Prime Minister Theresa May called on her party on Sunday to unite behind her plan to leave the European Union, making a direct appeal to critics by saying their desire for a free trade deal was at the heart of her Brexit proposals.
At the start of what is set to be one of the Conservative Party’s stormiest annual conferences, May’s plans were once again attacked by two former ministers, with her ex-foreign secretary, Boris Johnson, calling them “deranged”.
May also won strong backing from other Brexit supporting ministers, with trade minister Liam Fox and foreign minister Jeremy Hunt turning their anger against the EU, for “taunting Theresa May, one of the most unfailingly polite people”.
Just six months before Britain is due to leave the EU in the country’s biggest shift in foreign and trade policy in more than 40 years, the debate over how to leave the bloc is still raging in the centre-right Conservative Party, and even in government.
The European Central Bank (ECB) expects interest rates to stay at their current level through the summer of next year and the scaling back of economic stimulus measures to be gradual, board member Benoit Coeure told a German news outlet.
The comments are in line with the bank’s previous assertion that it is comfortable with market expectations for an interest rate rise in the final quarter of 2019.
“We expect interest rates to stay at the current level at least through the summer of 2019. But we have already started to reduce our net asset purchases and anticipate them ending after the end of December,” Coeure told the newspaper in an interview released on Sunday ahead of publication on Monday.
With inflation picking up, the ECB has been curbing stimulus for months and plans to end its 2.6 trillion euro bond purchase scheme in December.
But for all its resilience, Coeure said that trade disputes and declining support for the multilateral order make strengthening Europe an urgent task.
Responsible fiscal policies and economic reforms at national level, completion of the banking union and capital market union are needed, he said.
09.30 - GBP: Manufacturing PMI; Forecast at 52.6 against previous of 52.8
15.00 - USD: ISM Manufacturing PMI; Forecast at 60.1 against previous of 61.3