UK's Hammond: Sterling has recovered a great deal against the dollar

UK chancellor Philip Hammond speaks in Davos again - 25 January 2018

• UK economy performed a lot better than expectations after Brexit vote
• It appears that inflation has peaked
• Expects inflation to fall in 2018
• Expects the IMF to revise upwards UK's outlook as Brexit deal becomes clear
• Thanks Mnuchin for strengthening the sterling against the dollar (a little sarcasm there)
• EU businesses need access to UK financial services
• Financial services at the center of UK Brexit strategy
• New York or London would gain if London loses out in Brexit deal

Yup, a little nod and tribute to Mnuchin for weakening the dollar. No biggie.

A lot going on in Davos today. And in case you missed my earlier post, Trump has also arrived so get ready for more from Davos later on.

Btw, a piece on the Times newspaper appears to be saying that Mark Carney told an official in Davos that the UK economy would see a £10 billion hit from Brexit in an off-the-record remark.