only bank that continues to do so, while the british people are still facing the ever-increasing prices of food and energy, and i hope this is the last action of the bank the central bank of england should increase the bank interest rate, director general of cultural heritage, tourism and handicrafts of chaharmahal and bakhtiari said that since the 15th of march last year, nearly 27,000 travelers stayed in the tourist centers of this province, during this period, more than 500,21,000 tourists visited historical attractions. cultural and touristic chaharmahal and bakhtiari have visited chaharmahal and bakhtiari, one of the central provinces of the country, the mountain province, look at the weather. go to isfahan, first look at isfahan, go to tehran , then you will understand what i am talking about. karabashkan mountain honey and local vegetables of mazandaran, bakhtiari mountains, among the beetroot , mountain garlic in celery, these are considered souvenirs of the organization. it has a pleasant aroma and taste, and they like colorful foods and killing friends. aside from handicrafts, they also have something to say. senai like felt from chaharmahal and bakhtiari provinces are

you for fear of receiving heavy energy bills, the increase in bank interest rates is not aimed at controlling inflation, but this is the usual practice of the bank of england. the centralk prints money around 300 billion tomans to finance rishesh sunak's job program, this is one of the reasons for the sharp and permanent increase in inflation. the bank of england is acting in a wrong, advanced and very slow manner. he continues, while the people of england are still facing the increasing prices of food and energy, and they hope that this is the last move by the central bank of england to increase the bank interest rate, but in this situation , the british authorities finally made it a significant number of people who they are employed in the police and have the necessary qualifications this confession came after the disclosure of numerous cases of crime and corruption in the british police force, and it has been known for months that the disclosure of crimes and corruption in the british police force had led to widespread protests in this country, the rape and murder of the british police officer. and the burning of a corpse in the hand, as well as the disclosure of 70

central banks have launched a co—ordinated response to keep credit flowing after an unsettling period in the us banking sector and the credit suisse rescue. six central banks, including the bank of englandoost the flow of us dollars through the global financial system. our business reporter jonathanjosephsjoins me. what more can you tell us about the central bank response and why they think it is the right move? what central bank response and why they think it is the right move? what the central bank — think it is the right move? what the central bank response _ think it is the right move? what the central bank response is _ think it is the right move? what the central bank response is about - think it is the right move? what the central bank response is about is i central bank response is about is trying to make sure there are enough dollars in the right place at the right time to insure —— to assure that investors their money is safe. investors typically try to move their money into us dollars because they are regarded as the safest in terms of investment opportunity. they have the us government behind them, and that is regarded as something that will make sure that they do get their

a number of countries of central banks are working together to provide stability. six central banks including the bank of englandnounced they would boost the flow of u.s. dollars to ensure a steady supply of cash. the european central bank is the central bank of the 19 european countries have adopted the euro. here is its president christine nygaard. -- legarde. >> we are monitoring market develop as closely and stand ready to respond as necessary to preserve price stability and financial stability in the euro area. the euro area banking sector is resilient with strong capital and liquidity positions. in any event, the ecb's policy toolkit is fully equipped to provide liquidity support to the euro area financial system. kasia: despite these assurances, many are concerned by the volatility of the banking sector. >> markets first opened this morning, quite jittery. we saw some heavy falls in european banking stocks across the board. credit suisse shares fell heavily there was also a decent amount of weakness in, for example, deutsche bank, the french banks. that has calmed down a little and it is too soon to be ma

the increasing prices of food and energy and they hope that this is the latest move by the central bank of england in increasing the interest rate , but in this situation, the british authorities have finally made a significant difference. of the people who were employed in the police, they did not have the necessary qualifications at all. this confession came after the disclosure of numerous cases of crime and corruption in the british police, and we are concerned that the disclosure of crimes and corruption in the british police force has led to widespread protests in this country instead of kidnapping . rape and murder, get the standard of the officer the british police and the burning of the body in their hands, as well as the disclosure of 70 crimes, including 22 rapes, david kari, the chief officer of the british police , forced people and civil institutions to react. this behavior is also present in other countries, which shows that when corrupt people he has the power, they have more time to commit their crimes and it is always difficult to find them. the disclosure of a chain of crimes in

