from these , information is not exchanged between the central bank and the central bank. only the announcement of the tax administration to the central bank is an example. we have been waiting for 11 years, which is connected to the central bank's agent bank , so that the tax administration can announce that your business with you will be resolved within two or three days. i can talk , but the antenna is not complicated, i can give it to you let's pass by, you used to provide the account information of the tax affairs organization in the form of hands. usually, the tax affairs organization deals with the tax of individuals at the end of the year. it is important for them what happened in the year . we can process information and implement examples of the method and based on information algorithms , this information is provided to the financial affairs organization, mr. mohadi. it is a business account rahman al-rahim, i would like to say hello to you and all my dear viewers. i would like to inform you that a very positive interaction has been taking place with this financ

well, it is a very long issue of the central bank's laws . there are penalties that are usually applied to these banks. central we agree that they are informed and we will see what happens, which is the answer. for the year of establishment of the tax affairs organization in 1400 1401, i would like to inform you that the transfer of information from the central bank and the banking network to the tax administration started a few years ago. we provide information on the circulation of accounts, annual information on facilities and obligations of individuals, and we provide information on account holders . we provide information on the purchase and sale of people's currency, information on the general sale of tools for the year 2018 is announced, and even the microtransactions of the bank of the tax organization are given. hint he said that the educational information of hamidah halkaha, which might be possible, what should be done, the validation and facilities are now a single body, i was giving you information, such as the customs code of the

what can you tell us about the new central bank governor? is a former banking executive that worked in the u.s. she was employed by goldman sachs. she has a phd in financial engineering from princeton. this points towards a looming pivot. the new minister of finance alluded to a pivot earlier after his appointment into separate statements when he called for a return to national policymaking and also compliance with international norms. these factors together make the case for not just a policy pivot but also a pivot that might arrive sooner than expected that could see the central bank raising rates are ready by their next meeting on june 22. francine: after the finance minister appointment, what do we know about the direction of the economic policy that we can expect from turkey going forward? >> she is known to be in favor of a tight fiscal policy. they said they were going to design the policy framework in a way that would support the central banks effort for inflation. a tighter fiscal stance and the monetary policy going forward. we bel

guy: so markets are digesting what we have heard from the central banks. he interesting thing was, was there more commonality or difference between the message that they were delivering? sarah asked a question about whether or not they were on the same page. this is what bank of england governor andrew bailey had to say about that. gov. bailey: obviously, what we do not do is say, what should we do, what should you do? we set up policies for our areas. that is the law. we don't do that, but we do talk a lot. it is important. it is particularly important in recent times because we are facing such big global sharks. guy: so that takes us to our question of the day, are these central banks on the same page? they have different challenges, different legislation that they have to deal with, but, ultimately, the root is are they dealing with the same issues? joining us to discuss this is our two guests. did it sound like as you listen to the panel that there was more that separated them or more that joined them in terms of the way that they are thinking? ira: i t

we are not really sure what is the right equation for central banks. case for europe in particular, tightening ready conditions. we are in restricted territory for monetary policy. some central bankers in europe especially the german and austrians don't think so and think we are still a ways from there but there is still -- inflation has pointed surprise to the downside last time at least in the may print. there's a lot of supportive data out there that shows perhaps there is more space for a pause if the ecb wills it may be room for a couple more hikes to make sure that we've got inflation in the bad. francine: we have ecb today and the he boj -- pboc 12. nour: we had reporting last week we are not going to abandon the yield curve. the boj is going to stay in line with what they have done. the new central bank governors still adjusting to his new post. japan has been talking about becoming more accommodative in terms of the budget and supporting the government but to be honest we are not pricing for that in the market. there is room for upside surpris

other central banks are beginning to change their stance a little bit. s&p is one example. have some impact on the bond market for a very short time. but we are paying attention to his the of long-term yields behaving slightly differently for short-term rates because we are probably close to late cycle conditions. with the monetary policy stance, it is slightly more hawkish. we think it is quiet likely that we enter into the late psychodynamic and for that reason, we think long-term yields will be more anchored. we are not looking at a 400 basis point hike your. it is basically one of two adjustments needed to bring the market expectations in line with what the central banks want. that is different. >> you have a long position for the end despite the bell as weakness we continue to see. what do you see changing that short of intervention at some point? just giving -- given the widening diversion and the boj and the fed? >> it is a difficult story. as you know at the start of the year, there was a big reversal in the market narrative. that story is getting a new challenge. ja

on that, it was the last central-bank decision, it ended without a surprise. of japan stuck with it super easy policy and cap its yield curve control program unchanged. today's japan inflation is a very different one from 2016, when the policy was introduced. this is headline and core inflation. the was rallying towards 1.00, and deflation was a risk. core inflation is far above the boj's 2% target, and the yen is trading at about 1.40 to the dollar. let's get over to luigi speranza , chief global economist, bnp paribas. good morning and thank you for joining us. it was expected that the boj would not move. does it make sense to have this super easy policy? luigi: good morning and thank you for having me. i think it is a question of time before changes arrive. what is remarkable about japan, it is not any longer the exception. core inflation is above 4%, and it will continue to move higher. in july they will revise upward the inflation forecast. there will be a change in yield curve control. dani: can i make a case to you that a hedge fund buddy of mine made?

