one am going to be left wing myself the silly right now i hope it's not right now the bank of england the bank of japan the e.c.b. are under the auspices of the us federal reserve bank essentially so here again safety points out these nonstop wars we have been at war non stop since two thousand and one nonstop everywhere also you know making this action on the venezuela that she and the other chapter is an ongoing it's another chapter on this and safety you know mooses who i'm reading under hard money governments fought till they ran out of their own money under easy money governments can fight until they completely consume the value of all the money held by their people this is why the century of central banking was the century of total war yeah ok that's exactly right and every single country in the world every social bank in the world is pursuing this money printing and warning as you can figure out refund a few exceptionally one notable exception russia paid down all their debt they've been buying gold and china is doing china same same thing but you know. russia serious so i mean it's ok for the u

that was very important progress to how you say, the total -- interest policy bank of japan. ne: one last question, do you see german bund yields? could they ever go as low as gb's are at the moment? >> i think the decline of the growth ratings -- could be, an important factor to push down that longtime -- [indiscernible] boj has a target in 10 years. however, that is not the case in europe. if that longtime yield in u.s. may decline considerably. german could e.u., be -- in japan in the future. rishaad: thank you very much indeed for that. the former boj policy board member and nomura. executive economist coming up we have the chief executive -- of a telecommunications company speaking to us about their latest results and the company's relationships with huawei. our exclusive interview next. this is bloomberg. ♪ data continues to drive -- if i can speak probably would be helpful. but this of course, the number two globe - telecom has to face. it accounts for six of percent of total service revenue. yvonne: the company posted a 22% rise in full-year net profit. let's bring in

the bank of japan. the bank of japan is the exception to the rule. lot they have left in their toolbox. they are very much on fiscal policy and the environment. it's a definite challenge for japan. for everyone else, there are some tools left. shery: especially for the pboc. we were expecting them to support the chinese economy. at the same time, this week you hear the premier come out and really be against flooding the economy with liquidity, saying it is not qe, it's a continuation of prudent monetary policy. what does prudent mean in this case when you continue to see the cuts? sarah: i think that's a really good question. what they say, maintaining growth momentum and maintaining financial stability and not overcooking things. it is interesting that they have responded pretty strongly to the slowdown. we had that in china at the end of last year. you mentioned the rrr cut. we also had additional stimulus slows. credit credit growth was really strong. the key is that they don't go too far. there will be a softening of momentum, just about 6% growth

addressed their issues over the years, that never worked take the bank of japan to a lesson and. >> it makes perfect sense. we're just about out of time in the final analysis central banks were never meant to be, when we pull the alarm for recession, do everything you can to stop it, those are very therapeutic. they're not about trying to avoid setbacks they're there to nudge the economy, maximize its efficiency peter, thank you for an interesting discussion carl quintanilla, back to you. >> rick santelli, thank you very much. >>> when we come back, fed chairman on the offensive, jay powell preparing to testify on capitol hill this week, but behind the scenes he has been working to win over congress big time that story is up next. y appreci the military family and it really shows. with all that usaa offers why go with anybody else? we know their rates are good, we know that they're always going to take care of us. it was an instant savings and i should have changed a long time ago. it was funny because when we would call another insurance company, hey would say "oh we can't beat

japan, looking for a gain of about 1.7%. it is important to remember how important this is. the bank of japan was testifying to parliament yesterday, the lower house budget committee. it goes to show an important issue for the boj, for the government. the governor said it's my duty to make sure we pursue higher inflation. he thinks it is moving toward the 2% target. households are becoming less cautious about prices and wages. fed also got a big inflation number out today. kathleen: inflation, consumer prices, it came in as expected, maybe a little bit weaker. it tells a story to look at some simple pictures of it. as we go into this chart, you see the yellow line that shows core cpi, holding steady around 2.2% for the second month in a row. cpiall, the headline falling year-over-year. a drop in energy prices. the fed key gauges run lower than this. inflation is just about at target and staying there. we've heard several officials saying the economy is in a good place. patrick had this to say when he spoke earlier. >> i continue to be in a wait-and-see mode. we've used the word patie

