UK’s PM Theresa May is expected to make a statement to MPs later at 1130GMT and finally trigger Brexit Article 50. According to previous consensus, the statement should lean to the conciliatory tone, calling all Britons to unite ahead of this historical moment.
“Brexit a chance to step back and ask what country UK wants to be”
“We want to be a truly global Britain, the best friend to our European partners, but a country that also looks further”
“We want a partnership of values and economic affairs with EU, a partnership that works the best for both the UK and the EU”
“The world needs more than ever the liberal-democratic values of the European Union, values that UK shares”
“We are leaving the European Union, but we are not leaving Europe”
“We will work constructively to bring this partnership to be the best possible” “The government will put the Brexit deal with the EU to a vote in both Parliament houses”
The big day is finally here, but aside from some short-term gyrations in sterling the impact of the Article 50 activation is relatively small. The day's story will focus on the actual delivery of the note, which will go down in history as one of those key moments when the diplomats take the limelight, however briefly.
“According to our strategists, current market valuations are consistent with QE tapering ending in the second half of next year. Markets seem to price in a deposit rate hike in Q2 2018 and a subsequent MRO hike in Q3 2019.”
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