aton french, chief economist panmure gordon is still with us.hat the central bank divergence is going to continue for a while. how much longer? simon: outside my forecasting horizon. the interesting thing about what the bank of japan said overnight is that it begins an actual downgrade in the inflation forecast when the reissued them in july. they are talking about less than 1% been the run rate for japan's cpi. actually having seen a steady increase, we are starting to see that roll over. if you're looking at when policy stimulus is actually going to be removed, i think we also need to consider the story we were talking about before the break. an environment of trade tariffs, or potential he a safe haven strengthens the yen, you have not that those inflationary pressures pushing through that may have second order effects into the widget settlement, which is -- wage settlement, which is what governor kuroda definitely needs. i think we will have to wait until 2022 c eight cessation of a cessation of qe. anna: this is a chart around central-bank

simon french, chief economist at panmure gordon, joins me now. thank you forjoining us.resa may there is interesting enough. we want answers quickly. everyone looks to hope for the answer, along with business things do need to go quickly now with only nine months left. the problem is that the two sides in this negotiation do not see eye to eye on some key redlines. it was quite interesting from the eu commission president yesterday saying that some of those redlines need to be revisited politically that will be difficult for theresa may and will need to be done in a key meeting this week. we are treading water yet again had a key eu council because of this. be during council was expected to be the point at which both the transition deal and the new settle m e nt transition deal and the new settlement were set out, giving business and all citizens are enough clarity, enough of a leading time until brexit date in 2019 to make preparations. now the earliest that seems set to hop on —— and is in october, potentially reaching into 2019. it is a short window to make a transiti