the bank of england target. we continue to creep higher. that is the message. we are up by another 0.2%. the stoxx 600 at 487. what is interesting as well as that the pound is now on the front foot. 1.3431. the euro in particular very much under pressure. alix: andy dollar really popping here. let's take a look at what is happening in the u.s. start with the bloomberg dollar index, up by 0.1%. ubs and hsbc dollar positive for 2022. potentially a stronger fed and better growth here in the u.s. that all leading to the 30 year yield above six basis points, buffets 30 moving -- 30 day moving average. that triggered a selloff in the long end of the bond market. yields pushing higher. within the individual equity market, you have utilities, consumer staples, and financials leading the way. obviously financials because of a spike in the long end. i did want to highlight two specific stocks. the real i
andrew bailey, governor of the bank of england, has told mp's he is very uneasy about the inflation situationmep michael saunders says unless rates go up, and placers -- go up, inflation will overshoot the bank of england target. we continue to creep higher. that is the message. we are up by another 0.2%. the stoxx 600 at 487. what is interesting as well as that the pound is now on the front foot. 1.3431. the euro in particular very much under pressure. alix: andy dollar really popping here....
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Nov 17, 2021
11/21
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for the bank of england, higherwages economy. for the bank of england, higher wages means higher inflation, which is the case for higher interest rates being harder to resist. just how much they increased borrowing costs will depend on what kind of inflation received. if we start to see that workers are getting very high pay rises and therefore costs are increasing further, and companies raise their prices again, that is a type of inflation that will be disruptive, and whether bank of england may really have to start slowing things down, raise interest rates sharply, and that is the inflation that proves problematic. higher energy and fuel prices are expected to push inflation up are expected to push inflation up to 5% next year, average wages are rising less than that so many will actually feel poorer. the bank of england is hoping the cost of living squeeze is is short lived. now on bbc news, the travel show. coming up this week... making rally racing more climate friendly in italy. oh, my goodness, this thing absolutely goes. i
for the bank of england, higherwages economy. for the bank of england, higher wages means higher inflation, which is the case for higher interest rates being harder to resist. just how much they increased borrowing costs will depend on what kind of inflation received. if we start to see that workers are getting very high pay rises and therefore costs are increasing further, and companies raise their prices again, that is a type of inflation that will be disruptive, and whether bank of england...
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Nov 17, 2021
11/21
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what tore does the bank of england need, tom? inflation came in above expectations. 4.2% in october year on year. the third that it's above the 2% target bank of england and highest in the u.k. in a decade and it's only expected to keep rising. already this week, the governor andrew bailey of the bank of england said that he's very uneasy about the inflation picture in the u.k. he said the reason he didn't vote for a november rate hike was because he wanted to see how the labor market was faring post furlough. we have the jobs numbers yesterday and they too strengthen the case for a december rate rise. the jobs numbers in december should just rubber stamp what's already a strong case for a december rate rise. and the fear now will be that worries about inflation mean price growth starts fueling itself. tom: so everything seems to be come together to make the case for that rate rise by the b.o.e. in december. let's unpack what's happening with inflation here in the u.k. what is behind this surge in prices? beating estimates. what a
what tore does the bank of england need, tom? inflation came in above expectations. 4.2% in october year on year. the third that it's above the 2% target bank of england and highest in the u.k. in a decade and it's only expected to keep rising. already this week, the governor andrew bailey of the bank of england said that he's very uneasy about the inflation picture in the u.k. he said the reason he didn't vote for a november rate hike was because he wanted to see how the labor market was...
