The pound ended yesterday on a choppy note, as Parliament rejected the government’s motion for a 12th December general election, gathering just 299 votes in favour. One could well still be forthcoming, however, with the SNP and Lib Dems calling for 9th December. The Prime Minister has also said that he will try for a fourth time to secure an early election – this time through publishing a bill that will only need a simple majority to succeed, rather than the two thirds required previously. A bill is expected to be tabled today to allow this to happen.
It was a quiet day for economic releases, but CBI distributive trade balance rose for the third month running, although still in the negative and beating market expectations of a drop. Nonetheless, sales are still poor for this time of year.
Today, we will see housing price figures, mortgage approvals and consumer credit, and it will be interesting to see how the proximity to the now-delayed Brexit deadline has impacted them.
