May wins commons vote and FED keeps rates on hold

Wednesday evening saw Prime Minster May win a historic mandate to move forward with article 50 from the House of Commons. MP’s voted by 498 to 114 in favour of giving the Prime Minister the power to invoke the EU treat’s Article 50 exit clause. Across the Atlantic the US Federal Reserve opted unanimously to keep short term interest rates on hold at the start of 2017. Markets failed to react in any great measure to the announcement as the outcome was widely expected. The FED went onto signal that it remains on track for more rate hikes this year as the US continues to put on positive growth numbers as well as inflation continuing to head back towards its 2% target.