the global banking system is under a lot of pressure, central banks of the federal reserve, the bank of englandd others, they are raising interest rates very aggressively, and they have been for the past year, and that puts a lot of pressure on the banking system, and it has come to a head here in the last couple of weeks with a couple of failures here in the us, and of course the emergency rescue of credit suisse, the big swiss investment bank by ubs, and i was just going to say, you have investors that are just very nervous, very skittish, stock investors, bond investors, and any creditor in these institutions arejust watching this and are on edge, and i think this is what we are seeing in the trading action. do you think these nerves are a direct response to what we saw with those interest rate rises in the us and here in the uk, because there was talk about perhaps a steadying of interest rates, but then we saw inflation figures are a bit higher here in the uk, and they ticked up a little — do you think that was a direct response? it's hard to know. it can't help, right. raising interest ra

bank of england. this is emblematic of other central banks. maybe a little less hawkish, but the central banks -- are they done? is the bank of england done or is there further ground to cover ? >> i think with inflation, the battle is not over yet. we don't know that. it is very much about what the bank of england should do versus what they will do. i think what we heard today as they are not looking for reasons to stop. they did move the hawkish sentiment made they didn't vote for a 50 basis point hike this time. they skewed the risk to the upside, so they are looking for reasons to stop. we get a bit of data that might be appropriate to stop this, but we have a private sector regular wage at a flap -- flat month. vacancies with inflation expectations from consumers and businesses are falling as well. we are not confident enough to say they cannot because those things. >> does that mean if we take that view, the boe and the fed seem to be looking for reasons to be done, which is different from say, the bank saying they have acceleration of in

the deal�*s been widely welcomed, including by the bank of england, the european central bank and in us. switzerland's central bank wanted to prioritise financial stability and protect the swiss economy. here's the chief executive of ubs. translation: it means we bring back stability _ translation: it means we bring back stability and _ translation: it means we bring back stability and security - translation: it means we bring back stability and security for - back stability and security for credits suisse clients and also we keep the reputation of the swiss financial centre either. and finally means we the international financial markets, these three goals are very, very important to us. we are building a big ubs with la —— less risk appetite. credit suisse has been struggling with a series of challenges for a long time but why did it fall into such a deep crisis so quickly? here's our business editor simonjack. credit suisse became the biggest and most important casualty of a situation that has already seen the failure of two mid—sized us banks, silicon valley and signature bank, an

now a number of countries central banks are working together to provide stability. six central banks, including the bank of englandlars, to ensure a steady supply of cash. the european central bank is the central bank of the 19 european union countries which have adopted the euro. here's the bank's president, christine lagarde. let me also remind that we are monitoring market developments closely and stand ready to respond as necessary to preserve price stability and financial stability in the euro area. the euro area banking sector is resilient with strong capital and liquidity positions. in any event, the ecb's policy toolkit is fully equipped to provide liquidity support to the euro area financial system. despite these assurances, many people are concerned by the volatility of the banking sector. here is katie martin, from the financial times. its first open this morning was really quite jittery. we saw some quite heavy falls in european banking stocks pretty much across the board. 0bviously credit suisse shares fell very heavily, but there was also a decent amount of weakness in, for example, deutsche bank and

the bank of england has become the latest major central bank to increase the cost of borrowing.e inflation, the rate at which prices are going up, continues to be consistently high. the inflation problem is worse in the uk than other g7 countries. food and energy remain two of the biggest contributors. its main interest rate has gone up from 4% to a.25% which is the highest its been since the peak of the global finance crisis in late 2008. and it's a similar picture in other parts of the world withjordan, norway, the philippines, taiwan and switzerland also increasing the cost of borrowing today for similar reasons. and all of them are following the us federal reserve which increased rates by 0.25% on wednesday despite the turmoil in the banking sector there. more on our website and you can keep up more on our website and you can keep up with the latest business news live, seven days a week and 2a hours a day. more now on sri lanka as we were reporting earlier this week it secured a $3bn bailout from the international monetary fund as it faces its worst economic crisis since ind

of uncertainty in the world. i want to talk broadly about central banks. we saw the swiss central bank hike 50 points despite what they saw withp,■ credit suisse. bank of england is relatively ahead of the curve. banku■ of england is fari] up t, too. in e1general, we are not playin catch up. what does matter is central banks are combining the same çó problem. the inflation problem and the bank of england was hit strong by the inflation report. that is a common themee1 across the markets. we all thought inflationçó woul start to fade if supply chains started to heallp and goods that is starting to happen, but we are seeing now the sticky inflation. services inflationñr has beensáu that is a common challengei] across the central banks. ing -- something they are eyeing. >> and fightingq the inflation s priority. ryou. >>> turningq attention to developments in the crypto space. including coinbase. shares slide in the pre-marketç as it■ç■ faces aok fresh warninm the s.e.c. over action.w3 looking at shares now down 10%. arjun khapal joins us from paris. arjun, we see cryptocurrency up right now. what is going on with ftx ande1 other things and crypto crash egultory

