Sterling’s is still weak after taking a dramatic fall against both the dollar and the euro over the weekend. The fall followed a week of record lows for the pound, the latest was this morning’s 51-year low triggered by news of the chancellor’s mini-midget. Financial markets are concerned that the chancellor’s tax cuts will require additional borrowing at higher rates.
As well as a speech from the BoE, there are a number of UK data releases markets will be watching today including BoE consumer credit, mortgage lending and mortgage approvals.
