020 7898 0500With only second tier economic data released from the UK the focus was firmly on developments within the House of Lords. Peers responsible for scrutinising Theresa May’s Brexit bill rejected calls for another referendum by 336 votes to 131. Peers are however expected to back the case for a vote in both Houses of Parliament – Commons and Lords – on the terms of the UK’s exit deal. This was originally requested by former deputy prime minister Michael Heseltine. Further Brexit based uncertainty put the pound (GBP) under pressure. The news from Westminster also increased time pressure on the Prime Minister to meet her Article 50 deadline, set for the end of March.
Meanwhile, economic data confirmed that house prices increases have slowed to its lowest pace in three and a half years
Due at 13:30 todays is the UK’s annual budget which will be the big focus for the day.
