stephen: look, i, i think the rba, a lot of respect to the rba, by the way, i think they have given superb stewardship of the economy. but i do think that their growth forecast for 2019, or at least the most recent one, is way too optimistic. i think that there gdp growth forecast for 2019 was around 3.25%. i think it will be some the closer to 2%. i think the impact of declining house prices on wealth and therefore household consumption will be the biggest drag on the economy. we mentioned china is beginning to struggle. that is our biggest export market, by far. there are some offsets out there in terms of public spending, particularly on infrastructure, maybe some business investment, but not sufficient i think for the rba to hit its growth forecast. you can throw in an election there as well, and economies don't generally do well into an election. so i think, don't hold your breath for any rate change in 2019. i think there's an interesting speech by the deputy governor two or three weeks ago where he did say that we do stand ready to cut rates, he said, if needed. the current rba thin

it is rising on a december rate cut from the rba, the aussie dollar.in sydney, looking rose 7%t drill which after securing $171 million australian worth of new business. fallen -- this stockpiling the most in 17 months. the challenging conditions for global recycling continues will go into the near future. ramy: thank you. ever we have been reporting, vietnam looks set to host a second summit between donald trump and kim jong-un. it comes with fee at nonsterling to feel the effects of president trump's trade war but the prime minister told us in an exclusive interview the government will ong.devalue the d ,> we have had strong growth but it was a small scale, so we need to continue. per capita income has risen and the economy is growing. it will go -- grow further. >> what challenges might you face in getting your target? >> we have issues such as trade friction in the region and in the world. climate change and the lack of infrastructure in countries like vietnam, we are doing our best to overcome these with integrity, creativity, breakthrough and eff

the rba says australian household debt has sort -- soared. downrone that briefly shut the work liberty airport came close to hitting a united airlines plane. the pilots have been once that and under do the piecuch is in the area. he said it came within 30 feet of his right-wing. a shutdown disrupted flights and triggered lengthy delays. drones recently shut down a london airport. global news, 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. at -- a look take at the way the u.s. markets closed, there is no hint at the drama and turmoil behind the day. these global growth concerns led to things getting in the way. >> a lot of better than expected earnings. the big question isn't about global growth. in particular, how weak is china's growth? we go to the snapshot. the dollar snapped its recent rise. you also said -- had oil drop. if we go into the bloomberg, the real question with the s&p 500, it had climbed to try to get through the 50 day moving ave

you mentioned some of the concerns and what it will do to consumer sentiment is top of mind for the rba and politicians here in an election year, in terms of policies continuing to ,ominate, the key market thing president trump has invited top congressional leaders from both houses to a white briefing on border security after suggesting he wants to make a deal to end the partial government shutdown. joe sobczyk joins us from washington. is this a sign of an autoliv leave from trump? do we see a potential break in the stalemate? joe: the president has gone back-and-forth and forth a bit. he wants the wall to be a barrier. this is the first chance since the shutdown started on the 22nd potentialr for face-to-face meeting between the president and congressional leaders on the subject. thatven't heard publicly they had accepted the meeting, it would be tomorrow in washington and it is at least a chance for the talks to begin, but democrats are pressing ahead with their own strategy for dealing with this. what has been the strategy for the democrats in dealing with trump? have a fair bit of

move the needle when it comes to that early february rba meeting.n hong kong. after that inflation report from australia, we are seeing the aussie dollar pick up some momentum, adding .2%. not keeping track of the rally we are seeing an iron ore futures. singapore heading towards $83 a ton, given the impact of the disaster, hoping for iron ore minors in sydney. asx 200 gaining .2% this morning, set for the third gain in four sessions. elsewhere, we are seeing losses for stocks and wellington. in tokyo, the nikkei 225 down by .3%. littlepi is looking changed. we are keeping a close eye on apple suppliers. og display posting its numbers this morning. taking a look at some of the stock movers this wednesday, check in on -- this is the philippines has asked for the u.s., japan, and south korea to look into investing in the shipbuilding north of manila. the government is to finalize its decision this quarter on what rolet will play to save hanjin. role it will play to save hanjin. steve movers in tokyo. we have the mothers index. in tokyo.overs we have t

came through better than expected, you had one of the big four banks raise interest rates outside the rba has everyone concerned about the housing market and the aussie dollar up i've point 61%. -- up by .6 of 1%. we heard the bank of korea saying it is not time to consider further monetary easing and they cut their inflation forecasts down to 1.4% from 1.7%. nejra: but get the first word news from hong kong. -- let's get the first word news from hong kong. speaker of the house saying she will not let the present give the annual speech unless government agencies have open. there could be zero economic growth if the shutdown continues through the first quarter. business leaders are made bullish on the u.s. economy. -- president trump has recognized the opposition leader as head of state. this puts nicolas maduro under pressure threatening the six-year rule of the south american nation. international ido as theognized gua leader minutes after the declared himself head of state. and a plan toion establish a minimum retirement rate -- age. he does not want to risk that america's largest natio

cutou look at rate expectations for the rba, we were talking about maybe a move some time next year.onstant going forward into the early part of next year. do you think that is accurate? max: i still think the market is oversold on the aussie. everyone is widely focused on the housing market but it has not really hit the retail sales and the labor market data in australia yet. the commentary in australia is always focused on housing. is atg as unemployment the 5% level, i think it will saying that the next change is likely to be an increase rather than decrease. >> i want to get your thoughts on some of the other currencies. where do you see the indonesian rupiah going? think it's more of a carry currency than an appreciation currency. the fed overall is basically saying we will start ending the cycle soon. it's too early to start talking about cutting. when you think about how high their real yield is bolted to their inflation rate, that's what makes it an attractive market. even the u.s. rates become less attractive. rishaad: is there any run through of growth in the u.s. going to

the election and rba, or the fed?driver for the fixed income market, let's start there. mitul: probably all of those issues to varying degrees. clearly the r.b.i. will be important. think inflation might pick up in the second half of this year. and we look at the fiscal position, that will also be important for bonds. foreign investors will be watchful of that. growinga's connie still pretty well -- india's economy is still growing pretty well. their long-term prospects so look at the -- still look good. there is quite a significant caps on inflows, so i don't think we should be particularly worried about capital coming into india's market from foreign investors. after help bond rallies -- markets rally further david:. -- rally further. david: what would be your favorite ian currency? mitul: in require has a good risk adjusted yield. the reality is that elections are coming up, and it should be easy to win for the current president. we see little rest on the economic front. on that basis and given the more benign fed

democrat harley rouda defeated 15-term republican incumbent dana rba