Key themes on Brexit in the Fed and ECB - UOB

Analysts at UOB Group noted key themes from the ECB and Fed of late in respect of Brexit.

Key Quotes:

"Fed chair Yellen in her testimony to the Senate Banking Committee stated a cautious approach to rate increases ‘remains appropriate’ in light of the recent slowdown in jobs market’s pace of improvement. She remained optimistic about the long-run economic prospects but can’t rule out a continuing productivity slump. She also warned that Brexit would have significant economic repercussions. 

ECB’s Draghi said that economic recovery has gained momentum at the start of the year and expects it to proceed at a moderate and steady pace while acknowledging that inflation dynamics in the Eurozone still remain subdued. He also said that the central bank is ready for all contingencies following the EU referendum."