Key Dates for Your Diary 2020
The UK will leave the EU on the 31st of January at 11pm, marking the beginning of the Brexit transition period. The UK government will lose voting rights in Brussels and will be able to make trade deals with other countries during this period. EU law will also still be applicable in UK territory.
UK-EU TRADE TALKS BEGIN
After European ministers approve a new negotiating mandate for Michel Barnier, trade talks can start between the UK and the EU. They are expected to begin in early March.
NEW GOVERNOR OF THE BANK OF ENGLAND
Andrew Bailey will take over from Mark Carney as the new Governor of the Bank of England for an eight-year term. Bailey was the head of the Financial Conduct Authority and his extensive experience at the Bank of England means that he is seen by many as a ‘safe pair of hands’.
UK LOCAL ELECTIONS
The upcoming local elections will contest about 118 English local councils, eight directly elected mayors in England and forty police and crime commissioners in England and Wales. There will also be an election to the London Assembly in conjunction with the London mayoral election.
DEADLINE FOR EXTENDING BREXIT TRANSITION PERIOD
An EU-UK summit is expected to take place in June. Both sides will decide if they can finalise a trade deal by the end of the year. Boris Johnson has made it clear that the transition period won’t be extended. However, EU officials have already said that it’s likely an extension will be needed.
FIRST US PRESIDENTIAL DEBATE
The first of three presidential debates will take place in Indiana. President Trump is expected take to the stage alongside the Democratic candidate, which is sure to set the tone for the election build-up.
US PRESIDENTIAL ELECTION
On the 3rd of November, America will take to the booths to cast their votes. On top of the usual swing states such as Ohio and Florida, it’s thought that Arizona, Georgia Pennsylvania and Wisconsin could also prove to be key battlegrounds.
TRADE DEAL PRESENTED TO EUROPEAN PARLIAMENT
EU officials say that, if the trade deal is to be ratified by the end of 2020, it must be negotiated, checked, translated and presented to the European Parliament by the week of the 26th of November.
END OF THE BREXIT TRANSITION PERIOD
If the transition period isn’t extended, it will end on the 31st of December. Depending on how successful trade negotiations are, the threat of a no-deal Brexit could return. It’s thought that, even if a deal is agreed by the end of 2020, discussions will still need to take place beyond the deadline.
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Key Dates and Data Releases in 2020
UK Budget 2020: 11th March
Bank of England Monetary Policy Committee meetings: 30th Jan | 26th Mar | 7th May | 18th Jun | 6th Aug | 17th Sep | 5th Nov | 17th Dec
ECB Governing Council Monetary Policy meetings: 23rd Jan | 12th Mar | 30th Apr | 4th Jun | 16th Jul | 10th Sep | 29th Oct | 10th Dec
US Federal Open Market Committee meetings: 28th-29th Jan | 17th-18th Mar | 28th-29th April | 9th-10th Jun | 28th-29th Jul | 15th-16th Sep | 4th-5th Nov | 15th-16th Dec
UK quarterly inflation report: 30th Jan | 7th May | 6th Aug | 5th Nov
US non-farm payrolls: 10th Jan | 7th Feb | 6th Mar | 3rd April | 8th May | 5th Jun | 2nd Jul | 7th Aug | 4th Sep | 2nd Oct | 6th Nov | 4th Dec
Read more about the year ahead in our latest Quarterly Forecast.