>> private markets is nothing new to nomura.his long-term push for some time, since the u.k. came in a couple of years ago. this latest development is specifically around private credit. the $1 billion of the balance sheet, there will be a little bit more coming from full partners. this is part of a long-term move that they see in this area. across the world, lots of potential for assets in different parts of the world. nomura quite famous for having done a lot of expansion in various different parts of the world over the years. that is nothing new, but i think , really, this is a long-term push. this is an incremental part of the long-term push, the season taking a bigger slice of private markets generally. haidi: what is their competitive edge here? >> as we know, we have discussed extensively on the show how many banks are now getting into private credit. the boom and the size of the industry that is becoming so huge means that banks do have to offer a competitive advantage on what they can get. i think for nomura, it is abou

george buckley is chief uk and euro area economist at the investment bank nomura, here in london.ere. what are your expectations for 03? what are your expectations for q3? ~ ~' , what are your expectations for 03? ~ ~ , ., 03? well, we think it is going to be very _ 03? well, we think it is going to be very weak _ 03? well, we think it is going to be very weak and - 03? well, we think it is going to be very weak and i - 03? well, we think it is going to be very weak and i think. to be very weak and i think what is interesting is the bank of england just last week when they made their decision to keep interest rates on hold also published forecasts for economic output and they think it will be broadly flat over the course of the next couple of years. it is a very weak forecast indeed. it reflects the fact that we have had a lot of things thrown at this economy over the course of the last couple of years, higher inflation and higher energy prices. wars in europe, all of these things are bearing down on economic growth. but i think one thing to say is even if economic growth is very