central banks endorsing credit suisse's bio by ubs. u.s. treasury secretary janet yellen and fed chair the news and said capital and liquidity of u.s. banks is strong. the european central bank and bank of englanddorsed those moves. signature bank deposits have been taken over and some of their loans. they collapsed earlier this month. 40 branches will operate at flagstar bank starting today. the fbic -- fbic has it valued at $40 billion. jump' is claim that he will be arrested tuesday -- trump's claim that he will be arrested tuesday has supporters. the rupee union set to agree on a plan to send ukraine million artillery rounds over the next year. the foreign defense ministers reaching a new -- an agreement. global news 24 hours a day, online and at quicktake on bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm lisa mateo. this is bloomberg. ♪ get help reaching your goals with j.p. morgan wealth plan, a new tool in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside and the other goals along the way wealth plan can

and this has been the cause, not just of the bank of england, but central banks generally suffering fromy thought they were so clever that they could trump historic rules of economic outcomes and likelihood, and they suffered from no democratic control. they felt they could do whatever they liked . the politicians would liked. the politicians would take blame. well, we don't believe that here on gb news. we believe that here on gb news. we believe the people know best, which is why we're always asking you for your views. voice of the people is the voice of god. so please in touch, which is what we always want you to at mail mogg at jb news give me your views and i will read them out. but i'm pleased to be joined this evening by financial journalist laurie lad . laurie journalist laurie lad. laurie thanks, jacob. it is very good of you. why has the bank of england got it so wrong? and why has it had to slam the brakes on so abruptly ? but the bank of so abruptly? but the bank of england has it wrong in so many areas and. i think it's a little bit unfair to criticise the bank of england ce

of two smaller american banks, the problems confronting credit suisse had sparked fears over the global financial system, leading six central banks, including the u.s. federal reserve and bank of englandnnounce new measures to keep cash flowing. joining us now is our new york business reporter, michelle. given switzerland's reputation as a safe banking -- safe haven as far as banking is concerned, how much of a shock was it that ubs is coming to the rescue of credit suisse? michelle: we all started paying attention when silicon valley bank in america began to fail. that was considered a regional american bank but it wasn't considered too big to fail, a term that came to prominence in the 2008 financial crisis. that changed with credit suisse. when it came under pressure, the calculations across the board from regulators and central banks to investo, there was a sense that this is a bank that is too important systemically, too important and vital. it is considered the 13th most important institution in the world. it could not be allowed to fail. you saw the shotgun marriage hastily arranged by swiss authorities, and it was vital to maintain stability in the global financial system. dav

the fed and five of the biggest central banks in the world, the bank of canada, bank of england, the uropean central bank and the swiss national bank are boosting their swap lines. swap lines are one central banks provide to provide dollar liquidity. clearly a coordinated effort which is a global funding market. they are saying they are going to -- they are conducting weekly operations. now you can open that swap line, call on it every day. countries where they fund -- they may have dollar-denominated debt and there is a dollar shortage, a squeeze on the clearly, how can they get it? this is how they can get it. this is a big thing they can do. it still does not answer the question what will happen in the u.s. with republic bank and the divvying up of the sbb but it is a big step. >> we are just hearing from the japanese finance ministers, they are speaking in tokyo saying they are carefully watching central bank liquidity in the -- enhancements. they will be examining how the credit suisse deal will impact japan. we know they have been having -- they have had their worst week since 2

of two smaller us banks, silicon valley and first republic, the problems confronting credit suisse had sparked fears over the global financial system, leading six central banks, including the us federal reserve and the bank of englandflowing. let's speak now to david woo, former wall street strategist and imf economist who joins us from tel aviv. thank you forjoining us on the programme. we were looking at what happened overnight in the us, it seems that all major indices were up and people were feeling confident but people also expecting another shoe to drop? but people also expecting another shoe to drow— but people also expecting another shoe to strep?— but people also expecting another shoe to drop?— shoe to drop? listen, i think you are right. _ shoe to drop? listen, i think you are right, markets _ shoe to drop? listen, i think you are right, markets are _ shoe to drop? listen, i think you are right, markets are up, - shoe to drop? listen, i think you are right, markets are up, but. shoe to drop? listen, i think you are right, markets are up, but i. are right, markets are up, but i think the big story that is not basically being talked about is the fact that of course, first republic bank is down 15% today. i

