UK & EU leaders to hold last ditch meeting, pound is choppy

Tuesday 8th December 2020The UK-EU trade deal really is going right down to the wire – and the wire itself keeps getting pushed back. On today’s Morning Call NAB’s Rodrigo Catril says the decision to hold a face to face meeting between Boris Johnson and Ursula von der Leyen means the decision will be reached in coming days, not in the next few hours. We might see a version of the $908b fiscal stimulus package in the US in a short while, though, although even here differences remain. Locally, yesterday’s downgrading of NSW and Victoria’s credit rating will push up borrowing costs, but the states will emerge from COVID-19 better placed than most parts of the world. Today’s NAB Business Survey will show how much confidence there is in the economy right now.

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