While the announcement of a transition deal should unlock some short-term business spending, there are still some Brexit ‘ifs’, according to analysts at ING.
“The jobs market is also showing early signs of faltering, which could limit the potential for a takeoff in wage growth next year. This will keep a lid on consumer spending, and in turn, overall 2018 growth.”
“Another rate increase is therefore not guaranteed, although policymakers have signalled they would be comfortable with a hike next year. A move in February or May certainly can’t be ruled out, particularly if a transition is swiftly agreed.”
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