Francine and the worlds top automaker at the geneva auto show. All this, plus the weeks most revealing charts coming up on bloomberg best. Hello, i am francine lacqua. Welcome to bloomberg best, a weekly review of the most important Business News, analysis, and interviews from Bloomberg Television around the world. Lets take a day by day look at the top headlines, starting at a bold policy step on monday from the peoples bank of china. Jonathan the big story is the Chinese Central Bank cutting the reserve requirement ratio by 50 basis points to 17 , reducing the amount of capital that banks need to hold in reserve. This hot on the heels of one of the biggest months of new credit growth in china. Is that a story here . Enda you are completely correct. This is both a significant surprise and a significant move, especially when you consider the amount of liquidity they have already pumped into the system. In the near terms, it will add to credit growth in china, and i guess that will help
This is countdown to live from london. It is just after 6 00 here in london. We knew that today was good to be all about Central Banks. We thought we would focus more on the ecb. Turns out, we have surprise out of new zealand. The surprise rate cuts from the new zealand bank, what did to the Government Bond twoyear yields, currency falling as a result of the surprising move. Thethe central bank cites Global Economy for doing this, further easing may be needed to meet weakness in the economy. It is ecb day, and we have people focused even more so on that scene. Let us check in on the radar. One central banker decided not to give further stimulus to markets, it was the south korean central bank. The south korean currency is increasing after the bank of korea gave no change to its Interest Rates, against all 31 major peers this morning. At this in on oil prices, at 38. 21 on nymex. But that was after some real strength yesterday, the wdi up by 4. 9 in yesterdays session in new york. And b
Stephanie a cultural leader. We think about what wall street has been or the last war years. Mike bloomberg to Michael Lewis talk about talking about what an extra ordinary character he was. This ecb announcement coming today. You are looking at green, matt miller. Poker andad liars that is what got me interested in this business. I had the honor of interviewing John Gutfreund on many occasions and an absolute giant in the industry. Anyone who has not read the book should. Look into his career. Markets, gains in futures ahead of the ecb meeting. All about the ecb meeting today. We were playing cool and the gang earlier, excited. Stephanie you were playing cool and the gang. I would like to separate you. Matt a celebration. Seeing what mario draghi does, the market expects him to cut the rate by 10 basis points, 80 . A 20 chance, according to futures that he cuts by 20 basis points. That would be the bazooka. Overnight in asia in anticipation of this, the shanghai, down 2 and hong kong
Ray you are probably going to lose. Francine and the worlds top automaker at the geneva auto show. All this, plus the weeks most revealing charts coming up on bloomberg best. Hello, i am francine lacqua. Welcome to bloomberg best, a weekly review of the most important Business News, analysis, and interviews from Bloomberg Television around the world. Lets take a day by day look at the top headlines, starting at a bold policy step on monday from the peoples bank of china. Jonathan the big story is the Chinese Central Bank cutting the reserve requirement ratio by 50 basis points to 17 , reducing the amount of capital that banks need to hold in reserve. This hot on the heels of one of the biggest months of new credit growth in china. Is that a story here . Enda you are completely correct. This is both a significant surprise and a significant move, especially when you consider the amount of liquidity they have already pumped into the system. In the near terms, it will add to credit growth
Lowering Central Banks. Theyre blaming the chinese. Look at the prices. Lets talk about what is going on. Its ecb day; we are counting you down to that decision. My question is, will draghi this a poin disappoint, and how doese helps the banks . Hans those are the key questions what does he do, how to see where the two hats . How do they spur growth, what happens if they bring the deposit rate down even further and the banks cry uncle . Think weuestion i could hijack the rest of the programming so we can talk the whole way through. I know you are excited but well try to contain it. Guy five hours, 13 minutes, 24 seconds. We are excited. Lets talk about the european open. Lets talk about where we think the open will be. Absolutely flat. Column is pretty flat. The market is waiting, hans, for what is happening with the ecb later on. Hans i think that is the key question. Its driving a lot of the volatility. We take a look at what is happening with the dollaryen, you can see good softenin