Shrinks, but it doesnt set the u. K. Up for a good spot Going Forward. We are seeing the relationship between fiscal and Monetary Policy really evolve the u. K. We will break that down over the next few hours. You are seeing bond markets bid across the board, as we are koff develop. We want to kick it off with Michael Mckee. Theld central bank mike,entral banks if i say mmt, am i wrong . Anyway. Yeah, [laughter] its confusing, though, what is going on with the economic philosophy called mmt. Yes, it is unlimited cash in unlimited amounts for unlimited periods of time until we get through this. Youre still going to work your tail off today before we get to 4 00 p. M. Lets start in london come over the bank of england is going to finance Government Spending for the time being by lending money directly to the treasury. It is called the ways and means facility, a shortterm credit the last used during great financial crisis. Government and the bank say any borrowing will be repaid by the en
Coming across the country were now looking you are born with. Because the numbers are growing up that quickly. Turkey indicts 20 suspects said to be involved in the murder of saudi journalist Jamal Khashoggi in istanbul and a siege at a sikh center in the Afghan Capital as government storm a 70. Welcome to the program the largest lockdown in the world this wednesday is in india where 1300000000 people have been told to stay at home and the Prime Minister Narendra Modi made the order which is expected to be involved for the next 21 days ports Roads Railway services and ports are being closed in an effort to stop coronavirus spreading through the dense population its feared 1000000 people could be infected by mid may elizabeth problem is our correspondent in new delhi and joins us now a major lockdown across india and the reaction really of being housebound is dawning on millions of people. Yes so people are getting used to it after a few days of it now but the 1st official complete lock
Across markets trying to figure out what the latest tariffs mean for some of the allies of the u. S. This after moves against an array of trading partners. Lets check in also on crude. Opec starts in a couple of days. We also have a great lineup of guests today. Later the brazilian environment minister and a 10 00 a. M. U. K. Time we have the chief executive officer of. Lets get straight to the bloomberg first word news in new york city. We begin with this, no impeachable offenses, that is the conclusion of the report of the investigation of the republican report of investigation. The democrats are expected to release their findings, that is ahead of the u. S. Judiciary Committee First public hearing on wednesday. Possibly the worlds most ambitious policy to combat Climate Change. European leaders are set to bringing net emissions to zero. Eu is also considering over the hong kong, the chief executive is planning more relief measures as ongoing unrest continues to impact the economy. S
A move that would mark a stark change for the owner of craft and burger king. Nejra welcome to daybreak europe. We are coming to the tail end of earnings season. We have numbers breaking from abm amro. The thirdquarter operating income comes in at 2. 1 billion euros. The estimate was 2. 13. Buts a little soft thirdquarter operating income pretty much in line. The thirdquarter profit income ratio, 59. 4 . Comments coming through here is that the timing of the completion of the dutch probe is uncertain. A few things to digest. We will speak to their cfo, coming up. To the markets. We are seeing a down day in asia. We heard a lot from President Trump yesterday, speaking about trade and the fed, comments we could see a trade deal. If we dont have a tariff hike. We are seeing risk off in equity markets. The hang seng leading declines with a Third Straight day of protest in hong kong. Volatility rising in that index as well. The kiwi is jumping the most in nine months. Switch over the board
Just get an idea what of idea of what is going on. Corporate earnings flow in. That is the main story right now. We see barclays out with numbers today. We seen a number of companies out the numbers today. Overall indices are not going anywhere in a hurry. Stick a look at where we sit with the major markets. 0. 2 , justown by backing off the 400 level. The pound down a little bit. Ruble saw a 50 basis point cut from the russian central bank. The governor delivering a little bit of a surprise on that point. Whats happening with the major e . Rkets in the states, romain the s p relatively directionless. A lot of mixed earnings here. , athe s p 500, your leaders maker of medical devices, Companies Like mohawk. You are getting a little bit of a boost in the Philadelphia Semiconductor index with names like intel, which surprised a lot of folks, making that transition away from pc chips into data centers. Really surprising people. This has turned out so far to be one of the right spots in th