UK: Politics remained in the spotlight this week - Nomura

In UK, politics remained in the spotlight as the government narrowly survived the crucial customs union vote largely thanks to five Labour rebels, notes the research team at Nomura.

Key Quotes

“Theresa May’s favourability ratings continue to plummet and there is still the chance of a leadership challenge over summer, even though Summer Recess for Parliament is due to start next week.”

“UK data this week -CPI and Retail Sales- came in softer than expected, but we still expect that the BOE is on track to hike at August’s meeting.”