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Nov 4, 2021
11/21
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the bank of england's warning, there shouldn't be pricing in hikes. -- it is a communication mistake other things. the bank of england's warning there shouldn't be the pricing enough hikes. they are just being -- in hikes. they are just being cautious right now. they don't know what's going to happen with growth and wages. energy prices could fund a year. that is expected. that can push inflation done. in fairness to andrew bailey, there were people who didn't think they should raise the rates because they thought it would put too much pressure on the economy, with brexit and everything else, it still has a lot of uncertainty around. paul: upcoming employment numbers in the u.s. will take on extra importance. jay powell, putting so much emphasis on getting to a stronger job market. what are we expecting? >> we are expecting a stronger jobs report. it's important jay powell said it is our target for 2% of higher and we still have to go on jobs -- where exciting to see a good report after two disappointing ones. let's take a look at one bloomberg chart to show you what i'm talking about
the bank of england's warning, there shouldn't be pricing in hikes. -- it is a communication mistake other things. the bank of england's warning there shouldn't be the pricing enough hikes. they are just being -- in hikes. they are just being cautious right now. they don't know what's going to happen with growth and wages. energy prices could fund a year. that is expected. that can push inflation done. in fairness to andrew bailey, there were people who didn't think they should raise the rates...
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Nov 5, 2021
11/21
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the bank of england. two year yields back to 2000 basis points. s call it 153 on 10 and whipped through the long end and call it 196 on 13 and get straight to the bank of england so you and i can have a bit of a conversation about what on earth is take place there in the last month. tom: how are they going this -- to china on 6% gdp? jonathan: when the chart looks like this on the far right side, something is going terribly wrong in terms of communication at the bank of england. we had to see a huge unwind at the front end of the u.k.. i want to talk to about the timeline of things. the governor is going on making excuses for this. the start of the month of october with a nice little chitchat with the yorkshire post. it sounds like the government was concerned about inflation. he followed up those comments with a conversation with a group of 13 weaning even harder to the conversation. then, the chief economist saw where rates were and called november a live meeting. now course, anytime one of the central banks speaks and makes a statement, it is co
the bank of england. two year yields back to 2000 basis points. s call it 153 on 10 and whipped through the long end and call it 196 on 13 and get straight to the bank of england so you and i can have a bit of a conversation about what on earth is take place there in the last month. tom: how are they going this -- to china on 6% gdp? jonathan: when the chart looks like this on the far right side, something is going terribly wrong in terms of communication at the bank of england. we had to see a...
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Nov 15, 2021
11/21
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the governor of the bank of england is also speaking alongside a number of members of the mpc.ertainly the hint is that we are going to be seeing rates going up fairly soon. we will keep track on those events as they are happening. . the president is going to be signing his infrastructure bill a little later on today. annmarie hordern is in d.c. talking about that. his approval ratings are starting to come down fairly sharply. ellie wilkins is watching the virtual meeting with xi jinping. we are talking about the takeaway from cop-26 in glasgow, the deals and the compromises. let's kick off with annmarie hordern. we have been pushing for this infrastructure bill for a very long time. he is going to sign it into law, 1.2 trillion dollars. sounds massive. is it a victory with consumers as worried as they are about inflation? annmarie: it is a great question. the president is certainly going to tout this is a victory. the former administration could not get it done. it was a long running joke in washington that every week was infrastructure week. finally, this administration was a
the governor of the bank of england is also speaking alongside a number of members of the mpc.ertainly the hint is that we are going to be seeing rates going up fairly soon. we will keep track on those events as they are happening. . the president is going to be signing his infrastructure bill a little later on today. annmarie hordern is in d.c. talking about that. his approval ratings are starting to come down fairly sharply. ellie wilkins is watching the virtual meeting with xi jinping. we...
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Nov 1, 2021
11/21
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jonathan: the rba, the federal reserve, the bank of england -- a ton of central bank decisions. lisa: they are going to announce tapering. the question is whether they start november, december and whether they push back against rate hike expectations. jonathan: will we get sufficient pushback to the rate hikes christ into the front end of this yield curve? kailey: we saw that christine lagarde ab gave a weak attempt at pushing back. we understand that she was advised not to do that. do that would be a we move at this meeting? i was talking to steen jakobsen early this morning. he said central banks are so far behind. kailey: -- have sacked their manager. that happened in the last 30 minutes. the first manager is gone. tom keene failed to show up for work. lisa: causation is not correlation. but we are throwing it out there. should we will -- jonathan: should we wake up tk? up 19 on the s&p. there is a left in this equity market, remarkable. who would have thought that amazon could deliver the earnings they deliver and this market would close friday and another record? bond marke
jonathan: the rba, the federal reserve, the bank of england -- a ton of central bank decisions. lisa: they are going to announce tapering. the question is whether they start november, december and whether they push back against rate hike expectations. jonathan: will we get sufficient pushback to the rate hikes christ into the front end of this yield curve? kailey: we saw that christine lagarde ab gave a weak attempt at pushing back. we understand that she was advised not to do that. do that...