it is shown that the number of the central bank it is important to ask the central bank of central bank'sers. we went and followed up on the matter. i say that the central bank has released its own loans to its employees in order to collect the roof of the banking network . mr. farzin, this information will be published soon . we will publish it . there is no problem. let me tell you, because the game is very repetitive , the employees of the central bank are not allowed to take a loan. the language of the sada and sima news agency is that in less than 20% of the flood-prone areas in the south of kerman province , watershed management projects have been implemented. watershed management projects in these areas, in addition to feeding the underground water tables, have protected the downstream villages and the city of kerman from floods . in the year 1400, the president, on the sidelines of his visit to the flooded areas of kerman province, ordered the implementation of watershed management projects in critical areas. in the month of february, 1400 aid workers who put their hearts into the

a deficit, as the government paper that the central bank purchased previously rolls off, the centralhas to almost immediately or the treasury, excuse me, has to reissue the debt was that that is the situation the u.s., every dollar paid off during covid for example is a deposit the disappears because treasury has to go out and refinance that piece of debt, and so an investor buys it. same thing with the money market fund. a money market investor sells their fund shares and goes out and buys t-bills in a fiduciary deposit somewhere disappears, so if you look at the schedule, were talking about half $1 trillion rolling off the banking system between now and the end of the year in the u.s. and part of it it is mechanical which is the treasuries and the mortgage backed to the extent that they repay and they are paying slowly now, it does not impact banks as much and we are not having to go out and refinance that paper, and that is a big difference. haidi: what do you make of the narrative that there is so much cash sitting on the sidelines from just even retail investors who have not put

itself , that some banks to the employees above one billion, so that the central bank published the secret of 10 educations or the representative that is extracted based on the balance of bank employees' facilities in this article increases the principal and increase for each employee , as always, the balance is above one million based on the principal and profit of each the facility that is paid is the percentage interest it means there is a helpless person who is in the hotel of the bank whose balance has been presented. he is completely anonymous. the installment of the payment facility has been paid until the end of 1401. 692 million tomans in state and semi-state banks. one case, if it is more than this , the accounts court and the general inspection organization. the country is present, i will definitely report that it is acceptable and in your opinion, the supervisory measures of the islamic majlis shura bank in the name of allah, rahman raheem, first , let me make a short introduction and get straight into the issues, because there are some points of disagreement with mr

if the government doesn't do anything, if it doesn't solve the policies of the central bank , if the policies of the government don't upset the government financing, then create that piece . i brought up and now the banking law how complete will it be implemented without usury? if there are any shortcomings , as shahid sadr pointed out in the beginning of the book, we have two steps, the first step of the soldier, thank god, so far, this step has been done well, and at that time, the bank copies that were in the central bank of shura farrokhi the next day, the late mousaviyan, may god have mercy on him, i made a lot of good efforts . today, alhamdulillah, things are going very well, but the second step that martyr sadr kitab al-din led by the bank should be considered as a part of that whole islamic complex, in relation to social justice, in relation to the problem growth and general welfare in and other issues that are raised as the high goals of the islamic economy, the bank should move its work towards the same, and as you said, we have progressed in the first step. in the second s

what is the potential for central-bank mistake?ready made the mistake. the mistake was calling inflation transitory went in the end ended up being sticky and that means every central-bank globally was too late in reacting to inflation, too late in lifting rates and causing more damage they may be necessary. that mistake has been made and with that history in mind and the need to restore credibility -- if you are night was sitting at the same table probably have the same thought process, it is better to wait for more evidence before moving to aggressively come especially in terms of making a u-turn, i.e. let us wait for more proof that inflation is coming down, especially in the services sector. guy: wasn't that the mistake last time? they waited too long. isn't there a danger to repeat the mistake? if they become data-dependent are they about to make the same mistake by calling it transitory? now they're waiting for evidence it is cooling down but maybe if it does not go down, they make it worse again. anneka: fair point but i thin

and we look central bank meets. and we look at how a shock _ central bank meets. and we look at how a shock merger— central bank meets. and we look at how a shock merger of - central bank meets. and we look at how a shock merger of the - at how a shock merger of the golf legs could impact the business of the sport. —— league. golf legs could impact the business of the sport. —— league. hello golf legs could impact the business of the sport. —— league. hello and golf legs could impact the business of the sport. —— league. hello and welcome golf legs could impact the business of the sport. —— league. hello and welcome to asia business report and we began a brand—new week and it looks like it is going to be a busy one for central banks from the united states, europe and japan. on wednesday, the us federal reserve will wrap up its two—day meeting to decide on the cost of borrowing in the world's is economy. expectations are high that the fed will hit the pause button but it raise interest rates after ten times this year. policy makers on thursday policymakers from the

