Danske Bank’s UK economist Mikael Milhøj thinks that while a deal seems increasingly likely, the probability of a UK withdrawal agreement with the EU today or tomorrow is low.
Key Quotes
“This is not surprising given that we are too far away from the deadline for the politicians to make compromises and it is not unlikely we will have to wait until December or maybe even January before we get a deal. Indeed, a delay may make it easier for May to get the Brexit agreement through Parliament.”
“Also, we probably need to get passed the UK budget on 29 October, as May’s supporting party, the DUP, has threatened to vote against the budget, as they are opposed to what is on the table with regard to the backstop agreement right now.”
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