As the UK’s Parliament finds itself deadlocked over Brexit, its currency may finally be starting to wriggle free. Lawmakers will need to back Prime Minister Theresa May’s deal or the process of leaving the bloc would have to be extended. European leaders are due to meet and discuss it – or sign off on a deal – at a summit Thursday. That binary choice could shore up support for May’s deal from more hardline Brexit-supporting members of her own party, who fear the UK not leaving the EU at all. Money markets are currently pricing in a 40% chance of a Bank Of England interest-rate hike by December, up from as low as 30% after May’s deal was rejected.

Source: News 24 March 17, 2019 00:22 UTC