Economy

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theresa mayThe British Prime Minister speaking at the Bank of England conference reminded of the nature of unintended consequences when actions to solve one problem can create others. She is talking about Brexit but could well be alluding to the Boeing-Bombardier fallout.

The impact of low interest rates since 2008 has had a huge impact on pensioners and savers, another impact of QE, hurting those that were prudent and did the right thing. May in her keynote speech says the government needs to look at the impact of low interest rates on savers. It is up to government to mitigate the impact of BoE policy.

The Brexit implementation period will be time limited she said and it is not in the EU's interest to see European financial markets fragment. Of course it depends what she means by fragment, from the U.K. or within mainland Europe. 

In Q&A May was asked about Bombardier and she responded that she will keep stressing the importance of Bombardier to Northern Ireland. The also commented that elements of protectionism are creeping in around the world.

From The Traders Community News Desk

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