Rolling coverage of the latest economic and financial news, including the latest German GDP report and a speech by Bank of England policymaker Gertjan VliegheLatest: Eurozone growth figuresBank of England: Brexit costs us billionsNEWSFLASH: Germany misses recession by a whiskerEconomy stalled in October-December, after shrinking over the summerEconomist: It´s another black eyeTrade woes pull German economy back 10.56am GMT You can read Jan Vleighe´s speech here:Gertjan says slower world growth and increased Brexit uncertainty has slowed the required pace of monetary tightening. He says he needs to see evidence of stable UK growth and rising inflation before he will support the next increase in Bank Rate. https://t.co/AWn3DE9pK0 pic.twitter.com/vaAIwcR9wT 10.54am GMT Q: What has the Bank of England learned about the impact of political uncertainty on the economy?Gertjan Vlieghe replies that the Bank has learned that not all political uncertainty is the same. 10.46am GMT Gertjan Vlieghe is taking questions, and is asked how soon the Bank of England might raise interest rates.He warns that the UK economic data `is still deteriorating`, so that´s not a good time to raise borrowing costs. The Bank of England would need to see economic data stabilising, and then improving, first. 10.42am GMT BoE policymaker Gertjan Vlieghe has also warned that business confidence has suffered from Brexit uncertainty, while households have barely changed their behaviour:Jan Vlieghe notes from conversations with firms that their attitude post-vote was business as usual. However, as we have got closer to the Brexit deadline, firm behaviour has shifted and investment has contracted as the uncertainty has become more acuteHowever, he says that the behaviour of households has been completely different. While real household disposable income growth has tailed off since the referendum, real consumption has barely changed. Employment growth has also held up very well. 10.34am GMT You can see ...
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