The British High Court has today ruled in favour of UK government needing parliamentary approval to trigger Article 50 – the mechanism for leaving the EU. Initial market reactions have been in favour of buying domestic UK elements of the market with a rally in the FTSE 250 and UK sovereign debt. With the majority of MPs wishing to remain within the EU, the news sets the stage for further political turbulence as MPs will be faced with either upholding the democratic will of the people, or voting to block the Brexit vote which could be seen as a violation of the peoples' vote to leave.
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Inflation and growth expectations increased
Inflation and growth expectations increased