EFTA Document EFTA01449370

28 February 2013 Exchange Rate Perspectives Deutsche Bank United Kingdom (GBP bn) Figure 1: The basic balance remains negative 100 - 30 - .40 - -110 - -100 - -Besot Selene* 40 sum 5R‘l.c."3 ,1 )1( Figure 2: Net FDI inflows have turned course 2.1 150 2.0 100 1.9 50 0 LB 17 1.6 1.5 1.4 -250 - L 1.3 Ma -91 Mar-94 Mar-97Mar-00Mat.C3N1ar.06Msr-09Mar-12 Figure 3: Portfolio flows remain negative -Net Portia lb Nava CC Portfolio Outlbw 300 Portblo Infbw 200 100 0