Economists stuck to their forecasts on Monday that Britain and the European Union would agree some sort of post-Brexit trade deal, taking the view that London is likely toughening its rhetoric in a bid to pressure Brussels into a compromise.
FILE PHOTO: Small toy figures are seen in front of a Brexit logo in this illustration picture, March 30, 2019. REUTERS/Dado Ruvic/Illustration/File Photo
“Rhetoric in past few days has been ramped up, but we don’t think this materially changes the prospect of a deal being reached before the end of the year”, Chris Graham, Europe Economist at Standard Chartered, said. Economists at Commerzbank, Rabobank and Nomura also kept their forecasts that a deal was most likely scenario.
“While our base case remains a semi-managed hard exit which involves some modest stop-gap measures to manage the transition from EU to WTO rules for trade, the rising tensions could limit the breadth of any such measures,” said Kallum Pickering, a senior economist at Berenberg.
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