. >> we start with the bank of japan. the governor says he will keep buying exchange traded funds, even if the bank faces paper losses. he says the etf buying is bided and is part of the banks stimulus pass in. the index closed wednesday at 1620. kuroda says the bank won't face any financial issues because it can allocate reserves to cover any downside. a new closed report from the wos the u.k. business confidence is at its lowest in seven years. consumers are increasingly pessimistic about the economy a month from brexit. sterling rose as president -- parliament voted to back theresa may's strategy. demand making it more likely that may's deal will wind approval -- when approval next month. >> the government doesn't want to extend article 50. the government's policy is to get the legally binding changes so a deal can be bought by this house and we can leave on the 29th of march with a deal. >> in washington, president trump's former legal fixer has the nation's attention as he laid out a litany of allegations to lawmakers

now we see the bank of japan has beening something like that. re such a large holder of their own equities in that country and you can argue whether or not it has worked. they're still a long way off from the 1989 high in their stock market. maybe it provides a safety net but ultimately does it work? >> quantitative easing is to stimulate economic activity, not necessarily to boost equities. japanese equity markets has almost tripled from low levels. it is not up to the peak levels. to stimulate the economy -- charles: triggered the wealth effect? >> you're spot on, charles. they can't say mission accomplished because they're not even meeting in japan their inflation target but here in the united states they are not necessarily going to push those interest rates super, super deep into negative territory unless they have to. doing some quantitative easing to adjust in a world where the fed funds rate is too low is a necessary evil. charles: but you understand though the general public who worry about the idea that the federal reserve, essentially

bank of japan governor says he will keep buying exchange traded funds even if the bank faces paper lossesing is needed as part of the banks stimulus package but that the boj would have unrealized losses on its etf holdings if the topics. low 30's hundred 50. the index closed the -- on wednesday. he says the bank will not face financial issues because it can allocate reserves to cover any downsides. former legalmp's secretary has laid out a litany of allegations against his former boss despite being a convicted liar's -- seeking publicity good michael cohen said everyone's job is to protect trump and most people know they are expected to lie for him. cohen brought up numerous legal threats from hush money paid to a poor and star before the election to the president allegedly overstating his net worth in order to get loans. haspresident of rouen rejected the resignation. he says the resignation was counter to the national interest and he does not accept it. rouhani implied backing from the country's supreme leader. state media showed pictures of him back at work. global news, 24 hours a day

has a natural deflationary impulse, which has been a big problem for the bank of japan, but what thattrengthening of the concert desk and -- currency. if you are concerned, and you do want to take on too much risk, being long on japanese currency is a good trade to follow. inlinda: what are you liking southeast asia? are you liking what you see in thailand? stefan: from an economic perspective, yes. the bulk of our calls in asia are focused more on north asia dan southeast asia. not too much of a fan of thai equities per se. i do like the stability of the baht. policy overall is moving in the right direction. haslinda: we are seeing a changing town about buying, so you the u.s. causing rates, accommodation in india and china, is that running the risk of asian central banks to stand, with greater clarity from the fed? stefan: a lot of central banks in e.m. markets have to be careful in terms of the coming -- taking on an easing tone with exception to china. it was not too long ago that there was a severe shock to emerging-market currencies, and central banks have to raise currency -- r

it is not too surprising when you think the ecb and bank of japan is being pretty dovish. >> never questions whether the em rally candy sustained as well. theirchina continues with monetary policy, there is plenty of liquidity out there. we have seen a good rally in chinese equity markets. >> a different story in australia. now we are talking about double rba cuts. what is your take? call was made in 2011 for rate cuts, and they were right. not everyone will agree with it. the rba has been consistent saying there is an equal chance of rates going up or down. vote when you have a good track record of someone like westpac saying there is a rate cut coming, it may not be long before you see other banks following the same path westpac is taking. >> how about the impact on the rest of thanks in asia? mark: in india, they have cut rates already. it is a big contrast to last year when we saw a rates go higher. when you look at somewhere like malaysia, inflation has come down really well. they have been on hold for some time. their economy could use some help. >> indonesia will stand pat at 6. mark:

bunds, one week of bunds doesn't look anything like treasuries here they sit under 20 basis points always look to mario draghi to see the weak link in the central banking chain with japan two-day of the dollar index, once again, making a b-line for 96, rates firm, stocks stay pretty firm and all that is actually fairly intuitive from an economic standpoint for a change. david, jim, back to you. >> okay, thank you, rick rick santelli in chicago. >>> now back to or over to bob pisani he's got more on what's moving this morning on the floor. bob? >> good morning, david happy monday, everybody. a mixed open, a little bit three to two declining to advancing stocks we had help, look at sectors from tech early on nvidia, qualcomm was up, microsoft was up banks are flattish materials generally having a tougher time and nergy oil was near $56 about two hours ago and just dropped down dramatically at 2 1/2 month high. energy stocks are lagging right now. the good news is the market internals are terrific we have just had a fantastic four weeks or so here. breadth of the new york stock exchange is not the old historic highs in september, but not far from there buying power, how m

