UK domestic focus remains on the implications of the election results – Lloyds Bank

There is little of note in the calendar today and the UK’s domestic focus remains on the implications of the UK election results, especially as Brexit negotiations are scheduled to start next week, suggest the analysis team at Lloyds Bank.

Key Quotes

“PM May reshuffled her cabinet at the weekend, but is expected to face tough questions from her backbenchers today. Data wise, it is an important week for the UK, starting with inflation data tomorrow, labour market figures on Wednesday and retail sales on Thursday. The Bank of England is also expected to leave interest rates unchanged on Thursday.”

“Italian industrial production for April will be released ahead of Wednesday’s Eurozone aggregate. Other national releases have been mixed, ranging from strong German figures to a decline in French production. Overall Eurozone economic growth for the quarter is expected to have remained solid, although the ECB is minded to maintain stimulus since underlying inflation remains weak.”