Re: United Kingdom 02 (Jan 12 to Dec 16)
Posted: Tue Jul 12, 2016 8:57 pmUK to fall into recession over coming year - BlackRock
BlackRock strategist warns of low returns, years of uncertainty CNBC
Sterling slips as investors gear up for BoE to ease policy Reuters
Sterling skids as Bank of England chief says UK needs stimulus Reuters
U.K. Bonds Surge as Brexit Prompts Bets on BOE Interest-Rate Cut Bloomberg
LONDON, July 12 (Reuters) - Britain will fall into recession over the coming year and growth in each of the next five years will be at least 0.5 percentage points lower as a result of Brexit, BlackRock said on Tuesday.
"Recession is now our base case," Richard Turnill, chief investment strategist at the world's largest asset manager, said, adding that political and economic uncertainty will remain high after Britain's vote to leave the European Union.
"There's likely to be a significant reduction of investment in the UK," he said.
Sterling is expected to fall further as the Bank of England cuts interest rates to zero and expands its bond-buying programme, but won't fall as far as parity with the dollar, BlackRock said.
Sterling hit a 31-year low of $1.2796 last week, down around 15 percent since the June 23 referendum.
Source: Reuters
BlackRock strategist warns of low returns, years of uncertainty CNBC
Sterling slips as investors gear up for BoE to ease policy Reuters
Sterling skids as Bank of England chief says UK needs stimulus Reuters
U.K. Bonds Surge as Brexit Prompts Bets on BOE Interest-Rate Cut Bloomberg
LONDON, July 12 (Reuters) - Britain will fall into recession over the coming year and growth in each of the next five years will be at least 0.5 percentage points lower as a result of Brexit, BlackRock said on Tuesday.
"Recession is now our base case," Richard Turnill, chief investment strategist at the world's largest asset manager, said, adding that political and economic uncertainty will remain high after Britain's vote to leave the European Union.
"There's likely to be a significant reduction of investment in the UK," he said.
Sterling is expected to fall further as the Bank of England cuts interest rates to zero and expands its bond-buying programme, but won't fall as far as parity with the dollar, BlackRock said.
Sterling hit a 31-year low of $1.2796 last week, down around 15 percent since the June 23 referendum.
Source: Reuters