Invesco said the political uncertainty means the U.K. economy will continue to “wither” in the interim.
and a one-off payment to 8 million of the lowest income households.
"Any additional support for the U.K. economy would come at an opportune moment: The GDP growth estimate for March was –0.1% compared to February, and for April it was –0.3% versus March," UBS CIO Mark Haefele's team said in a note Friday. "The immediate outlook is likely to hinge on whether Johnson manages to stay on for the next two months – in which case markets risk a period of additional volatility going into the summer," AXA IM's Adegbembo said.
"It's hard to turn more constructive on the U.K. economy right now. Not only are economic fundamentals weakening, but the profound risk of a policy error is significant," Invesco strategists said.
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