October 17, 2019 / 1:25 PM / a month ago

Deutsche Bank sees 55% chance Brexit deal will get rejected on Saturday

Britain's Prime Minister Boris Johnson and European Commission President Jean-Claude Juncker arrive for a news conference after agreeing on the Brexit deal, at the sidelines of the European Union leaders summit, in Brussels, Belgium October 17, 2019. REUTERS/Francois Lenoir

LONDON (Reuters) - Deutsche Bank said on Thursday it sees a 55% chance that UK Prime Minister Boris Johnson’s Brexit deal will be rejected by Parliament on Saturday, although it may ultimately get ratified after a general election.

It pegged the chances of the agreement getting through at the weekend at 45%.

Britain clinched an eleventh-hour Brexit deal with the EU, but European markets were nervous ahead of the key test on Saturday when Johnson faces a knife-edge vote in parliament to get it approved.

“In our view, it seems slightly more likely than not the deal will fail to pass parliament,” Deutsche Bank Macro Strategist Oliver Harvey said.

“But the most likely outcome in these circumstances is a Conservative majority in a general election, after which Prime Minister Johnson’s deal is then ratified.”

Reporting by Thyagaraju Adinarayan; editing by Josephine Mason

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