020 7898 0500On a day of little data or news sterling managed to gain against both the euro and the US dollar.
Today we will hear the views of the Bank of England’s Monetary Policy Committee on inflation and the economic outlook when MPC members will be speaking before the parliament’s Treasury Committee. Given the recent set of data, showing inflation and average earnings converge and retails sales still under pressure, it will be an interesting meeting.
For a few days it wasn’t so much politics that moved the pound but this week the markets will be focusing on Article-50-related updates again. The next step in the Brexit process is for the House of Lords to approve the proposed bill. It is unlikely that any changes will be pushed through at this late stage. So the next big moment will be when Article 50 is triggered, which looks likely to happen on 9th or 10th March, during the next major EU meeting.
