You are welcome to bloomberg flagship europe, our show in the city of london. I am manus cranny. Hard brexit raising. And how itrling performs on various moments of rhetoric that are used. Theresa may taking to power the reaction to her Party Conference speech. It dropped by over 1 . Then we have her new year setting the scene for her brexit negotiations or the lack of detail vera. It dropped by nearly 1 . Overnight, what you are seeing is a real move, sub 120. Theresa may will announce taking control of immigration is worth giving up participation in the European Union. That is the information from the sunday times article. Government officials said they expect mays speech to cause further market correction. 41, or below . ,hat we really want to know is is there enough momentum in this speech to take sterling lower . We understand. We have not seen this in many years. Government officials are preparing to talk to the market. There is always bilateral conversation, but government offic
Some of which have been growing at negative rates and are expected to bounce back. Other than that, theres more growth momentum in the advanced economies in china. Wide dispersion of multiple outcomes around the projections, especially given we dont yet know the details of president elect Donald Trumps policies . Absolutely. We think the uncertainty has risen and we still see the risks as pointed toward the downside. Its not just about the u. S. Certainly theres a lot of uncertainty about what the policy package coming out of washington will look like, but in europe, theres a crowded electoral calendar going forward. Details of the brexit negotiation are not known. We may learn more tomorrow and think aboutt to when we try to forecast next year. Its worth thinking about the spillovers of trumps changing policy mix of which we only have notions right now. We are talking about global inflation rising and trump listing all boats. Is that the case . Does a rising trump tied raise all econo
Megan this is a story that goes to the scramble in india. They extinguished their two largest bank notes to combat corruption and fraud in that market, but what it has really led to in this country and we see this in developing countries, the push for digital payments. What kind of space this is . The story it sort of captures that it is still wild west. We described it as a lot of people now pushing into digital payments. People dont even have cell phones. They are moving up the rung and theyre going straight from not even having a bank account or cell phone to processing all their payments online digitally. It is a multitrillion dollar market and shows how for people who are brave and innovative, who are willing to take risks, and really just sort of get that technology, and amass that technology, there is huge fortunes to be made. Oliver there is a big point of conversation, the advent of fake news. There are people combating it. It has become a big deal and played a central role in
Focus, warning that the central bank has limited tolerance for rising prices. Cpi data due at 9 30 gmc. Francine and live from the World Economic forum in davos, switzerland the future of finance. John cryan joins our debate about the transformation of the industry, do any moment. And in european banking, we will be speaking to the Credit Suisse ceo. Dont miss that exclusive interview at 9 15 u. K. Time. Stealssident xi jingping the spotlight, with his first speech ever at the forum. Lets get back to the World Economic forum in davos, with bloombergs tom keene and his panel on the future of finance. Tom if you dont make it every 90 days, the world falls apart. We have a panelist to provides us with a terrific historical committedwho has been to acquiring for the United States of america different pieces of our heritage and history and possibly understands the 1930s like no one in the room, and certainly a political moment we are in worldwide. Finally, we have a panelist to full disclos
She pledged to pull britain out of the european Single Market. She said staying in parts of the customs unit is preferred. She aims to avoid a cliff edge. She wants transitional arrangements for Financial Services and no more huge contributions to the e. U. Budget. We are leaving the e. U. , not europe, she said. What a day to use our wonderful wcrs function. The big mover i want to talk about sterlingdollar. Biggest intraday move for the pad against the dollar since 2008. Shows the oneday percentage moves. We have risen as much as 2. 5 . The biggest move since 2000. Yesterday, we fell 1. 1 . Close sinceowest 1985, yesterday. Day after brexit, when sterling fell against the dollar most it percent. The part investors seem to like is that mps get a vote, they have to rubberstamp the final brexit deal. Ands stick with Sterling Sterling volatility against the dollar. Yesterday, we saw a fourth consecutive gain in sterling implied volatility. 19 , we are falling down the most in september,