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PINCH UPDATE: The perceived risk of a no-deal....>

UK
UK: PINCH UPDATE: The perceived risk of a no-deal Brexit has receded over the
past month, with indications that the Eurosceptic ERG bloc in parliament may be
willing to back PM Theresa May's deal. This has been instrumental in driving the
hawkish shift in monetary policy expectations. MNI PINCH attributes a 67.3%
probability of a December hike up from 60.3% last month (although down from
74.4% last week). Economic activity has proven quite resilient, which in the
event of a smooth Brexit transition would allow the BoE to resume its previous
tightening cycle with relative ease.
* Please see: https://emedia.marketnews.com/MNI_PINCH_UPDATE.pdf

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