kuroda spoke at a meeting with boj branch managers on monday. he said he expects inflation to stay at roughly 0% for the time being. once the impact of last year's consumption tax hike is excluded. kuroda said low energy costs are putting downward pressure on overall prices. some boj board members expressed concern last month that consumer prices might fall slightly. kuroda said the boj will examine the risk factors that could cause economic activity and prices to fluctuate. he again insisted that the central bank is ready to carry out additional easing measures to end deflation. >>> new figures on producer prices suggest how difficult it is to stem deflation when the effects of last year's consumption tax hike are removed from the calculations. prices of goods traded among companies fell in march for a fifth consecutive month. the adjusted producer price index number shows a 2.1% drop compared to a year earlier. still, the boj officials say the pace of decline is slowing as the crude oil market shows signs of stabilizing. when the tax hike is i

after the policy meeting boj governor kuroda reiterated his firm belief that inflation target will be achieved. >> translator: i think the consumer price index will start to rise from this autumn, or later. >> kuroda added that if prices fail to move higher the boj would not hesitate to respond with policy adjustments. >>> let's check how market players reacted to the boj's decision. tokyo stocks closed at their highest level in 15 years, approaching the key 20,000 mark. the nikkei average closed up 0.76% at 19,789. investors bought shares an expectations of stronger corporate earnings. moving on to chinese markets the shanghai composite claimed 0.84% hitting another seven-year high. some investors sold shares to book profits after the index touched the key 4,000 level. in hong kong the hang seng index jumped 3.8% following upward momentum in shanghai was the biggest gain in more than three years. investment from mainland china reached the daily limit for the first time since the shanghai and hong kong trading link started last november. in other markets in the asia pacific region seo

mark: getting some live pictures where kuroda is speaking. the b.o.j. held rates today but has revised down gets g.d.p. and c.p.i. forecast. inflation won't hit its it% charget until the middle of the fiscal year 2016. there he is. we will keep an eye on that. pharma big day. sam is here to break it down. it was a beat wasn't it? >>> it was. mostly driven by fournette exchange. i think we are going to see that theme develop. the unsettling things is they have beaten on the b.p.s. line, but they have not raised full year guidance. that is when people said what is going on? either that beat in q 1 was something specific for the first quarter and we are going to see weakness the rest of the year or it was due to some non-operational issues. that is never a nice thing when you see a 1 q beat of this level and no change for the full year. another thing that was disconcerting to me was atlantis. it is bigger chunk of products. one problem is pricing pressure in the u.s. that is coming in line with analysts estimates. they have actually missed estimates. that

governor kuroda, if he disappointed anyone, it was those people who expected a little more stimulus. >> the market expected nothing to happen today. that's exactly what we got with the bank of japan maintaining that pace of bond buying. not adding to monetary stimulus especially not bond buying. the market suspects in june or july we may see a cut to the deposit rate, and that would be in the tool chest. he is asking the market for patients. even as he faces significant political pressure from the prime minister's government. this as inflation remains anemic. it has stalled. his view, as oil prices continue to trend slightly higher, that impact will have -- that will have an impact on inflation. earlier the japanese could spend more. now as oil prices come to level that will drive inflation higher. he suspects the inflation forecast to play out at the 2% level he has maintained for two years by april 2015. we do have the bank of japan revising its cpi forecast for this year. that caused the move in the yen. check it out. it is trading at the 118.88 level. this had an impact on the cu

governor kuroda says stimulus is having the desired effect and cpi will likely reach 2% around the end of the year. the nikkei closed up 0.75%. stocks soaring in hong kong today after trading has been closed since thursday. shares are up more than 3%. the shanghai composite closed up almost a percent. that equity market, doubling. our top story today, shell has agreed to buy bg group. the acquisition would make a monster energy company, the second biggest in the world, more than twice the size of bp. i spoke with shells ceo this morning. he told me the deal was always a matchin shell''s mind. >> we have been looking at bg for a long time. it was always a match that worked well in our minds. if you look at what integrated gas, energy could be, add to that the capabilities we have as a leader, this was always going to be a fantastic, nation. over the last month, the macro environment evolved to a point that not only was it a great logic but it also became a compelling value. together with the value that we see in combining the value that we see in the synergies, this became something tha

i would imagine kuroda and the boj would be pretty pleased that inflation expectations have remained broadly unchanged. if the markets can start to see this materializing as something that has got potential legs, expectations may be higher. what we should start to see is retail capital outflows from japan. over the last three months, we've seen investment trust companies in japan purchasing foreign equities on a three-month basis. it is the largest on record. that is going beyond the period of 2007. there is evidence that perhaps households are beginning to take on greater risk. that is a supportive story for dollar-yen to go higher. francine: thank you for all of that. derek help any. still to come, breaking the street. marks & spencer posts growth in nonfood sales after 40 quarters of declines. ♪ francine: welcome back. after more than three years of declining clothing sales, the turnaround for marks & spencer's. the stock is higher. here with more is caroline hyde. dig into the numbers for us. caroline: much better than had been expected. we were expecting things to stabilize wh

