All the day’s economic and financial news, as the head of the International Monetary Fund warns of ‘rising uncertainty’ from the French presidential race
- Latest: Lagarde on France
- IMF chief says election casts ‘huge question mark’
- Euro to slide if Le Pen or Melenchon wins
- Markets worry about France, North Korea, Turkey….
- Coming up: IMF’s World Economic Outlook at 2pm BST
Money is also pouring into UK government bonds, as nervous investors prepare to hear Theresa May’s statement.
That has driven the price of UK debt up, sending the yield (or interest rate) on 10-year bonds down to a six-month low.
*U.K. 10-YEAR YIELD DROPS BELOW 1%; FIRST TIME SINCE OCTOBER
Back in the City, the pound has fallen sharply following the news that prime minister Theresa May will deliver an unexpected statement at 11.15am.
The Westminster rumour mill is in overdrive, with speculation of an early general election. And that’s pulled sterling back towards $1.25, having hit a three week high this morning.
Current rumours on PM announcement:
1. Snap Election
2. PM to resign on health Grounds
3. No one has a clue#GBP