often when i speak with the economists who are - with the economists who are perhaps a bit more bullishabout the fact that there's a huge savings pool there, people have been stalking money away because of the pandemic and they are just waiting to spend it because now the time is right. is that what you are seeing in the data? hat you are seeing in the data? not et. for you are seeing in the data? iirrt yet. for consumers to splash their extra savings they need to be confident about what they are seeing in the future. that is what we are lacking. more than that, i think they are also worried about less growth and less employment. let's not forget the youth in china remains high. and was adamant that employment was a target. he moved up the target from 11 million to 12 million, which means that even more needs to be created to year in china. if you are not sure about your job, especially if you're young but more generally about your ability to consume in the future you may not splash your savings at dues that everybody is talking about.— is talking about. these sense ofthe is talking abo

economists rarely join together when they talk about employee sponsored health insurance. one is the effects it has -- the effects use fusion has on the margins. the other one is what has to do with the question, one of the raise your hands questions brian asked which is due workers pay for health care benefits in the form of reduced wages? a lot of people think that because the employer is the check, they bear the response of the payment for the health insurance. that is not the case at all. economics disparity is pretty robust economic literature and mainstream public health economists all hold the same thing that the employee bears the full cost of employer-sponsored health insurance in the form of reduced cash wages and other forms of compensation. unfortunately, when we have discussions about this and every studies and reports about employer-sponsored insurance and the exclusion, almost no one takes the point seriously. when we talk about getting rid of the exclusion and employee sponsored insurance, no one takes the play seriously. if we got rid of the exclusion tomo

robbie did mind bogglingly decided to become an economist himself. so can you imagine this like mother is the treasury secretary fed chair most accomplished? your father won a nobel prize? like what are you possibly to do as an encore but george and robbie really close like they had mind meld and robbie became another one of these subversive minds economics who even to this day is trying to change the field. so what i decided i wanted to do in the shower and the thing of came to me from beginning to end. i didn't know how it was going to end because i didn't know what was going to happen in the final two chapters when she's treasury secretary. but what occurred to me is i could use yellen and her husband as i could use her as the central character. and their love story is an out of the narrative arc to tell the story of modern economic upheaval, which is what i've been writing about for for the last 25 years. and it out the investment that i had to make to do that was it was manageable. i'd been writing about it for the last 25 years. a lot of the ch

economists are split on whether we will see a pause or an 11th straight hike. a bit of breaking news across the bloomberg at the moment. it is inflation data for korea for the month of march. march in line with estimates at .2% gain year on year, a little weaker than expected. that is a decline from the 4.8% we saw the month previous. there's no change in the korean won at the moment. the last trade against the u.s. dollar, we did see the won barely brent the selling on the opec decision to pump less oil, but those inflation presses for now which predate the opec decision, are looking as if they are under control. south korean march food prices due to increased 3.4% on the year and transportation contracted. korean inflation eases to keep rates on hold. let's look at other assets trading at the moment. we are a little more than an hour away from the open here in australia. futures are pointing to a flat open. we've seen not a lot of change in the aussie dollar ahead of the reserve bank of australia decision. economists are split on whether or not we will see a

>> economists try to say is not a moral judgment. but at the end of the day, it comes down to, your scaling what is the willingness to pay of people to avoid damages. that is going to be constrained by tir ability to pay. there's clearly a moral judgment. >> so, jumping on the last piece , the budget is $10 million. where does that come from? that is based on empirical sties in the u.s. of how much -- how much people are willing to pay. say someone willing to pay $10,000 to reduce e risk of death. those two things get you $2 million. that is what it is based on. it's based on values in the u.s.. epa guidance, the epa scientific advisory board are veryxplicit about what is the -right approach you are thinking about impacts to individuals th different incomes. there is a lot of economic and spute whether it should be scaled me than one forne. one for one is the central case. it is the approa we did in our paper end of the one that epa did in their report. the concerns that noah is ising are valid. i don't think it is about that number

