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UK Budget Preview – Deutsche Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Research Team at Deutsche Bank, suggests that the George Osborne presents his fourteenth major fiscal event as Chancellor to parliament on Wednesday – the 2016 Budget.

    Key Quotes

    “We expect the Office for Budget Responsibility to cut its forecasts for growth by one or two tenths. This, along with a poorer outturn for the current fiscal year, would push the deficit higher in the absence of further tightening measures.

    Such measures should allow the Chancellor to meet his fiscal rules, though there is limited margin for error notably with regards to the supplementary target of falling net debt (not least because of slowing nominal GDP growth). As for gilts, we expect issuance to rise to £135bn in the coming fiscal year, the percentage maturity split being similar to that of 2015-16.”
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