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Nov 17, 2021
11/21
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will it be the bank of england? the pound against the u.s. dollar. ene, the labor market flashing green. will the bank of england hike interest rates in the middle of next month? tom: we will have to see. our interview of the day yesterday, flat out doing -- what did you think of that? let's stop the show for a minute. i thought that was a make or break career call. jonathan: i think it is a big one. it depends on how patient you think the federal reserve will be. whether this chairman will be committed to the framework. whoever the chairperson is. be patient to sit this out. if we wait long enough, the economy will change. can they wait? tom: i go to gdp, which is a boom economy. target is doing a home depot. there are always some nuances. target with over 400,000 employees, you talk about labor demand. home depot, what i would really go here is can anyone compete with amazon? the digital experiment at target is organized, acute. they are up 155% from the previous year, up 29% on digital. let's go right now to lindsey piegza, chief economist. this is
will it be the bank of england? the pound against the u.s. dollar. ene, the labor market flashing green. will the bank of england hike interest rates in the middle of next month? tom: we will have to see. our interview of the day yesterday, flat out doing -- what did you think of that? let's stop the show for a minute. i thought that was a make or break career call. jonathan: i think it is a big one. it depends on how patient you think the federal reserve will be. whether this chairman will be...
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Nov 2, 2021
11/21
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jonathan: the bank of england encouraged it. the chief economist on thread needle street is saying this one is a live meeting. we have been burned by this kind of language before by the so-called unreliable voice of governor carney. geoffrey: it is a live meeting, but for the wrong reasons. instead of talking about the economy and monetary policy, it has become a live meeting testing the bank of england communication strategy. that shouldn't be what monetary policy is about. on the other hand, given communication is already a part of monetary policy, you could argue the boe has every right to focus on this. on balance, they will probably move to validate things as well, but i don't think they can have the time, and it can afford to wait. lisa: stocks have remained incredibly resilient with this backdrop of volatility. just to give a sense of how much it has increased, you look at the implied volatility index, it has risen to the highest since the end of the march 2020 disruption that we saw. why are we not seeing the same volatil
jonathan: the bank of england encouraged it. the chief economist on thread needle street is saying this one is a live meeting. we have been burned by this kind of language before by the so-called unreliable voice of governor carney. geoffrey: it is a live meeting, but for the wrong reasons. instead of talking about the economy and monetary policy, it has become a live meeting testing the bank of england communication strategy. that shouldn't be what monetary policy is about. on the other hand,...
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after shop bank of england decision, bank of england, unexpectedly kept rates unchanged. sterling is now the worst performing g 10 currency. so there you see a quite a plunge in terms of displacement of economic activity. of course, it's a, you know, it's one of the bigger on the top 5 currencies in the world. so, and so a lot of when it makes that sort of move, it's huge ripples. right, right, right. well, the bank of england unchanged that near 0 european central bank unchanged, that near 0 federal reserve bank of america unchanged, that near 0. that's the latest that moves, or lack of lives by these 3 major central banks, that some would argue, control the global economy for the most part because they have the greatest reach. they've got the greatest military strength, the greatest influence post world war 2. and they all are talking about raising rates at some point, the future as they've been saying that for 20 years. but the baseline fact is that you cannot taper a ponzi scheme, right? the money printing is the base layer for this huge permit scheme. that now is spi
after shop bank of england decision, bank of england, unexpectedly kept rates unchanged. sterling is now the worst performing g 10 currency. so there you see a quite a plunge in terms of displacement of economic activity. of course, it's a, you know, it's one of the bigger on the top 5 currencies in the world. so, and so a lot of when it makes that sort of move, it's huge ripples. right, right, right. well, the bank of england unchanged that near 0 european central bank unchanged, that near 0...
