Rolling coverage of business, economics and markets as ministers ramp up plans to leave EU without a dealJust Eat agrees £9bn merger with Takeaway.comNeil Woodford sells more than half his shares in listed fundRyanair boss warns Boeing 737 Max crisis could lead to job cutsSports Direct shares dive after results chaos 2.53pm BST Where does this all leave the Bank of England, due to publish its latest inflation report and monetary policy on Thursday?With the European Central Bank and the Federal Reserve planning interest rate cuts to stimulate their slowing economies, the Bank is expected to hold its policy steady. Yet its assumption of a smooth Brexit outcome will sound increasingly untenable if the government insists it will leave the EU without a deal.Given the risks from Brexit and global trade tensions, we do envisage the MPC striking a cautious tone. But with inflationary pressures rising, rates already well below neutral, the pound still weak and fiscal stimulus looming, easing does not look justified. In any case, it would do little to offset the heightened uncertainty. 2.44pm BST Hitting holidaymakers in the pocket as they head abroad during the school holidays, the pound has sunk by more than 10 cents against the dollar from a peak in excess of $1.33 in March. Related: Pound drops to lowest level in two years amid no-deal Brexit rhetoric Continue reading…
Via: Sterling slumps to new two-year low below .23 amid no-deal Brexit fears – business live

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