State Street Comments on UK Autumn Budget

Originally published on 23 November 2017

In reaction to comments around Brexit at the Autumn Budget, Michael Metcalfe, global head of macro strategy for at State Street Global Markets has offered his views.
Metcalfe commented: “The government has committed funds to help with the preparation for Brexit contingency planning, but the real challenge for UK markets revealed in the budget came from the Office for Budget Responsibility (OBR) and the significant downgrades to the UK growth outlook. Still high inflation and an expected weakening in growth provide a potentially troubling backdrop for markets even without the political uncertainties created by Brexit.”