eddie: if you look at the rba, they are probably the most hawkish compared with the rest of the major central bank peers. they are concerned about inflation, but if you look at the last gp growth trend, pretty sluggish numbers. we suspect the rba may ease toward the end of the year or beginning of next year, and a rate is probably out of the question. mark: you said you still believe in a soft landing in the u.s., the change in the fed cycle, the election. does this point to the idea that maybe there's a chance for the rest of the world to play catch up? that we might go through a period that u.s. stocks don't necessarily go into a volatile market but whiplash, they've had extraordinary gains already, the rest of us would love a soft landing. the fed easing of the dollar, and the rest of the world is still cheap. if so, where the best places to do it? eddie: if the u.s. economy or markets would tank, i think the rest of the world would not do too well either. but if it's just a slowing of the economy and the feeling, it could bode well for other economies in asia. the fed easing is su

so what does the rba want to see, then, before it considers cutting rates?elf working towards? well, i think the ongoing high interest rates in australia are working towards slowing the economy, which is basically what the reserve bank wants to see more of. the reserve bank wants to see ongoing weakness in demand, opening up spare capacity and taking pressure off inflation, and specifically it wants to see more evidence that underlying inflation — specifically services — is falling towards its 2—3% inflation target. later on tuesday, a senior executive at it crowdstrike will face questions from the us congress about their disastrous software update in july that caused the largest global it outage in history. it affected millions of computers running microsoft windows around the world, crashing the systems of banks and airlines. according to one estimate, the disaster cost top us firms more than $5 billion. our technology editor zoe kleinman looked at the effects of the outage. thousands of flights grounded, doctors' appointments cancelled, tv channels fallin

we could be surprised as well from rba and others, but we do expect to hold this week from australia. new zealand, we are definitely going to be having some cuts because the economy is on the brink of potentially another recession, but as for the other economies, just wait and see for the next month or so. october, there's going to be six to eight central banks in an eight-day period all the siding policy, so that will be another important one to watch. we thought we are going to get the fed over with and move on and things will be calmer -- actually, no. at least for the asia region, we are going to get mid-october, another flurry of decisions. paul: they are just getting warmed up. we asked j.p. morgan asset management's global head of fixed income about what the fed's jumbo cut means for bonds. >> we are telling clients, just to get into the bond market. just get into a general bond fund. it could be an aggregate investment-grade bond fund. it could be a core plus bond fund if you are in a high tax bracket. get into a general municipal bond fund. yields are coming down. paul: our n

the market there guiding state banks around selling certain securities and i will take you into the rba. it was a hawkish hold. all economists had expected this. still holding onto the gains, up almost .4%. outlook is unclear and slightly off from the other central banks we have seen because inflation seems to be persistent for the policymakers. >> a check on the markets and a reaction across asset classes to this decision to push through more support and a check of the rba. and let's get more details in terms of what's come through from beijing. unleashing a raft of policy support as the government makes the broadest effort yet to hit the growth target of about 5%. >> we will cut the required reserve ratio and policy rate and guide the market benchmark rate downward. and we will lower the mortgage rate for existing housing loans and unify the minimum down payment ratio one third and establish new monetary policy tools to support the stability and development of the stock market. >> who better to give perspective and analysis than bloomberg's chief north asia correspondent who has follo

investment expert shane oliver explains the factors that will affect the rba's decision.ill concerned that demand in australia still remains too strong, the labour market remains too tight and, of course, inflation remains too high, particularly in the services sector. and we were told by the reserve bank governor, michele bullock, about two weeks ago that it doesn't expect to be able to cut interest rates in the near term, which has been interpreted as "in the next six months", or by the end of the year, so i suspect that they will leave interest rates on hold yet again given those considerations. later on tuesday, a senior executive at it security firm crowdstrike will face questions from the us congress about their disastrous software update in july that caused the largest global it outage in history. it affected millions of computers running microsoft windows around the world, crashing the systems of banks and airlines. according to one estimate, the disaster cost top us firms more than $5 billion. our technology editor zoe kleinman looked at the effects of the outage

