BOE report: UK economic activity remained broadly stable

Here are some of the key results from the Bank of England (BOE) agents' summary of business conditions for Q4 2017.

   •  Manufacturing supported by past fall in GBP
   •  Surveys point to modest investment growth in the near-term
   •  Investment intentions had remained consistent with modest growth
   •  Pay growth edged up, expected to be higher in 2018
   •  Brexit was expected to reduce sales in 2020, but was considered unlikely to influence wage growth

The headlines provided a minor boost to the British Pound, with the GBP/USD pair holding near the 1.3400 handle ahead of the BOE Governor Carney’s testimony on the Financial Stability Report before the Treasury Select Committee.