of the 2008 financial crisis. we have seen the european central bank and bank of england trying to reassure investors that there isg there is no liquidity problems and the financial system so all in all trying to reassure investors that are no further problems and that credit suisse's problems are isolated because it has had a long list of its own problems. in because it has had a long list of its own problems.— because it has had a long list of its own problems. in the us, there are some speculation _ its own problems. in the us, there are some speculation could - its own problems. in the us, there are some speculation could we - its own problems. in the us, there are some speculation could we see its own problems. in the us, there i are some speculation could we see a couple of smaller regional banks run into trouble but we have seen very swift action again. whether that is containable. swift action again. whether that is containable-_ containable. that is the key question. — containable. that is the key question, that _ containable. that is the key question, that is _ containable. that is the key question, that

of bank mellat's work to england . spacey bank, with the support of the government and the central bank of this country , bought the branch of the bankrupt silicon valley bank, so that the capital of english companies in this bank would not be lost. our knowledge base and technology in silicon valley bank has deposits, that's why we were in contact with the central bank officials of the legislative and modernization institutions and we reached the solution of selling this bank's branch to spacey bank. silicon valley's stock value on the london stock exchange decreased by 258 at the end of monday's trading. mojtabi ghasemzadeh of the london sed and sima news agency. however , regarding the bankruptcy crisis of american banks , i would like to tell other banks in the world, especially in europe, mr. dr. sasan shah veisi, an expert on the issues. international economy, dr. salaam, good time, and also the biden government to contain the effects of the bankruptcy of two large american banks, the worries of repeating the recession of 2008 in the united states and becoming the poster child of other banks continue until today. va

of two smaller us banks — silicon valley and first republic, the problems confronting credit suisse had sparked fears over the global financial system, leading six central banks — including the us federal reserve and the bank of englandme now is our new york business reporter michelle fleury. given switzerland's reputation as a safe haven as far as banking is concerned, how much of a shock was it, the news that ubs is coming to the rescue of credit suisse? i think ou the rescue of credit suisse? i think you need to _ the rescue of credit suisse? i think you need to go _ the rescue of credit suisse? i think you need to go back— the rescue of credit suisse? i think you need to go back to _ the rescue of credit suisse? i think you need to go back to when - the rescue of credit suisse? i think you need to go back to when the i you need to go back to when the micro where this started, when silicon valley bank in america began to fail. that was considered a regional american bank, but it wasn't to fail — a term that really came to prominence in the 2008 financial crisis. that power changed with credit suisse, when it came under pressure, the calculations across the board, from regulators and central banks to investors, the

central banks going to deliver the same message? we have the fed coming up on wednesday. we have the bank of england and the swiss national bank. . this comes back to our question, do you by the dip or sell the rip? in order to answer that question, you've got to know what the essential banks are going to do next week. elaina, great to see you. the ecb delivered 50 basis points because it was worried if it didn't they would send a message about concern surrounding the financial system. you think jay powell will deliver the same story next week? >> i think the narrative will rhyme but it won't be identical. in the past weeks develop and's have shown a need, not just for banks but for policymakers to take a care for risk management approach. the ecb was careful with financial stability. the ecb counseled further rate hikes. it counseled the earlier guidance and made it conditional on one of the three conditions it stated. so, what we have seen in the last week is an enormous amount of volatility. not just in bank capital, not just in the u.s. or switzerland. also in government bond yields. the financial system might be sound but i

we don't want to forget the bank of england was one of the first central banks to increase rates backthe end of 2021. they had been doing that for 10 or 11 times consecutively and guess what? inflation is still higher than analysts were expecting. this is a great example for central bankers of what they are fear may become as soon as you think the fight against inflation is over, we might not be there yet. tom: there is that persistence around inflation, yet the yield curve suggests recession is imminent. parts of the labor market are looking softer around the edges, even in the u.s., and it has come down, it is persistent, that is the argument for cutting. you are not convinced, but there will be concern about policy mistakes in this environment particularly if you factor 1-2% tightening equivalent from the banking crisis, there is potential for a policy misstep. giulio: that is why central banks are so focused on the data coming in. the retail banks and commercial banks helping monetary tightening is part of the game to some extent. that is being raked in by central banks. the fact

now the bank of england and five other central banks have taken coordinated action to ensure banks haveof cash. but concerns that other lenders could get into trouble and create a 2008—style banking crisis haven't gone away. this should not be 2008. 2008 was a common problem through the banking system, bad assets that virtually everybody owned. this started out as isolated problems. the policy response is turning it into something more systematic. so should banking customers here be worried? analysts say for most people there is no cause for concern just yet. if you've got savings in an account with a bank that has got a banking licence, up to £85,000 per account is guaranteed by the financial services compensation scheme, and forjoint accounts up to 170,000. 11,000 people work at credit suisse and ubs here in the uk, and amid all the turmoil, theirfuture is very much up in the air. theo leggett, bbc news. almost 400 hotels across the uk are being used by the government to house more than 50,000 asylum seekers. seaside resorts, airports and even retirement villages are among the locatio