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after shop bank of england decision, bank of england, unexpectedly kept rates unchanged. sterling is now the worst performing g 10 currency. so there you see a quite a plunge in terms of displacement of economic activity. of course, it's a, you know, it's one of the bigger and the top 5 currencies in the world. so, and so a lot of when it makes that sort of move, it's huge ripples. right, right, right. well, the bank of england unchanged that near 0, near a p and central bank, unchanged it near 0 federal reserve bank of america unchanged, that near 0. that's the latest moves, or lack of lives by these 3 major central banks, that some would argue, control the global economy for the most part because they have the greatest reach. they've got the greatest military strength, the greatest influence post world war 2. and they all are talking about raising rates at some point, the future as they've been saying that for 20 years. but the baseline fact is that you cannot taper a ponzi scheme, right? the money printing is the base layer for this huge permit scheme. that now is spil
after shop bank of england decision, bank of england, unexpectedly kept rates unchanged. sterling is now the worst performing g 10 currency. so there you see a quite a plunge in terms of displacement of economic activity. of course, it's a, you know, it's one of the bigger and the top 5 currencies in the world. so, and so a lot of when it makes that sort of move, it's huge ripples. right, right, right. well, the bank of england unchanged that near 0, near a p and central bank, unchanged it near...
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Nov 4, 2021
11/21
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bank of england's rate decision could go either way. d become the world's first major central bank to hike since covid. credit suisse plans to
bank of england's rate decision could go either way. d become the world's first major central bank to hike since covid. credit suisse plans to
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Nov 1, 2021
11/21
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finally, the bank of england. andrew bailey and the last time he has spoken publicly seems to be leading towards getting those rate hikes in the mix now but a couple of the newer members. the monetary policy committee saying they want to wait and see how this plays out. no matter -- even if we can see how their wages are going through the roof, there will be at a lot of talk about when they will move on rate hikes. maybe not do it yet. there are enough people betting that they will. if they do, it won't be such a big surprise. there's so much uncertainty around brexit and other things which is why they will wait. rishaad: let us get to mark. what are you making of all these moving parts as we start this brand-new week? reporter: i think as kathleen was saying there, the opportunity of the fed, we got traders who got the sense that other -- banks are pushing them into a corner where they will be more aggressive then as seen possible a few weeks ago. especially last week, the bank of canada came out very hawkish. the
finally, the bank of england. andrew bailey and the last time he has spoken publicly seems to be leading towards getting those rate hikes in the mix now but a couple of the newer members. the monetary policy committee saying they want to wait and see how this plays out. no matter -- even if we can see how their wages are going through the roof, there will be at a lot of talk about when they will move on rate hikes. maybe not do it yet. there are enough people betting that they will. if they do,...
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Nov 11, 2021
11/21
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it put the bank of england off of raising rates at the meeting last week. of england changed its forecast for the economic outlook. if today's numbers match up with the new outlook, he will keep the bank of england on track to raise rates in the coming months, as it said it would. dani: is that fear about a slowing economic recovery weighing on other economic data? >> absolutely not. it seems the housing market is tone deaf in the u.k. the latest house price data saying house prices rose in october and they expect them to keep rising over the coming year. that's because the shortage of new property coming to the market is weighing over all other factors. and other data on manufacturing and industrial production will come that will give us a clearer idea of what is going on with brexit in the u.k. dani: it certainly does feel like with the data were getting in that is becoming increasingly difficult to be transitory. manus: the fed are considering other -- all the options on the table. i think lizzie should call them and tell them to move the property prices
it put the bank of england off of raising rates at the meeting last week. of england changed its forecast for the economic outlook. if today's numbers match up with the new outlook, he will keep the bank of england on track to raise rates in the coming months, as it said it would. dani: is that fear about a slowing economic recovery weighing on other economic data? >> absolutely not. it seems the housing market is tone deaf in the u.k. the latest house price data saying house prices rose...