i think maybe he should have tried to dive in more as to how the bank of japan and the european centralank maybe have overstayed the welcome and taken it too far but it seemed as though the headline that generated the most interest was that the fed can affect and weigh in on every social problem. and the conversation on the floor was more that we didn't glean a lot of new information from the chairman but many of us down here gleaned more from the questions and the congressmen and the direction of their questions. you know, to bureaucratize the fed more and have them weigh in on the social issues as important they are seemed counter intuitive of the central bank and merits some thinking about, whether it's -- you can't borrow forever, even if you're doing it in your own currency. these are very fundamental issues but you can always see the direction. many of these government officials want to spend more than they take in and they would like the blessing of the central bank and if your pet issue is climate change, spend more money that is fine but it shouldn't be something that the chair

bit of aave a little move from the bank of japan and terms of what they are prepared to do on the bondside. they are concerned about where the yields are in japan. cutting bondapan buying to arrest the slide in the bond market. let's get deeper into the asian session. we have trade thanks. juliette saly is standing by. juliette: everything you are talking about, the boj move, the yen is at a 19 year low boosting japanese stocks, they were closed for a public holiday yesterday. the topics and then nikkei, closing higher by 2.6% and gaining, adding to the gain across asian equities. the first win on the msci asia-pacific index since last tuesday. chinese market closing from her by .7 of 1%. australia was stronger. you see weakness coming through in a.m.'s -- em's. of -- off bystocks -- and an asian stocks off. we have seen some upward movement coming through in the offshore and onshore renminbi after they touched a three-week low yesterday. where closely watching the kiwi which is unchanged. no rate decision tomorrow, change expected from that cash level and now analysts pushing the rate

nikkei index was up more than 2.5% also convincely coinciding with a 20-year anniversary with the bank of japan starting its quantitative easing program. been going on for 20 years now markets were definitely trading a little better. better tone for both japanese equities, chinese equities, and here on confirmation that one, a potential shutdown will be avoided this week, as there seems to be some form of an arrangement in place in congress u.s. congress that will avert the possibility of that happening. second is the skugs when it comes to the trade side of things as well that helps give asian equities a bet of a boost overnight again, the same thing is playing out in europe. this morning we've got euro stock 600 up .7% you can see the mood board behind me. we're trading 80% in the green positive start to the day. let's get into some of the individual indexes to see the breakdown. it is green across the board ftse 100 up half a percentage point stronger today all eyes will be on theresa may. she will be addressing parliament and apparently urging mp's to be a little bit more patient when it co

it's also an important day and an anniversary zero interest rate policy was du jour in the bank of japan created it. it probably has not done them justice. if you look at the stock markets, what does that mean? in 1989 it was almost at 40,000 in the issues that brought it down were just 10 years later that introduced zero interest rate policies and tyler back to you. >>> thank you very much. the new videogame. graphics better than super mario brothers. ishi ts game a "fortnight" killer? and if so how long will its popularity last before the gamers move on to the next big thing. california phones offers free specialized phones... like cordless phones, - (phone ringing) - big button, and volume-enhanced phones. get details on this state program. call or visit and accessoriesphones for your mobile phone. like this device to increase volume on your cell phone. - ( phone ringing ) - get details on this state program call or visit >>> welcome back call of duty publisher blizzard reports after the bell the stock rallies about 3% into that competition of free to play games like fortnite is a big

of the year but also it could soften its forward guidance. that brings me to the bigger picture with central banks and rates. our question ask about the bank of japan means for other central banks. i'll asked the question to you, basically, will the world escape the low rate trap that japan is stuck in? janet: i think it is a very good question. beensomething we've talking for a while, which is structurally lower row and hence lower interest rate. is a function of the demographics, which is labor force growth, and also productivity growth. on that front, as you know, the demographic situation in the developed economies such as japan, europe, italy, the west asian population growth has slowed, and productivity has turned structurally lower since the financial crisis. in terms of real growth, we expect that to be structurally lower, and in terms of inflation butee a strong labor market wages are still quite subdued. it is hard for the world to get out of this low interest rate environment as result because of lower gentle growth. question is,b which central bank i hike first next? i imagine most people would say the fed. do we get divergence or do ot

dollar-yen, don't forget the bank of japan stands ready to do whatever it takes in that marketplace. a little bit of turnaround in dollar-yen. breaking news coming through on france klm. this is the revenue numbers, 26.5 billion. that is bang in line with the market. that's look at the forward statements, they see 3.2 billion euros worth of and they are below 1.5et ebitda times. like should carriers around europe are enjoying a better time than the low-cost carriers. it seems to be the ability to sell business seats versus low-cost. the fuel bill is going to rise, 650 million euros. this is guidance for them in terms of their costs for the year forward. let's get the business flash headlines with olivia in london. olivia: the tesla ceo elon musk has shared his latest production forecast. he's aiming for a half million cars this year. the numbers are broadly in line with what markets had said before, but it's difficult to gauge, given his proclivities to stretch goals. tesla's total deliveries more than tripled last year. the price surge in iron orchid help boost fortescue this year.