and there are many economists in the united states. so i assume they, they are familiar with that theory as well. why do you think the americans are so stubborn in trying to, ah, preserve their had gemini, both in economic, into political terms, while all the signs that are, that it is slipping away? why aren't they ins that trying to create the most the beneficial, transitory conditions for themselves? ah, which one is nobody likes to do? that's clear. i mean, the british loss because he had a war. essentially they won the war but lost the empire. the u. s. has not lost it's imperial yet, but it is way imperial power is waning and you read you read different articles and if you're not here that where they are aware that their powers li, but they don't want to search. and what is also clear is that there is a lack of understanding on what's going on. i wrote charge mrs. yellows remarks the other day on the international court. i'm in china and i was a bit surprised to see that she thinks the huge sense of the number to conduct when for

and there are many economists in the united states. so i assume they are familiar with that theory as well. why do you think the americans are so stubborn in trying to preserve that had gemini, both in economic and political terms, while all the signs that are that it is slipping away? why are they instead trying to create the most beneficial, transitory conditions for themselves? one is nobody likes to do that's clear in the british loss because he had a war essentially they won the war but lost the empire. the u. s. net. last it's imperial power. yeah. that it is. wing, imperial power is raining and you read you read different arctic. also, there are some journals and it's clear that her they are aware that their powers lee, but they don't want to lose it. but what is also clear is a, there is a lack of understanding on what's going on. i room charge her missus, yellows are remarks yellow day ah, on the international economy in china. and i was a bit surprised to see that she thinks the us as a dynamic conduct when or all of us, it i

probably later this year and economists are confident of that because of what ijust economists are confidentmists are confident of that because of what ijust showed you in the chart which is raw material prices. back in october they were up 23% year—on—year and in the latest figures just around seven or 8% so thatis figures just around seven or 8% so that is a lot less unmanageable for the firm is paying for the raw materials. everything from the price of wood to the price of petrol. and the raw material prices spiked as you saw in the 1970s and we probably have been through a similar spike just now. that is one reason why economists are confident and the other is that inflation is a year—on—year comparison so whereas a few months ago we were comparing prices now with prices before the war in ukraine, so there was a big difference between them, when we move on we will be comparing prices a little later with prices after the big spike in oil after the invasion of ukraine and the difference between the two is smaller. that is the big reason why most economists think that we can still be confid

the economist _ the food they want. the economist look - the food they want. the food they want. the economist look to the i the food they want. the economist look to the income of serial farmers across the country and they reckoned income had risen more than 68% income had risen more than 68% in the last year. we sometimes get a little cynical about farmers, they plead poverty and yet you dig away at their actual accounts and they are doing rather well. isn�*t that the case for at least some farmers even now.- the case for at least some farmers even now. you have got a story of _ farmers even now. you have got a story of two — farmers even now. you have got a story of two halves. _ farmers even now. you have got a story of two halves. for- a story of two halves. for arable farmers yes they probably had a once in 30 year harvest, don�*t get the cost of inputs, fertiliser they would have the previous year been paying £200 a pun in paying thousand pounds per ton for nitrogen fertiliser. then you have your poultry farmers, livestock and dairy farmers who have to

we'll talk to lenders, chief economist on why the asia pacific got economy apparently is out growing many other parts of the world. it's also coming up once labeled. charity city's an investor is building a private community on an island in honduras, which critics say is a threat to democracy will take you there. i'm chris cobra. welcome to the program . asians economies are reopening with impressive dynamism that is according to the asian development banks. assessment published earlier on tuesday, private consumption investment and services, including tourism all reviving, now that the pandemic has largely passed china as reopening after last year's lock downs is brightening the outlook for both the region and the global economy. regional growth is expected at 4.8 percent this year and next with south asia expect to go faster than other regions. growth in east asia and southeast asia is benefiting from increased domestic demand and growth in the pacific from returning taurus. inflation is gradually coming down to pre pest demick levels, the forecasting the rate for developing asia a