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Nov 2, 2021
11/21
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the bank of england encourages that move. federal reserve, it is about whether we get some pushback. tom: let's pause because this is important. the first derivative of the movement of yields in europe is quite steep. why is that? jonathan: we go from zero to 70 in australia. the reason i mention that is it is not just europe, it is not just the u.s.. it is global. it has been a massive move all over the place. some people have encouraged it. some people have validated it. australia validated the move. the bank of england encouraged the move. the federal reserve has not on much. if we do not get pushback, the market will see it as encouragement. let's finish on what it means for the currency. better to travel than to arrive. we may not hike interest rates through 2024 geared -- 2024. down under and up here in the united states, down about 0.8%. tomorrow at the federal reserve, it is about two things. tell me what is next, give me a better view on inflation and about how the latter informs the former. tom: i like how you have t
the bank of england encourages that move. federal reserve, it is about whether we get some pushback. tom: let's pause because this is important. the first derivative of the movement of yields in europe is quite steep. why is that? jonathan: we go from zero to 70 in australia. the reason i mention that is it is not just europe, it is not just the u.s.. it is global. it has been a massive move all over the place. some people have encouraged it. some people have validated it. australia validated...
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Nov 5, 2021
11/21
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>> to understand, you have to look at the set up into the bank of england. i think it started with the bank of england with barely talking about potentially hiking, clearly messaging that the exit is coming. u.s. treasuries have been driven a lot. i think the market has been sort of toying with -- torn between the outlook and function. we do not hear anything from fed chair powell to push back on the idea that the expectation is much higher that they would have to respond. i think the fed held its ground but the fact that it did not hike despite market pricing. i think the market had to react to the fact that may central banks are not getting bullied by the market or inflation risk. that seems to be persisting much longer. tom: how much did president draghi credit for headlines that say 2020, 24, 25. we don't see that in america. is this the fed really looking out as draghi did two or three years? >> i think there are some big structural questions here. labor force participation, have things changed? is inflation just going to be much higher? they had a wide
>> to understand, you have to look at the set up into the bank of england. i think it started with the bank of england with barely talking about potentially hiking, clearly messaging that the exit is coming. u.s. treasuries have been driven a lot. i think the market has been sort of toying with -- torn between the outlook and function. we do not hear anything from fed chair powell to push back on the idea that the expectation is much higher that they would have to respond. i think the fed...
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Nov 16, 2021
11/21
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the bank of england is hoping that cost of living squeeze is shortlived. simon jack, bbc news.peaking to politicians and business leaders, as speculation grows that the government is preparing to suspend the northern ireland protocol — that's the part of the brexit deal that avoids the re—emergence of a hard border — between northern ireland and the republic. borisjohnson has said such a move would be �*perfectly legitimate' but critics warn he is being reckless with the peace settlement agreed over 20 years ago. our economics editor faisal islam is in belfast tonight. any word on how these meetings have gone? any word on how these meetings have one? , , any word on how these meetings have none? , , ., , ., any word on how these meetings have ione? , , ., , ., ., any word on how these meetings have none? , , ., ._ ., , gone? greggs it was done two years auo, gone? greggs it was done two years a . o, the gone? greggs it was done two years ago. the trade _ gone? greggs it was done two years ago, the trade deal _ gone? greggs it was done two years ago, the trade deal was _ gone? g
the bank of england is hoping that cost of living squeeze is shortlived. simon jack, bbc news.peaking to politicians and business leaders, as speculation grows that the government is preparing to suspend the northern ireland protocol — that's the part of the brexit deal that avoids the re—emergence of a hard border — between northern ireland and the republic. borisjohnson has said such a move would be �*perfectly legitimate' but critics warn he is being reckless with the peace...
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Nov 17, 2021
11/21
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the bank of england's aim is to keep inflation to around 2%. are putting new pressure on households and businesses. economists are debating how much of the surge in inflation can be blamed on the pandemic, and how long it will last. this morning, the international trade secretary, anne—marie trevelyan, was asked how tough it was going to be for consumers in the run up to christmas. the chancellor raised this in his budget a few weeks ago and the forecast indeed show that inflation was likely to go up a little more. that's why for our most vulnerable constituents he has both increased the universal credit fund by up to about £1,000 a year, there is a £5 million fund for councils to tap into with the most vulnerable families and indeed we continue to support those. and the independent pay review bodies for our public sector workers will be looking in the traditional way now that we have come out of the covid crisis situation at how to support for pay increases in the year ahead. so the chancellor has set in play a number of tools and support syste
the bank of england's aim is to keep inflation to around 2%. are putting new pressure on households and businesses. economists are debating how much of the surge in inflation can be blamed on the pandemic, and how long it will last. this morning, the international trade secretary, anne—marie trevelyan, was asked how tough it was going to be for consumers in the run up to christmas. the chancellor raised this in his budget a few weeks ago and the forecast indeed show that inflation was likely...
