will be achieved in a sustainable and stable way. under these circumstances, we believe the large—scale monetary easing measures have fulfilled their roles including the negative interest rate policy and the yield curve control. live now to janet mui, head of market analysis at rbc brewin dolphin. welcome to the programme. so japan now begins this journey to normalisation as the bank of japan is saying. is there a confidence that this rise to 0.1% will actually deliver on the ains?_ that this rise to 0.1% will actually deliver on the ains? good morning, thanks for having _ deliver on the ains? good morning, thanks for having me. _ deliver on the ains? good morning, thanks for having me. i _ deliver on the ains? good morning, thanks for having me. i think- deliver on the ains? good morning, thanks for having me. i think the i thanks for having me. i think the hope is that it will, because japan has been trapped in decades of deflation and low interest rate environment, and finally there is confidence coming from the bank of japan that we are actually seeing normalisation, back to rising interest rates, rising wages and inflationary environment, so i think this could give businesses the confidence to invest in a more normal kind of environment. and hopefully the high wages, which is now outpacing inflation, will help to support consumer spending. but of course, there are concerns as well because this is just a baby step and there is no clarity on the monetary policy outlook. 50 there is no clarity on the monetary policy outlook-— policy outlook. so in these early hours of the _ policy outlook. so in these early hours of the announcement, - policy outlook. so in these early hours of the announcement, it | policy outlook. so in these early i hours of the announcement, it was expected of course, but we are there now, how have the markets reacted, how is the business climate reacting?— how is the business climate reacting? how is the business climate reactinu? , . , ~' how is the business climate reactin? , ., , «a, reacting? yes, actually, the bank of ja an has reacting? yes, actually, the bank of japan has been _ reacting? yes, actually, the bank of japan has been guiding _ reacting? yes, actually, the bank of japan has been guiding the - reacting? yes, actually, the bank of japan has been guiding the markets| japan has been guiding the markets so that they would eventually exceed the negative environment. this was kind of well expected although they are not sure which particular meeting. so in terms of the market reaction, the japanese equities were up, which is sustaining the positive momentum so far, and the bond yields were down a little bit and actually, the japanese yen has fallen versus the japanese yen has fallen versus the us dollar and other currencies, because as i say, it's just a baby step in the bank ofjapan actually range —— but the bank ofjapan say they will start at a maintain an easy military environments up and so typically when you see an interest rate rise, it is versus the dollar which has actually been relatively strong, due to costs in the us. after nearly two decades of this fairly loose monetary policy, many analysts are saying it was an outside shock that triggered this move and changed the decision that was of course high import costs because of the ukraine water. we have these big announcements coming from the us fed, the bank of england, japan will be watching this very closely. what will it mean to them moving forward? i very closely. what will it mean to them moving forward?— very closely. what will it mean to them moving forward? i think the bank ofjapan _ them moving forward? i think the bank ofjapan was _ them moving forward? i think the bank ofjapan was doing - them moving forward? i think the bank ofjapan was doing its - them moving forward? i think the bank ofjapan was doing its own l bank ofjapan was doing its own thing because obviously it has not followed any of the major central banks and raising monetary interest rate for the past two years so it obviously is running its own monetary policy according to its macro environment. i think that actually right now, the macro environment is favourable forjapan to raise interest rates finally but as you can see, the market reaction was very minimal. so it really is not the kind of disruption that some analysts may have fared whenjapan exited this negative interest rate policy. exited this negative interest rate oli . g ., ., ~' j, exited this negative interest rate oli . g ., ., ~' y., , exited this negative interest rate oli ., , . policy. janet, thank you very much for “oininu policy. janet, thank you very much forjoining us- _ to the uk now — where a new report reveals the availability of childcare places has worsened across all age groups. fewer than one in three councils have enough spaces for children under two at nurseries and childminders. costs have also risen, by 6% this year — that's according to the charity coram family and childcare. parents say they are having to travel longer distances and even borrow money to meet childcare costs. the uk is one of the most expensive countries for childcare in europe. let's speak to the authors of the report — ellen broome, managing director of coram family and childcare. welcome to the programme. some of the figures are quite shocking, above inflation rises in the cost for parents. what else did you find while putting this report together that was surprising? i while putting this report together that was surprising?— that was surprising? i think our re ort that was surprising? i think our report paints — that was surprising? i think our report paints quite _ that was surprising? i think our report paints quite a _ that was surprising? i think our report paints quite a bleak- that was surprising? i think our i report paints quite a bleak picture for parents, they are facing a double whammy of both dramatic drops in the availability of childcare places this year and also above inflation rises in childcare costs. so i think a lot of parents will be familiar with this, i think they're quite worried about how to pay for childcare and whether they will be able to access it as well. i would say the extra childcare funding has been announced by the chancellor last year in the spring budget has the potential to be a bit of a game changerfor parents up the potential to be a bit of a game changer for parents up and down the country who are facing those really high bills. but it is in addition to the complex system that is already buckling a little under the strain, and we can see the growing shortages, higher prices and i think ourfindings raise some shortages, higher prices and i think our findings raise some of the clear questions about the ability of that current system to deliver the extra childcare for children and families. i think it is accepted that childcare in the uk is effectively, the system is effectively broken and yet, there are estimates that if it could be fixed, could be worth £11 billion to the uk economy. how do you reform the entire system or is itjust you reform the entire system or is it just a case you reform the entire system or is itjust a case of money? m0. you reform the entire system or is itjust a case of money?