while we are awaiting the latest rba rate decision coming up in the next hour.k is expected to hold rates steady today as housing costs, including rent, continue to drive inflation concerns. it's how it's looking for the asx 200 index. trepidation is down by .03 percent. not joining the rally that we see in the rest of the region in terms of the aussie. 6848. that's how it's looking for at the 10 year yield in -- the rba decision due in about 35 minutes. widely expected to be standing pad today. in terms of broader market, let's do a check on how the chinese markets are doing before we go on the back of that slew of measures to prop up not just the markets, but also the economy. perhaps a moved to maintain that 5% growth target. we have the csi 300 index inching upwards up by 2.5%. we have csi currently up about two .5%. chinese economic stimulus plan lifting stocks pretty much across asia. that is it from bloomberg markets: asia. horizons middle east and africa is next. keep it here with us. this is bloomberg. ♪ growing your business is easy once youw the moves

the aussie is likely to remain resilient and rba not pressured to cut. the monetary policy divergence is a positive and china coming in, higher is positive if you look across. haslinda: market are pricing in perfection, how might currencies be impacted if there is a surprise? >> the alexion are just so close, too close to call. the biggest risk is a clean sweep because then you can see big packages. obviously with trump winning the concerns, up for the region with talk of tariffs. we saw the implications in 2018 in this region so that territory , that tariff tough talk is not a good thing for this region. >> the risk is on chinese currency, uh, or, uh, other currencies? >> we have heard that trump would like to do free trade zones but market is not reacting. elections are too close to call. you can only react in december, you know, from now to december the fed will cut 50 basis points. very difficult to go along on the dollar, tariffs will be a conversation here. haslinda: talk trade -- top trade would be? >> aussie kiwi. >> likelier. eugenia and mary ni

jeff: for the rba, we expect it could kick rates over. there is a chance a could cut but given that the july numbers are fairly elevated, i think that could support the australian dollar in light of the fed rate cuts. we are not expecting a lot more strength from the australian dollar going forward. we saw -- we anticipate it could be slightly higher. the chances of hitting 70 could be there but not looking too strong at this stage. avril: circling back to the event this week, the u.s. labor data. in terms of whether we are looking at jobless rates or payrolls for the reduction in slowing, what is most important to you? jeff: not just looking at one or two but at how the ebit is evolving. to see if there is rebound in the nonfarm payroll number and a slight reduction in the unemployment rate. if it slips to 4.5% or higher in a short amount of time, that could really cause markets to move further in terms of more expectations of a 50 basis point rate cut by the fed. avril: jeff ng from sumitomo mitsui banking corporation. paul: still to co

how likely is it do you think the rba will move on inflation it needs to see and do you think there'se way it looks at the inflation basket? >> we do think inflation on an annual basis is trending lower. a year or so back, we were talking about 6% to 7%. after that, the average and 5% handle, we think it will be 4.2% to 4.5%. the trend has been successively coming down. i think that's one thing the central bank might take note of. the other one is seasonal reasons and seasonal weather pattern related reasons usually disrupts the disinflationary process around the middle of the year and that has come to pass this time. if you see high-frequency data, goods are coming down. we think this would satisfy the central bank. the third one being core inflation has been quite weak for the past quite a few months now. with these points, i think the central bank would be happy but of course -- i don't think they would take their eyes off food inflation. there was a discussion on whether they should look at core instead of food. just look at all the pressures minus food. i don't think they will ag

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we think the rba will emerge as one of the least dovish central banks. we do not expect them to cut rates this year. in comparison to the likes of the fed and ecb and other central banks, the aussie could start emerging as a higher-yielding currency. we have a fairly constructive outlook on the us trillion dollar, notwithstanding the fact -- on the australian dollar, notwithstanding the fact that worries about china could continue. in the race to the bottom the australian dollar could emerge as a high-yield. francine: stay right there because i want to talk more about the swiss and also petrodollars. coming up, the latest out of israel as large labor strikes begin in the pressure on prime minister benjamin netanyahu is ramping up. that is next and this is bloomberg. ♪ francine: welcome back. i am francine lacqua in london. happy labor day to our u.s. viewers. u.s. markets are closed for the holiday. it is the friday report and two days before that the u.s. government also the july job vacancies -- the measure of labor demand is seen easing to a three-mon