we also ask you to contact us at the central bank. we will monitor the situation and analyze the incoming appeals. uh, and i must say that we used to send such recommendations to banks on the restructuring of debts of citizens, who suffer as a result of emergencies . and we have a well-established mechanism for interaction with banks and conventional banks. eh, they work quite constructively in such situations. as for the commission that banks set for transfers in foreign currencies. this is the right of banks, and it is related, we also talked about it. this is due to the fact that hmm banks understand the risks of dealing with foreign liquidity, some of them have restrictions, so in order to mitigate such risks and in order to hmm as a last resort, uh, citizens' funds weren't frozen in foreign currency either. they establish such commissions. hmm , with regard to the calculations of the share of calculations e- imports, and in rubles. uh yes, this process is happening at my fingertips just no data. e exact, what is the percentage the

of facilities for the construction and purchase of residential units will be announced in the central bank's notification to maskan bank. couples in tehran and 800 million tomans, and in the centers of provinces and cities with a population of over 200,000 people, it has increased to 640 million tomans. for other urban areas, the same loan of 480 million tomans has been announced. anthony, in this circular, it has been emphasized in order to help applicants, the possibility of repaying the installments facilities in a stair-step method and according to the request of the applicant, the information on the payment facilities to the employees of the central bank will be published. the governor general of the central bank said that in the continuation of the publication of the information on the payment facilities of the banking network to the employees, the information related to the loans received by the employees of the central bank will also be published soon. he published his own loan to his employees, we will publish it, there is no problem , but let me tell you about the central bank, bec

a huge w for the central banks lie ahead. first up we have the fed, followed by the ecb, pboc, and bank of japan. i am joined by maria municchi, fund manager at m&g investment management. it is clear something happened last week with the surprise from the central bank of canada and the rba. what are you expecting the fed to do this week? maria: the expectation had been for a pause for the fed this week, but what we have seen for this year's and other areas moves this week. we still have data coming in tomorrow, but i think it is very important for the central banks and we know they have been very data dependent on what is happening not only on the inflation side but also the growth side of the situation and in particular on the labor market. the labor market in the u.s. has remained stable. some mixed signals, but overall a robust market. francine: when you take a step back and look at the markets, is the bet still on what happens with inflation, and is there uncertainty about the trajectory of inflation based on the cpi numb

in decades, the world's central bank umbrella body now says that the global economy is at a critical juncture in the fight against inflation. it was the last leg of that johnny will be the hottest bank for international settlement, says the interest rates might need to remain high until 2027. it's called on governments to reduce spending a day increase taxes. the cool price is, and it's one that strong head winds may lie ahead with a material risk of more financial stress, interest rate hikes were blamed in pop for the collapse of silicon valley bank of the us, which led to a weeks long banking term. well. so what's tricky about hiking rates will 1st, let's see how they work. increasing interest rates makes borrowing from banks for carlo. and for example, more expensive. people start to spend less because they'll have to pay more for servicing that, that loans demand for goods goes down. and prices eventually begin to drop, but that flows down the economy. central banks, that writing a fine line between raising interest rates. i'm not hosing their economies. if they raise them too muc

for this purpose, the central bank of the central bank of the central bank should strongly help and supportz al-hasneh, this year, in fact , the national banks of tejarat refah, development cooperative bank and qarz al-hasneh mehr of iran as the bank responsible for this. indeed, we introduced and communicated and through the system of ministry of cooperatives respectable applicants will be introduced to receive facilities, and now if necessary, it is difficult for sahabhi intelligence organizations to pay the facilities this year and the coordination regarding the science of checking the ability of qarz al-hasaneh is actually the clauses of the budget law of each year 1402 the child and the approval of the budget law that we should not give money and credit in the council and based on that we can understand that at the beginning of may , we notified our banking network of the explanation , and we quickly communicated it with our own hands to the banking network that existed at the beginning of the work. possible correspondence banks meetings were held and started, and the performance from

let's talk africa central banks.ng me is our africa correspondent, who probably has just as many airline miles as some of those folks in portugal. great to have you on the set. tell us more about the interest rate hike. jen: it was surprising for a lot of people watching the new central bank governor come out. he has only been in office for a week at this point, and not only did he call a surprise meeting, but he hike to the key interest rate to the most since 2015. from 9.5% to 10.5%. what he said in his statements was this was mainly to anchor inflation expectations. what we've seen in the canyon economy the past few months is inflation has really accelerated. consumer prices accelerated more than expected, to 8%. not only that, but the kenyan president has announced his new budget for the next year, starting in july. a lot of the new budget will be coming from taxes. kenyan consumers are not only facing increased taxes on things like sugar and fuel, but now they will also face price pressures. this was surprising

