00:00Before we get to today's boring markets, China has unveiled a plan to pay people to
00:06have babies to do something about the declining birth rate.
00:10Families who have a child will be given 3,600 yuan or $756 per year per child until they're
00:18three years old.
00:19Un-means-tested, so it goes to everyone.
00:22In 1979, they introduced the one-child policy and enforced that with fines and abortions.
00:28It was a demographic disaster.
00:30It became a two-child policy in 2015 and then three, but still the birth rate declined because
00:36marriages are in even steeper decline.
00:39Now in desperation, it's cash for kids.
00:43On the share market, it was all changed today.
00:45Yesterday banks went up, today they went down.
00:48And yesterday miners went down, today they went up.
00:52European markets fell in the wake of the EU's trade deal with America, criticised by both
00:56France and Germany last night.
00:58The German Chancellor said it would cause considerable damage to Germany, Europe and the United
01:02States.
01:03Nevertheless, the US dollar has lifted in response, which means the Australian dollar went down.
01:08Not helped by another fall in the iron ore price and a big drop in the price of coke and
01:12coal.
01:13But the oil price jumped 2%, apparently because Mr Trump is getting cross with Mr Putin and
01:18has given him 12 days to reach a truce with Ukraine or else there will be more sanctions.
01:23Finally, the ABS today revealed job mobility data for the year to February.
01:28It has kept declining.
01:30Only 7.7% of workers change jobs in the year.
01:34With house prices where they are, people just don't want to take risks.
01:37But also, there aren't that many jobs.
01:40The number of job vacancies has fallen sharply since the pandemic.
01:45And that's finance.
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