Unlike the US who cut interest rates yesterday, bullied to a certain extent by their President, the Bank of England has left UK rates unchanged at 0.75%, which is in line with analysts expectations.

Growth figures for 2020, in these uncertain times, was forecasted by the MPC, the Bank of England's monetary Policy committee, to be lower than their views this May, looking like 1.3% from 1.5%. This taking into account Boris pulling off a Brexit deal. The MPC felt that a no deal Brexit would make it very difficult for the B of E, to reach into its bag of tricks and pull out a wonder pill that would make our economy well again. In those circumstances a recession would not be too difficult to envisage and sterling could head lower still, already at a 28 month low.