 Mark Bailey in on this one. He's joining us from big securities top of the morning to you. Good to see you mark So G20 lots of statements no broad commitment to any sort of a figure when it comes to global growth I guess we didn't expect anything much coming from it. How did how did you read it? Yeah? Good morning Nadine exactly? I mean again the G20 lots of talk lots of hot air very little action You know it's time and time again In terms of you know any you know definitive formal plans You know they talk about the fact that you know They can't you continue to use monetary stimulus to try to drive Global growth forward and need to use fiscal stimulus as well But you know we've seen in terms of the the rating actions in the UK and also to a lesser extent in Australia that government balance sheets are pretty constrained in terms of what they can do And it's all very well talking about trade But you know there's also various talks about you know various economies becoming more protectionist in terms of trade agreements as well So you know that global trade and the free movement of goods and services is probably becoming more restricted And that's in terms of you know what the politics around the world is becoming as well kind of more shifting towards that right wing That we've seen you know in the UK and in elsewhere in Europe and you know potentially in the States You know with obviously the Significant success of Trump who's secured the Republican nominee and you know who knows could could well be the the next president of the United States Is as dreadful as it is to think about that possibility? But again, you know, it's a very difficult situation that the governments around the globe They've got the backs against the walls in terms of what they can do what they can stimulate using their own balance sheets and Monetary policy as we have seen in most places around the world is kind of reaching its limits of its efficiency as well in terms of the low interest rates and you know in terms of the the QE that is is going on to central banks balance sheets as well So do you think that the G20 should do itself a favor and start making some changes in this? You know more protectionist environment should the G20 Just start I guess being its own best sales person and also start pointing out to some examples of this Anti-austerity, you know you can take Canada for example in that regard Yeah, I mean in terms of you know what they do in terms of the rhetoric It's very difficult to try to agree on certain things. So it's a lot of it's a rehash of the previous Communique that comes out and there's no real new Ideas and stimulus because if it was such a great idea probably would have been tried before and it's very difficult to get that Agreement amongst those G20 nations when you know, everyone has kind of a slightly different Plan a slightly different idea of how to go forward in terms of you know, how you stimulate the economy It's it's pretty difficult and I think you know, I think one of the major Points of view should be that you're trying to increase infrastructure spend and yes If that does impact your credit rating as a government then so be it But it's that productive Infrastructure productive government spending that we we would like to see and it's probably gonna be most most beneficial to global trade and global Economies growth economic growth is that is a way forward? You know you talk about the helicopter money and that's been widely speculated in Japan And obviously with the Bank of Japan meeting on Friday, you know We'll get some idea whether that's gonna happen even though You know the the BOJ group governor Corota has said said look it's not gonna happen We don't think that's gonna happen But you know the market is certainly expecting additional stimulus whether that's through additional buying of equities through ETFs Cuts in interest rates or further government bond buying You know the market is certainly expecting the BOG government to deliver on some extent and that's gonna be a really interesting meeting A really pivotal way to kind of end the week and you know He has disappointed and surprised the market on a positive side as well So you know we it's very difficult to get a read on him. Yeah, it's an interesting one We'll be talking about it all week now when it comes to a Christine Lagarde and Chief of the IMF she obviously at the G20 was talking up trade liberalization being key to bolster productivity and global growth We heard from the German Finance Minister in relation to Brexit saying that You know it wasn't up to the rest of the world to really cushion the blow of Brexit What was Lagarde saying on that front? Yeah, I mean she's just kind of adding again her thoughts and views Which is probably pretty widely held in the financial community that's you know Brexit did lead to and has led to political uncertainty and financial mark markets volatility You know no real change there and I think it was interesting you comments early in terms of the German finance minister saying look it's it's not up to governments to bail out banks I think that's probably a rather kind of you know probably slightly veiled comments in terms of what's happening in Italy there In terms of what is actually going to happen in terms of the bail out there The 40 billion needs to be injected where that will actually come through taxpayer funds Prior to any bail in or bail out of of creditors or whether that will come in After and if it comes it after then you know then that's a new president in terms of how that's a bail in will take place If it comes in before then obviously that protects a lot of creditors Which is in in the Italy situation a lot of retail mom-and-pop investors would be kind of under the caution would actually Take some fairly hefty right down So I think that's probably a veiled threat in terms of what's going on in Italy at the moment and again That's another kind of touch point to watch going forward in the next few weeks. Absolutely now locally What it what's across your desk this morning mark? I mean, what are you really working on? I in terms of local? It's it's all focused on on Wednesday CBI, you know 0.4 across the the headline the the trims and the weighted You know anything significantly below that and that probably does allow the the RBA to to move next month Anything around targets, you know, it's going to be a line ball call as to whether they move I think my good feel is probably we do stay pats in next week's Meeting in terms of you know whether or not they continue to push that slam It's without a doubt. It's an easing bias and we'll probably get a move at least one Before the end of the year and maybe one additional one next year So kind of round about the one to one point two five percent for the terminal RBA cash Right, I think at the moment is looking likely whether it moves or not at the next meeting. Okay, Mark Bailey Thanks so much for joining us appreciate it. Thanks indeed. Have a good one you too mark Bailey there from fig will pick