who went to him and did not announce that the central bank is part of the banking system, and by the, this statistic shows that the number of the central bank is not a significant number . mr. did not publish to his employees farzin, this information will be published soon, we will publish it in the next part of the news of the sed and sima news agency at 5 o'clock, this time, the 13th region was the host of the two project, the 13th project, which is a project that has several sub-project owners, god willing, in the presence of the respected members of the islamic council. we will release the 1401 plan from tehran, those who are so much in the life of 1401, in fact, the evolution has been advanced and 100% progress has been made, and after the incident of 15 years , we are looking for it. sharifi versions were negotiated. and north-east of shah and per capita hashem in the south we have delivered the west and all of it, and on this side and on that side, 17 hectares of 11439 tehran municipality, let's all go ahead and provide the worn-out roads for the sports fields . the next step

i hope the central bank is looking at this carefully. ere is a risk of overdoing it to some extent if you combine high interest rates and tight financial conditions >> and we have seen that in recent bank lending service conducted by the ecb that the demand for loans and supply of loans is falling down. is that also what you are witnessing >> it is a normal reaction by the financial industry we have seen what happened in the u.s. we want to protect ourselves we have the regulator saying don't lend too much. the bank is reacting and protecting the capital of shareholders the point is what does it do to the real economy what is the impact of the higher interest rates and the policies going to do on the companies that's the only thing i'm asking the european central bank to be very careful and not to ignore the second instrument of the policy which is working and we are seeing it is producing reactions by the banking industry >> could it work faster than some of the central bankers think it does so we have sharper contraction in the economy

the governor of the central bank said that in the continuation of publishing information on the payment facilities of the banking network to their employees, information about loans received by central bank employees will also be published soon. central direction of gathering bam has published the bank network to his employees, he has not published his own loan to his employees, we will publish it, there is no problem , but let me tell you about the central bank, because the game is very repetitive, the employees of the central bank are not allowed to borrow from anywhere , tesco keyboard language, 3200 tomans, phase 11 south pars has been installed in its position in the persian gulf by the efforts of iran's oil industry experts . according to the announcement of the ministry of petroleum, 14 wells have been drilled in this phase , the number of which is supposed to reach 27 wells . millions of cubic meters of gas are being killed the killing of a 17-year-old teenager by the french police sparked protests in parts of the country. in paris and the suburbs, the clashes turned violent . i

this is probably, you see the central bank can only be mined by the central bank yes well, right hereis also this platform is provided by the central bank, but it should, of course, well michael question. here we warn you. and from investing in cryptocurrencies with us, trying to earn money there, without understanding how , that is, yes, i fix there is nothing that you bought, and it will definitely not grow. and maybe even fall, and sometimes, it can fall twice. yes, you can imagine if you are ready to endure it is clear that this is not a loss that you fix? yes, here you have there conditionally speaking, there is one bitcoin. it costs 20.000. if it is currently worth 10,000, it is not a loss. that is, just as long as you have this coin. well, i show how a coin, well, in electronic form. yes, on a flash drive you have it written in your wallet, that is, until you sold it, by 10 you would not be so fixed. it's still not pleasant enough. yes, you have this uh, an asset worth 20,000 or 10, however from the tenth year. we observed, well, there, well, a dozen exactly large graphs of lar

guy: we always knew they would come and i think the tricking thing central banks are dealing with is they are dealing with a pandemic, having an effect on what normally would happen, and also policy is working with a much slower effect. the bank of england is experiencing this and all central banks are not getting the speed of transmission they normally would. wendy think we will know if we have made a mistake or not? nour: typically what we know in economics -- economics 101, it takes 18 months -- guy: is that still true? nour: we feel a different ways. there are bottlenecks from covid that eased significant factors in the pce and in the u.s. have come down but you see the cyclical come up and how really a big crisis and the u.k. and questions about in the u.s. and energy obviously. the war in ukraine played a big factor and don't forget we had brexit here. there is a lot going on. and you still have the fiscal arm of things, monetary policy doing what it is supposed to do but we have fiscal aspect of things i can come in and step up and aid those economies if there is need. alix: da

branches in the coming months. and replaced his old checkbook with a new checkbook, the central bank also announced that electronics is a new product that currently offers this service to its customers and other banks are also in the process of testing their products. and with the continuation of this process, what will the doctor do? nik will gradually replace paper checks. the country's deeds and real estate registration organization said that so far 4,700 documents have been issued from the surplus land of government agencies in the name of the ministry of roads and urban development to be used in the national housing movement plan, based on the law of jump in housing production . the government bodies are obliged to provide their surplus land to the national housing movement plan . the high density of houses and being in mountainous areas in some urban areas has led to the lack of land for the implementation of the national housing movement plan in mountainous areas and densely populated areas. above due to the lack of land to implement this as well as possible the national housi