so a new appointment — chief economist of the cbi.. so a new appointment already. what is - chief economist of the cbi. so a new appointment already. what is the i appointment already. what is the task ahead for her and the cbi? she has a hue task ahead for her and the cbi? file: has a huge task task ahead for her and the cbi? 5ie: has a huge task ahead of her task ahead for her and the cbi? 5“ie: has a huge task ahead of her because this is farfrom over. she has to steer this organisation through a much wider crisis because there are further allegations of misconduct. drug use and a rape at a summer boat party in 2019, or related, it should be said, to tony danker. the cbi described his delete by these allegations are devastating and it's been damaging. the government has paused meetings with the cbi. the cbi has hit the pause button on big annual events, its dinner was cancelled. it is a mess and some wonder if the future of the cbi is in doubt. today it said it will be co—operating fully with police, it has launched a review of its

most economists see the rpi -- rbi raising its rate.he ceo of sun life amc, one of india's top companies. what are you expecting from the rbis and what message are you anticipating? >> as you know, the bank has been proactive. the rays of the policies. the rate above 6.5%. inflation is out of control. it is marginally above expectations. that is not something, the situation cannot help things. as a result of that, it is below 3%. that means experts have been showing improvement. the oil prices out of control. going by all of those things, output has been good. as expected, a good month to have. keeping all of those things in mind, my own belief is at this time, rba may take a pause. 6.5% has also been ensuring that there has been a corresponding rate hike in the deposit rates. there has been a corresponding increase in the lending rates. and this had to happen and has already happened. going by that, my own assumption is they will pass this time around. though the expectation [indiscernible] i personally feel the rate hike will compute

on an inflation number acumen below economist estimates, you would think there is more action. the s&p 500 is higher by 3/10 of 1%, you look to the bond market. they are supposed to be smarter than the equity guys, it does not look like it. again, no volatility. we will ask joe davis what is going on. i want to talk about the currency market, that is where you are seeing action. check with the biggest contributor of the move is, the euro. 109 on euro-dollar, straight of the 8/10 of 1% in favor of the european counterparts. brent crude be a big part of the inflation story, 83 handle and i believe 87 on brent. seeing the commodity move come back up, trading in line with the risk sentiment. the stock market has been trading on profit margins. mostly in check to see of corporate america can weather the inflation they've been handed. take a listen to what a bull on wall street had to say last week. >> if you look at profit margins, they have peaked and they have peaked for the decade. it will not be higher than where they were two years ago for the next 10 years. kriti: peaked for t

sorry, economist, economic economist. ani— economist, economic economist.es, stop moaning about everything being more expensive . vie-ve— everything being more expensive . vie-ve eii— everything being more expensive . vie-ve eii inev— everything being more expensive . we're all just poorer and we .we're all just poorer and we all .we're all just poorer and we eii neve— .we're all just poorer and we eii neve ve— .we're all just poorer and we all have to suffer.— .we're all just poorer and we all have to suffer. and you did vnie— all have to suffer. and you did vie-veen.— all have to suffer. and you did this-yeah. and— all have to suffer. and you did this-yeah. and the- this the yeah. and the difference— this the yeah. and thei difference -and this the yeah. and the- difference -and the difference is. yeah. and the iiiievenee— difference is. yeah. and the difference-of— difference is. yeah. and the difference of course that difference is, of course that ne-e— difference is, of course that nee-e— difference is, of course that ne-e-e eeenie— difference is, of c

amp deputy chief economist diana mousina joins us. perhaps credibility is at stake. way do you think they will clean, given what we know from the recent data? diana: good morning and thank you for having me on. either way, the rba has left the door open for another} but equally it can justify keeping policy on hold. i don't think their credibility will be damaged, whatever decision they make at tomorrow's meeting. they have clearly said that they are data dependent, more data dependent than ever. obviously all central banks have to look at the data closely, but this time around, inflation data moves so quickly and is likely to be so volatile. there have been all of these one-off disruptions to food prices, and i think the rba can definitely still hike the cash-rich tomorrow. i don't think that rba is done raising rates, but the market pricing for raise -- raising rates tomorrow is still low. haidi: what are the other global factors in play here? because we see the unevenness over the chinese recovery story. what was your takeaway given the pmi numbers and the extreme

