Requires focused policies, redoubling efforts and work and concerted efforts from all sides. Lets head over to our Asia Business hub and speak tojoao da silva. Its a crucial meeting, talk us through the headlines as this all gets underway. This is not m, but sweet cream to pop up, here years. Thank you forjoining us, its a crucial meeting, took us through the headlines as this gets under way on day one. What gets under way on day one. What is interesting gets under way on day one. What is interesting is gets under way on day one. What is interesting is how gets under way on day one. W ue ii is interesting is how similar those targets that were Just Announced our to those of last year and that despite the fact that the merger in the worlds second largest economy has changed. The government is expecting growth of around 5 in 2024 which is pretty much the same as forecast in 2023, it expects inflation of 3 , the deficit to stay also within its preferred 3 limit and the Unemployment Rate t
You expecting . I think there will be a rate rise and everyone you expecting . I think there will be a rate rise and everyone is a rate rise and everyone is expecting 0. 25 from the bank today. The challenge it has is that its looking at what inflation has already done and we know Interest Rate rises take quite a while to filter through. Rate rises take quite a while to filterthrough. Is rate rises take quite a while to filter through. Is any danger here that rates go too high and therefore strangle the economic recovery . There is always a risk when putting Interest Rates up, its a really hard job to do. To know that when youre putting your foot on the accelerator that is going to do the right thing because there are lots of lags in how long it takes. In general, you get the sense of the Bank Of England and the message, they are more concerned about doing nothing, they feel that they can dial back on that a little bit more than letting inflation continue to persist. Obviously, the ris
as the difficult post covid recovery continues to weigh on demand. so that s the picture on the factory floor when it comes to what consumers are facing when buying goods and services the consumer price index was unchanged year on year, compared with a slight gain in may, the slowest pace since february 2021. the us treasury secretary janet yellen has just left beijing following a four day visit in an attempt to bridge us china trade relations. she told reporters just before leaving china that despite significant disagreements, the relationship between both countries was moving towards a surer footing. my my purpose is to make sure that we do not engage in a series of unintended escalatory actions. that will be harmful to our overall economic relationship. with one another. and we have had very little contact, both senior officials and also just the american people and the chinese people, have had very little contact with one another over the last several years. in part