“The next six months will be as interesting as the last six months but maybe in different ways,” for central bankers, Eric Byrne, head of UK asset management at UBS, told the audience at the firm’s mid-year outlook.

Currently, the UK is unsurprisingly consumed by Brexit, and this seems unlikely to change any time soon. In the Bank of England’s (BoE) Q2 Decision Maker Panel survey, just 35 percent believe that Brexit will be resolved by the end of the year.

However, if Brexit was to be solved positively, the BoE would find itself in a strong position, Jonathan Gregory, UBS head of fixed income UK, explained. As a...