tells the chief economist a little earlier i spoke i economist a little earlier i spoke to the former and this was his assessment of global slowdown stipulating to being quite optimistic. some weakening in emerging markets in the forecast is unchanged despite the banking problems and their pretty optimistic number picked in the forecast for recent events in oil prices, they are already higher than they were forecasting and is a positive view overall and i hope they are right. why are you nervous? i overall and i hope they are right. why are you nervous?— why are you nervous? i think russia's continued _ why are you nervous? i think russia's continued actions i why are you nervous? i think russia's continued actions in | russia's continued actions in ukraine are a real sword hanging over the global economy directly in terms of brain exports and does matter to poor country, oil market in china, china's position relative to russia and the growing trade and brought the tension between the us and china are very serious stoplight in terms of the uk, mention germany and both contracting 0.i%

sorry, economist, economic economist. ant— economist, economic economist.ive . were at twet— everything being more expensive . we're all just poorer and we .we're all just poorer and we all .we're all just poorer and we at newe— .we're all just poorer and we at newe te— .we're all just poorer and we all have to suffer.— .we're all just poorer and we all have to suffer. and you did the— all have to suffer. and you did the-ween.— all have to suffer. and you did this-yeah. and— all have to suffer. and you did this-yeah. and the- this the yeah. and the difference— this the yeah. and thei difference _and this the yeah. and the- difference _and the difference is. yeah. and the ttttenenee— difference is. yeah. and the difference-of— difference is. yeah. and the difference of course that difference is, of course that ne-e— difference is, of course that nee-e— difference is, of course that nee-e eewnte— difference is, of course that he's-a couple of- difference is, of course that he's a couple of hundred he's got a couple of hundred tneweent— he's got a couple of hu

sorry, economist, economic economist. ant— economist, economic economist.ive . were at twet— everything being more expensive . we're all just poorer and we .we're all just poorer and we all .we're all just poorer and we at newe— .we're all just poorer and we at newe te— .we're all just poorer and we all have to suffer.— .we're all just poorer and we all have to suffer. and you did the— all have to suffer. and you did wte-ween.— all have to suffer. and you did this-yeah. and— all have to suffer. and you did this-yeah. and the- this the yeah. and the difference— this the yeah. and thei difference _and this the yeah. and the- difference _and the difference is. yeah. and the ttttenenee— difference is. yeah. and the difference-of— difference is. yeah. and the difference of course that difference is, of course that ne-e— difference is, of course that nee-e— difference is, of course that nee-e eewnte— difference is, of course that he's-a couple of- difference is, of course that he's a couple of hundred he's got a couple of hundred tneweent— he's got a couple of hu

this was said with a western economist.m very saddened by the fact that our words spoken here so far do not find a proper response from the financial bloc. well, good. we hear from them constant criticism that the government is not even invited to try to do this. i'm very disappointed that they don't offer. the solution is there is a task. well, you suggest a solution to problems if it's bad, but when we hear that it's only bad. today we are starting to talk about why she sucks the dollar. and why are these changes taking place today, and we need to remember what was done a year ago and what is happening today? we are again talking about the fact that there is practically no currency control left. accordingly, we again have to resolve the issue for ourselves. returning to strict currency control of the sale of the mandatory sale of foreign exchange earnings. and we have everything today these problems are indicated by not finding structures. about its application in the policy of the financial and economic bloc, when we ret

like i had chief economist at the wealth management fund trespass. what has been the impact of sanctions on russia from your viewpoint? because, i mean why, why was the rubel the strongest performing currency of 2022. given that the bi demonstration themselves said the rubel will be rubble. well, the rowboat. busy is a very complicated currency on the one hand, it has capital controls. so most a russian citizens simply cannot exchange rules for us dollars or euro's. so the exchange rate is a relatively early on in the main beneficial sales trade surplus. that certainly helps. and the utilization is true that the utilization of the rouble occurrence each is, is referred to me in existence globally. however, it is true that the interconnection with china and was india, has san the gold reserve frank from. and the gold reserve, a gold reserves matter to a certain extent go reserves are important. and there is certainly the governor of russian central bank or his award. she's a woman, i don't remember her name, but she implemented a policy of defending t