the customs granted by the central bank to its employees should also be published, mr. rian emphasizes, according to the budget law of 1402 and in addition to the transparency of the loans granted by the banks to their employees, the central bank should also clarify the list of loans given to its employees, which did not happen. we have the separation of banks that each bank how much is it, but where are these numbers recorded by the employees of the central bank? the question mark was that the employees of the central bank, who i only have for information , are much higher than what can be received. why am i doing the attached legal assignments of this work because the body of the central bank itself is contaminated in this matter because it is contaminated and they receive facilities that sometimes they can no longer monitor the ribbons . the problem can be solved here. central bank and banks we will follow up on this big facility, god willing, it will come to fruition. in the last three years, the exploitation of the country's religious lands has increased more than 6

as for regulation, the central bank gives financial institutions time to exit from regulatory easing we uh, give banks a long period of exit from uh, regulatory easing, for example, 5 years to restore uh, we are trying to create a separate amount of capital. hmm. comfortable conditions for working with frozen assets, because banks, uh, some have such a problem. uh, here the banks really cannot influence the situation in any way, and we give the bank 10 years to create reserves for these frozen assets, as for the stock market, its development cannot be postponed until better times, although it is already recovering now, the russian economy is oriented towards domestic investors . it is necessary to establish channels of interaction with investors from friendly countries from the disclosure of information, investments will not be so elvira believes on yulina it is necessary to restore publication of reports. even taking into account the risks of sanctions, such information. just need one more question. this is work with frozen assets. the central bank is working on this issue, consideri

central banks are still very committed to fighting inflation. if you look through powell's comments, inflation is clearly still an important factor for the fed and if you look at what central bankers are saying, they have not given up on the idea of getting inflation back down to the 2% area, which is not the case in major countries, u.k. especially is a long way off their target, at 7%. so they are looking at 6% short-term interest rates there. in the u.s., it may be 5.5%. there seems to be some disagreement among the fed members so maybe we do not even get that far as well and it is quite a contrast with what is happening in the equity markets where retail investors seem to be coming back and buying in heavy amounts. that is how he can sustain some big names. a divergence where the treasury key -- treasury curve is going versus s&p and nasdaq. in the end it will probably be a big hurdle for equity markets. when you have five point 5% short-term interest rates in the u.s., that is a big hurdle for equity people to overcome and eventually will co

a big day for central banks worldwide. the bank of england could deliver a jumbo hike after that surprise jump in core u.k. inflation. shery: take a look at how u.s. futures are trading at the early asian session. not a lot of movement after the s&p 500 fell for fell for a thid consecutive session. it might not be too much alike for the moment for investors where we talk about a continuous hawkish rhetoric, valuations are pretty high in bullish positioning is already pretty sweat -- we saw the nasdaq 100, ai related stocks, semiconductors were week. we had treasuries mixed. the two year yield was higher, 10 year yield stable around 371 level. we have a strong 20 year bond option that investors were digesting in today's session. the dollar fell for the first time for gains after three consecutive sessions. that helped a little bit when it came to commodities. it was slightly higher in the new york session and we did see some signals that we could see more demand coming from asian buyers, that helped but it's not being susta

every major central bank out there will be following that path. we may be in for surprise or two. our markets reporters joins us now for more on this. s&p, bank of england, nor just bang all meet today. it's difficult to keep track of, but you've been doing it. >> the snb is the first one to meet at 8:30 this morning. most economists are saying point between eval percent hike, but the market has gone to pricing a lot more than that at the moment. the snb only meets four times a year so the next time they could meet will be in september. perhaps it don't want to miss the next wave of hawkishness and don't want to be left behind chasing their tail in december when the ecb and the fed might be done hiking. in switzerland they don't necessarily have an inflation problem but we've heard from the snb president a few weeks ago saying even though inflation is relatively low, it's not a good idea to wait and i would rather hike or now. so watch out for that one. in norway they meet at 9:00 a.m. economists are split, but it is a slim majority for 25. the ma

the separation of personal accounts is current will be completed in march of last year, the central bank unveiled the system for the purpose of separating personal accounts. 24 banks were connected to this system, and the sixth remaining banks were required to connect to this system by the end of june . 180,000 personal accounts were identified. we did activities they have had business and interestingly, without any information in the country's tax system, methods such as card to card and account rental are among the things that give some economic activists the right to evade taxes. they earn a short period since 1998, the laws of each of them go hand in hand with economic transactions have been clarified and tax justice has been established . this path was mentioned with the identification of 8 million personal business accounts by the tax administration, we have already registered more than 8 million business accounts, and following this path , with the beginning of the operational process of personal account separation in march last year, up to 12,660,000 business accounts are current