of economic numbers and surprising to the downside. can i pivot to japan? i am looking at what kuroda said this morning. the bankn would have to consider additional stimulus if the exchange rate affected the economy. the pboc are wrapping it up and the fed is on pause. this is another piece in the start of the chessboard of central-bank policy for 2019. we are in a different mode. peter: we are definitely in a different mode, no question. it is good to see central banks taking, acknowledging we have changing data. i am -- and consequently theirng their's -- status. i struggled to think what more they could do at this stage. if you look at the qe side of things, it is clear they are not achieving the targets they said last year and the year before. in terms of yield curve control, i do not see them doing an awful lot there. kuroda's comment strike me as being trying to avoid an appreciation of the yen. from his perspective it makes sense because if the fed continues to pivot, it is one thing going on pa's but if they engage in slightly more dovish language, that will lead to a loss in the dollar-yen and that coul

hold at least through the middle of this year, but also other central banks have become more dovish as well. we have seen that from the ecb, bank of england and bank of japan bank of china. monetary policy, confidence around central policy on hold our remaining in easy territory. there's been a second important theme as well which has been som e of the heightened concern about geopolitical risk, particularly u.s.-china tensions. market perceptions have turned around very quick the. increasing confidence that a deal can be done. tom: you know i'm in the blackrock triple leverage all caps fund. on december 23, you advised me to go into the four leverage. 11%, s&pgits, dow up up 11%, nasdaq all in, composite at 13% in six weeks. is it too late to get on board? what do i do to reallocate right now after i asked this historic move? richard: last year, we saw an extraordinary sequence of. -- sequence of events. he saw negative returns for global equities, global bonds, global credit. the only place you could hide was in cash. as short rates rose in the u.s., we saw many investors choosing to seek protection in cash at a time when interest rates were rising and o

banks which tried to increase interest rates. the fed went a long way in terms of hiking, and the bank of england tried that. we are still at crisis level interest rates. the bank of japan-year-old recession and inflation close to zero. they are not going to do it. what you saw with the u.k., with the reserve bank of australia and india today, they are all others which are joining the group, because the bigger central banks have shown they don't have the ability to keep tightening anymore. >> as kathleen mentioned earlier, that rbi rate cut coming ahead of national elections in india. how much of the move has to do with the fact that they can afford to do this, given inflation has been tame, and how much has to do with politics? komal: i think both were significant elements. clearly that inflation was low was the reason cited by the governor. if you look behind it, there is still a lot of the year left. these are the times in which you can have full priced inflation rise. inflation in india could quickly on how theed harvests and the monsoons work out. saying inflation has been vanquished in india is premature. the prime minister has to face elections in a matter of mon

luke: and when you talk about the doj trade buying bonds to the expectation the bank of japan will noto taper anytime soon and they will have to keep buying. you look at action around the world, long data debt all over. scarlet: we are 10 seconds away, but the s&p 500, slipping into green. we are closing at session highs. we indexes. kathleen: the dow was the first -- looking at the industry group it changed a lot because out of 11, 7 are in the green, led by consumer staples, tech and utilities. joe: someone was talking about the consistency with late day buying. scarlet: it was in mliv for sure. joe: someone sitting in that chair made that point. my have been -- might have been scott minard. there was a sign that augured well. scarlet: buy the dip at the very end. let's take a deeper dive into this. i want to look at up emerging-market debt because it is a tale of different reorg -- of different realities. this is a $70 million ishares emerging-market credit etf nominated in dollars. it is declining over the past three sessions. biggest decline in three sessions since september

if you areeed to cut for example the bank of japan. >> given where real interest rates are. next.think malaysia is good thing about malaysia last year, the removal has been very good for consumption because it reduced taxes. cpi fell rapidly. it felt toward 0%. we expected it to accelerate. going to be about 2%. nominal interest rate is way too high in the malaysia. have financial stability that central banks have. they are going to have more space to look at domestic conditions. we know malaysia's growth has been decelerating. the second one is korea. they will take a bit of time to cut. it hike in november. >> who will not be cutting? >> japan. emerging-market asia, we are talking about. >> the guys that will stay put in the short term, we think thailand will stay put. the philippines will take a bit of time. it just recently hiked. it wants to see deceleration hiking faster. there will behows decelerating growth and a strengthening of the peso has helped. as a result, the central banks have space to cut rates. go will bene to india. we will see also malaysia cutting rates