swaps announcement should the five major central banks are widening, boosting the availability to the dollar swap lines. the fed with the bank of canada, bank of england, bank of japan, european central bank, they are going to do these swap operations every day. when there are times of financial distress sometimes the accessibility to dollars, to finance funding can get rather strained. that is what they are trying to avoid. it will help them have the dollars they need. reassuring everyone the fed is on top of that. the other central banks are on top of the and they're going to help everyone move forward. david: kathleen hays. our global economics and policy editor. what time is it? 10:00 a.m. on a monday. oh no. why does this feel familiar? other things happening in the world. rishaad: let's have a look and check in with the first word news. chinese president xi jinping starting a three-day visit to russia. in article he says it is important for relations to remain at a high level. that looks set to dent any hopes of support for beijing to broker an end to the war in ukraine. golden sex edging death -- goldman sachs reaching $94 billion a barrel. $97

the bank of england last autumn is a good example. central cannot do that for all asset classes. as regulation increases, more activity is going to move out of banking into shadow banking. there could be surprises lurking for us there. alix: that does it for amber kanwar and myself come alix steel. this is bloomberg. ♪ so... i know you and george were struggling with the possibility of having to move. how's that going? we found a way to make bathing safer with a kohler walk-in bath. a kohler walk-in bath provides a secure, spa-like bathing experience in the comfort of your own home. a kohler walk-in bath has one of the lowest step-ins of any walk-in bath for easy entry and exit. it features textured surfaces, convenient handrails for more stability, and a wide door for easier mobility. kohler® walk-in baths include two hydrotherapies— whirlpool jets and our patented bubblemassage™ to help soothe sore muscles in your feet, legs, and back. a kohler-certified installer will install everything quickly and conveniently in as little as a day. they

bank of england. so this is really central banks are making big errors, essentially raising rates too fast, having an bviously think of the uk, think about what is happen there. you raise rates, that has impacted people who have tried to take out new mortgages, that has impacted people's ability to pay student loans. the chancellor has put in an austerity budget which hurts people and it hurts small firms, so small firms default on their loans, student loans, people default on those... danny blanchflower... so people default on those... danny blanchflower. .. so this is 'ust danny blanchflower. .. so this is just spreading. _ danny blanchflower. .. so this isjust spreading. thank- danny blanchflower. .. so this isjust spreading. thank you | isjust spreading. thank you for our isjust spreading. thank you for your insight, _ isjust spreading. thank you l for your insight, unfortunately we have to leave it there. £31 we have to leave it there. of course. thank you. let's get some of the day's other news. the pentagon has released a video of what it claims is part of tuesday's incident between a us drone

problem the united states began to hysterically inject personal dollars into foreign central banks into the bank of englandbank bank japan's swiss national bank has already channeled hundreds of billions of cash from the federal reserve. the goal of the united states, of course, was to support liquidity or simply to avoid a complete loss of investor confidence in the dollar, to try to prevent an impending collapse, one must understand that the us financial system has not seen such large-scale measures, for at least 10 years the americans' anxiety was provoked, of course, by the collapse of the swiss tradition. one of the thirty largest banks in the world collapsed on it was urgently swallowed up by show jumping ubies, and everything, as we remember, with the collapse of two large american banks. but these are the flowers of another 50 american banks under the threat of collapse. lawrence mcdonald, the former president of the laman financial corporation, brothers, told about this - this is a very alarming bell in the bankruptcy of banks. mcdonald's knows a lot about the ruin of the lemon brothers , the cris

indicated by the speed with which the treasury federal reserve system united states bank of england european centralank. today, as if on command, they supported such a decision, in general, the stock exchanges have reacted weakly so far and, by inertia, the asian sector continued to fall. rosobrnadzor will simplify the procedure for licensing and state accreditation of educational institutions that the period for considering applications for obtaining a license has been reduced from forty-five to five working days , the head of the department told mikhail mishustin. anzor muzaev, the meeting also discussed the integration of educational institutions in new regions. there is now a system temporary licenses that will allow them to gradually enter the russian education system up to the age of 26 to raise the level to the general standards. schools are different integration of educational scientific institutions of new territories that have joined the russian federation in the russian legal space, a lot remains to be done in the field of preparation and regulations of acts and legislative changes in iss

