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