A headline that i found actually was geek boy from ireland and he tweeted at us and he said christ report fake customers in the restaurant an illusion of demand theres a kaiser report analogy in there somewhere and he was referring to an artsy headline that one german restaurant has found a solution to maintaining social distancing on his reopening manikins the family run businesses fail tables with plastic people in order to keep customers apart and create a vibrant dining atmosphere that is not creepy at all no not creepy. No its like that film airplane remember if they had the blow up pilot. Yes my ear. Yeah all kinds of mr fall out catch that film very missing well yes the potemkin villages in Northern Ireland during the crisis make it look like stuff was going on but there was Business Activity where there were no Business Activity so this illusion of demand is key to our modern economy because its demand 1st then supply is lay people think about supply 1st the demand like are goi
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Bloomberg surveillance, im Francine Lacqua in london. There is movement on the pound because what we heard from the boe. It has been absolutely amazing trying to figure out exactly the premise at which mr. Bailey is expecting the economy to do. We understand the bank of england is expanding stimulus as soon as next month to help the battered u. K. Economy. He once again reiterated that there is an unwavering pledge, which basically means that the market is taking it as further boe action possibly being imminent. Set and of england will asked if necessary to deliver the monetary and Financial Stability to deliver longterm Financial Stability. We are speaking to governor bailey later on. Know whether that means we have negative rates next, but certainly to have an impact on euro. I thing we have a data board for you. Is an actionfilled Currency Central Bank kind of day as we also heard of a lowered benchmark rate from norges bank. Lets get straight to the bloomberg first word news. Top t
Shortly. What do you observe this morning, nejra . Nejra im observing headlines coming through right now from andrew bailey, in the core with journalists he is having right now, that it is clearly a commitment to take action, saying the qe program is highly aggressive and appropriately is so. Also saying there is no evidence the boe is targeting any part of the yield curve, but what is really interesting is we did see a little bit of differing views in terms of the decision today. There were policymakers that wanted to extend qe today, but the reaction to the fact we have had no change in policy today is coming. Analysts say we will get more qe in june or august or both, and the pound catching a bid off the back of the boe forecasting the vshaped recovery. That is what i find staggering. A 15 rebound in 2021. Tom i think you are dead on in that, nejra. There is no question what six out within all the excel spreadsheets and the heroic language at this moment, really with depressionera e
Lagarde,at, christine madame gore gave a of the International Monetary fund, and your conversation with Andrew Bailey. Francine if you distill what we are trying to do, there are three main questions what kind of recovery and recession will be get, the inflationary versus deflationary debate, and the economic scarring. We will try to do that with the bank of england and the imf, touching on what countries may need support in the future. Christine lagarde also extremely interesting because it will be the first time we hear from her since the German Court Decision so we will hear from her about the legality or not about what they did. Tom the complexities of this German Court Decision, George Saravelos out with a blistering note, wondering even if the ecb will respond to the german court. We respond to our first word news. U. S. And china trade negotiators will speak as soon as next week to try to make progress in implementing a phase one deal, President Trump threatening to terminate th