UK Politics amongst market movers today – Danske Bank

Danske Bank analysts suggest that it is a very quiet day on the data release front and the Brexit will continue to catch the limelight with the Boris  |  22/10/2019 06:55

Danske Bank analysts suggest that it is a very quiet day on the data release front and the Brexit will continue to catch the limelight with the Boris Johnson government trying to push through his Brexit law in the House of Commons in only three days.

Key Quotes

“The big moment is around 20:00 CEST when the MPs vote on the general principle of the bill followed by a vote on the timetable for the rest of the bill. The bill is expected to survive the former but may lose the latter, which would make it very difficult for Johnson to leave the EU by 31 October. We still need to monitor whether there may be support for tweaking the bill in such a way that there is no longer support for passing the overall bill. In particular focus is on (1) a confirmatory referendum and (2) a permanent customs union.”

“The Hungarian central bank (MNB) is set to announce its monetary policy rate decision today. In line with Bloomberg and Reuters consensus, we expect the policy rate to stay unchanged at 0.90%. The MNB's tone is likely to continue to be dovish on decelerating inflation but the recent Brexit deal has supported central and eastern European currencies, including the HUF. Thus, there is less pressure on consumer prices from HUF devaluation in the future.”

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