and he's been ranked as one of the top 20 most influential economists in the world. thank you so much share daniel for our coming on forget to s v b as a good valley, a bank. what about credit suisse? because need an asian media. commentators seem desperate to say, look, this is nothing like 20 o 8 and we have busy shifts 0 of euro pacific capital, who i think you know saying isn't going to get better. there's going to be worse than 2008. and we must remember that the numbers of hundreds of thousands of excess deaths that the 20 o 8 crisis cause when it came to poverty, cold, hunger, 40000000 am in the usa are going hungry tonight. hey, well i think thank you so much for having me. i think it's somewhere in between to be fairly honest to say that it's nothing like 2008 and it's going to be just a small piece of news and transferred to a much larger risk. makes no sense. but i think at the same time that it precisely because the problems of the financial sector are global and because of the excess debt that exists all over the world. when everybody's in deep trouble t

like i had chief economist at the wealth management fund, trespass. what has been the impact of sanctions on russia from your viewpoint? because, i mean, why, why was the rubel the strongest performing currency of 2022. given that the bi demonstration himself said the rubel will be rubble. well, the ruble. busy is a very complicated currency on the one hand, it has capital controls. so most russian citizens simply cannot exchange rules for us dollars or euro's. so the exchange rate is a relatively massage or managed by the, by the central bank. and i think that basically, on the other hand, there's another reason is that the global oil and gas market is, is global and fully interconnected. so sanctions against russia has basically meant that russia would export a lot more to china. and india, which haven't been, as you mentioned prior the main beneficiaries of, of, or receiving all oil and gas at a discount from, from russia. so basically what has happened is that the reaction economy has gotten into a. ready massive trade surplus, that certainly help

and we'll have a portfolio of economists, each with their own solution. and... power to the people!the eo - le! as hong kong feels the weight of beijing's security apparatus, newsnight has been talking to one of the last group of protestors who dare to speak out. translation: in the past, the police didn't pay - much attention to us. now, both plainclothed and uniformed police surround us. they even set up cameras and recorders when we set up. good evening. there has been a lot of wrangling over the illegal migration bill, which comes back to the commons tomorrow, as the government has been trying to quell an expected conservative backbench rebellion. at issue are two distinct aspects of rishi sunak and suella braverman's plans to end the small boat crossings. the role of the european court, and the way to determine whether migrants and refugees who say they are under 18 are indeed minors. nick is here with the latest. nick, what are the nature of these negotiations? we have tried very hard to get conservative backbenchers to speak to us tonight and they are keeping quiet. for backb

at about five as opposed to 6.4% in the last month because according to a consensus estimate of economistsod prices which account for about half of overall inflation a dip in vegetable prices is expected to have brought down food inflation, but the cost of fuel has gone up recently and that would push up overall inflation again according to economists. lastly, the reserve bank of india kept rates on hold after six consecutive heights, surprisingly markets which were expecting a zero 25% increase in rates. the governor did say to the central banks the job was not finished and the war against inflation had to continue given that it had proven to be more sticky than expected. the reserve bank of india expect inflation to remain at about 5.2% in financial year 2024, which began on i april. nikhil inamdar, bbc news, mumbai. that is it from us, goodbye. reading. it is not something becomes easierfor reading. it is not something becomes easier for everyone. and for 35—year—old aaron it has been a struggle. i and for 35-year-old aaron it has been a struggle.- has been a struggle. i was really scar

we heard from the chief economist of the imf and he said that nowadays the trade—off isn't so much inflationersus economic growth, which has been in the past, it is financial stability board inflation and because banks around the world are raising interest rates that is putting the banking sector under pressure and he says actually what central banks need to do is to continue to prioritise price stability, thatis prioritise price stability, that is lower inflation, the financial stability and the potential weaknesses that could company banking sector. it all sounds pretty _ company banking sector. it all sounds pretty dire, _ company banking sector. it all sounds pretty dire, doesn't it, any sense of optimism at all here? ., , ., any sense of optimism at all here? .,, ., .,, , . here? there was one optimistic, janet here? there was one optimistic, janet yellen. — here? there was one optimistic, janet yellen, us _ here? there was one optimistic, janet yellen, us treasury - janet yellen, us treasury secretary, she says she feels reasonably bright and she wouldn't overdo the negativism she poin

