By an israeli airstrike. The Israeli Military has denied responsibility, saying the blast was caused by a failed rocket launched by the gaza based Militant Group Palestinian Islamic jihad. Us President Joe Biden is currently travelling to israel, but a planned Summit Injordan with arab leaders has now been cancelled. Biden s visit is designed to further demonstrate americas support for israel. The white house is saying the us is optimistic about getting humanitarian aid into gaza. On our website we have a live page that is constantly updating with the latest developments but now lets focus on the top Business Stories. Here in europe in a few hours we will be getting a clearer picture on where inflation is headed. For the uk and eurozone the latest data is out today and its hoped the cost of living crisis will continue to ease. In the uk the rate of inflation slowed to 6. 7 in the year to august. For the eurozone the latest estimate has inflation hovering around 4. 3 . For Central Banks
Any news of prices falling increases the hopes from investors that the fed will start cutting the main interest rate, sooner rather than later. Joining me now is wei li, global chief Investment Strategist at blackrock. Thank you for being here. What impact is this having on the markets this morning . This is a welcome relief. We are seeing some information as expected. Part of the inflation is cooling down a little bit coming from very elevated levels earlier in the year. Also encouraging the core goods inflation it is actually negative which again is a welcome release and has been driven by mismatch unwinding. Iwas has been driven by mismatch unwinding. I wasjust has been driven by mismatch unwinding. I was just looking at Market Pricing for 2024, it was at 1. 6 and after this inflation went out for 2024 and just for context, at the beginning of the year Market Pricing had cut because of higher than expected inflation prices. With a more positive inflation than the stock market as wel