were showing earlier that investors could still flock to negative yield japan bonds because of the return of dovish central banks is daniel morris and elsa lignos. thank you both. this is look at japan, in the context of the end of monetary tightening, what happens to the yen? elsa: it is interesting, is if this is -- if this is the start of the fed easing cycle, the yen could strengthen. there are lower than they were a few years ago. if the fed were to start cutting rates aggressively, the yen could strengthen. that is not my base case. as long as you have a view that the fed is on hold, i think that is a constructive environment for dollar-yen. francine: this goes back to a chart, we pit dollar-yen against the 10 year treasury yield. that negative yielding government bonds could be an opportunity? daniel: if you think about what returns are likely to be this year, you would expect them to outperform this year. the other thing that is interesting, if we look at the yen now, equities have made back youlosses from december, have not seen the yen pullback to the same degree. you see signs of nervousness in gold a

it is 20 years since the bank of japan turned to zero interest.nce since with a former policy board member. ♪ rishaad: a lot of moving things this morning. a lot of breaking news. of aave the possibility u.s. government shutdown, friday being averted. donald trump will be talking in el paso at any moment. perhaps he will be addressing that. we don't the white house feels about it. it is a deal struck in congress. yvonne: texas is certainly a prime location to be talking about border security issues. cannot leap,s kicking things off in a robust type of sentiment here. japan just hit 2% gains on the nikkei. further extending a game that we saw returning from the holiday. taiwan, i second day of gains here as the lunar holiday and's. tech stocks of late. we heard from jpmorgan about how sentiment has changed. we've entered a new phase and it is bullish momentum, not just for chinese mark

think there needs to be global normalization global normalization the fed is part of that, ecb and bank of japane a more stability economic system in globally and in the u.s. with the normalized position before too long. >> john, there's still vacancies on the fed your name comes up have you had any conversations with the administration? do you think someone like h herrmaherman kane would be a good addition? >> people talking to the white house, interviews, i think it's important to fill out the fed. they're a little short just go ahead. there's been people nominated. but i don't know the particular individuals at this point. but some experience with monetary policy is important theknow how the markets work know how economists work at the fed. models i think and rules is very important so people who have that experience is really the ones to be looking at. >> says the father of the taylor rule. >> yes. >> thank you, john. >> thank you. >> thank you very much for joining us. >>> shares of exxonmobil jumping after reporting earnings this morning and comments from the ceo on oil prices next. >>> la

i think that the central banks, especially the bank of japan, some of the others, they're actually buying stocks. we're not allowed to do that but somehow, this market is being lifted up with earnings not supporting it, with unemployment not supporting it, with wage growth not supporting it -- neil: unemployment is very low. earnings have been very good. >> that is what they tell us, neil. they changed the formulas how they tabulate unemployment. there are two methods. neil: we have not changed how companies report earnings. karen, i do understand a little bit where dan is coming from on this, but do you look at underpinnings as negatively as he does, what do you think? >> what we're hearing from small businesses and our members in terms of, what they see as growth prospects moving forward, financials look really great. they continue to invest. they continue to hire. they're really solidly confident about 2019. you know the biggest problem is finding employees that you need in order to take advantage of growth opportunities. obviously there are pressures in terms of health insurance cost.

of what we get from the fed next. more broadly, if we look at japan, the bank of japan has told us they are going to be low.hat is about right. in europe, i think it is a bit more challenging. so far, we have had a pretty savage discussing of gdp forecast. the street, more broadly is cutting growth expectations. the drivers are being slightly are that we see a lot of temporary factors having driven the weakness in european growth from protests in france to conditions in the rhine and so on. certainly temporary factors being one aspect, but also the global trade environment and what that has done to reelect in europe. started orwe discussed at the start, if we do have trade discussions the beginning of the direction, that does create room for europe to supply from the upside, given how domestic demand has been. but that i have been ecb board member who says the slowdown is deeper than expected in the eurozone and contains guidance on ecb. the discussion, of trying to get policy rates back to zero at some point when it was safe, i wouldn't even call it normalization. we not have this dangerous negative intere

the bank of england has pointed out that the world is moving into a period of slower economic growth. what they're forecasting for the uk next year will still put us ahead of germany, ahead of japanso that there is upside to come for the uk economy if we get a good deal. but their central forecast is for business investment to fall by even more this year, and that's even with a deal. so talking of a dividend is a little bit unrealistic, isn't it? no, i don't think so. i think if we get the right deal, consumers will feel more confident and as consumers recover their confidence, businesses will feel more confident. now on bbc news, sport today. hello, i'm chetan pathak, and this is sport today, live from the bbc sport centre. coming up on this programme: 28 years after his first pga tour title, american phil mickelson wins his 44th after victory at pebble beach in california. and another manchester united legend becomes a manager, as paul scholes takes charge of the english league 2 side he supported as a boy. and a return to form forjoe root, as england's captain hits a century on day three of the final test against the west indies. hello, welcome to the programme. thanks forjoin