last meeting which seemed a long time ago, the start of february that the bank of england was the clearest of the major centralg that it was close to the end of its tightening cycle and that further tightening would depend on the data being stronger than expected either on the inflation or activity france. i think it is a close call. lisa: do you think that if they do hike they will indicate as jay powell did, at least this was how he was read in the markets, that they are at the end of the cycle and it is just when they start cutting. jennifer: it will be dovish and similar to what we have seen from the fed. the bank of england is that a few of its rate hikes have been on the dovish side and this one will not be different because there are clearly big risks to the economy in the u.k. and those have intensified with the turmoil in the banking sector and there is a big chance that credit conditions tightening aggressively in the months ahead and the bank of england will have an ion that and the implications of the future and a lot of commentaries are trying to separate. central banks are trying to do that and s

and although some central banks, notably b b and the bank of england both said we would honor the existing ranking. i think people, i really not too sure what's going to happen and what this means for bank resolution in future. now, protest against the french government's bill to raise the retirement age of forced the postponement of a state visit by the british monarch french present manual icons as it would lack common sense for king charles to visit the country. in the middle of these protests under the police were injured as more than a 1000000 people demonstrate around the country. on thursday. as i shall march reports now from paris, streets littered with burnt garbage and broken windows. as the cleanup began, the day after a pension reform protest in the city descended into chaos. paris his mare said she understood people's frustrations, but criticized some of their methods. you'd oscar will golden violence that we condemn that i condemn distracts attention from the main issue, which is that most french people want the withdrawal of the pension reform. oh, some protesters and police

if i was thinking about a central bank already thinking about a pause, it would be the bank of england you think what we have just seen mixed at almost a certainty and if so, what does that mean for guild pricing? pooja: i think in the u.k., we are basically tracking the moves in the u.s.. the markets actually put in hikes from the u.s. as they have been reflected in the gilt market. the entire situation in svb -- i think the risk is reduced in the u.k. possibly, we do see a hike. i doubt we will see further hikes. i think the key is how long. the conditions that are seen across countries, the on up limit rate is at the lowest we have seen. that means -- guy: we are going to leave either. thank you very much indeed. joining us now, the evercore chairman emeritus. you are the perfect person to talk to on a day like today. thank you so much for making some time for us. you have seen a number of crises before. how do you rate this one. what is going on? ralph: last time i was on your show i said there was a huge amount of uncertainty, more than i have seen in 40 plus years of finance. it

central banks? laura: that is aligned with our base case in the sense we think the bank of england is likely going toe the first to cut their policy rates among g10 central banks later this year. in contrast to the fed on the ecb where we do expect rates to remain restrictive, are anticipating a q4 easing to come through in the boe, which is a different narrative. at this point, it is about how to position portfolios in that type of environment. it is the one region where we are getting more comfortable in taking duration exposure, potentially seeing that can bang -- that 10 year yield level get back to levels as long as we see inflationary pressures ease month on month and looking at the short-term credit exposure in the u.k. for gdp based investors. you can get an attractive income at the fraction of the duration risk of full duration. there are ways to position portfolios despite the fog of uncertainty that is facing markets right now. dani: thank you so much. really great to catch up with you today and enjoy the rest of your friday and your weekend. laura cooper, blackrock senior investment strat

chancellor meets the governor of the bank of england to discuss the collapse of silicon valley bank, which mostly financed tech start—ups. thousands of protestors gathered in centralunior doctors ahead of three days of strike action planned to begin on monday. frankie mccamley reports from today's support the strikes march. whose nhs? our nhs! between the strikes, a march of solidarity. i work in mental health, which is still an under—invested service. people are still suffering. people are waiting for years and years, and just don't believe the lies, there is no new money coming in. and we have to be here to just defend those people who can't defend themselves, who are, you know, vulnerable and weak. i've been working in the service for eight years with an ambulance service. for me personally, it's more about the red tape up the top, the changes at the top, which are affecting us on the bottom and is preventing us from providing the care that we want to provide to the people. it's notjust nhs workers here. many are patients showing support. well, i would be dead at two if it hadn't been for the nhs because i was born two years before the nhs was born and i had do

