Rolling coverage of the latest economic and financial news, as China sets its lowest growth target in almost three decades * Latest: UK company workforces fall at fastest pace since 2012 * China cuts 2019 growth target to 6-6.5% * Premier Li warns of tough struggle * What the experts say 11.08am GMT It’s a red-letter day in Greece, which is holding its first 10-year debt auction since the eurozone debt crisis began. “In that sense, it’s a big bet because of everything that hangs on it.” I sincerely hope the 10yr bond issue is successful. The fact remains that markets anticipate political change in #Greece. The coming @neademokratia government will deliver investment grade status within 18 months. 11.04am GMT THE BANK OF ENGLAND HAS ALSO FIRED A SHOT AT THE EU - SAYING THE CITY IS READY FOR A NO-DEAL BREXIT, BUT EUROPE ISN’T. The Bank’s Financial Policy Committee says that UK banks are prepared for even a disorderly Brexit, following its work since 2016. The biggest risks of disruption in a no-deal Brexit to financial services used by UK households and businesses have been dealt with. Major UK banks and insurers are strong enough to deal even with a worst case disorderly Brexit and could continue to serve households and businesses. Continue reading...
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