Free Trial
CHINA PRESS

China's FX Market To Remain Stable-Official

CHINA PRESS

August LPR Seen Lower Following MLF Rate Cut-Daily

AUSTRALIA

CBA Note Mixed Household Spending Intentions

MNI EXCLUSIVE

​The BOJ's View On Q3 Consumer Sentiment

JPY

Yen Outperformance Continues

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
UK

Following a dinner last night between UK PM Boris Johnson and his Australian counterpart Scott Morrison, the UK and Australia have officially concluded a full free trade agreement, the first brand new bilateral deal (as opposed to a rollover of an EU deal) achieved by the UK since it left the European Union.

  • While the deal is not expected to add a significant amount to headline GDP (0.02% over 15 years), but benefits are likely to be felt in areas on both sides currently subject to significant tariffs. There is also the prospect of soft power benefits accruing from a more relaxed work visa regime for young Britons seeking work in Australia and vice versa.
  • The heads of the devolved national gov'ts of the UK have demanded scrutiny of the deal not only in Westminster, but also in their national parliaments.
  • A significant area of concern for the first ministers of Scotland and Wales in particular - given their outsized agricultural sectors in comparison to England - will be what protection is offered to farmers in the deal. The brief released announcing the deal says that farmers will be "protected by a cap on tariff-free imports for 15 years, using tariff rate quotas and other safeguards", but it remains to be seen what this will offer in practice.

FTA Announcement Below:



Source: UK Government

MNI London Bureau | +44 203-865-0981 | tom.lake@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.