bank of england. so this is really central banks are making big errors, essentially, raising rates too fast, having anks, and obviously to think in the uk, think about what is happen there. you raise rates, that has impacted people who have tried to take out new mortgages, that has impacted people's ability to pay student loans. the chancellor has put in an austerity budget, which hurts people and it hurts small firms, so if small firms default on their loans, student loans, people default on those... danny blanchflower speaking a little earlier. french riot police have used tear gas and water cannon to clear thousands of protesters from the streets of paris. the protests started after president macron forced through plans to raise the retirement age from 62 to 64. his government invoked a rarely used tool in the constitution to avoid a vote in the assembly. the bbc�*s azadeh moshiri reports. they sing la marseillaise this isn'tjust a rendition of the national anthem. this is a protest by france's own lawmakers. speaks french the prime minister was repeatedly heckled. speaks french translation: i wasn

central bank to raise today. and if you take a look at our chart here, we got the bank of england up by a quarter, we have the banks on zero. >> remember they had a problem of people piling into their currency. that was why they had this problem with their currency. everybody loved the situation franc. >> but the way we're moving, we're definitely not synchronized on the absolute level. i don't know whether that's necessary or not. these are multi-speed economies. it does show you how hard it is for the european to try to have everyone -- when you can see the differences that just are between multi-speed economies, and yet they're all trying to -- it highlights the problem. can you thank the people? you do it much more sincerely than i do. right? >> not a high bar. >> let's take a look at the market with the ceo and chief investment officer and, sylvia, there is a lot to big through over the last 16, 1 hours or so. what did you think, what was your takeaway from this back and forth about will we or will we not have a blanket deposit protection or insurance on any of these things? does it matter? what are you still

of course, there is an impact with the ecb and other central banks. but if you are looking at the bank of england, for example, their focus is on the u.k. economy. the mortgage market plays hugely important role there. there is a very high sensitivity to short-term interest rates. also struggling with a lot of factors with the economy slowing down, still reparations from brexit and other things. there is a certain interconnectivity between banks, different rates, but at this time, relatively muted. i think of yields in the u.s. and the fed, it is all about the u.s. data at the moment. kriti: marilyn watson walking us through a lot of different dynamics in the bond market. thank you as always. we will have you again. coming up, after the collapse of its partnership with rapper ye, adidas tries to offset some of the huge financial hit. this is bloomberg. ♪ get help reaching your goals with j.p. morgan wealth plan, a new tool in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move

the bank of england move comes less than 24 hours after the us central bank, the federal reserve, raiseder of a percentage point at the conclusion of its two—day meeting, leaving the benchmark overnight rate in a range of 4.75 to 5%. it was the ninth hike in us rates since march last year, as the federal reserve also battles to rein in decades—high inflation. but it did hint that it's nearing the end of its hiking cycle. we can speak to former labour treasury minister, now chief economist at the institute of directors, kitty ussher. do of directors, kitty ussher. you think the bank of er do you think the bank of england was in a spot where it had no choice but to raise interest rates given the jumping we saw?— to raise interest rates given the jumping we saw? yes, but it wasn't 'ust the jumping we saw? yes, but it wasn't just the jump _ jumping we saw? yes, but it wasn't just the jump in _ jumping we saw? yes, but it wasn't just thejump in inflation. _ just thejump in inflation. unemployed tenants has remained lower than expected which is obviously great news for people in work are looki

you also have monetary inflation where the bank of england central banks create of money out of nothing three causes of inflation. and in each case i agree with you raising interest rates is not the way to tackle that. inflation is also a bit iffy to raise interest rates when the banking is so big in switzerland on and those higher rates lower the value of the government bonds that those banks have bought , bonds that those banks have bought, undermining the value of balance sheets, making everything they do and deposits look riskier. so look, the bank of england which will decide on interest rates is on the horns of a dilemma here. if they don't raise interest rates, some people in the markets may , oh, people in the markets may, oh, they're not serious about inflation. but if they if they keep interest on hold of 4, then they have to explain why they've done that. i think they'll take their cue of the us central bank, the federal reserve. it will on interest rates today. so that decision will be very, very watched. we should know there's lots of politics around today and. we're obviou

central bank may not move today. the federal may be unchanged with interest rates next monday and the bank of england may not change withn _ and by interest rate cuts. this conversation is _ and by interest rate cuts. this conversation is all _ and by interest rate cuts. this conversation is all because they worry is that if rates are going up and up, institutions that have bad exposure as a consequence of that could be seen to potentially fail likely so it has last week. sibib seen to potentially fail likely so it has last week.- seen to potentially fail likely so it has last week. 533 was a badly run _ so it has last week. 533 was a badly run back. _ so it has last week. 533 was a badly run back. we _ so it has last week. 533 was a badly run back. we are - so it has last week. 533 was al badly run back. we are familiar with how badly run credit suisse has been, it has put its footin suisse has been, it has put its foot in nearly all the scandals in the past two years or tried extremely hard and weakest links show the stress first. the challenge now is central banks have raised interest rates to try to combat inflation