>> i figure for the central bank, we are respectful of the economy of the central bank., this kind of voting is very common. when the monetary policy is turning around and different members of the board have their own assessments for how fast they can go. shery: minister mario mar -- mario marcel, thank you so much for your time today while he is -- you are speaking to investors in new york. let's see how the broader markets are trading. anabelle: stick with the central bank theme, of course the focus in the session so far has been on the moves in the japanese yen. taking a look at this chart that weakness that we are continuing to see in the currency, sliding back to the 145 level. what is interesting, this chart issuing the one-month implied volatility, that has been diversion away from the weakness -- diverging away from the weakness. it tells us that traders are not too concerned about the weakness we have seen in the young, even though we had the likes of the top currency chief in japan saying they would react appropriately to respond to any aggressive one-sided mov

that is a very unpleasant situation for the central bank. what surprises me the most in the communication of today, which i found was ok, but what surprised me is that christine lagarde did go into all of the positive factors that we see. mainly the reverse of the number of supply shocks that we have had in recent years. think about delivering a supply chain problem. think about transportation costs. there are many energy and gas prices, so i think, what will make the difference in the coming months is to see if this positive factor supports the economy and at the same time reduces inflationary pressures. obviously, the ecb is convinced that if you don't have the labor market, you are not going to succeed, so add to that, in spite of demand weakening. >> do you think she didn't mention the positive factor because she is worried about financial conditions? she is worried that you get an overly optimistic reaction in financial markets? >> it is a good point. it is a point you see in the u.s. also. if you get positive on inflation, of course, m

which is where it known central bank ever wants to be. redibility point eliminates the point that the bank could pause today and follow the fed. the key transmission, this is to lisa's point about what this does to the economic cycle, we know that only about a quarter of the rate hike impact impulse has passed through into the real economy so far. they should be able to fall back and say we have done 440 basis points of hikes, we still see three corners of that too, and they refinancing cycle but they have not got the credibility. lisa: it seems that people were talking about inducing a hard landing to make the timeframe less long and painful overall. is that still in the zeitgeist or people moving onto the hope of a soft landing that seems to have overtaken most policymakers in the u.s.? simon: i don't ever see -- maybe because my background as a labor market economist -- is what a hard landing, even if you engineer phase, best engineer it, presents a long-term outcome. this is the impact of labor losing its attachment with the labor mark

announcing the names of the banks that are part of the personal account separation system, the central bank has recently connected to four economic banks . navin post bank of sanat and mine and institute caspian credit bank was connected to this system, but still iran's capital bank

the european central bank revised _ balance. the european central bank revised some _ balance.opean central bank revised some of- balance. the european central bank revised some of its - bank revised some of its figures last friday and it said its economy is shrinking ever so slightly. what can we expect them to do with their interest rates? i them to do with their interest rates? , , ., ., ., ~' them to do with their interest rates? , , ., . rates? i believe if you look at the euros. — rates? i believe if you look at the euros, even _ rates? i believe if you look at the euros, even though - rates? i believe if you look at the euros, even though we i rates? i believe if you look at i the euros, even though we start to see a slack in economic data however, cbi still elevated. if you look at the current guidance shares seems to there is still a pepp and the interest rate hike for the potentially another gash. china has a bunch — potentially another gash. china has a bunch of _ potentially another gash. china has a bunch of data _ potentially another gash. china has a bunch of dat

that is, by opinion of the central bank. he will increase. faster than inflation will rise and faster than inflationary expectations will occur. i don't understand what it is at all. that is, this, sorry, i understand very hard, well, how can one appeal to inflationary expectations, well, okay, but for us , military words moreover emphasize that one of the reasons for this or one of the threats is the growth of consumer demand, then what should would dream of any economy. that is, we get with you an increase in interest rates, instead of ensuring saturation and satisfaction of consumer demand, we will begin to reduce it. well, i ’m not a far-sighted person, that is, you can simply explain to me, i understand correctly that these steps by the central bank will lead to a fall, of course, a fall in production in the russian economy. and as a result, of course, the pace, just saving is not even discussed and arises, maybe one of the representatives of the central bank will still come to the program to explain what is happening because so far ther

in— seen emerge across central banks in weeks across the world _ banks in weeks across the worldhe world. �* ., , , world. a reminder that stubborn inflation is _ world. a reminder that stubborn inflation is not _ world. a reminder that stubborn inflation is not just _ world. a reminder that stubborn inflation is notjust an _ inflation is notjust an american problem, while all eyes will be on the federal reserve this wednesday, eyes will go to other areas to see their decisions later this week. elsewhere in the world, time is running out for businesses targeted by hackers linked to a russian ransomware group earlier this month. they have until wednesday to begin negotiations. hackers have threatened to publish the payroll data of those who don't comply. a number of firms, including british airways and the bbc, have been affected. earlier, i spoke with amit yoran of cybersecurity firm tenable. and he explained what companies should do. i think the important thing is for organizations to understand whether or not they have been compromised to engage with local law enforcement to un

