Annual inflation in UK in April speeds down to 2.4%
In April this year consumer prices in Great Britain edged up by 0…
Fewest bonds since downtime in 2018/19 will be sold by Great Britain
The UK authorities are going to sell the fewest bonds since the financial downtime in 2018/19, probably worth less than 100b pounds, as a Reuters survey of primary dealers uncovered on Monday.
The outcomes emerged a day before Philip Hammond, finance minister rolled out a half-yearly update on the public finances. He told he would keep to a plan with the aim of cutting the country's relatively high debt levels.
The country’s budget deficit has probably declined to approximately 2% of annual economic output by March 31 that would be its lowest outcome since 2002 and versus 2010 it lost 10%, when most government departments started reducing spending.
In 2018/19, the United Kingdom’s on the verge of issuing approximately 100.7 billion pounds versus the Debt Management Office's remit of about 115.1b pounds in the current financial year. That’s what the median prediction in the survey of 15 primary dealers revealed.
Estimates varied from 107.5 billion to 90.2 billion pounds. As seven primary dealers suggested, 2018/19 gilt issuance would be under 100 billion pounds. Such an outcome would be first since 2007/08.
Public sector net borrowing for 2018/19 is generally expected to decline to 33.3 billion pounds versus an estimate of 39.5 billion revealed in November by the Office for Budget Responsibility. In cash terms, it would be the lowest result since 2002/03.
Primary dealers appear to be financial institutions, which purchase gilts right from the UK government for the purpose of selling them on, thus assisting in creating a liquid market.
The country’s overall public sector net debt without state-owned financial institutions, although with temporary Bank of England lending to the banking sphere – managed to total approximately 1.74 trillion pounds in January, which is 84% of GDP as well as more than double its value before the downtime.
Similar
Forex today: risk-off sentiment is shaking markets
The US dollar managed to recover after a slight fall. The US dollar index is near $93.80.
Forex today: the greenback is losing ground
It seems like the rally of the greenback has ended. On Monday, the US dollar index was below $93.50. Tuesday’s attempts to recover are not successful. The index is below $93.40. No important economic data will be released today.
Popular
America will probe German and Japanese car makers over alleged patent violations
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
Gold edges down toward 3-week minimum after Congress hits spending deal
On Monday, gold headed south in European trade, making its way toward a three-week minimum after American congressional leaders came to an agreement to fund the government via the fall, thus easing worries as for a shutdown of the federal government…
Crude edges down in Asia on Caixin PMI
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…
Deposit with your local payment systems
