Market insights

UK Public Sector Net Borrowing Higher

The public sector net borrowing position was expected to be a surplus of £0.5 billion. However the Government had to borrow £2.2 billion, so a significant swing.

The swing has been put down to the cost of public services and benefits.

This hasn't had a big move on Pound rates that remain relatively resilient after recent gains.

It could only be GBP/USD that moves today as the federal open market committee releases its meeting minutes early this evening.

Business news centres on the spiralling cost of rent in the UK, which has cooled slightly, but still holding on to big hikes.

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Economic calendar

US: 19:00 FOMC Meeting Minutes

As ever we look forward to keeping you in the loop and look out for our next update.

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