Business investment expected to remain very weak - BoE's J.Cunliffe

At his speech today in Birmingham, Sir J.Cunliffe, Deputy Governor of the BoE for Financial Stability said:

central case from February QIR is economy will gently slow as higher inflation squeezes households earnings.

Outlook for business investment will depend onhow households and business react to Brexit.

Business investment expected to remain very weak before picking up.

Estimate of annual growth in business investment in Q4 2016 is around 6% weaker than May's projections.