Yesterday Andrew Sentence, a former senior Bank of England policymaker, warned Britain’s economy is trapped in “no-man’s land” by Brexit and the next decade could be the weakest for growth since the second world war. The former monetary policy committee (MPC) member said: “The UK economy will be limping on for a while, until Brexit negotiations are fully resolved. I can see the UK being in this limbo-land for quite a while – certainly until the late 2020s.”
The postponement of Brexit until the end of October has hindered the Pound becoming a structural feature of the UK economy. With the prospect of complex and protracted negotiations dragging on growth for years to come. The UK posted record monthly goods trade deficits in both January and February as business rushed to buy raw materials, components and merchandise from overseas before the previous Brexit deadline.
15:00 – USD: CB consumer confidence is forecast to increase to 126.2