we have comments from haruhiko kuroda at the branch managers meeting the boj branch managers meeting and we will be watching the latest numbers that come in this week. as for the nikkei, it is back to business. utilities have been quite electric. look at that, 16% gains. insurers seeing a bit of downside. we will watch that closely in the tokyo market. utilities, one of the key themes across the asia-pacific. utilities falling today. power producers lower on the whole by 4%. rishaad: beijing may be facing an even bigger battle as they try to boost the chinese economy. exports in march unexpectedly tumbling more than estimated dropping 15%. let's get analysis. we are joined by tom from beijing. tom, what is going on here? this is way off what economists were calculating. we've got nearly 15%. tom: it is a big downside surprise rish. i think there's a couple factors at work. firstly, other currencies have been depreciating quite sharply. the korean won, the japanese yen, that means that chinese goods are looking relatively expensive. what we could be seeing is that starting to have a b

this week it would be good for kuroda to do more than the markets are expecting. let's move on to other data points because it is a busy week. moving to china and having a look at the latest gmi numbers. i think we can confirm the slowdown taking place. daniel: i think it is more than likely that they will. in the first quarter we obviously have some distortions from chinese new year, which was very late this year. it was quite hard to get a handle on the data. we have now had the pmi for april and that was weaker and then were expecting and it confirms the economy is not doing as well as we were expecting. that is still around where it was for the last six months so the economy is not picking up. it seems to be cooling. maybe not as bad as the dramatic headlines. also the bank of china has a lot to do to get the economy going and we expect them to do more in the coming months. that, aree have seen we likely to see interest rate cuts proper in the pipeline? daniel: one or two more interest rate cuts. they do not want to go back to what they did several years ago w

olivia: obviously shinzo abe worse it's a governor kuroda, doubled the money supply. tom: massive qe -- way more than ours. olivia: i would have thought the chart would have a steeper slope. tom: this is dollar yen and you can see the forever trend of stronger yen and the management. i have to go to standard deviations. there are some mixed opinions about whether mr. abe needs an ever weaker yen and a stronger dollar stronger korean won stronger everything. the litmus papers the tea leaves that you can see as mr. abe as a number of discussions. i saw one article today with the disk or disagreements over this trade. this is not a done deal. olivia: it is not a done deal but it is critical against guarding against chinese influence in the region, that we need to step in otherwise they will. t-mobile earnings just crossing, first quarter even, $1.39 billion. service revenue up 9%. i'm clicking into the full press release, but the general idea is that t-mobile is the only u.s. wireless carrier that is going to be actually adding wireless subscribers in the first quarter.

cheaper oil and a weaker recovery from the recession is challenging governor kuroda's attempts to reach the 2% inflation target. ed miliband is announcing that a labor government would abolish the non-domicile rule that allows some wealthy individuals to limit tax they pay. he says the scheme has been wide open to abuse. he said around 100,000 people use the non-dom rule, which is unique to the u.k. much more on the non-dom rule throughout the show. it will be the subject of our politics show. tune in for that a little bit later. our twitter question of the day is, is ending the non-dom rule a good idea for the u.k.? tweet us your answers. still to come, the journey to moscow. we will look at the motive behind the greek prime minister's visit to russia. ♪ guy: the greek prime minister is heading to moscow to meet with president putin. could the business threaten greece's relationship with brussels and berlin? let's bring in hans nichols. what the you think angela merkel of this trip? hans: she things it is a sideshow. that is according to three of her government officials. earlier, a

the date, professor feldstein is the idea of what any central bank should do taking as a whole dragi kuroda yelling and the others, when they become more prescriptive, what's the best way to get the rates up, get them there quickly or a measured manner? martin: getting them there quickly could be destabilizing and is important to get them with started with the process and start moving those rates gradually up. tom: i look at this. we could talk to him for four hours. olivia: we have martin feldstein in for a half-hour. start sooner and go gradual. tom: we'll hear about domestic policy as well and the debt. olivia: a lot going on in politics which brings us to our twitter question. what do you think, would hillary clinton be good for wall street. tweet us. tom: good morning, everyone. "surveillance" in new york city. we have martin feldstein. but first we look presidential with olivia stearns. olivia: hillary clinton is hitting the road after posting a video online announcing she's running and is headed to iowa where many say her 2008 bid for the nomination started to unravel. another republ