Do you feel like youve got the visibility and transparency and tools to address it. It makes me nervous because this has echoes of 20082009 when vacancy rates were declined rapidly. How do you feel . Does that risk continue to be manageable . Chr. Powell i would say yes to that. I think it is manageable and weve been working hard for some time now really and what it really is is its a lot of downtown real estate where theres too much officesupply because of work from home and also the Downtown Retail that is no longer as profitable. Things like that are at the heart of it. So what we have done is weve looked at banks that have significant concentrations and weve been in touch with them to make sure they have a plan to deal with that. There will be losses by some banks. Its really medium and small sized banks that have these higher concentrations. Its good to be this problem we work through for several years and the idea is you have to have enough capital and liquidity and a plan to tak
Haidi welcome to daybreak australia. In sydney margaret have just come online. Annabelle im annabelle droulers. We are counting down to asias Major Trading opens and the stop top stories this hour. A positive move as wall street heads its 15th record high of the year. Investors are awaiting jay powells report to congress for dates on the fed rate outlook. Haidi ahead opecplus extending its supply cutbacks until midyear amid soaring production from rivals and uncertainty over chinese demand. Stephen in beijing, one of chinas most important gatherings of the year is about to begin with leaders set to unveil their targets and strategies, perhaps policies, for road reviving the economy. Annabelle kicking of the week with breaking data out of korea this morning. We have industrial output numbers dropping but coming in better than expected over the course of january. Output of more than 12 or 13 on the year passing estimate were 10 . Also industrial output is falling, still and a contraction
Now on bbc news newscast no interest to cut rates yet i think it does because itjust taps into the thing that, perhaps often, with the various rows and elections and staff can occasionally cloud what we as journalists know and the Political Parties who are aware there is a general election coming which is the Biggest Issue by a mile when they do their focus groups with voters or they were out knocking the doors. This is to state the obvious but it cannot be stated often enough, the Biggest Issue is the cost of living. Ultimately, the economy, vitality or otherwise of the economy and how do people measure that . They do not measure it in gdp is Interest Rates, they measure it and how well off or not you feel and that is the big, big topic. You feel and that is the big, big toic. ,. ,. , topic. That is the politics of it. I not a topic. That is the politics of it. I got a little topic. That is the politics of it. I got a little insight topic. That is the politics of it. I got a little in
Diplomacy orforce . In gaza, israeli troops enter rafeh, so where does that leave a ceasefire agreement, the future of palestinians who evacuated to rafah and the fate of the israeli hostages . Well talk live to this woman in tel aviv, whose relative is still being held by hamas somewhere in gaza. And to unicef, about the situation on the ground in rafah. Our diplomatic editor mark urban is here on what the chances are for a ceasefire now. Also, tonight, the star witness at Donald Trumps Hush Money Trial Today Was Adult Film Actor Stormy Daniels, who testified in vivid detail about when she had sex with him mr trump denies it. Here she is talking to newsnight in 2018. He attacked me first, i was called a liar, that it never happened. And unless hes had a Penis Transplant then im pretty sure thats a checkmate. In court, ms daniels gave plenty of detail about her alleged encounter with him. So is trumps legal battle having an impact on the election . Mark has travelled across america to
Plan didnt create a coherent transport network. But mayor of the West Midlands, andy street, says while hes disappointed at the decision , he believes all in the decision, he believes all in all, its a good compromise. Now away from tory Party Conference, the sunderland man who died after being attacked by whats thought to be an xl bully dog, has been named by Northumbria Police as ian langley. Police attended the incident last night following reports a dog had injured the 54 year old who was taken to hospital with life threatening injuries. A 44 year old man has been arrested on suspicion of murder and an investigation has been launched. The dog was destroyed at the scene. A second dog has been seized. A sixth person has been seized. A sixth person has been arrested in connection with the crooked house pub fire in staffordshire, a 23 year old man from leicestershire was arrested on suspicion of conspiracy to commit arson with intent. Hes commit arson with intent. Hes been released on