really interesting week this week for the central bankers, we have the central bankers, we have the ecb, the fed, the bank of englandy banking crisis that is going on and inflation numbers that are stubbornly high, in the uk we are still double—digit. the uk we are still double-digit.- the uk we are still double-digit. we are double-digit - double-digit. we are double-digit for - double-digit. we are | double-digit for now, double-digit. we are - double-digit for now, but double—digit for now, but probably only for an hour or so, because i suspect at the inflation rate that is announced at seven o'clock this morning will be slightly under 10%. it morning will be slightly under io%. it peaked atjust over 11% in october and has been falling slowly since then. but i think inflation is essentially a backward —looking measure, it is a year on year comparison, what we will see of the coming months as inflation is going to fall down pretty sharply. the office for budget responsibility, in its submission to the treasury for the budget last week, was suggesting that inflation will be down at 3% by the end of this year and ac

central banks this thursday. this, of course, the day after the fed raised interest rates again. >> the bank of england raised itsnterest rates by 0.25%, the same amount as the fed. now it's 11th rate hike in aro bringing the bank rate of 4.20 5%, the highest in years. the central bank acknowledged a higher borrowing cost would make harder for people but said it was vital to fight inflation. inflation has been driven by higher food prices the dod said it expected inflation to fall quickly from mid-2023. let's check in on the day's trading action. european markets were mixed this friday. the ftse dropping .9%, weighted by the british pound. wall street shares bounced back from a negative close the day before but have since started losing steam. financial shares continue to be volatile. first republic down nearly 8%, dropping sharply in afternoon trade despite making gains in earlier trading. the chief executive of norfolk southern was grilled in the u.s. senate on wednesday over the railroad's safety record following last month's derailment with one of its trains. while there were no injuries, the accident caused

so just under an hour from now, ah, the bank of england has raised interest rates for the 11th time and 18 months moved, follow similar measures by other central banks, including the u. s. federal reserve and swiss national bank. the quarter of a percentage point rise takes the rate to 4.25 percent. the central bank se curbing inflation remains a priority. despite market concerns about turmoil in the banking sector. on wednesday was reveals that inflation unexpectedly rose in february hitting 10.4 percent. it was driven by high food and energy prices. all brennan has more from london u. k. interest rates were already at a 14 year high before today's monetary policy committee meeting. and this 11th consecutive monthly rise, puts more pressure on beleaguered businesses and you came mortgage holders. but the policy makers here at the bank of england really had their hands forced by recent economic data. firstly, there was an unexpected increase in inflation up to 10.4 percent announced on wednesday when many economists expected it to fall below 10 percent. second of all, there is food inflation and that's running even higher than headline inflati

the bank of england's raise interest rates for the 11th time in 80 months in a bid to combat inflation. the move follows similar measures by other central banks, including the u. s. and switzerland. a quarter of a percentage point rise takes the rate to 4.25 percent. the international monetary fund, his warning, lebanon urgently needs reforms to prevent hyper inflation. the conditional agreement was reached last year on a $3000000000.00 loan to save the economy. but the stipulated changes haven't been made. we live only so the moment is that the cross roads we are in a situation where the start of school, the continuation of policing action we're seeing is going to leave live on the never ending crisis. it's already prime minister benjamin netanyahu says he's determined to proceed with the countries controversial judicial reforms. thus, despite nationwide protests against the changes which limit the powers of the supreme court, it comes off to israel's parliament passed the 1st of several laws the make up the overhaul. protests have been continuing across france against the government's plans to raise the retirement age protests. as for

yeah we've what's happened to interest rates so therefore the central if the fed , the bank of england they've all got a part play in this. they have for a long time some of us were saying inflation coming central banks need to raising interest rates we would dismiss then we were dended we would dismiss then we were derided and then inflation got to a 30 year high in january last year and then putin invaded ukraine and inflation went to a 40 year high because of much higher oil and gas prices and all the rest of it. and suddenly central banks thought, crikey, we have to act we have to start raising interest rates. so they've gone from not raising interest raising interest at all to raising interest at all to raising interest rates very quickly. and by more than they otherwise would have had to. we've had an interest rises mark since the early part of last year in this country. similarly the fed's been very aggressive and what that does is higher rates. it lowers the price less of the debt that a lot of these banks particularly government debt and that makes their balance sheets look a