The two Conservative leadership candidates have made further promises ahead of voting for the new Prime Minister. Boris Johnson has pledged to recruit 20,000 police officers over two years if he becomes Prime Minister, whilst Jeremy Hunt has promised a free vote to lift the ban on fox hunting. Ballot papers will be sent to Conservative Party members on Saturday.
Sterling’s week went from bad to worse yesterday due to poor economic releases. Services PMI came in at 50, which was slightly lower than expected, whilst the Composite Purchasing Managers Index fell into contraction territory for the first time since 2016.
This data supported Mark Carney’s suggestions on Tuesday of a possible rate cut.