with the european central bank, the bank of japan?ld have to say i agree with bill dudley on this. the impact of quantitative easing or tightening on financial markets is very unclear. what you don't understand, you generally fear. from that perspective, i think people have naturally been worried about the impact of liquidity and the fed is responding to it. tom: in the spirit of ben bernanke, who has told me he is isn'tncerned about this, their advantage the x-axis and if they can bring the balance that down over a timeline market participants aren't focused on? gene: i think without question. again, most fed watchers would tell you that the impact of this is equivalent to very marginal tightening in fed funds. isis really about signaling, the fed continuing to tighten or is it going to neutral? from that perspective, whether it is rates are the balance sheet -- i agree with bill dudley. if you look at the impact on the balance sheet estimates from an earlier and, a qualitative , it makes very little difference at all, but it is a me

bank of just this country, should be for all of the lever pullers. >> it is fed is reducing the balance sheet but has been given an out that the ecb and bank of japange policy, i think you'd see big reaction here right now they're not. they're going to continue to ease. >> now we totally agree that we have done nine rate increases and the notion that oh my god, should we get in recession, we have to do quantitative easing, the other central banks don't have anything like that, they're negative i guess what i'm saying is in the end, bad news from europe and japan should they get more stimulative opens the door for the fed here to maybe grab a few more raises in an atmosphere that the markets would be able to take it better. >> the fear is if you try to sneak out a couple more raises, remember, recessions are caused because you murder the economy the biggest murderer is the fed. be careful. >> you're saying there are very few avenues for our central bank, given the position of other central banks, given the downturn in the economy. >> absolutely. i think they should be on hold shouldn't talk future rates. >> 2.25 to 2.5 is neutral zone >> i think so.

. >> easy policy kuroda, the bank of japan, overnight, testified before parliament, he said more easinghere is the opening bell on the s&p 500, cnbc real time exchange at the big board, madison square garden company, is celebrating the world heavyweight championship at the garden on june 1 over at the nasdaq, health research organization the children's heart foundation. david's been quiet over on that side of the desk. >> which means he's got reporting. >> i wish it was -- i wish i could fulfill that lead-in with something big. there are a few things going on we haven't hit on. i guess one that is worth hitting, not a large company, about 3 billion, this navient. student loan service, a portfolio as well. you may have seen this over the weekend. but there has been news as well this morning involving this company. shares are going to be up. they were rejected prior to really actually publicly coming with their bid at $12.50 a share. that's canyon, the hedge fund that people may know oftentimes on the debt side of the equation offers $12.50, along with in partnership with platinum, privat

same for the bank of japan for the fed. probably going to stop somewhere in the zone.ld say that interest rates stay low for several years. more than likely unless the inflation rate accelerates. >> dave, as we get through the rest of earnings season, pretty much there, how do you frame it in particularly the guidance of the year ahead bearing in mind the valuations we have for u.s. equity markets >> well, i think that, you know, the earnings were good but the guidance was okay. and i think that's why the fed is backed off. and they're seeing the numbers, responding to the market and so i think the only way you get inflation i think from here is to have a stronger economy and a stronger economy means higher stock prices and all kinds of feeds into itself. going back two months, the fed to raise rates forever and the balance sheet to shrink now for a long period of time an now completely reversed and been significant change the most important thing that's happening now an concernedabou is the five-year t-bill and one-month t-bill are roughly the same the curve is flatte

the bank of england has pointed out that the world is moving into a period of slower economic growth, what they are forecasting for the uk next year will still put us ahead of germany, japanof england confirmed also that there is up side to come for the uk economy, if we get a good deal. but their central for cast is for business investment to fall by more this year, even with a deal. talking ofa this year, even with a deal. talking of a dividend is unrealistic isn't it? i don't think so, if we get the right deal, consumers will feel more confident and as consumers recovered their confidence businesses will feel more confident. surveys suggest the start of year hasn't been any brighter for business. consumers are faring better but key to all our prosperity will be the outcome of the a man arrested in connection with the disappearance of a university student in hull has been charged with five separate offences. humberside police have said that pawel relowicz remains a person of interest in their inquiry into the suspected abduction of 21—year—old libby squire — she has been missing for ten days. alison freeman is at hull magistrates' court. pawel relowicz appeared briefly

