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Bloomberg Daybreak: Europe Edition
BOJ Holds Rates, Inheritance Tax Warning & Understanding Kamala Harris
Sep 20, 2024
Rachel Reeves, the UK Chancellor of the Exchequer, discusses her plans for a challenging budget amid rising wealth taxes and vital support for small businesses. She highlights the Bank of England's £4 billion lifeline to ease spending pressures. The podcast also covers the Bank of Japan's decision to maintain interest rates, the European political landscape with proposed government changes in France, and Kamala Harris’s presidential aspirations, analyzing how her past will impact her policies and public reception.
17:23
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Quick takeaways
- The Bank of Japan's decision to hold interest rates steady reflects a cautious yet optimistic outlook on future economic stability.
- Concerns over potential inheritance tax increases are growing among UK family businesses, posing risks to their sustainability amid declining consumer confidence.
Deep dives
Bank of Japan's Interest Rate Decision
The Bank of Japan has decided to maintain its key interest rate, indicating no immediate need for further hikes despite some optimism about the economy. Economists anticipate that the central bank may initiate rate increases by December, especially after recent global monetary policy shifts. The BOJ acknowledged its rising inflation expectations and consumer spending assessments, pointing toward a future where rate hikes could be considered. However, the central bank remains cautious, particularly concerning the impact of currency fluctuations and financial markets on the economy, which may influence its decisions moving forward.
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