Currencies

UK GDP growth report to show economy slowing ahead of Brexit – business live | Business – Business Article

4.30am EST 04:30 UK GDP report released Newsflash: The UK economy suffered a sharp slowdown in the last quarter of 2018, only expanding by 0.2%. That’s down from 0.6% in the third quarter. More to follow… 4.25am EST 04:25 There’s just time for a reminder of GDP’s weaknesses, with this brilliant speech by Robert Kennedy more than 50 years ago: 4.16am EST 04:16 Household incomes takes £1,500 hit since EU referendum Resolution, the thinktank, has a grim statistic — UK…

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Financial markets seem lost in the fog of Brexit | Nils Pratley | Business – Business Article

Mark Carney could just as easily have shrugged his shoulders and declared that, like the rest of us, he hasn’t a clue how Brexit will work out. Instead, the Bank of England governor, obliged to riff on a theme when unveiling new economic forecasts, opted for “the fog of Brexit”, which amounted to much the same thing. Sadly, he couldn’t say when visibility will improve. Financial markets, too, seem baffled. The headline news that the Bank was making deep cuts…

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Bank of England sets interest rates as Brexit looms and house prices slide – business live | Business – Business Article

“With Brexit negotiations still in deadlock, it is unsurprising that the property market continues to stagnate, with just 0.8% annual house price growth, and a monthly fall of -2.9%. Little progress was made in January, and Reapit’s data shows that a lack of clarity has caused buyers and sellers to abstain from engaging the market. Exchanges are now down by 16% across Greater London, with 27% fewer new listings in December 2018 compared to the same period in 2017. “However,…

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UK consumers shun credit cards as Brexit looms – business live | Business – Business Article

French riot police clash with Yellow Vests protesters at the Place de la Bastille Photograph: Alfred Photos/SIPA/REX/Shutterstock Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. With gloom gathering over Europe, France has given the eurozone a much-needed boost by beating growth forecasts for the last quarter. French GDP expanded by 0.3% during October-December, new figures show, crushing fears that growth could have fallen to just 0.1%. That matches France’s…

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Pound falls after Commons vote spurs no-deal Brexit fears | Business – Business Article

The pound fell sharply on the foreign exchanges after MPs failed to seize control of the Brexit negotiations from Theresa May in order to rule out a no-deal departure from the EU. Sterling dropped by more than a cent against the US dollar to its lowest point of the day after a series of votes in the House of Commons were seen as increasing the prospect of Britain leaving without an agreement on 29 March. The pound has been rising…

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