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Brexit: weekly news digest 2nd Nov

This week, the Brexit business media has been awash with speculation of deals, part deals, interest rate moves and the Autumn Budget.

 

Amidst rumours of agreements of UK financial services firms securing access to European markets, sterling rose against the dollar in the currency markets. Downing Street was quick to deny these rumours, but the sterling rate continued to hold steady and continues to strengthen with the Bank of England's discussions on interest rate forecasts.

But reports have continued to be pessimistic, with the manufacturing purchasing managers’ index (PMI) from Markit/CIPS showing a further slow down, dropping to the lowest levels in two years. 

There have been further calls from European business leaders for a swift negotiation resolution, as they recognise the damage that can be done to EU27 and UK businesses alike

The French authorities have made assurances around keeping fluidity around the Calais trading port to allay fears of hold ups to imports.

The UK Autumn Budget brought news of further funds being released for the Brexit process but the Chancellor admitting that, if no Brexit deal is reached, an emergency budget may need to be called

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