With the fourth round of Brexit talks coming to an end, EU Chief negotiator Michael Barnier has warned the trade talks could be still put off for months as the divorce terms continue to be discussed. It was mentioned there has been progress on citizens’ rights however, the Irish border remains a sticky issue. The UK will now be hoping the EU leaders will allow the talks to progress to trade when they meet at the European Council Summit next month.
Across the pond, the US released their final GDP figure posting slightly better than expected at 3.1%, the fastest rate in two years. The growth rate is currently ahead of US President Donald Trump’s target of 3. However, it is expected due to Hurricanes Harvey and Irma hitting the east coast which stopped activity, the annualised figure will decline for the third quarter, with the rebuilding of the area expected to boost GDP in the final quarter and into 2018.
The week will end with speeches from the Bank of England’s conference. BOE Deputy Governor, Ben Broadbent, will be taking part in a panel discussion titled ‘The future of central bank independence’, whilst BOE Governor, Mark Carney will be delivering the closing remarks.