Sterling is mostly sticking to narrow ranges against the euro and has hovered near a one week low against the dollar, ahead of the Bank of England announcement today. The announcement on interest rates is due to take place at midday today. Rates are expected to be kept the same at 0.75%, although concerns such as a hung Parliament or a no-deal Brexit at the end of January may be considered.
Parliament was dissolved yesterday to make way for five weeks of official campaigning. The Prime Minister made a speech outside Number 10, marking the start of his party’s campaign. However, the resignation of cabinet member and Welsh Secretary, Alun Cairns, got things off to a rocky start.
Deputy Labour Leader, Tom Watson, also stepped down from his role and resigned as an MP for ‘personal reasons’.
The Liberal Democrats and the Green Party set out their spending plans yesterday. The Liberal Democrats also announced that they will stand down in two constituencies, Beaconsfield and the Isle of Wight, to make way for strong Remain candidates from different parties.
Today, Labour and the Conservatives will lay out their plans for the economy.