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well, the bank of england unchanged that near 0, near a p and central bank, unchanged it near 0 federal reserve bank of america unchanged, that near 0. that's the latest moves, or lack of lives by these 3 major central banks, that some would argue, control the global economy for the most part because they have the greatest reach. they've got the greatest military strength, the greatest influence post world war 2. and they all are talking about raising rates at some point the future as they've been saying now for 20 years. but the baseline fact is that you cannot taper a ponzi scheme, right? the money printing is the base layer for this huge permit scheme. that now is spilling over into the hyper inflationary collapse of the viet monies against assets and particularly against big coin. but we're at, we're now in the crack up boom phase. that was articulated by economist time in minsky. and this is exactly why mar germany where people are fleeing the fee of money into assets like stocks for the time being an escape and the, the result very quickly. now, as we've been predicting now for at
well, the bank of england unchanged that near 0, near a p and central bank, unchanged it near 0 federal reserve bank of america unchanged, that near 0. that's the latest moves, or lack of lives by these 3 major central banks, that some would argue, control the global economy for the most part because they have the greatest reach. they've got the greatest military strength, the greatest influence post world war 2. and they all are talking about raising rates at some point the future as they've...
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Nov 4, 2021
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bailey at the bank of england modeling him.lix: jay powell, you could argue, did exactly what the markets expected, whereas andrew bailey definitely became unreliable boyfriend number two. he even addressed that, saying maybe it is in the cards for the head of the boe. built up expectations of a hike and then didn't deliver. this is now the market reaction in some capacity. you have sterling-usd down by over 1%. before the decision, -- now we are trying to do with what the sequencing means. in the equity market, record close yesterday after the fed really met those market expert patients and calmed everything down. you have s&p up by 0.3%. you have value. you have discretionary, energy all leading the way. over in the bond market, a lot of buying coming in by about 10 basis point. brent we are all watching. opec, wanting to see if they're going to bow to president biden's ask for more oil. guy: and what does biden do if they don't deliver extra barrels? let's track those top stories we are focusing on. mike mckee looking ahead
bailey at the bank of england modeling him.lix: jay powell, you could argue, did exactly what the markets expected, whereas andrew bailey definitely became unreliable boyfriend number two. he even addressed that, saying maybe it is in the cards for the head of the boe. built up expectations of a hike and then didn't deliver. this is now the market reaction in some capacity. you have sterling-usd down by over 1%. before the decision, -- now we are trying to do with what the sequencing means. in...
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could the fed in the bank of england not just buy all of it and take the hit of the loss and make the public pay for it? it's potentially feasible if somebody will sell it to them. so it's actually, it's actually pretty hard. if the central bank were found to be trying to pursue a strategy like that, that we can sell them anything. because there is a core belief in this space that this is for the people and not for the governance . people don't mind if the government participates in it, alongside the people. but if the government trying to control it at the expense of the people that will not wash, do you think the bank of england is going to take on the millennial voters now? they're not going to do that. they're going to have to adapt. do they care about the policies don't seem to. they tend to millennial voters are on the regular no, no, much liking the bank of england, perhaps. i mean, and they don't. but if they go to battle, they will go to battle and, and we saw that recently with the u. s. on it puts regulations in and like millions of people wrote him to congressmen, senators
could the fed in the bank of england not just buy all of it and take the hit of the loss and make the public pay for it? it's potentially feasible if somebody will sell it to them. so it's actually, it's actually pretty hard. if the central bank were found to be trying to pursue a strategy like that, that we can sell them anything. because there is a core belief in this space that this is for the people and not for the governance . people don't mind if the government participates in it,...