Official cash rate being kept on hold, 0. 25 . They are prepared to provide additional stimulus. Just keeping you crossing these additional lines coming through. Monetary policy needs to support the economy for a long time. The economic recovery is on track. The funding may be ready before the end of the year. There is progress being made on additional monetary calls. There has been a rise in unemployment and an increase in firm closures. These lines crossing the terminal now. They kept that cash rate on hold as expected. Just keeping calm and carry on. You mentioned that november review of the Monetary Policy tool. A lot of questions that they will deploy are negative Interest Rates. This is what the market seems to be pricing in. You see that new zealand 10 year yield ever so slightly get into those record those for yields right now at 47 basis points. Lets check the markets to see what else we were expecting. A lot of central bank action. At these newg zealand assets right now. We a
What is so interesting is where central bankers will be. Mark carney, the governor of the bank of england, it is just out across the bloomberg that he has finally landed. I thought he would be running the toronto maple leafs, but he will join the venerable brookfield of toronto. This is one of the Sterling Companies of canada, 100,000 strong. Esg. E will go all lisa hes going to be leading the environmental and social governance Investment Strategy at brookfield, which is eventually expected to rival the size of its real a structure businesses. The question is, what does this mean . Tom this has clearly been one of the leading efforts of the former governor of the bank of england. Our Francine Lacqua numerous times in interviews on esg as he led the bank of england, i would say more than any other central bank. Maybe i would get a hat tip to the bundesbank as well, but clearly leading on esg. I heard him speak on this at davos as well. This is to me a very natural outcome to see him jo
Bloomberg surveillance. This is what the markets are focusing on. There is quite a lot of m a news. That is giving a lift to the market. What im looking at is a couple of technology stocks. Couple of other things such as crude oil edging higher, so does gold. Global shares off a back to back decline. To bloomberg first word news in london. Optimism over a coronavirus vaccine. Pfizeref executive of says its likely it will by the end of the year. They say theyre dependent on Regulatory Approval but says the firm has a good chance of knowing the efficacy by the end of october. Secretaryief cabinet won the race to replace shinzo abe. National in the group will use this majority to install him as Prime Minister in a vote on wednesday. The uks justice secretary has warned he may quit over the government plans on brexit. He says it hasnt reached that stage just yet. The controversial rule has this week. Boris johnson is facing a growing rebellion to override part of the divorce agreement alre
The show. A oneday day holiday on monday. We have seen initial gains of 85 , but still a healthy debut. A big ipo in hong kong. Smic is picking up 3 despite reports earlier. Gaining and alibaba is also up, close to four points. Currencies it onto in terms of cnh. It is around the level that it was fixed at. Pound, between brussels and london, increasingly concerned. It is currently down. 4 . 39, 1. 7 . Yvonne how they are going to reopen is still the key question. More than 4 incline. A rallyting a blip for reversal. Thisrine, we have seen text selloff just for a bit. Thisthat it can lead market at the moment or i looking too tired at the moment . On one side, you see the market really being driven with a lot of liquidity and strong retail participation, also in the u. S. , so i know it is contrarian, but when you look at the sectors, some of these companies are delivering on earnings. Fundamentalsat the and these companies that can achieve earnings growths. What kind of correlation ar
Good morning, everyone. Welcome to bloomberg surveillance. Im Francine Lacqua here in london. We are getting some breaking news out of the u. S. This is President Trump, according to bloomberg sources, putting up to 100 million of his own cash into the president ial race. This is what the markets are looking at. If you look at eurodollar, there is a bit of movement on eurodollar, but also pound. European stocks are sliding, led by technology stocks. Oil dropping 28 two month low to a two month low. There is concerns that President Donald Trump has been stoking these tensions with china and germany. We are seeing construction companies, Mining Companies leading losses across the stoxx europe 600. Lets get straight to the bloomberg first word news. Good morning. Lets start in the u. K. , where the chief brexit negotiator has called for realism from the eu ahead of the latest round of trade talks today. Hean emailed statement, warned britain must be treated as an independent country if pr