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BoE quiet on Brexit

It's a new year and Bank of England officials have been sharing their views on the outlook for the U.K. and the risks. However, their official communications offer no guidance on what economists say is the top risk facing the U.K.: the forthcoming referendum on its membership in the European Union.  Read more...

Sterling down in a quiet Friday trade

There were no data releases from the UK today, with Sterling spending a steadier session. It is in general uneventful week with UK data so traders are more focused onto global concerns, primarily Greek debt crisis and possible Grexit, but also possibility of Britain leaving EU. It is worth noting that UK Prime Minister David Cameron’s upcoming discussions in Brussels over reforms before a possible future EU referendum could further weigh on investor sentiment towards the Pound. Read more...

Markets little changed in a quite Wednesday trade

There are no major data releases today, so traders are being focused more on global concerns. RBA Assistant Governor Lowe said this morning that rising property prices, household debt and unemployment have increased the risks in bank mortgage books. He dismissed suggestions that lending limits imposed on the banks were put in place to let the RBA cut interest rates further. He said they were designed “to make sure the banking system is adequately dealing with a rising risk in mortgage loan portfolios.My subjective assessment would be the level of risk in bank mortgage portfolios has risen over the past couple of years,” Lowe told a Thomson Reuters conference in Sydney during a Q&A session.
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Bank of England confirms EU exit research

There are no data releases from the UK today, with banks being closed in observance of Whit Monday. With that being the case the focus is on global concerns and possible EU exit of the UK. The Bank of England plans to assess the implications of a possible British exit from the European Union, it said in a statement, confirming an email it inadvertently sent to a newspaper about the supposedly confidential research project. Read more...

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