joining us is jane foley, senior currency strategist, at rabobank. good morning, jane. in bloomberg. it's an interesting problem to have. warren buffett has too much money. why is that news, we knew that already? ! but what is he going to do with it. this is a problem. this is a company that doesn't pay dividends. he is a pilot of cash. cash doesn't earn much in terms of return. his problem is where to invest. there is a small pool of companies he'd be willing to consider. he's made the point that it would be much more fun if the phone were to ring and business propositions were to fall his way, but as it stands, there is some difficulty trying to know where to put all of that money. lovely to have that problem. this graph shows how he's managed to rack up the money. 99.7 billion dollars at the end of the second quarter. he's got all these great businesses making money but he's notoriously picky? but you have to remember he's been doing this for the best part of 50 yea rs doing this for the best part of 50 years so doing this for the best part of 50 years so this is a l

still with us, iain stealey and jane foley.i don't know how you actually try and go through what brexit will look like with all the noise surrounding and political infighting, we don't know what it will look like or what the government wants it to look like. >> island for us, looking at it from the bond side -- i think for us, looking at it from the bond side and the gilt perspective, you are right. the bank of england will probably not rock the boat, and keep rates what they are. they also don't know what brexit will look like. they don't want to disrupt things. for us companies gilt yield stay pretty stable. francine: francine: what does it mean for the bank of england? do they just focus on inflation figures and consumer credit? perhaps closers to the line last year during the referendum. i think they want to step back into the shadows as much as they possibly can. we were given this chart in the june fomc meeting where we saw three members vote for the immediate rate rise and the market was not expecting this. now the marke

with me is jane foley, senior fx strategist at rabo bank. it is nice to see you. good morning.s start with the guardian story. all of these empty homes in an area where people have been left with out any. this is about the broken housing system and there is a massive contrast, as we know, in this part, where this awful fire happened, between the very rich and of course the very poor. it makes the point that within this part, this is an article which at the guardian says was perhaps mistakenly sent to the guardian, but it does highlight this issue apparently within this area where the tower was, 1652 empty homes and of those over 1000 classified as on occupied, the implication that the wealthy own homes not in the tower but in the posh surrounding areas for investment purposes —— unoccupied. because they are wealthy they are not rented out, they are lying empty. you say it is the uk broken system but the london housing market is totally in its own ranking, isn't it, ina is totally in its own ranking, isn't it, in a way. it is a massive attraction for international investors who

with me is jane foley, senior fx strategist at rabo bank. it is nice to see you. good morning.

jane foley is from rabobank. england that inflation would rise before it falls. —— we were warned. it means easing the pressure on incomes for now. yes, for now, a bit of relief, and earlier this month, the bank of england suggested that inflation could be get around 3%, perhaps in 0ctober, before falling off again. perhaps we will not reach that 3% peak, but 2.6% year—on—year, that is a very high inflation rate for eg ten economy. earnings are only coming up at around 1.8. —— and a gio coming up at around 1.8. —— and a g10 economy. a lot of the inflation we are seeing is coming through food prices, and poorer people spend a greater amount of their income on food, meaning it is the poorer part of our society that will suffer the most from these price increases. of our society that will suffer the most from these price increasesm there any evidence that specific things are slowing down? i touched on fuel prices coming down but food prices going up. we have been so used to supermarkets cutting prices to try and win