Central Bank, UK, Tom Mckenzie discussed on Bloomberg Daybreak Europe

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30 a.m. in London I'm Tom McKenzie But I've Caroline hepco will welcome to put it back day breakup In a moment we're going to hear from one of the conservative MPs who rebelled against the government this week in terms of passing the legislation around additional COVID measures She talked a lot about competence the issue of competence with the prime minister clearly pointed to Boris Johnson that in a moment As we continue to see this overcrowd wave hit the UK of course it's Central Bank super Thursday What is the Bank of England going to do with that information Currently the 7 day moving average of cases is about 58,000 in Britain Right now those stocks in Asia mostly are after the Wall Street rally after the FMC quite surprising in some ways that there was such a rally for U.S. stocks but it looks as if markets are confident that the fed could have or this mythic soft landing futures at the moment are S&P 500 even if above the 4700 40 4716 so up by three tenths of 1% U.S. stocks 50 feeds is also up by currently 1.7% extremely strong view of what is going to happen at the open here The dollar at the moment is flat to slightly higher U.S. yields again fairly flat as what it was about four 5 6 So there's the markets Okay now into some of today's top stories and England's chief medical officer is warning that the UK faces an inevitable surge in hospital admissions from that omicron variant His Bloomberg's Charles capel with more The warning came after the UK reported that the most new coronavirus cases since the pandemic began Some 78,000 new cases were reported at a press conference after the data was released Chris whitty the chief medical officer for England said substantial numbers of people will be hospitalized adding that it is moving at a phenomenal pace which he called for caution over early data from South Africa that suggested it may cause less severe illness than previous variants saying that the amount of immunity in the country may account for the difference in London Charles capable day for Europe And of course that cool for Chris witty to cut back on Christmas socializing is worrying hospitality businesses trade body UK hospitality forecasts that public restaurant earnings will be down as much as 40% for December due to cancellations That's led to fresh calls for government support for groups like the CBI the federation of British industry who argue that the plan B measures are instilling a lockdown mentality Okay let's turn to Central Bank news then and start with the Federal Reserve taking as Carolina was saying one of the most hawkish pivots this year Bloomberg's Vinny del duodo reports With U.S. inflation raging fed officials favor lifting interest rates at a faster pace next year three times The Central Bank is also doubling down on tapering its bond purchases that help keep it lit on interest rates Fed chair Jerome pal tells reporters price increases have been larger and longer lasting than anticipated Pal also rejected the idea that he held off on a hawkish tilt until The White House tapped him for a second term Vinny del judice Bloomberg they break Europe And now that we've heard from the fed it's time for Central Bank super Thursday First up the Bank of England with the decision on a knife edge for a second meeting in a row Bloomberg economics says that while data make the case for a rate hike uncertainty about points to a hold and then it's the ECB's turd with the Central Bank expected to announce the end of the pep program and the expansion of the asset purchase program for Europe Well let's move on now away from the Central Bank decisions and talk about the UK has Boris Johnson lost his authority over the Conservative Party after facing a major rebellion over new COVID restrictions That is the big question Why don't people who voted against the new curbs was admirably Morris whose conservative MP for Newton abbot endeavored you and parts that I spoke to Morris on Bluebird Westminster where she told us it is all about competency when it comes to the prime minister We asked her whether she thought that the number of MPs who were expressing that dissatisfaction with number ten has been Whether a lot of her colleagues agree with her in terms of what's happened with no ten That's a very interesting question And I think it must be true that the value of the case in some decisions on both sides But I think the reason people voted the way they did were quite varies And I think therefore you're right to race the .1 I think there was a large chunk that were very concerned about the proposals themselves Not just because of what those did but because of the direction of travel that you'd set I mean I have this old out but we are going to find further restrictions It may well be that it will be by guidance by legislation particularly given last night boat but more restrictions I'm sure there will be Okay so you do think that is there a leadership challenge then for Johnson come the new year I think with regard to leadership challenges we grew about competence isn't that ultimately that's what makes or breaks a prime minister and is tenure And I think at the moment there will be questions with those other questions around competence And that's partly about how the plan is addressing some big policy issues But it's also I think about an inevitably I have to say in those party data and various other issues out there Because it seems to me that a prime minister has to be competent in the way he doesn't a country competent in developing and delivering policies but they also have to be competent in dealing with good and bad news and they also have to be competent in that when they say a direction of travel when they set legislation They comply with it Okay Anne Marie do you think that the prime minister is competent I think that that question is very much in the multi part right now I do have some concerns about the way this COVID matter is being addressed and you can see that from what I've said and the way that I've voted And I think for me we're going to have to look at I'm going to have to look at Where is he going with this COVID Do I feel managing this competently and responsibly for the public But I'm also going to be looking at some of the other big policy areas whether it's environmental policy whether it's planning policy where housing policy all of which have very significant impact for all of us and my constituents How many of your colleagues agree with you on that competence question I think most would agree that what is really all about I mean I'm sure that you're going to be suggesting that there will be some who are looking at it through the in terms of their survival the chances of them being reelected common elections And clearly they will be some that think about it in those terms But I think for those particularly those who have been here for a long time it is about competence So that was our Marie Morris that conservative MP for Newton Abbott endeavored openly critical questioning of the prime minister This is a swift turnaround for just a couple of years ago when he won That landslide election victory will have much more British politics today on Bloomberg Westminster including actually British polling What does the public think currently cantos publics CEO Craig Watkins will be joining me at 12 nude catch that live today or download the podcast late on Apple music or your preferred radio app Right let's get over to provoke and Garret with the latest and worldviews for more day Caroline good morning and thank you Germany is rationing COVID-19 vaccines through the rest of the year made a surprise shortage.

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