what is he mean, is this a more subtle prodding from glenn stevens trying to get the tony abbott government moving? let's give that question to the man who knows -- paul allen. paul boy, the central bank governors are notorious for speaking obliquely and cautiously but if glenn stevens is becoming less subtle by the day he has previously said there are limits to what monetary in junean achieve and he was musing that perhaps australia's growth is not the 3.25% we have been a assume in but perhaps it is lower than that. just this morning he was asking a series of rhetorical questions to himself about how credible sustainable growth can be achieved and even raised the issue of labor market reform which is one of the things that helped bring down the howard government a few years back. theerms of reform government has been predicted -- presenting comparatively fewer bills including an ugly debate and disagreement over gay marriage and expensive scandals. abouts has been talking impediments and the decision-making process. it is worth noting he only has about a year to run now so it could be tha

glenn stevens, the same problem all year.he slogan economy and a mining boom which is turned into a bit of a bust. guest: acted this stage, with where likely to see is the reserve bank of australia will be unchanged assessment. announcement today will be a nonevent. unchanged since the july statement. the reserve bank will probably reveal its hand with monetary policy on friday. if we see a downward revision to the bank's growth forecasts, it would suggest they do have a service position to ease and the second half of the year. certainly at this stage, the statement today will not be signaling an imminent move from the reserve bank. rishaad: what difference would it made if they cut rates? glenn maguire: this is the key question. one of the mechanisms the bank is looking for is for a weaker australian dollar to help that transition from the mining sector which largely was price insensitive currency insensitive given strong levels of demand to other sectors which are more sensitive to the level of the australian dollar. if the

we will get a clear sense of how china's slowdown impacts australia when glenn stevens convince his boardlicy. pimm: let's check in with europe, where mark barton is standing by. it was suppose inevitable that stocks would .ecline after that fortune we are on track for a small gain over the week. do not forget on the monday the stock 600 had its biggest inclines since 2008. after china props up its equity market, up its equity looking over at jackson hole for cues to whether the fed will raise rates. this is affecting equity markets in europe today. announced arragamo disappointing half yearly sales. i want to show you the currency that is the best performing currency on a trade wager basis out of the 10 major leading nations. it is the swiss franc today. the dollar is down. investment in private consumption helped return the nation to growth. as we look at sterling as well, the economy in the second quarter rose by .7%, in line with estimates. what was interesting was exports contributed to growth by the most in four years, suggesting the economy is rebalancing. that was the initial boun

we closely watch what glenn stevens has today and fisher's comments in the u.s. anticipated clues to monetary policy. finally on singapore, a modest upside for the currency. it has been been around by the chinese evaluation. that is the currency we will watch today is the central tank comes out with its latest it on money's of i and bank loans. coming up, a breakdown in relations after the painful act of suzuki with bmw. angie: it is 8:30 here in hong kong. there is a great vantage point of a beautiful skyline. one hour from opening trading. things are looking grim. ♪ 'span industrial production fell. the third biggest economy is improve and slow growth ways on the exports. weighs on the exports. lenders pass on cuts and e xceedecd them. they are 50 basis points more than the benchmark. it is five aces points. the china slowdown has an reflected in earnings reports. is rising bad loans and we have second-quarter income coming in. the government struggles to reinvigorate economy. we have breaking news out of australia right now. .1%, compared to 0.2%. kit is below

my sense is that the australians and glenn stevens are still very months -- very much biased.did get a quote from one economist at merrill lynch who said that the hurdle for another cut is a high one. interesting moves. we have seen a 35% fall in the australian dollar since 2011. we are getting a bit of news through rbs this morning. we've heard we would to the u.k. government selling part of its stake. guy: what a great steak it is -- stake it is. 330 pence versus 376 pence on the morning close. just to compare that -- anna: just to compare that the breakeven would have been 407 pence. guy: definitely buy high and sell cheap. something we will not talk to our guest host about because he works for a company still part of rbs at the moment. i think what you will see in this case is an aggregate story. this is what the government spin is going to be. anna: was a rough child report that they could start to sell rbs at a loss. guy: let's talk about china. chinese stocks colliding with low turnover. the authorities are once again stepping up measures. but get more data from hong ko

then she stood by the caskets of christopher stevens, sean smith, tyrone woods, and glenn doherty. she stood by the caskets, looked in the eyes of their parents and pointed to a youtube video she knew, she knew was not the cause of their deaths in benghazi. that is outrageous. today, libya is officially a terrorist safe haven. we continue to deal with these and other disasters, consequences of her decisions as secretary of state. everywhere in the world that hillary clinton has touched is worse off today than before she and the president took office. earlier this year, the director of national intelligence testified before congress that 2014 was the most lethal year for tourism, for terrorism in the 45 years. the most lethal year for terrorism in the 45 years that they had collected data. the obama-clinton foreign-policy of leading from behind is not working and sadly, we're headed toward the disaster. in the real world, the world outside of washington, when you fail at one job, you do not get promoted to another. you get fired. political rhetoric will not keep us safe. we have had

caskets ofood by the christopher stevens, sean smith, tyrone woods, and glenn doherty. stood by the caskets, looked in the eyes of their parents and pointed to a youtube video she knew, she knew was not the cause of their deaths in benghazi. that is outrageous. officially ais terrorist safe haven. we continue to deal with these and other disasters, consequences of her decisions as secretary of state. everywhere in the world that hillary clinton has touched is worse off today than before she and the president took office. earlier this year, the director of national intelligence testified before congress that 2014 was the most lethal year for tourism, for terrorism in the 45 years. the most lethal year for terrorism in the 45 years that they had collected data. obama-clinton foreign-policy of leading from behind is not working and sadly, we're headed toward the disaster. in the real world, the world outside of washington, when you fail at one job, you do not get promoted to another. you get fired. political rhetoric on that keep us safe. we have had enough of a president