i want to bring in the chief economist at ff investments. let's talk about the pace of deceleration. i think it's clear deceleration is growing around the world. but are you concerned about a more rapid deceleration or more robust drop? laura: a recession unfortunately is in my forecast, but for later in the year. right now, what we have seen is the economy retains a lot of momentum. this is typical. it's when the fed is raising rates, we had high inflation, we had so much spending and wealth built up within our economy, it is just taking time and those tailwinds were really strong. this is where the erosion of that momentum is building. i don't know if it is a really fast drop. to me, it's a building of headwinds that will cause us probably to have a contraction toward the end of the year. this is the uncertainty that is building on itself and we are all feeling it right now. and financial markets, it is the heightened volatility and policy uncertainty. jon: we will get that fresh data point on inflation tomorrow. we've been trying to navig

let's speak now to economist dr komal sri—kumar, president of sri—kumar global strategies.ce thank you for being with us. once again, there's a lot to get our head around. but there is a sense of a light at the end of the tunnel, that rates could start coming down and the consequence of that is money is a bit cheaper to go out and spend and to borrow and crucially, for business to invest.— and to borrow and crucially, for business to invest. first of all, it is aood business to invest. first of all, it is good to _ business to invest. first of all, it is good to be _ business to invest. first of all, it is good to be with _ business to invest. first of all, it is good to be with you _ business to invest. first of all, it is good to be with you and - business to invest. first of all, it is good to be with you and thank| business to invest. first of all, it - is good to be with you and thank you for having me on the programme. yes, i do believe that interest rates will start coming down in both the united states and the uk later this year. but not for the reason is that the i

great banking crisis, novice discussed in full in just under 10 minutes from now with european economists done the electrolyte in the latest going underground. we've had a decade of negative negative interest rates that has obliterated the balance sheet of banks and has created an enormous bubble that goes from several bones to crypto currencies. and what's happening right now is the destruction of capital of so many of those investments are loans that were made with the perception of evaluation or perception of a risk that certainly was. ready profoundly optimistic now. who is it that owns ukraine? these is humble, livable sums of money going into prop up that economy. i don't see that any of the the outcomes that we read in the press seem to be the ones that will probably end up happening now. but it's certainly going to be the reconstruction, the entire reconstruction of the country. and that i would say that the i d m s is going to own and certainly without the i m. s. i don't see it happening. i something else of note today, french president and money will mcchloe has worn europe of

because economists are crafty economists know how economists are very crafty economist that i reporton is like emailing me at this moment . do not throw us under the bus . so tom foreman brings this this canadian thing, but you were just showing me about something in philadelphia. my suspicion is that this might be a trend because in philly, the great state of philly great city of philly, where i'm from thieves got away with $200,000 worth of dimes from like an unattended trailer. so this this idea of sort of sealing metals. again at a time of high inflation medals, gold, our inflation hedges, so there's something here alright, inflation hedges. i'm obsessed with the dimes like what do you do with 200,000? dimes meltem or something? how do you spend those? nobody wants to in the old days. it's true, right? thank you so much for joining us. this is cnn news. central inside politics is up next to be with you guys today. thank you so much for coming right now. what's t this severe regard collection at americica's best, wow, amazing styles and ununbelievable prices. now thats quite thehe

guest: he is probably the most consistently wrong economist of the world. in 2016 he forecast that trumps economic measures would take the economy, create a lengthy recession. instead we had one of the biggest economic expansions in our nations history. he is an economist who wrongly told us this would be transitory inflation. i can go back to a long list of predictions and they were almost always wrong. he takes government spending, multiplies it by 1.5 and declares that will be the economic growth that the government spending is creating. that is partially true. if i take it from peter and give it to paul that is true. paul has a dollar to spend, it will ripple through the economy. that part is true. he forgets the other half of the equation. has one less dollar to spend in that same economy. one less dollar to ripple through. which is why those economics are a failure and mark sandy is always wrong. host: eight caller in our first hour said why are republicans -- repeal their tax cuts? that would raise revenue and lower the deficit. guest: the opposite w