— you reform the entire system or is itjust a case of money? it 'ust a case of money? no, i think itjust a case of money? no, i think it is definitely _ itjust a case of money? no, i think it is definitely about _ itjust a case of money? no, i think it is definitely about reform. i itjust a case of money? no, i think it is definitely about reform. first l it is definitely about reform. first of all, in the short term, and the next few months we need the government to work really closely with both local authorities and childcare providers to make sure that they are supported to deliver for families, that they are supported to deliver forfamilies, that's that they are supported to deliver for families, that's what we need right now, otherwise there are some very real risks are in this policy not living up to parents' expectations. but in this general election year, i think it's really important that political parties, all of them, commit to genuine reform of the childcare system, so we can have the affordable and accessible, high—quality childcare system that we know we need, and that addresses some of the systemic challenges of the year of prices and these drops in availability and concerns around quality. so i think we do need genuine reform alongside it might stop one more point. staff retention, the workforce, this is also a huge problem, isn't it? it is, what we found our report that nine out of ten councils identified the local child care workforce is a real barrier to expanding childcare provision. that's obviously something needs to be addressed, staff need better terms and conditions, they need better career progression, better pay, so we need to fix these systemic challenges we have, we need a workforce strategy that addresses the challenges so that addresses the challenges so that we can get the right people and hold onto them because they are doing such an importantjob in raising and educating the next generation. raising and educating the next generation-— raising and educating the next aeneration. ., ~ , ., , generation. ellen, thank you very much. the indian city of bengaluru, home to some of the biggest it companies in the country, is battling an acute water shortage after poor rainfall. ineffective water conservation has made matters worse — leading to reservoirs drying up. the bbc�*s arunoday mukharji reports on the current water crisis and how it is affecting the city's world renowned reputation as india's silicon valley. residents of rr nagar in bengaluru waiting for a basic need — water, something they should have had easy access to within their homes. now, both water and people's patience are running low. drinking water atms here are in high demand. for less than a dollar, people fill their cans, but it's a daily hassle. the glass of water first thing in the morning that so many people take for granted has become a struggle for people over here in some parts of bengaluru. as you can see, this is their daily morning routine — lining upjust to get their bottles filled. this is bengaluru's main source of water, the kaveri river, but it's failed to reach all corners of a rapidly growing city. made worse by poor rainfall, forcing sections of the city to rely completely on water tankers. this neighbourhood of 3,500 residents needs 50 tankers a day, but supply now is down to half. since they have to go far away and get the water, the cost has got escalated. it is around twice the cost that we are paying right now. despite authorities putting a $12 cap on prices for water tankers, in some parts of the city, people say they are charging double or even triple the amount. authorities say they are working on alternatives to tide over the crisis. we are also depending upon the treated water, which is the main source of water for other, non—drinking purposes. that water, we are planning to take to the commercial industry establishment, to that extent that we can reduce the kaveri water consumption by industry and commercial purposes. bengaluru is the fourth largest technology hub in the world after silicon valley, boston and london. but it's come at a price. the population boom swallowing up the city's many lakes, once also a crucial source of water. we're completely reliant on the kaveri water supply. we need to re—architect our imaginations of water solutions, and that needs to include rainwater, lake water, aquifer or ground water and treated waste water. this city of 1a million is only going to grow. and if its civic infrastructure fails to keep pace, instead of a free flow of water, the it city will be forced to count every last drop. arunoday mukharji, bbc news, bengaluru. in other news... unilever has announced it will cut about 7,500 jobs worldwide, as part of an extensive three—year cost—saving plan. the food and household goods giant said it would split off its ice cream business which includes the wall's, ben &jerry�*s and magnum brands. unilever said the shake—up would help it to "do fewer things better". the uk's electricity network needs almost a further £60 billion of upgrades, to hit government decarbonisation targets by 2035. that's according to a new plan from the national grid's electricity systems operator. some 4,000 miles of undersea cables and 1,000 miles of power lines, including pylons, are needed. its estimated the investment would add between £20 to £30 a year to customer bills. hello from the bbc sport centre. in the nba, the la lakers kept their slim chance of a playoff place alive after a dominant win over the atlanta hawks, helped by impressive performances from lebronjames and de'angelo russell. it was a bad night for atlanta, aside from some spectacular dunks from jalenjohnson, who finished the game with 25 points. james produced yet another standout performance for the lakers as the end of the regular season approaches. the 39—year—old scored 25 points and had ten assists and seven rebounds as the lakers won their 13th game of the last 20. however, on this occasion the accolades went to his team—mate russell. he finished with 27 points, which included six three pointers. the sixth saw him score his 183rd of the campaign, which drew him level with nick van exel with 12 games of the regular season remaining. it's just really cool. i don't want to understated, overdo it, just think it's really cool to just be a part of something like that. i think i did something like that in brooklyn as well. just to give credit for the game, what you're doing, showcasing everything, just to get credit for something like this, it's really cool. he is now

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