Business
"Brexit has been predicted to have a larger negative effect on the UK economy than the coronavirus Pandemic. While that may be true in terms of the length of time the economy will be affected, in terms of GDP contraction, it won’t be as significant. That having been said, the supply issues that are concerning the MPC as it meets today, will continue far longer in the UK than they will in the EU for several reasons. The most obvious is the UK’s access, or lack of it, to the EU’s single market. That will be partially balanced by the wider scope that the UK has in sourcing raw materials and negotiating its own deals for their supply. The petty wrangles that exist with France over fishing quotas and access to ports are slowly diminishing, but unless and until there is an agreement that both sides can adhere to these issues will continue to flare up. The same is true of the Northern Ireland protocol, where both sides are playing a dangerous game, with the Good Friday Agreement continually in peril. The members of the Monetary Policy Committee will be agonizing over how they will vote when considering whether short-term interest rates should be raised or not. " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.