, one prominent economists said on twitter. know, if you're not a little confused about this economy, you're not paying attention, right? so that made me feel a little bit better. but no, essentially what you have is and look i've talked to cfos. i've talked to analysts who say you know, in this environment you cannot afford to not pair for recession right, because if, in fact we do see a recession, it would perhaps be the most anticipated recession of all time. so we're all talking about it. many people are concerned about what this will look like. and so for companies who are managing their budgets, they're starting to proactively respond to your point about pulling back on advertising because why wouldn't you were all sort of forecasting it right? and i should say that there is this element of a self fulfilling prophecy, right if we start to really feel like a recession is imminent. well, then maybe we start to act like and we still pull back on our consumer pullback on our spending, and that could create a vicious cycle. so

david: boyang liu, china economist at china economist at clsa. rishaad: christine lagarde says she cannot imagine the u.s. will default on debt. the biden administration has looked at an impasse with republicans are seeking to lead an increase for spending cuts. estrella government's is optimistic that xi jinping's tariffs on exports from china could end by the end of the year. trade minister don farrell told bloomberg this could be resolved in months rather than years. india said it would buy russian crude near or past the opec+ -- the price cap if opec+ cuts the boost for costs. it is not for the population of one point 4 billion people. india imports around 80% of its crude and russia is no its top supplier. >> we have to look at prices which are going to be affordable for us. otherwise, we will be paying for more than opec can afford. rishaad: spacex will launch a deep space rocket on monday, and a successful launch could be a critical milestone for another manned mission to mars. once operations, starship will be the most powerful rocket eve

it was a hawkish outcome which was expected is by one economist, the bank of america economist in ourbloomberg survey. let's get over to cross asset asia editor richard henderson. richard, this was a surprise. how did the rbnz justify it? richard: well, basically, they are very worried about inflation expectations running away, and we know from a lot of evidence over the years that inflation expectations lead to real inflation. that is a real pressing concern. the broader situation in new zealand is that the economy is slowing, but demand still outpaces supply. that is a very inflationary environment, very inflationary setting. that is really with the central bank is trying to address. the market was not expecting 50 basis points. most economists polled by bloomberg were expecting 25. we have seen a market response with the kiwi dollar jumping and yields on qb government also increasing as one would expect in this situation. dani: a mere 30 minutes after that decision you had the rba government -- governor saying just because we pause it does not mean we are done hiking yet. that is b

let's go to beijing and the managing directorfor greater china for the economist group, qian lu.ogramme. you are in beijing. is there an atmosphere of revenge spending in the air there right now? absolutely. the economic recovery in china post—covid has beenjust impressive, but the more fundamental question is, how sustainable is this? we at the economist intelligence unit are looking at china's gdp growth to be 5.7% this year, much higher than the government target of around 5%. in fact, the 5.7 already points to the fact that china will contribute to one third of the entire global economic growth this year, so that is quite impressive. that is a very significant contribution to the world economy. qian, are chinese consumers more interested right now in spending at home, or are they also looking to spend abroad once again? the question is both, but we need to look at the short term and a bit of the longer term. so for the short term, especially this year, the absent majority would be domestic spending, but going forward, especially when it comes to tourism and travel, outbound,

and economists say, if that happens, it'll lead to more hardship in a country where 60 percent of the population lives in poverty. once economists exclude else in this, it simply means that the economy collapse at any time unless before you ginger people to production again, it will take up because that trust or government and its policies is no longer despite the central banks extension, the cash crunch continues and it's causing economic pain to millions of nigerians and small businesses. victoria gates and b for counting the cost. joining us now from london rosier khan, who is the managing director and chief economist of africa and middle east global research of stand a chart of bank contract with a cert rosie, what is the situation in by jerome right now has, has this cash crisis eased at all, well, what we've seen since the supreme court ruling that the old notes will continue to be legal tender until the end of the year. has been a slight, even of the pressures that had been experienced earlier wrong. but we shouldn't imagine the things that necessarily come back to know the cbs