the bank of england has pointed out that the world is moving into a period of slower economic growth. what they're forecasting for the uk next year will still see us ahead of germany, ahead of japan italy. and the bank of england confirmed also that there is an upside to come for the uk economy if we get a good deal. but their central forecast is for business investment to fall by even more this year, and that's even with a deal. so talking of a dividend is a little bit unrealistic, isn't it? no, i don't think so. i think if we get the right deal, consumers will feel more confident and as consumers recover their confidence, businesses will feel more confident. surveys suggest the start of this year hasn't been any brighterfor business. consumers are faring better, but key to all our prosperity will be the outcome of the next few weeks. earlier i spoke to the economist lee hopley, she gave us her assessment of today's economic figures. 0ns ons dated today confirmed what we suspected, was the economy did see a very marked slowdown in 2018. economists prefer to look over the average of three months and there was particular weakness in manufacturing uncertainty about when we are leav

projections for this year or on a possible merger with germany's second largest bank come it spanned. the e.u. in japan of created the world's largest free trade zone and it could save european countries the billions and duties each year the two sides have agreed to remove almost all tariffs on trade in a move that will affect six hundred thirty five million people so-called jephthah has been described as the world's largest free trade agreement it scraps levies on agricultural and industrial products and opens up the service sector and procure. football's asian cup has come to a close with a concert being crowned the new continental champions after they beat japan in the final and a limo talkie is here from sports to talk more about that alema look qatar they'd never even been in a final before so how surprised were you to see them take on the title like you said no one no one expected this let alone win by a scoreline of three to one against pre-tournament favorite japan so that you know what i have to remind people this is football and football sometimes this is the stuff that you know dreams are made

highlight of some of mine safety features the sun finally came a step with one of the banks to dissolve the world title fights on japan. japanese tribes close my book field. trip to the front some because. he's about to race in the final with one of the legends of blue drifting. field started drifting with another two one zero five will begin like she's doing the engine and now he's here it's the culmination of round five until the race in the final he made his opponent with the respect. but they are not. equals on the track such ai you may feel it's still. in the first seat feel down finished a little behind the famous japanese try that feeling jump in the second. second heat you ready. look at the ceiling believe they can chop wood. you know. so that just so he'll. even be in the game and secondly standing on a podium next to the just existing stalls is a notable success i thought i made a second place you would. be was the name when i was. briefed. on the phone what's it been used before you soliciting costly b. was an accident that happened before the bloody vos stuck around to what to feed those plans for the sea

the bank of england has pointed out that the world is moving into a period of slower economic growth. what they are forecasting for the uk next year will still put us ahead of germany, japan bank of england confirmed also that there is up side to come for the uk economy, if we get a good deal. but their central forecast is for business investment to fall by even more this year, even with a deal. talking of a dividend is unrealistic, isn't it? i don't think so. if we get the right deal, consumers will feel more confident, and as consumers recover their confidence businesses will feel more confident. surveys suggest the start of this year hasn't been any brighterfor business. consumers are faring better, but key to all our prosperity will be the outcome of the next few weeks. darshini david, bbc news. the economist lee hopleyjoins us from our westminster studio. what do you make of these figures? i'm not totally surprised. i think the 0ns i'm not totally surprised. i think the ons data today confirmed what we suspected which is the economy did see quite a marked slow down at the end of 2018. economist preferred to look at what has happened over the average of three months a

highlight of some of mine safety features the sun finally came a state with one of the banks to dissolve the world title fights on japan. japanese try to close my book about his trip to the front some because. he's about to race in the final with one of the legends of blue drifting. field started drifting with another two one zero five with the big elation doing the engine and now he's here it's the culmination of round five until race in the final he made his opponent with the respect. but not the slug because on the track it's such a all you may feel it still feel in the first feet feel finished a little behind the famous japanese try that feeling jump in the second. second heat you're ready. to feel. looks like the suit going to go to catch up with feeling like you know make. it sound like just a big deal. a little blow. leave me and i came in second standing on a podium next to the jockey sitting styles is a notable six x. two thousand the second place she ought to. be was even when i was. briefed. on the phone only used once or been useful for soliciting costly beef was an accident that happened before the vote if

