The likelihood that the economy slipped into recession last month has led to the Institute of Directors calling for the Bank of England to cut interest rates. The IoD’s business confidence index fell to a low of -28 in December, with just over fifty percent of “Bosses Union” members feeling pessimistic about the future against under twenty-five percent feeling optimistic.The number of bosses who are confident in their own firm’s prospects surprisingly rose to +36 from +30 in November.Sentiment amongst the IoD’s members has been depressed since the summer, according to the group’s director of policy, although there has been some improvement over the past couple of months due to the fall in inflation.Brexit is still considered one of the major impediments to businesses' ability to grow, with several businesses commenting that the red tape and bureaucracy that still exists when trying to export to the European Union is a significant factor.Beyond Currency Market Commentary:Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.