>> do all central banks have credibility? i think they have gone up and down and with the european crisis and pandemic and they have come in to save the european rates from blowing up. so i would say they have respectability but they are stuck two something that is not in their control but things are getting better. we are seeing progress. guy: we are getting there very slowly though. >> yes, it is very sticky and that is something all central banks were afraid of sings they are less flexible in europe and we are seeing the changes. i think it will be a slow move toward getting it back to 2%. we will have a time when it will be much above headline inflation but we are also in a time where central banks are ready to pause it see what is next for them. they have suggested that the key impact of their policy will be 2023 or 2024 more related to mortgage payments. alix: does that mean we get to 4% and is that like a 6% for the fed? >> i think e.c.b. has been pretty clear even when we had the banks crisis that we have room to reco

it's been all about central banks this week.the fed yesterday, there hawkish dot plot was perhaps overshadowed by a more dovish press conference. riccardo trezzi called it confusing. it was a mixed message that left u.s. equity markets roughly unchanged on the, because of course they would end on the green. it's always remarkable to see the resilience of this market. let's go to valerie tytel. i love this. some are calling the higher dots aspirational. what does the market think about this? >> when i saw that written on bloomberg yesterday, i left. the fed's dots are aspirational because no one believed they might actually be used. the market did reflect that yesterday after this dovish press conference. this blue line is showing you where the median dot is on that fed forecast, coming in a 5.6 yesterday. they raised it by two hikes. sounds like a hawkish message, completely unexpected. the market did not believe it. the market price terminal rate did not move up that height and to year yields did not move up that much higher ei

the central bank has into governor. .does her appointment signal for president erdogan's monetary policy plans? we discuss on bloomberg. ♪ when i was his age, we had to be inside to watch live sports. but with xfinity, we get the fastest mobile service and can stream down the street or around the block. hey, can you be less sister, more car? all right, let's get this over with. switch to xfinity mobile and get the best price for 2 lines of unlimited. just $30 a line per month. i should get paid more for this. you get paid when you win. from xfinity. home of the 10g network. manus: good morning from bloomberg's headquarters in the middle east. i am manus cranny with the stories that set your agenda. deflation risk. china cpi holds near zero in may as producer prices slide, fueling the calls for the pboc to cut rates. asian stocks push higher after the s&p 500 enters the bull market. the new governor, president erdogan upends a -- appoints a new head of turkey's central bank, which may signal a return to traditional monetar

money and credit council, the vice president of new technologies of the central bank says that this bank has submitted its proposals to determine the credit limit for check book applicants to the money and credit council, and the implementation of this section of the check law is pending the approval of the new check bank law by this council. he obliged the center to set a credit limit for check book applicants so that each person cannot issue checks beyond his financial capacity. the executive can prevent the phenomena of check books for people who are sleeping cartoons and addicts and the abuse of these checks in the street. shush, they took a shed, collected a series of trash pickers and opened an account for them, opened a current account, then opened a current account, the access road, taking 50 pages, then 100 pages . i ate all the checks and signed them when i signed them on february 90 giving millions of tomans of money and leaving it in my own house, the problem started when the banks , without checking the financial status of people, allowed them to issue multiple checks to a c

i form of a central bank currency-— form of a central bank curren . ~ ., ., ., currency.currency. i know there are a lot of forums going - currency. i know there are a lot of forums going on - currency. i know there are a lot of forums going on at. currency. i know there are a | lot of forums going on at the moment, a lot of conversations going on amongst the people that you know about how this might work. what there has been prioritised in terms of a possible design? through the diuital possible design? through the digital pound _ possible design? through the digital pound foundation, - possible design? through the digital pound foundation, we | digital pound foundation, we can see there are a whole variety of challenges and explorations with regard to a well—designed digital pound looks like, and we have two make sure that it is very well thought through, and understandably, the public are concerned in regards to what this means, the pregnancy, for example, the bank of england made it absolutely clear they are interested in what you are spending your digital pound on. t

indonesia and the philippines will host central bank meeting.big changes are expected because prices there have not risen as quickly as other parts of the world. but it's likely to be a different picture for turkey, which saw inflation hit a 24—year high last year. the turkish central bank is expected to hike its rate later today. earlier, i spoke with oxford economist alex holmes, who gave his take on how authorities might move. the hopes are the new finance minister and new governor, it means orthodox policy pivot from the bank. eventually rates getting up to 25% over the next six months from 8% now. it would still leave real interest rates when you account for inflation and it might not be enough to stem the lira's fall. that's an eye—watering amount. let's turn to southeast asia where we're looking at indonesia and the philippines, who said they will hold steady for the year. what are we looking at in terms of indonesia? indonesia hasn't given much in the way of guidance, it doesn't usually. inflation there is better than the philippines, it

