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Economic summary

United Kingdom

• Theresa May began the Brexit process on the 29 March, while the SNP’s Nicola Sturgeon demanded a second Scottish independence vote.

• The Bank of England voted to hold rates at 0.25% but the decision was split, reflecting the mixed outlook on the UK’s growth prospects.

• Chancellor Philip Hammond’s debut Budget did not make much of a splash and his proposal for a national insurance rate hike for the selfemployed was dropped altogether after a week.

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