president to nominate the head of the world bank it is not yet clear if other countries will propose alternatives to challenge my pass. japan softbank group has posted record net profits for the first three quarters of the financial year the company's fortunes have been driven by investment in several tech firms c.e.o. masayoshi song told reporters he plans to pour yet more money into artificial intelligence the group's net profits reached a fourteen billion dollars over the first nine months that is up fifty one percent so on the same period last year. when a little bit of us. that is business asia here on d w thanks for watching and stay tuned for the w. news coming up next. after. organized crime in the nursing profession. some nurses from bosnia are highly skilled so they have a good reputation throughout europe. but now all the nurses have been hit by a fraud scandal. fake nursing school diplomas are being sold on the black market and it's impossible to sort of forgeries from the real thing. in thirty minutes on w. . much of it difficult. to link africa and the world or link to exceptional stories and discussions from

of collaboration with the japanese banks. it expects the network to be available in japan by the first half of 2020.shi ufj says it wants to toand the payments business a global scale and support new payment channels. amazon and general motors are said to be in talks to invest in a u.s. pickup truck maker. it could value them between $1 billion in $2 billion. a deal is not close. they unveiled a concept vehicle at the l.a. autoshow. gm says it is myers the contribution to a zero emissions future. shery: t-mobile's boss has his proposed takeover and claims the deal will raise bills. he told lawmakers his company does not use huawei equipment and won't after the deal is computed -- completed. will reduce competition. t-mobile and sprint insisted will improve the challenge to leaders, at&t and verizon. coming up next, jay powell and loretta mester -- we will discuss. this is bloomberg. ♪ the latest innovation from xfinity isn't just a store. it's a save more with a new kind of wireless network store. it's a look what your wifi can do now store. a get your questions answered by awesome experts store. it

of artificial intelligence across the agent democrat asian region. from japan and china using an growing ai technologies. but we see in bankingre using ai for fraud detection. in retail, for product recommendations. in health ca re product recommendations. in health care for al power diagnostics. it is really permeating every single industry, and helping people better utilise data so they can make better recommendations, provide better services and really optimise the economy. you mentioned a range of industries there, banking, retail. at which particular industries do you see really utilising ai the most right now? and in which countries? you mention china and japan, but which others? china and japan are definitely leading the charge with regards to artificial intelligence. we see the growth of a high across the world, i believe china is now the world, i believe china is now the number three worldwide leader of ai, which is really fascinating. now there are barriers to the widespread adoption of ai, there are all those science—fiction movie scenarios of robots potentially killing humans. and they are real fears, military dev

all of japan, of course, all of the major shareholders of the world bank's.gaged internationally in trying to have more growth, higher living standards, and better practices around the world. ♪ the central bank delivers its latest assessment on the economy. now,decision out right obviously completely expected. no change when it comes to rates. however, the bank does cut its growth forecast, saying that brings it damage -- brexit damage has increased. >> causing short-term volatility in the economic data and creating a series of tensions in the economy. >> it's hard to feel sorry for a central banker, but mark carney has no direction. because of brexit. equally, the rest of the world is slowing down. there's a of high rates because of which pressure it's away from them yet again. they have to omit reality, which is that they aren't going to hike rates like they are expected to. they cut growth for cost -- forecast. following a string of weak data. >> we're catching a reality. what people fail to focus on is why european growth is so low. when you want to speak

we saw it from the bank of england as well for the uk. we've seen it in japan of the market is desperate for growth, growth anywhere. obviously the tech stocks are the area where we've seen the growth over the years and now there are concerns that growth isn't coming through. the announcements recently on users, et cetera, sales. connell: right. >> all these concerns are weighing on the market. market is desperate for good news on the growth front and it is few and far between at moment outside of the u.s. economy. the fed has made clear. connell: lee is right, veronica. it is funny to me, we go back and forth on this, right? up until christmas eve we were very worried about all of those things. all of sudden the focus kind of shifted probably thanks in large part to the federal v. reserve, maybe optimism about trade you guys talked about a few minutes ago but worries come back with what wit -- twitter has to say. >> twitter is interesting business model. user growth is not as strong as it is in facebook of course, the thing with tech stocks, if you're an inves

of these banks. shery: the 20th anniversary of -rateank of japan's euro=ra policy. what is the verdict?e verdict is it is not just japan's anniversary. there are many people invited to this commemoration. this was seen as a radical step taken for unique japanese circumstances. the same applied to things that japan subsequently tried like quantitative easing. they are now the global norm. these things that were seen as far out are thoroughly legit. thething that betgsgs question, is japan not an outlier, but a laboratory for the rest of the world? some of the things that japan has done, such as negative interest rates, europe has done first. has interest rates that are deeper into negative territory than japan. shery: we just saw the prime minister unveiling a populist budget. one of the things -- what are the things we should be watching for in india? >> firstly, an overarching point, for a government elected with a huge majority five years ago on an unabashedly pro-business platform, they can't seem to hold on to something as basic as a central banker. modi is now on to his third r.b.i