Where the from fig live to the minutes Tim welcome to you that's the kind of a gain the global story beginning to build and maybe in the UK's case getting there a little faster than we have on inflation but certainly we found unanimity on the wages piece which is not meeting or matching those gains for CPI. Yeah certainly Carson good good to be with you um look uh the the Bank of England certainly surprised the market last night as you said the the monetary policy committee had a vote it was five three in retaining rates as the current levels which was no great surprise the surprise was very much that three members decided to vote for an increase in rate which would have been the first time they had done this to since 2007. Now the main driver of that seems to be coming more from inflation than anywhere else certainly the numbers that were released earlier in the week indicated that May's numbers were showing 2.9 percent compared to April which was 2.7 percent and the and the driver of this again seems to be coming through the the weaker pound certainly areas such as computers laptops are pushing the the the cost of those goods higher from the fall in the currency certainly there are other other factors as well food is is is becoming more expensive on the import front as well as gas and electricity prices are going up as well so as you point out that certainly the economy is is soft overall they released some data on retail sales which is the the softest growth in four years so it's a it's a mixed message very much so. Now this isn't a time when from a fiscal response never mind the monetary piece you've got a push back on austerity a reason a big reason given for the slide and support for the conservatives in the rise of Jeremy Corbyn's labour recast movement now is there a sense here that the corporate balance that the sovereign balance sheet can be tapped at a moment like this to really build out the promises made rather than just having them remain as platitudes. Well it's it's a it's a dichotomy that's facing a number of countries at the moment the US Australia as well that there is this sort of pushback on austerity you know I think that the the the main monetary policy committees around the world will focus on their main on their main requirements and that's to promote employment and to keep inflation under control and that's that should be their focus and I think they'll adjust interest rates to accommodate that. Yeah well therefore bring it all home because we got that release this week for domestic jobs enthusiasm for RBA cuts is now right down to 10 percent what say you to Hikes even in 2018 what's the house view? Well at this stage we you know certainly the data was stronger than expected you know as we know jobs data inherently is very volatile on a month-to-month basis but certainly over the last three months those figures seem to be confirming that that there has been a solid improvement in in the jobs data so at this stage our view is that a rate cut is most likely off the table but that doesn't necessarily mean that there's going to be a rate rise any any time soon so I think 2017 we can put away 2018 we'll be dependent on whether the data continues to paint this the picture that it's currently doing at the moment. So appetite for corporate issuance in that kind of holding pattern environment how would you characterize it I'm just looking even out at the 10-year UST rising three points but sitting still around 2.16 so it's pretty accommodative. No it is and Australian rates 10-year bonds are still around that 2.4 2.41 level so the the spread between the Aussie 10 years and the US 10 years is still holding around that 25 points not quite as low as it got to earlier earlier in the week but I think we've got to keep in mind that these levels even in the 20s are at historical lows we just haven't seen these levels for any length of time for many many years and at this stage it the risk is that they could go lower. Wow Tim check in with you next week thanks so much. Pleasure thank you. Tim luck with it from Fig Their Life we'll