lizzy: thanks to maria tadeo.bringing you full live coverage of that policy decision at 1:15 p.m. london time. the news conference with christine lagarde is half an hour later. in other news out of europe, the hungarian prime minister looks likely to dictate the outcome of an eu leaders summit later today. he's been pushing to block funding for ukraine and obstruct the start of talks for the country to join the eu. let's find out why from john fleming in brussels for us. what's going on here? why is hungary rejecting the aid plan? john: the backdrop is their close relationship with vladimir putin. that is not something that you can do much about in the short term. the issue here is over funding for ukraine. hungary is objecting, saying that because it's part of haggling over the more long-term you budget. it's an issue that's tied up with finances. all been is holding up the ukraine aid. there's a two-day summit in which leaders will try to find a way perhaps of reaching a solution now or postponing to a later dat

maria tadeo is all over this story. this feels like it would be a massive free-trade agreement between two massive trading blocs of the world. maria: it is fair to assume that the mercosur will not be signed this year. that was the hope of president lula who will be in germany today. he will meet with the german government. as i said, it is almost a safe bet now to say that the mercosur will not happen. fundamentally, there is two reasons. one is the french president is saying on the latin american side -- it includes both brazil and argentina -- there are issues when it comes to green targets, sustainability where they still need to do more work. the second issue we are told is simply a matter of timings. brazil has the presidency of mercosur until the end of this week, but the other pillar to the deal is argentina. the country had an election a few weeks ago and is in the midst of a government that is leaving, and another one that is incoming. it is unclear what the new argentine government will be when it comes to me

that's bloomberg's maria tadeo and rebecca choong wilkins.t to bring one of our top interviews. amd unveiled a new line of ai-accelerated chips as it takes aim at nvidia. the ceo spoke with ed ludlow on the red-hot market for chips and their forecast for the industry. >> if you look at performance, we are very competitive. let's call it a tossup upgrade when you look at inference performance, we are 1.4 to 1.6 times better. if you are running these models, you can run more models, or you can run larger models with mi300 . right now, the key to a you -- to ai's gpu compute. we are here to provide lots of gpu compute. >> you have had the confidence to dramatically alter your forecast with ai accelerated. total addressable market of 400 billion u.s. dollars in 2027. just in august, you said it was $150 billion, what has changed? >> the way we look at face things as we usually look on an annual basis. when we were doing our plan for 2023 and beyond last year, we thought this year there would be about a $30 billion market, and it would grow 50% co

lisa: maria tadeo, thank you for being with us.t she can drop in testosterone she felt from viktor orban into the conversation. we are going to be speaking with julian emanuel, at a time where people are gaining out the possibility of the snb hitting 5000 in the next few weeks. this from tony roth. katie, do you hear this as some sort of -- you have no idea given how quickly things have moved. katie: it is also the path to get there, which i find interesting, especially as we will forward this rate cut pricing. it is going to be interesting to hear from julian emanuel about the path he sees. it looks rocky. damian: and trading conditions, anything could happen into year end. that is a huge move, but on light volumes, anything could happen. lisa: you think everyone is going home/ damian: everyone has gone home. lisa: if you are watching from your home, welcome. coming up, that conversation with julian emanuel. good morning. ♪ what do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise

joining us from the ecb, maria tadeo. let me start with you first. the bank of england is feeling like an outlier. it does not have this dramatic inflation drop that other central banks are experiencing as a result of which it almost has to sound more hawkish. >> it is in a different position. as long as the central bank is focused, it is going to be -- it is going to have to be hawkish. you can see a shift if the bank of england talks more about the forecast. we have seen the fed make that transition, so they have said, if we wait until inflation is at 2% it will be too late. if the bank of england start doing that, that is what everybody likes. alix: what did you make of the fact that christine lagarde did not push back on market pricing for rate cuts next year? some say it is a missed opportunity. she did not take that bait. maria: she knew this would be a difficult press conference. this is coming 24 hours after the fed and you saw that priced in and the expectation for cuts at the start of the morning. she knew this was going to be the main topi

bloomberg's maria tadeo, we appreciate it. we want to get more on this and are joined by carsten brzeski. what do you make of the gap we see now between these central banks? carsten: clearly, even after the fed, the ecb is not pivoting at all. we'll see more of a significant downswing in the u.s., which will allow the fed to do these rate cuts next year. we did not fly high in europe, now we are slowing down again. the ecb, they have been lagging behind the fed anyhow. we will look to rate cuts in the second quarter at the earliest in europe. guy: the fed seems to be cutting because the inflation is coming down. the ecb is cutting because growth is -- is not cutting because growth is slowing down. shouldn't they be thinking about action earlier than the fed? carsten: not really, guy. the first thing, the interest rate and the u.s. is higher, so the fed has more room to cut rates. in europe, the ecb still expects growth to come in at 12.8% next year. we are a bit more pessimistic, but we do not forecast a fully fleshed recessio

maria tadeo, we thank you.making use this morning, the uproar over the handling of antisemitism at some of the u.s.'s most elite universities continues to grow with harvard's president claudine gay facing mounting pressure in the wake of the resignation of the university of penn president. they have been slammed by lawmakers over their responses over whether calling for the genocide of jews is against school policy. also this morning, in the u.k., the covid-19 inquiry turns to the prime minister. rishi sunak is set to testify today. a key question will be whether the event-chancellor's plan to shore up the hospitality sector during the pandemic may have helped spread the disease. this scheme helps people get back out spending money during the summer of 2020. tomorrow the pm faces a difficult vote in the house of commons on his plan to deport asylum-seekers to rwanda. asahi reports japanese prime minister fumio kishida plans to replace all 15 ministers of state and parliamentary vice minister's from the abe fact

speaking there to bloomberg's maria tadeo. we have come to the end of the week in europe.sing on today. i want to focus on airbus. flying higher. certainly a little higher again. deutsche bank raising its price target to 152 euros. it gives airbus a by writing -- buy rating. it is interesting, the problems with rows of causing issues. let's talk about the 52 week highs today. there is airbus at the top. sainsbury also hitting a 52-week high. in banks, credit agricole. in construction, legrand. a whole bunch of 52-week highs. we are up on the session. the close is next. this is bloomberg. ♪ announcer: guy: strong session. strong week, to be honest. european equity markets up on the backboard appears to be a boost coming from u.s. data. france is really flying today. the luxury names are doing well. lvmh is up there in terms of points being added, but cure is having a good day. airbus is having a good day as well. enough of a boost delivered in the form of the university of michigan data. u.s. consumer, may be -- may be looking healthier than anticipated. anglo-americans are

jonathan: let's get a preview and checkup with maria tadeo. what are you expecting today? anged here in the past two weeks, especially yesterday with the fed and that's a problem for the ecb when they have a monetary policy decision they know that a lot of the comfort -- and conversation will change. they talked about this higher for longer narrative and that has changed into cutting rates which is a question she will be asked and it's interesting to see if she can see that there is a pivot that they're trying to live with. this idea of a march cut if the economy deteriorates is not even a possibility. can she be in a position where that is even credible? lisa: are there whispers from the bank about how much pushback there would bank about because? maria: the decision will be made and now it's about fine-tuning the press conference. there are members of the governing council beyond germany but including germany that would be cautious and worried about the idea of early because they could undo the work that they've done over the past year. they want to get inflation back to