CCTV Script 07/09/15


– This is the script of CNBC's news report for China's CCTV on September 7, Monday.

Welcome to CNBC Business Daily, I'm Qian Chen.

Let's get back to the state of play in the U.S.

Monday is a holiday...Labor Day.

But there's no rest when it comes to talk about the Federal Reserve...

And whether THESE numbers will provide the fuel for lift-off on interest rates for the first time in nearly a decade.

The jobless rate...5.1%...the lowest since April 2008.

Non-farm payrolls for August...sitting at 173,000

...but that's expected to get a sharp upward revision.

Now keep in mind...Federal Reserve Chair Janet Yellen has said any decision on interest rates will be "data dependent."

And the governors said they could approve a hike if they saw "some further improvement in the labor market."

Of course, everybody and their dog has a read on how it will go down.

The head of the International Monetary Fund -- Christine Lagarde -- says whatever the Fed decides, it needs to stick to the plan.

[IMF CHIEF CHRISTINE LAGARDE] "We have taken the view in the article four on the United States that because it is such an important move, not by virtue of it's size so much but simply because the FED has had not raised interest rates in such a long time that it should really do it for good, if I may say, in other words not give it a try and then have to come back."

Have they seen it?

Yellen's guided the central bank since January 2014.

And here's how things have changed.

Payrolls -- from 113,000 to 173,000.

Unemployment -- from 6.6 percent to 5.1 percent.

And core inflation...which excludes food and energy...from 1.6 percent to 1.2 percent -- that's the July figure.

Still below the Fed's target of 2 percent.

[CALLUM HENDERSON] "104514 overall, in terms of jackson hole and the fed comments before that theyve definitely put the risk of a rate hike in september back on the table."


[DAVID BAHNSEN 0903 CIO of HighTower Bahnsen Group] "102124 we dont believe it will happen this year. we think if it does happen, whether its september or december, its probably a very token 25 basis point hike. we would see it happening in the early 2016. //"


[MITUL KOTECHA] "the fed itself is pretty split. i think its going to be a very close decision. again, we dont beleive they are going to hike this month 105018"


[HUGH JOHNSON 0902] "101837 i dont think september is in the cards. maybe october or december is probably a possibility. but we run into all sorts of problems when you look at december. i'll put it at october right now 101850"

Surely...plenty can happen between now and then.

Here are some calls that have been made by different financial institutions...

September camp -

at full employment

no gains from waiting

US economic strength

December camp -

inflation still soft

market volatility

global economic weakness

But this is THE event to watch this month...this year, really.

We'll find out what Yellen and the gang decided...early on the 18th -- Asia time.

CNBC's Qian Chen, reporting from Singapore.


[French Economy Minister Emmanuel Macron] "When you look at the situation for Syrians, Eritreans and so on, you have a lot of very well trained people, very qualified people so that's also an opportunity. That's exactly what Chancellor Merkel understood by accepting all these refugees. 800,000 refugees probably this year for Germany but you have a lot of doctors you have a lot of orphan joiners. That's an opportunity if you are in a situation to integrate them."



[Pierre Moscovici, EU Commissioner for Economic and Financial Affairs, Taxation and Customs] "We are facing a drama of huge importance, unprecedented. There is a huge wave of emotion and solidarity. It doesn't mean that we must welcome everybody in any kind of situation but for those who are flying away from disasters of from massacres, we must be capable of giving a European answer and a European answer is neither nationalistic, neither xenophobic, the answer is not closing the borders. The answer must be European, we must be capable of welcoming those who need it and we must do that in a shared way and equitable way."

SS: But we only to have look at this country ourselves, look at the 2 million Syrian refugees who've come through into Turkey to see the scale of the migrant flows that could come into Europe if indeed those borders remain open.

PM: We must be ready to do that. We must be also ready to distinguish between the causes of that immigration. But of course we need to be standing on our principle, on our values. Europe was built among, around the idea of human rights, human dignity and we must act as people who are humanists.

SS: Where in Europe are you disappointed? Are you disappointed with the British response, the Hungarian response?

PM: We need to be on the European response, and in Europe there are also Hungarians and British. But I know that, for example, I saw that Mr Cameron is now aware that he needs to move.

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