020 7898 0500Friday was a very quiet day in the UK for political and economic data, but after the week’s events, this wasn’t altogether unwelcome. On Wednesday the government managed to defeat the ‘meaningful vote’ amendment which helped support sterling as it helped remove some uncertainty from the Brexit proceedings. However, it still remains to be seen whether a deal between the UK and EU can be agreed.
On Thursday, the BoE kept rates on hold, but the 6-3 split was a surprise. This increase expectations of a rate hike in August and sterling managed to climb back from the seven-month low against the dollar it hit in the run-up the announcement.
Today is extremely quiet, but this week we will see consumer confidence for June and the final reading of the GDP growth rate for the first quarter of 2018.
