
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
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.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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