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The Bank of Japan holds off on expanding its massive stimulus | :00:18. | :00:22. | |
as the world's 3rd largest economy skirts another recession. | :00:23. | :00:27. | |
India throws big money at Africa as Prime Minister Narenda Modi says | :00:28. | :00:32. | |
his country and Africa are the "two bright spots of hope in the | :00:33. | :00:35. | |
The Bank of Japan held off on expanding | :00:36. | :00:55. | |
The bet is probably that prices will keep rising once the impact | :00:56. | :01:02. | |
But with its 2% inflation target still distant, a nasty slowdown | :01:03. | :01:12. | |
could yet force the Bank of Japan to take more extreme measures. | :01:13. | :01:15. | |
Let's get more from the man who knows. | :01:16. | :01:19. | |
Rupert Wingfield-Hayes joins me now from Tokyo. | :01:20. | :01:25. | |
Good to see you. We can start with this. There are not many tools left | :01:26. | :01:36. | |
in the box for the central bank to use to stimulate the economy. It is | :01:37. | :01:41. | |
skirting and other recession. What are they waiting for? I am not sure. | :01:42. | :01:48. | |
We will have two C in about half-an-hour. There are already | :01:49. | :01:54. | |
massively pumping money into the economy, to the tune of about $60 | :01:55. | :02:03. | |
billion a month. There is a feeling that increasing its father will not | :02:04. | :02:08. | |
do much more good. The marginal utility of further stimulus will not | :02:09. | :02:16. | |
produce much more facts. That is why they have decided to stick at the | :02:17. | :02:21. | |
current level. What we might hear is that he is trying to push back that | :02:22. | :02:31. | |
inflation target to 2017. And a debate about the central bankers at | :02:32. | :02:38. | |
the moment. And the role in apparently trying to fix everything. | :02:39. | :02:44. | |
Will China's slowdown continued to hamper the Japanese economy? I think | :02:45. | :02:52. | |
he will point to China and point to falling oil prices as being the | :02:53. | :02:57. | |
reasons why inflation is not picking up despite the massive amount of | :02:58. | :03:02. | |
money being pumped into the economy. There are more and more dissenting | :03:03. | :03:06. | |
voices about economics and the economic policy being pursued by the | :03:07. | :03:14. | |
government. A lot are saying it is not working. The reason being, the | :03:15. | :03:24. | |
only one that has been implemented is making more money. The difficult | :03:25. | :03:30. | |
stuff, the economic reform needed to get Japan's economy moving and | :03:31. | :03:35. | |
changing just has not been done at all. Great stuff as always. Thank | :03:36. | :03:40. | |
you for that update. Beijing has finally abolished the | :03:41. | :03:48. | |
one child policy. Meanwhile shares | :03:49. | :03:53. | |
of baby products have risen sharply after China announced the end | :03:54. | :03:55. | |
of its one child policy. So much so that products | :03:56. | :03:57. | |
like baby formula sales are expected Rico Hizon is | :03:58. | :04:00. | |
in Singapore to explain more. It is good to see you. Perhaps no | :04:01. | :04:10. | |
surprises. Beijing says, you are allowed to have two children. Baby | :04:11. | :04:15. | |
formula sales expected to double in the next five years. Absolutely. | :04:16. | :04:23. | |
These baby product manufacturers are very excited about this news from | :04:24. | :04:30. | |
China. That is why shares have risen sharply. There is a huge potential. | :04:31. | :04:37. | |
China makes up almost half of the global imports of milk powder with a | :04:38. | :04:51. | |
market of $90 billion. But it will take several months before the new | :04:52. | :04:55. | |
initiative that affects demand. We will not see a significant increase | :04:56. | :05:01. | |
in the numbers until the second quarter of next year. Global prices | :05:02. | :05:09. | |
are already rebounding. The price of milk has slumped in part because of | :05:10. | :05:25. | |
a slowdown in Chinese imports. China will start producing. Thank you very | :05:26. | :05:27. | |
much. This week many African leaders | :05:28. | :05:28. | |
travelled to India for the When it comes to investment | :05:29. | :05:31. | |
and doing business in Africa, India is behind its rival China, but with | :05:32. | :05:34. | |
the world's second-largest economy showing signs of slowing, India | :05:35. | :05:44. | |
