Cyprus Pounds

Britain’s sluggish economy looks set for more weak growth stretching out over the next five years, according to official forecasts announced by finance minister Philip Hammond on Tuesday as the country heads for Brexit.

European Central Bank supervisors are likely to postpone publishing new rules aimed at tackling a huge pile of unpaid loans weighing down euro zone banks after fierce criticism from lawmakers and bankers, sources have told Reuters.

European shares rose on Thursday, reversing initial losses after the ECB said interest rates would stay at record lows at least through the summer of 2019.

Britain’s services sector gathered steam in April and Q1 GDP growth was revised up, raising hopes of a pick-up after a sluggish start to 2018 that has kept BOE interest rates on hold.