The uncertainty of Brexit is starting to feed into UK indicators. The CBI optimism in the UK fell to the lowest level since 2009 and recent economic data from the UK leans towards a recession in the latter half of 2016. This feedback will heap further pressure on the Bank of England to act in the near term to counter the ‘Brexit effect’.
The Bank of England will be paying very close attention to ongoing data releases to see if the soft forward looking indicators translate into hard data that reflects …

The pound has finally found some relief after a sustained bout of post Brexit selling pressure. The confirmation that Conservative MP Theresa May will replace David Cameron as Prime Minister has helped to steady the ship.
The focus is also shifting to the Bank of England (BoE) decision on Thursday with some expectation that the Bank could cut interest rates following the Brexit vote. Although a cut is a possibility, it is more likely that the Bank will hold fire to collect another month of data and also assess the inflation …