The pound was low against the dollar and the euro yesterday, but is stronger this morning ahead of the Bank of England’s monetary policy meeting. The Bank of England is expected to keep rates on hold, despite two members voting to cut rates last time. Inflation data came in flat yesterday and slightly above expectations. After slowing wage growth revealed earlier in the week and retail sales figures due to be released this morning, members will be left to ponder over whether their current stance is appropriate.
The government’s intention to enshrine the Brexit transition period deadline into law and several more amendments will be added to the Withdrawal Bill, which is due to be debated tomorrow. Other amendments include giving British judges new powers to overturn the rulings of the European Court of Justice.
The swearing in of MPs took place in the House of Commons yesterday, ahead of the Queen’s Speech, which is due to take place today.
