Sterling falls amid rate cut speculation
- Fears of an escalation in the US – Iran conflict were low.
- Ursula von der Leyen: ‘trade deal by the end of 2020 is virtually impossible’.
- Timetable to agree a deal labelled ‘short and extremely challenging’.
- If a deal isn’t agreed, UK would revert to WTO terms.
- BOE Policymakers signalled that they are leaning towards a rate cut.
- 60% chance of a 25 basis point cut.
Economic data for this week
- Mon - Manufacturing and industrial production.
- Wed – Inflation.
- Fri – Retail sales.
- Tue - Inflation data Tuesday.
- Thu – Retail sales.
- Fri - Michigan Consumer Sentiment Index.
- Thu - ECB President Lagarde speaking.
- Fri - Inflation data.