Pound steadies as investors brace for Brexit fallout – business live

The pound settles after suffering the biggest one-day sell-off
since 2016 on Thursday, as traders predict more Brexit volatility
ahead

9.49am GMT

Draghi also took a very thinly veiled pop at Italy, which is
pressing ahead with plans to increase spending despite its huge
debt pile and major opposition from the EU.

To protect their households and firms from rising interest
rates, high-debt countries should not increase their debt even
further and all countries should respect the rules of the
Union.

9.42am GMT

Mario Draghi, president of the European Central Bank, has
delivered the keynote speech at the European Banking Congress in
Frankfurt.

Insofar as world trade stabilises at a lower level, its drag on
growth could also be temporary. But there are two conditions that
could make it longer-lasting.

The first is if trade uncertainty rises and dampens euro area
export performance, in particular owing to protectionism.

The nature of this forward guidance is contingent on economic
developments and therefore acts as an automatic stabiliser. If
financial or liquidity conditions should tighten unduly or if the
inflation outlook should deteriorate, our reaction function is well
defined. This should, in turn, be reflected in an adjustment in the
expected path of future interest rates.

Source: FS – All-News2-Economy
Pound steadies as investors brace for Brexit fallout – business live