UK March trade balance report 11 May
– GBP -11.448 prev revised up from -12.461 prev
– trade balance Non-EU -4.674 bln vs -3.3bln exp vs -3.120bln revised up from -3.748bln prev
Softer headline but better revisions due to a downward revision in imports. Anyone still thinking that a weaker pound helps the UK trade balance given we’re a nation of net importers and even out exporters mostly have to ship materials in first? Won’t go unnoticed by Carney & Co in their deliberations today.