thinks it can up its game in Africa. From New Delhi, | :05:45. | :05:47. | |
the BBC's Shilpa Kannon reports. A big, noisy and colourful welcome. | :05:48. | :06:01. | |
This is the biggest diplomatic event in the has ever hosted. There is | :06:02. | :06:07. | |
reason for the fuss. Annual trade between India and Africa has gone up | :06:08. | :06:12. | |
from $3 billion in 2000 to about $70 billion today. But India's Africa | :06:13. | :06:25. | |
ties my -- are far behind China. So they hope to engage Africa even | :06:26. | :06:30. | |
more. It is wooing Africa for the same reasons as its Asian rival. As | :06:31. | :06:36. | |
India's economy takes off, it is financial resources will steadily | :06:37. | :06:42. | |
mount. Many see China's slowing growth as an opportunity for India | :06:43. | :06:47. | |
to narrow the gap. Already India is buying oil from Nigeria, Algeria, | :06:48. | :06:53. | |
Mozambique and Angola. But India's and these will only grow. What India | :06:54. | :06:59. | |
offers to Africa in return our services like education and | :07:00. | :07:03. | |
healthcare. Thousands of Africans go to India every year for medical | :07:04. | :07:07. | |
procedures that cannot be done locally with Indian hospitals quick | :07:08. | :07:13. | |
to tap into the market. New Delhi has already extended billions of | :07:14. | :07:15. | |
dollars of credit to various countries across the continent to | :07:16. | :07:20. | |
help the cause. India is keen to further it ambitions to replace | :07:21. | :07:23. | |
China in the continent. Inflation data for the whole euro | :07:24. | :07:27. | |
zone is due this Friday, with analysts polled by Reuters | :07:28. | :07:29. | |
expecting that it'll show consumer Should we be worried or will more QE | :07:30. | :07:32. | |
from the European Central Bank help Sarah Hewin, the Europe Chief | :07:33. | :07:42. | |
Economist at Standard Chartered. Perhaps no surprises here. This | :07:43. | :08:02. | |
seems to be a bit of a theme. The stuff we all love to buy and need to | :08:03. | :08:06. | |
buy has been doing this for a long time. That is right. But the fact is | :08:07. | :08:13. | |
what is happening to oil prices. We are paying less for our energy than | :08:14. | :08:20. | |
we were. That is a huge impact. If we strip that out, if we strip out | :08:21. | :08:24. | |
the volatile things like energy and food, there is some inflation in the | :08:25. | :08:28. | |
economy, but it is still not very high. Can I ask you this? The | :08:29. | :08:36. | |
European Central bank has been pumping a lot of money into the | :08:37. | :08:39. | |
economy. It has been doing 60 billion euros per month. That money | :08:40. | :08:46. | |
is supposed to get into the broader economy. So people end up with it in | :08:47. | :08:53. | |
their pockets. That should start to lift the prices, inflation. That is | :08:54. | :08:59. | |
not happening. What is going on? Some of it is going into raising | :09:00. | :09:04. | |
asset prices. So we can see the costs of houses, stock markets, | :09:05. | :09:10. | |
picking up since quantitative easing is starting with. House prices are | :09:11. | :09:25. | |
going up. There is a broader impact. If you kickstart the global | :09:26. | :09:32. | |
economy, that will raise incomes and earnings. That will lead to higher | :09:33. | :09:43. | |
prices. That is the aim. Do you think that if we continue seeing | :09:44. | :09:49. | |
this inflation that Mario Gotze well do more? -- Draghi. We think he will | :09:50. | :10:00. | |
do more. More quantitative easing from December. Great stuff as | :10:01. | :10:08. | |
always. A lot going on, follow me on Twitter and you can get me. So the | :10:09. | :10:22. | |
markets up. Hong Kong is slightly down. All eyes will continue to be | :10:23. | :10:32. | |
on America's central bank. And we had rather disappointing growth | :10:33. | :10:37. | |
numbers from the US. 1.5% growth for the last three months. The world's | :10:38. | :10:44. | |
largest economy is having a bit of a hiccup. I will be back to take a | :10:45. | :10:50. | |
look at the newspapers from around the world shortly. Goodbye. | :10:51. | :11:01. | |
The UK's readiness to help thousands of refugees from Syria is being | :11:02. | :11:04. | |
The Home Affairs select committee says the Government's commitment | :11:05. | :11:08. | |
means that around four-thousand Syrians would | :11:09. | :11:10. |