coming up in the program we will continue the central bank conversation as banks step up there inflation fight. we will take a closer look at the global battle to tame prices. that is next. this is bloomberg. ♪ how can you sleep on such a firm setting? gab, mine is almost the same as yours. almost is just another word for not as good as mine. the queen sleep number 360 c2 smart bed is now only $899. plus, 48-month financing on all smart beds. shop now only at sleep number >> we came to the conclusion but an increase of 25 basis rings is better at this moment. it also clearly indicated that there likely could be more hikes. we have a kind of approach and from a risk perspective it was considered better to only increase by 25 basis points rather than 50. >> we have to have price stability and we have raised interest rates to do that. we have seen strength in the economy. the economy has been more resilient and it is stronger and we have lower unemployment. but inflation is looking more persistent. there are signs of it being more persistent. i thought it was right that we took this decisiv

, which is supervised and supervised by the central bank and regulated by the central bank.ork of this registry, companies must register in order to prove their economic model, as it were, the business model where they put their funds, if this is a broker broker dealer, then a dealer bank, microfinance organizations, no questions, but in the legal field, we say that if there is mass advertising, then this is a professional activity. so, you must be registered in the register of the central bank. these organizations will be allowed to attract the mass funds of citizens, and the rest will, er, from this. well, protected, that is, it will be me, uh, legislative field. i know his proposal to create a system of price indicators in russia. here's how it will help, uh, business, including and financial market of our country. and you know we have created. a very good financial infrastructure, payment infrastructure, the national system of payment cards, the system of fast payments are working and the exchanges are functioning efficiently. uh, rating companies and when we are in the

agustin carstens, the former governor of mexico central bank -- mexico's central bank, and i would likehanks to sherry ahn. this is bloomberg. ♪ oh booking.com, ♪ i'm going to somewhere, anywhere. ♪ ♪ a beach house, a treehouse, ♪ ♪ honestly i don't care ♪ find the perfect vacation rental for you booking.com, booking. yeah. guy: this week compared to last week, similar ingredients but added geo policies into the mix. we have the geopolitics, russia story, central banks. tomorrow, the ecb and a life inflation data to the back end of the week so we start off in a reasonably cautious tone. a lot coming up. a lot for markets to think about forgetting where you are seeing price action today is in defense stocks in europe. one of the stocks trading lower today, this on the potential shift that we could see on the battlefront in ukraine. a number of u.s. stocks as well on the move. the german 10-year down a little bit. weaker data earlier on pointing maybe to a dismal outlook for the german economy. we will talk about this in the next hour. what does it mean for europe? we have some great gues

guarantor of the subsidy account of 80 million, we don't have a guarantor , yaran mashhad account and central bank's answer , the bank's customers are among my wives who object to the performance of the banks in this regard in iran. first, to the complaint inspection unit they should refer to the bank, but the director general of social development of the ministry of sports and youth informs about the follow-up of the issue, which we hope will happen in 1402 with the cooperation of banks, especially in the field of guarantees and sureties, which should happen with the announcement of the honorable head of the central bank for subsidies and shares. the justice that the dear ones themselves announced that he can be made military, we are also following up through the supreme youth council , we have sent the names to the president so that we can follow up on this, god willing, but we are still following up on this matter from the supreme youth council, yasser rahimi news agency. ferma tv reported to you the problems that our young people are facing with the loans and facilities that shabgir is supposed

bank president says the central bank -- bundesbank president says it will keep rates. n slips after the bank of japan keeps its ultra-loose monetary policy. governor ueda repeats the boj can and stimulus if needed. bloomberg understands that micron is kneeling -- nearing a one million-dollar investment in india. they have announced expansion in china despite beijing cracking down on it chips. we are following the press conference of the new governor of the bank of japan. he said there is a big shift in price view and that may lead to policy change. everything else is what we were expecting but we are looking also at what that means for the yen. the dollar-yen is 141. 23. we will watch the press conference closely. it is 4:30 p.m. in tokyo and we will bring you more breaking news from that. when you look at the markets overall, they are trying to shift and really absorb the big week for central banks that we have had. the other two stories i would watch out for is the inverted yield curve between the u.s. german 2-year yields. it is nothing huge. the inversion is to leve

in this report, we presented that the central bank in in fact, the foreign currency required for the import of medical equipment and the allocation of life was not done on time, but in this report, the central bank has been asked to take the necessary measures in this regard . there is a monitoring fast of the parliament. air pollution should actually be read in the open court, today's report about the activities of other organizations, that is, rejecting requests for research and investigation from the organizations, is going to be announced, the warehouse related to the association of lawyers whose request was raised in the public court the islamic council of the ministry of oil announced that it would provide a discount in the price of crude oil, delivery to refineries is subject to the implementation of quality improvement plans . accordingly, the purpose of the decision to reduce fuel oil or fuel oil is to produce high-quality and more valuable petroleum products. it was discovered that 25% of the crude oil delivered to the country's refineries , according to the statistics of t