according to our most recent poll, snb could take the deposit rate at -2.5%.ne, thank you very much. catherine bosley joining us from zurich. geoffrey yu still with us from ubs private banking. get your thoughts then, no change in many years, and likely to say the currency is overvalued. what are you expecting? geoffrey: a similar story. they had been intervening over the last three quarters or so, and you see that deposit data, slight concern around brexit. and they managed it quite well. in terms of i would say they did take policy in january 2015, they shifted from interest rate policy, just currency intervention policy right now. and i don't think the floor is coming back. but i think they want to be as far as possible about leading in an efficient manner. geoff, one of the criticisms of course was the gains and losses snb has made due to the intervention. it is a very delicate subject for them, in terms of going deeper into negative territory. but intervention seems very well tolerated, which is a surprise giving the g-20 on a permanent basis. alwaysy: we

. >> can i ask you about the snb. is it fair to say the snb is reacting to the other at this point? >> it could be. if they were trying to set policy, they would probably get washed over. so i think by standing aside and understanding the capabilities, that's critical. i think what's also noticeable is their communication strategy is very tighter than what we see in the feds especially where every fed member is coming out and pushing their ideas and getting interpreted by the market and causing significantly rogue volatility out of nowhere and extremely disruptive. the snb is much more conservative and has been -- you know, they haven't had a significant policy speech since, i don't know, april or may of this year. so it allows the market to sort of look at the da tarks you know, not try to interpret everything that's being said. and i think it's a very good way and a good model for many central banks moving forward. >> now it brings me to the boj. maybe there's too much talk, too much expectations. we did see a weakening of the yen there. do you think that's sustain snbl. >> i thin

how high would congressional salaries snb you wouldn't get very good representation. that's what happens to union members. polling tends to fairly consistently show a high level of dissatisfaction among union members with their state of representation. this is done where the overwhelming majority, 85% are private sector, 70%, including the government, feel their unions ought to be held more accountable. they want more accountability. similarly, he found that about two-thirds of union members think that the union executives are primarily looking at it for themselves and not for the little guy. that's a pretty high degree of dissatisfaction. it makes sense when you understand they are all getting represented by a union they did not choose. they are not happy with that representative. it can get worse in some cases. some take advantage of the system. a horrible example is going on in california. the hotel union is pushing balloting issues raising minimum wage for hotel workers, in long beach, california, in a number of communities in los angeles, they are pushing these b

the snb has a rate decision less in an hour's time. luke hickmore joining us. around $40 billion worth -- good morning. the bank expected to do very little today. this policy need changing? luke: not at the moment. think about the impact of policies and what it is going to be looking like. today is all about a bit of a calls, think about -- a bit of a calls -- how that is going get played out. guy: explain to everybody what the -- luke: we've got the list two days ago. a little bit of controversy around the names of the list and what they made by. that's what they made by -- what uy.y may b -- the impact is going to make an today that is what you may be listening for. it could be a very slow report from the bank of england. anna: -- caroline: give us your sense on the rebound in the data coming from the united kingdom. we are seeing an improvement in manufacturing and the services sector. today we get this -- retail sales. nervous.i am it is clear -- luke: i am nervous about it. it is clear that the longer-term impacts we are going to have to wait and see. we h