May’s Brexit Transition Push May Increase Chance of BOE Hike
May Assures Partners on U.K. Budget Commitments
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Theresa May’s speech outlining a possible transition period after Brexit may make it easier for the Bank of England to raise interest rates as soon as November.
While the prime minister largely skimmed over the economy in her highly anticipated remarks on Friday, she proposed for the first time that there be a two-year extension of the status quo as part of the U.K.’s exit from the European Union. That would mean Britain would be less likely to suffer the cliff-edge scenario of dropping out of the bloc with no deal.